JAKARTA - Bitcoin and other cryptocurrencies experienced a winter season or a drastic decline in currency prices/values over the long term.
Although in 2023 Bitcoin has the potential to enter the saturated phase from early 2022, Indodax CEO Oscar Darmawan believes that Bitcoin will potentially experience price increases, ahead of the halling day in 2024.
Half of the Bitcoin supply in mining occurs every four years. The Halving day also makes the price of Bitcoin rise due to limited supply and increased demand.
"Usually in 2023 there will be price adjustments towards the next Bitcoin haloing. When bitcoin rises, it will be followed by other cryptocurrencies that will develop very positively," Oscar said in a statement received in Jakarta, Friday, December 30.
Oscar predicts that Bitcoin Bullrun (the increase in crypto market prices) will occur in 2024, but the right year to re-accumulate cryptocurrencies is in 2023.
"Because the following year, the price of Bitcoin has the potential to be too high again," explained Oscar.
Blockchain prediction in 2023
Not only related to crypto, but Oscar also predicts that blockchain technology will still be very interesting to develop. Even in 2023, blockchain technology will be evolved not only in the financial sector but also in other industries.
"People will be busy talking about DeFi (Decentralize Finance). In 2023, DeFi will be more popular because blockchain technology is getting more and more friendly. The biggest challenge in blockchain technology when it first developed in 2009 until 5 or 10 years later is in its user friendly, "explained Oscar.
The Indodax CEO also said that apart from bitcoin, the metaverse will take off and the infrastructure will be more mature so that it will be easier for people to move in the metaverse.
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