The betting industry is constantly changing and upgrading according to its clients’ needs. With the appearance of cryptocurrencies on the global arena, gambling took a huge step forward, applying crypto as one of the available payment methods. Bitcoin, Ethereum and others are expected to get even more popularity in 2023, even though the previous year was quite tumultuous for the cryptocurrency market. So what’s coming next? Should the bettors keep to crypto betting? What should investors look out for? In this article we gathered the top 5 crypto predictions regarding all of those questions, so you can wait and see for yourself whether it’s worth it.
1. Cryptocurrencies might place the main role in gambling payment systems
Blockchain technology caused a revolution in society, and gambling industry is getting all the benefits from that. All the bettors know how annoying the third-party involvement in the payment process can be. So when cryptocurrencies showed up and made it much easier: instant transactions, no need for external validation, low fees – what can be better? So now players can enjoy their favorite betting activities totally anonymous, with better security, fast deposits and withdrawals, and improved credibility – check out Sportbet.one website if you want to try it out yourself. All the reasons above are pointing towards crypto becoming the number one option in gambling payment systems, and we have nothing against it.
2. The First Spot Bitcoin EFT Could Get Approved
Crypto investors have been waiting for the approval for EFT (exchange-traded fund) in the United States for quite some time now. And some experts are confident that it will happen in 2023. We know that ProShares’ Bitcoin Strategy EFT launch was green lighted last year. But tracking Bitcoin futures contracts isn’t enough for the investors, they need direct exposure to the currency. And knowing how much the market has grown lately, it is possible that 2023 will be the year when a Bitcoin Spot ETF gets its long-awaited approval.
3. Moving Toward Decentralized Finance (DeFi)
DeFi, also known as decentralized finance, is a crypto development that focuses on re-making well-known financial products, only in this case without any middlemen. DeFi goes hand-to-hand with DAOs, which means decentralized autonomous organizations. Basically, DAOs is aimed to be a brand-new internet community. Both of these areas are expected to grow sufficiently in 2023. You might have also heard about DeFi as a part of Web3. This trend has lost supporters, who claim that companies such as Amazon, Alphabet, Apple and Meta control online platforms. Web3 followers are calling for non-fungible tokens and a decentralized blockchain.
4. Most meme coins will disappear
Do you remember an extremely popular TV drama called “Squid Game”? Sure you do. And do you remember that there was a coin named after it? Exactly, it disappeared so quickly after hitting the market, that most people don’t even know it existed. As crypto investors predict, the same fate awaits most mem coins in 2023 – they most definitely will follow the Shiba Inu coin when it climbed 44,540,000 percent and wasn’t seen anymore shortly after that.
5. VIX Spikes Impact Bitcoin Performance
Some crypto investors say that bitcoin performance can be directly impacted by large financial markets. For instance, last year spikes in VIX (Cboe Volatility Index) were synchronized with bitcoin sell-offs. So now there is a thought about possible repercussions for bitcoin’s price ups and downs in 2023 market difficulties.
If you still aren’t familiar with the cryptocurrency world, we strongly suggest you do so, because it looks like 2023 will be a great year for crypto. Getting involved with blockchain technology has a great deal of benefits, which explains its popularity, and not just in the betting industry. The idea of decentralized finance DeFi is gaining more and more supporters every day, so you better keep an eye on that, if you don’t want to miss a huge change in the finance world. Watch out for our crypto predictions and more and explore the crypto universe – you won’t regret it!