I feel like 2023 is really going to be brutal. For now people are going to go after the US Dollar for relative "safety" it seems and personally I think we are going to have a huge miner capitulation because the Bitcoin mining difficulty keeps rising probably because their equipment they bought was probably on back order. Now it is plugged in and running which will squeeze profits heavily. Also a lot of those mining outfits might have had part of their operation as GPU mining Ethereum but now they have had to turn those machines onto different chains. Profits are going to be thin and when the price breaks down they will be forced out of business or will have to shut off their rigs. We will then see the difficulty drop for several months and things will get even more dead. With everything happening in the world it will be brutal. Bored Ape NFTs will be going for $0.27 floor price.
Maybe by the end of 2023 we will get some action coming back to the space. Hopefully the areas I put my attention will survive the bear market.
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