Bitcoin is expected to dominate the crypto market by the end of 2023

According to Fedi CEO, Bitcoin is expected to dominate the cryptocurrency market by the end of 2023, Cointelegraph reported. It is expected that Bitcoin’s superiority “is going to be clear” in every way.

At the Bitcoin 2023 event, held in Miami, Obi Nwosu, co-founder, CEO, Fedi, a Bitcoin community custody protocol that provides alternative solutions that don’t trust centralized exchanges, mentioned that It is “increasingly difficult to deny that Bitcoin has the fastest, cheapest, simplest, most decentralized and most secure ecosystem,” Cointelegraph added.

As reported by Cointelegraph, Nwosu explained that there is “increasing evidence” that Bitcoin may be able to provide a safe and well-planned solution. This can include creating a decentralized social media network, empowering local groups, and improving functionality, among others.

Further, he also added that there is a misconception related to Bitcoin scaling and function, but the “reality is that ‘improvements are being made’ at an incredible speed.” It is believed that solutions are being developed “that are right the first time,” Nwosu told Cointelegraph.

(With information from Cointelegraph)

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