Chris Ani shares Crypto lessons from 2022 and what to expect in 2023

2022 is arguably the most eventful year in crypto history. Chris Ani, founder of DABA and one of the pioneers of blockchain technology in the African space, reflects on these 2022 upheavals in a chat with Technext.

From multi-million dollar hacks to groundbreaking blowups, 2022 was an eventful year in crypto. If you ask an average person to describe how things went this year, there’s a high probability they would say this was the year the technology died. Millions of investors/traders who came in drunk on the 2020/21 bull market euphoria vowed to leave the space forever as the hangover (2022 bear market) bit harder. But through all these, the nascent economy survived.

Read also: Not all gloom: Here are 5 major wins for the crypto space in 2022

Describing the year, Chris Ani says:

So many things that have happened were not expected. Yes, we expected the market to crash, but we didn’t see it to this level. There were a lot of implosions, a lot of turmoils.

Despite those not-so-good occurrences, a bright side Chris Ani looks at are blockchain events, especially the ones that took place in Africa. He remarks that those defining events inspired him a lot. One is the Technext Coinference 2.0, where Chris was a plenary panellist. 

Those discussions must be held to position the continent perfectly for global crypto dominance.

Lessons from 2022

2022 came with many lessons/experiences for crypto players and enthusiasts. Chris Ani says some of these lessons are that technology cannot change human behaviour, and the crypto space has shown that it can be self-regulated. 

Commenting further on the lessons, Chris Ani says:

“You need a lot of experience to build a solid cryptocurrency business, startup and enterprise. It has also shown that the United States government has not been serious about regulating cryptocurrency. They’ve not really shown seriousness with regulating crypto. 

There’s still a need for more education in the crypto industry. 2022 has also shown that scamming in the finance world is not a black man thing; it’s not just tied to black men. We’ve seen that Asians and Americans have facilitated the recent scams in the crypto industry. Africans have put in the work to make sure that cryptocurrency works. It has also shown that in Nigeria, it is possible to build solid cryptocurrency projects if we are united and have long-term goals.”

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The price trend of major cryptocurrencies in 2022 

Expectations in 2023

Going into 2023 at the back of a harsh year, 2023 is projected to bring better tidings for the crypto space. There are predictions that the current bear season will stop sometime in the new year. Chris Ani echoes some of these sentiments. 

“2023 is still uncertain but I think from the second quarter of 2023 we are going to have some bullish momentum.

Chris Ani

I wouldn’t pronounce the market dead. Crypto market is not dead. The only thing is that liquidity is still leaving. I think we are in the last days of seeing the worst that could happen in the crypto industry. I also think that crypto on its own would continue to survive. Crypto, on its own, would see big players coming into the market next year. We would see new trends. Stricter regulations should be expected. There will be a lot of healing going on in the market, step by step.” – Chris Ani. 

On a personal note, Chris Ani says he and his brand would continue to go big on education. 

“Personally, my company, DABA, is expanding to add more tech courses to our platform and other areas in crypto that people would like to participate in. We are launching a crypto payments platform next year. DABA TV will be expanding, and we will keep having more and more expansion. 

In 2023 we are looking to impact the media. We will have more media content so that people can watch and learn from us. DABA Kids will be launching. Daba Pay and expansion of Daba as a school and a lot of exciting updates.” – Chris Ani. 

Fully armed with harsh lessons 2022 has taught crypto players and enthusiasts, 2023 should be a better year.