#Trends and Innovation
What Is The Future of Crypto in 2023?
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Summary of the Episode
In this episode, we had Ethan Truer with us, the author of the book The Next Gold Rush: The Future of Investing in People to know the patterns in the rise and fall of cryptocurrencies. What causes crypto currencies to fall and the next bull in the crypto market?
Show Notes
Ethan says that Bitcoin is an immature industry it was created in 2008 and since then it hasn’t even been two decades yet. But in these decades it has almost become mainstream. So keeping in view this context we do need regulations and mechanisms to deal with the rise and fall of crypto. Maybe in the next two decades, we will have a safe version of all the things like crypto wallets and exchanges.
Despite the FTX crash last year, the famous American investor Tim Draper predicts that Bitcoin will reach $250,000 this year. But as per Ethan, this is impossible and it's too early to speculate on anything. Because we really need to solve all these concerns around Crypto. Yet this year does not seem to be any different from last year in terms of making regulations.
Regarding the risks of investing in crypto, he said that this year is not ideal. We like the idea of making a quick buck which is the greedy part of our society or the concept of “crypto enables economic freedom” but we really need to gain the trust of people.
Regulate our systems, set rules and regulations, and set security measures in addition to making fault-proof laws. An individual, who is thinking of investing in crypto should have full comprehension of Crypto’s volatility or cryptocurrency volatility data.
He also says that Cryptocurrencies are literally designed to bubble. But keeping yourself active in Cryptomarket is more important than investing.
