CNBC Observer: 2023 will be a weak year for the cryptocurrency market

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While many experts say that 2023 has prepared for us a new bull run cycle and the development of many cryptocurrency startups, Jim Cramer has a completely different opinion. According to CNBC columnist and financial show host Mad Money, don't expect a major upswing in the industry this year.

Jim Cramer believes that 2023 will remain quite depressing. This nature, together with skepticism from the cryptocurrency community, will not allow some digital assets to grow strongly enough. Doubts, of course, are intensified by the events of recent months that have taken place in the open spaces of the crypto-currency world.

The fall of the FTX exchange caused cryptocurrency investors and traders not only to lose large capitals that had been accumulated over the years, but also to remain without confidence in the digital asset industry as a whole. According to Kramer, the number of victims is at least several million people, which negatively affects cryptography in general.

It is noteworthy that not only some experts, but also services using the power of artificial intelligence are talking about the continued fall of digital assets. For example, recently PricePrediction cryptocurrency monitoring gave its forecast for the bitcoin exchange rate at the beginning of 2023.

According to what the service using AI says, closer to the beginning of February, the cost of one BTC will be $15,532, which is 6.7% lower than the current value. The forecast is quite realistic, given that we are likely to be accompanied by a global downtrend for some time.

2022 turned out to be a very depressing year for the cryptocurrency world. Against the backdrop of all the events with the collapse of crypto platforms and other companies, the global downtrend continued to intensify, and assets fell and fell. As a result, compared to its peak shown in 2021, Bitcoin fell by 70% and closed last year with a minus value.

Some market analysts believe that Jim Cramer is right and in 2023 one should not expect the rise of the cryptocurrency market, and the global BTC correction will continue. Solidarity towards Cramer is expressed by such well-known experts as David Kammerer, director of CoinLedger, Stefan Ristic, head of BitCoinMiningSoftware, and others.

Earlier, we talked about a user who cited 6 facts as arguments that support this hypothesis. If you missed this material, then we invite you to follow the link and read the information .

In contrast to the adherents of the crypto-currency depressive mood, there are also opposite opinions. For example, we recently talked about the extremely positive attitude of the founder of XOR strategy Aurelien Ohayon . The latter also pointed to strong arguments in favor of why BTC may start to rise this year, however, the events of 2022 may still overpower the regular cycles of Bitcoin. In theory.

BTC is currently trading at $16,640. Over the past 24 hours, it has sank by $80, which is 0.5% less than 24 hours ago.