2020-2021 was a super exciting year for crypto enthusiasts. In November 2020, Crypto broke the three-year bear market. In these years, Bitcoin received legal tender in countries like El Salvador, and countries like Canada and United States have whole-heartedly accepted Crypto.
Bitcoin has grown by almost 70% since the beginning of 2021, which took the value of Guide to Cryptocurrency to the peak mark of $2 trillion.
After the massive success in the year 2021, Crypto has faced a major steep decline since the start of 2022. Though it is the largest cryptocurrency and hit 69,000 USD in the past year, currently trading below 20,000 USD. Since the beginning of 2022, this is the second time Bitcoin has traded below the mark of 20,000 USD. The current compromised macroeconomic environment is responsible for this decline in Bitcoin.
The question arises, is crypto heading towards a better future? Or, Will the world of cryptocurrency witness the decline of the decade-old Bitcoin?
Carol Alexandra, Professor of Finance at Sussex University, predicted Bitcoin to hit its lowest, $10,000. Each and every coin has two sides. The predictions mentioned above portray the worst nightmare for Bitcoin enthusiasts and other investors. The other side predicts that Bitcoin might hit the mark of $100,000 by the end of 2023. Other experts, such as Yuya Hasegawa, a Market analyst at Digital Asset exchange Bitbank in Japan, predicts Crypto might not face a crash in 2022. There are numerous possibilities that Bitcoin might reach $70,000 by the end of 2022.
The major reason for such a major hit or cryptocurrency is because of the current macroeconomic environment. The head of Blockchain and crypto research, Martin Hiesboeck,added shed light on how investors are having thoughts about the Long-term viability of Cryptocurrency. According to Martin Hiesboeck, “The market remains fragile and on edge, not necessarily due to fears from crypto projects failing but rather due to the challenging economic circumstances.”
Adoption by investors
Another prediction for the year 2022 is Crypto is going to be adopted by more investors. Kate Waltman, a NY-based certified public accountant, mentioned that many experts in the field of cryptocurrency predicted the rise of Bitcoin by $100,000 by the other half of 2022. All the international brands and Multinational companies are looking forward to change their assets into the digital metaverse. Ric Edelman, the founder of the Digital Assets Council of Financial Professionals, predicts the worldwide acceptance of Bitcoin. According to Ric, almost 500 million people will own Bitcoin by the end of 2022.
Approval of First Spot Bitcoin EFT
Another exciting prediction on the list for the year 2022 is that First Spot Bitcoin EFT might get approved in the year 2022. If the First Exchange-Traded Fund (EFT) in the United States gets approved, then it will allow investors from all over the globe to access the world of cryptocurrency directly. The year 2022 opens up the new gates to Decentralized Finance (De-Fi) and Decentralised Autonomous organizations (DOAs). Decentralized Finance focus on the production of financial products without the middle man, and the Decentralized Autonomous organization is looked up to as a budding and fastly expanding new Internet community.
Cryptocurrency regulation will be the major emphasis in 2022, according to Vijay Ayyar, who is the vice president at cryptocurrency exchange Luno. The world may finally have a comprehensive understanding of the murky areas of cryptocurrency by 2022. Tether, the largest currency in the world, is another forecast that its value may be linked to the US dollar.
The war between Ether and Bitcoin is a hot topic of debate among Crypto enthusiasts. In 2021, Ether surpassed Bitcoin by 418 Percent. And Bitcoin was at 66%. The same kind of situation has been predicted by experts for the year 2022. It is predicted by experts that Tether might lose the title of the largest coin in the world if the USD coin will step into the race.
The world of Cryptocurrency is something that can change within the blink of an eye. As much as future predictions are much more thrilling in the crypto world, it is better to do research and check sources. These were the list of most interesting predictions for the world of Cryptocurrency. Be sure to check the details.
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