3 months ago 2 min read

According to CEO of Lightspark, Bitcoin Wouldn't Able to Recover in 2023

David Marcus-ark-lightspark-cathie wood

According to him, Bitcoin [BTC] and other cryptocurrencies won't be able to recover from the impact of "unscrupulous players'" behavior until at least 2024. He shared his thoughts in a tweet on December 30.

Marcus predicted that until 2023, their ghost would linger over the Bitcoin industry. He only mentioned FTX once, but even then, he issued a warning that "unscrupulous players" would continue to undermine the market well into the following year.

In 2023 and probably not even in 2024 will we be able to emerge from this "crypto winter."

-As Marcus said

The four-year Bitcoin halving cycles, which produced growth in some years, may encounter issues. The surge, according to many predictions, would begin a year early, in the second quarter of 2023, and would continue until 2024, the year of the subsequent halving.

In addition, he thought that eventually a new and stronger industry will emerge, even if the recovery took longer than expected. Marcus believed that Bitcoin Lightning Network would succeed in overtaking all other cryptocurrencies as the most used worldwide.

Cathie Wood, CEO of ARK Invest and a prominent person in the cryptocurrency industry, wrote on Twitter:

At the time of writing, Bitcoin (BTC) was trading at about $16,527, down 0.07% over the previous day but still avoiding substantial volatility as 2022 came to a conclusion.

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