The crypto space underwent a roller coaster ride in 2022, wherein multiple factors led to a drastic downfall of the majority of assets. While the market participants always awaited the right opportunity to jump in, the markets manifested a diverse trend that shook the entire crypto space. However, while the bearish market is assumed to end soon, the upcoming trend is believed to lay down a notable upswing ahead.
A well-known analyst representing himself as Coin Bureau unveiled the forecast for Ethereum and a popular Ethereum-killer, Polkadot for the year 2023. In the latest Q & A session, the analysts highlighted the upcoming Shanghai upgrade which may allow Ethereum to be unstacked. Hence believes that 2023 may mark a resurgence of the ETH price rally.
“ When they see that that ETH can in fact be unstaked and easily sold, then it might incentivize them to actually stake themselves. So I really think it could go either way. Now, I wouldn’t at all be surprised if it was slightly bearish in the short term if we do see some selling. But I think the future for ETH is so, so bright, and I think Shanghai, assuming it goes off without a hitch as the merge did, then I think 2023 could be a really big year for Ethereum and for ETH,”
He went on to say that ETH price marks a 5-digit figure in 2023 but also believes that it may maintain a sideway trend too. Coming to Polkadot, the analyst says that he sees multiple strong points for the chain.
I think it has two particular things going for it. It has one of the highest active developer counts in all of crypto. There are lots of people working on Polkadot. And of course, Gravin Wood, the guy behind it , is very very smart dude. And speaking of Gravin Wood, I think Polkadot has gone a long way and taken many steps towards decentralization, and I think that is going to be really important.
Any crypto project that isn’t sufficiently decentralized could have a really tough year, next year, and I think Polkadot is moving in that direction. So I would imagine Polkadot will still be around come the next bull market. I think it has got a lot going for it,”
Source: https://coinpedia.org/price-analysis/2023-could-be-the-year-for-ethereum-and-an-ethereum-killer-says-an-analyst/