The year is almost at its end and so much has happened in the crypto space. It’s been an eventful year, to say the least, and investors and analysts will look back at this year in the future and remember its importance. The crypto market was always going to face a monumental year soon, given that regulation has been on the horizon.
There were several lessons to be learned in 2022 and investors will note these as we head into a year that may have challenges of its own. 2023 is set to be another critical year for the crypto market and may pose new threats and opportunities for the industry.
What Were 2022’s Lessons?
It would be an understatement to say that 2022 was not a good year for crypto. After entering the year weak, it took a huge hit in the second quarter as the Terra ecosystem collapsed. That alone would have been enough to say that 2022 was not a good year.
Then the FTX collapse happened, something which is still very fresh on everyone’s minds. The fall of what was considered a giant of the industry sent shockwaves both inside and outside the crypto world. Investors pulled their funds out, the market crashed, and now many are hesitant to enter the market – at least until the dust settles.
That’s the primary lesson that the crypto market is learning this year – to apportion funds more carefully. Whether it’s retail investors or large hedge funds, all entities have had their fingers burnt this year. They invested in ecosystems that were simply not sustainable or invested in entities that entirely mismanaged funds.
The carefree nature with which funds were doled out meant that many entities, both small and large, were exposed to the likes of Terra and FTX. When investors began pulling out their funds from the ecosystem to prevent any further losses, it caused a bank run. Hedge funds and other large investors who had exposure to the two entities experienced a collapse of their own, and that’s why the likes of Three Arrows Capital went bankrupt.
This is the moral of 2022 – namely that investors both large and small must be mindful of where they put their capital and do their research thoroughly. Crypto is a highly complex market where individual protocols can be highly intertwined with others; if one falls, then there’s a good chance that another might as well.
As regulations and investigations begin, these will only add to the potential of the market experiencing more pain in the months. There is still plenty to be done in terms of how the market fits into the rest of the economy, which is what some regulators are turning their attention to. On that note, what will 2023 bring and will there be some positives that investors can find relief in?
What Will 2023 Bring?
You wouldn’t be able to blame investors for being pessimistic about what is in store in 2023. There’s really no clear-cut indication of where prices will go – something impossible to predict in the best of circumstances – but there are some trends that are solidifying in the market.
The most prominent trend is that of metaverses. The latter, and Web3 in general, has caught the attention of small and big companies, as well as those both in and outside the crypto space. There is potential for establishing long-term engagement with brands and businesses, as well as creating novel means of exchanging value. There is also the social nature of metaverses that seems particularly important when Web2 social media is receiving heavy criticism.
That last point is something that certain metaverse projects are taking to heart. RobotEra, a metaverse project themed on futuristic robots and sci-fi, is creating a metaverse that has strong social foundations. Players can create their own interactive social experiences and earn from them.
They can attend such events as concerts, salons, and casinos, and earn the TARO token for tickets to events that they are hosting. Of course, there is also the option to stake TARO tokens.
This is the kind of positive change that investors can look forward to in 2023. Players can engage in metaverses with multiple features while also earning from doing something they enjoy.
The RobotEra team has taken their understanding of the market and social platforms to create the metaverse. The TARO presale looks like it is going well, raising over $157,000 in just a few days.
It is in its first presale stage, with the price of TARO being $0.020. The price will be $0.020 in the second stage and the third and final stage will see it go to $0.032. TARO can be bought with either USDT or ETH, and the minimum investment is $20.
Another guaranteed outcome in 2023 is crypto regulation. The world has been building toward this and many governments have already taken action in this regard. Some of the most robust steps taken come from the EU, which created the MiCA bill that will have a significant impact on the market.
2023 Holds Hope for Investors
Whatever the case, 2023 is going to be a critical year for the crypto market. The asset class is still in its growing up phase and there are plenty more changes in store. However, despite the challenges the new year will pose, there are projects like RobotEra that could make a huge positive impact. It’s worth looking into projects like these to get a sense of where the market is going.
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