Course BTC/USD rises slightly on Monday to around $16,730. Meanwhile, the crypto industry will need at least 2024 to “recover from abuses by unscrupulous players,” David Marcus, CEO and founder of Bitcoin Lightspark, predicts in a new blog post.
Less than two months after the FTX crash, the effects are still visible in both poor sentiment and price behavior
Hope for Bitcoin may lie in its four-year halving cycles, which are usually conducive to growth
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David Marcus strongly believes in the Bitcoin Lightning Network
According to Marcus, who is well known for his work in the crypto space at Meta and previously at PayPal, the “bad actors” have a lot to answer for, and the effects of their actions will remain in the crypto industry after 2023. Less than two months after FTX crash the effects are still visible both in poor sentiment and in price behavior. FTX was mentioned by Marcus only once, but he also mentioned “unscrupulous players” whose actions will be visible throughout the next year. “It will take several years for the market to recover from abuses by unscrupulous players and responsible regulation to emerge. We will not emerge from this “crypto winter” in 2023 and probably not in 2024 either. DOWNLOAD THE EBOOK AND GAIN AN ADVANTAGE IN THE MARKET WITH THE EXAMPLE OF DAX In his opinion, if HODLers are forced to wait for their “silver linings”, it will further destroy the historical trends that Bitcoin in particular has followed in recent years. As Marcus notes, Bitcoin may be his hope four-year halving cyclesthat are usually conducive to growth. It is widely expected that 2024, the year of the next halving, will bring an optimistic price movement. Some even believe that the upward trend will start a year earlier, in the second quarter of 2023. Marcus is convinced that if this happens, a new and stronger industry will emerge, even if the recovery takes longer than predicted. He added that the Bitcoin Lightning Network “will begin to function as the world’s most efficient open, interoperable, low-cost real-time payment protocol.”
Bitcoin (BTC) slightly increases after the New Year
Some believe that one of the worst Bitcoin bear markets is over, while others are predicting a further drop in BTC price to $10,000 or less. Meanwhile, BTC/USD continues to avoid significant post-New Year volatility, trading above $16,700 and up just 0.67%.
BTCUSD daily rate, tradingview
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