With the year 2022 coming to an end, people have started to wonder what the future of cryptocurrencies will be in the following year.
Crypto news website BitTribute.com reports that most of the market experts and analysts have already started looking into the cryptocurrency industry’s future. Everyone is coming up with their own prediction about the future pricing of cryptocurrencies.
Many analysts and market experts are coming up with predictions about the trading price of Bitcoin and other major cryptocurrencies.
South Korean Experts with their Two Cents
When everyone is coming up with their predictions about the crypto industry in 2023, South Korean experts do not want to be left behind.
They have also come up with their prediction about the future of the crypto industry and where its valuation will be in the year 2023.
It seems that the South Korean experts have stuck with the most logical aspects when coming up with their predictions about the crypto industry.
According to experts in South Korea, the overall valuation of the crypto industry will reach the $1.5 trillion mark in 2023.
At the time of writing, the overall market capitalization of the crypto industry is around $800 billion.
A Logical Explanation
The prediction made by the South Korean experts is backed by the logic of the inflation rates.
As per them, in the year 2023, the inflation rates will be under the control of most of the major economies. It is the major countries from around the world whose contribution dominates the crypto industry.
The running year has been full of hiccups for the global economy. The countries are stuck dealing with high inflation rates.
They are trying their best to bring the inflation rates under control but it has taken its toll on the overall economy.
Countries from other parts of the world are also fighting high inflation rates.
Inflation Rates to Lower in 2023
However, the efforts being made on a global scale will finally work out in favor of cryptocurrencies. As the inflation rates lower, the governments will lower the interest rates.
This would leave people with enough funds to invest in cryptocurrencies. When that happens, the cryptocurrency industry will witness great rallies and that would help push the overall market valuation.
The experts have confirmed that they hope the changes will take place in the year 2023. This would eventually let the cryptocurrency market capitalization surge to $1.5 trillion.
This means that all major cryptocurrencies currently facing a downtrend will eventually pick up the pace.