In a market outlook report published on Dec. 20, Coinbase Institutional stated that the crypto winter will extend well into 2023, especially for altcoins.
Company analysts expect digital asset selection will transition towards “higher quality names” like Bitcoin and Ethereum. This is based on several factors, such as sustainable tokenomics, the maturity of respective ecosystems, and relative market liquidity.
They were not confident that altcoins would see much momentum next year.
“We think investors’ willingness to accumulate altcoins has been severely impacted by the deleveraging in 2022 and may take many months to fully recuperate.”
Required reading: Our institutional research team is out with their 2023 Crypto Market Outlook. We give our view on three key themes for 2023 and dive deep into Bitcoin, Ethereum, stablecoins, regulation, NFTs.
Find it at https://t.co/wCqmlkypqf
— Coinbase Institutional (@CoinbaseInsto) December 20, 2022
No Love for Altcoins
Bear markets are
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