The cryptocurrency industry, development and prices have been hit in the last two years despite its increasingly marked growth and adoption in global society. During this month of January we have been in charge of compiling the opinions of different experts about what they think about this sector that is just in full swing.
On this occasion, we have talked with Manuel Calderón, Financial Manager of Buenbitand he has shared some opinions of the cryptocurrency market considering the present and the year 2022. From opinions regarding the prices of crypto assets to the regulatory issue, Defi, Calderón has made us understand that for companies in the crypto sector it is very important to listen to users when making decisions.
Summary of 2022 and expectations for this 2023
In Calderón’s opinion, the year 2022 was very difficult for the crypto and fintech industry worldwide; where, as a result of various situations that were experienced during this year of the bear market, the market was “refined”, and the players who came out ahead proved to have the best projects. On the other hand, he pointed out that the only thing he points out as positive is that those who remained in the market knew how to adapt to the context and continue today, including Goodbit, “Building to provide everything necessary for the ecosystem to continue to grow and consolidate”.
“At Buenbit we will continue to strengthen our value proposition and gain even more loyalty from our community by building a bond of trust and transparency”Calderon noted.
In addition, took the opportunity to list some lessons that 2022 left them: “It is important to listen to the users. This is the only way to make the right decisions and grow sustainably: you can launch the most sophisticated product in the world, but if it’s not what people need, it’s useless. And, above all, that clear and honest answers should always be given, regardless of any situation”he commented.
The regulatory dilemma
According to Calderón, Buenbit supports the regulation of the cryptoactive industry, especially what concerns exchanges, brokers and other centralized players, where they point out, as seen in 2022, there may be a lot of counterparty risk and contagion effects. .
“If the regulation serves to reduce these risks and generalize good practices, that will undoubtedly be beneficial for the industry”said.
Nevertheless, Calderón mentioned that it still remains to be understood what the main regulatory aspects that will be imposed will be, especially on the part of the decentralized crypto industry, such as DeFi protocols that operate with smart contracts.
The crypto winter slows down the advancement of the crypto ecosystem
As Calderon pointed out, the crypto winter and the adverse conditions for finances in general had a negative impact on the expansion of the crypto ecosystem. He explained that capital to finance investments became much more scarce and expensive, causing most firms to make “difficult decisions” to scale down and become self-financing. “At least temporarily until market conditions improve and investors return to the venture capital markets,” Calderón said.
However, he reported that these cycles of investment expansion and contraction are natural and in some sense serve to learn to be more efficient and better understand what the market demands.
“Our confidence is that the crypto-assets industry will be increasingly relevant and will generate valuable products and technologies for society”he pointed.
“The important thing is to continue building and offering better experiences and solutions to our users”Calderon added.
Analysis on the price of Bitcoin for this 2023
In this sense, Caderón explained that from what we are seeing in these first weeks of the year, it seems that macro risk factors, such as inflation and unemployment and economic activity are improving, and the rise in world interest rates seems to be starting to slow down. stop. In his opinion, this generates better expectations for the demand for financial assets and the appetite for risk, which seems to be happening in the markets in general, and in particular in those of crypto assets, where we see an incipient trend towards the recomposition of prices, after a year in which prices suffered significant falls.
“If these indicators continue, we can expect a good year for the financial industry in general and the cryptoactive industry in particular”he pointed.
At the time of writing this note, Bitcoin is trading at USD 23,151presenting a slight setback on the daily chart after a bullish run that began on January 8, and which led the price to stop specifically at the resistance of the 200-day moving average on the weekly chart.
On the other hand, it should be noted that according to the Bitcoin Index Fear (Bitcoin fear and greed index) it is at 61%, that is, in greed.
Trends for this 2023
Finally, Calderón mentioned that the trend that can even be seen right now is towards a greater integration of traditional finance with decentralized finance or based on crypto-asset technology.
He justifies that due to this, we will see more and more assets being able to transact on chain, based on tokenization mechanisms, such as bonds, shares, ETFs, more types of commodities, etc.
“We also believe that everything related to international transfers and remittances between companies has a lot to grow, and in this case good regulation can play in our favour, given that in the current situation many banks and companies cannot or find it difficult to operate through of crypto assets to solve your needs to cancel international payments”he concluded.
Disclaimer: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information presented here should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
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