Over the last several years, cryptocurrency has grown in popularity to the point that the alternative investment class has practically gone mainstream. While Bitcoin was the first and is currently the most well-known cryptocurrency, many others have since appeared. The phenomenal profits that some investors have made are part of the reason for the asset class’s popularity.
With the approach of 2022, the cryptocurrencies are now at least one step away from becoming a fully valid part of the main world. And this is all at the forefront of things, as we have in mind that this year was marked by huge events for cryptocurrencies.
Acceptance from El Salvador for Bitcoin as a legal payment instrument, China’s major restrictions on cryptocurrency mining, India’s plans to ban all private cryptocurrencies and the current high values of bitcoin are only part of it.
More and more big investors are entering the crypto game, while the social network Facebook is entering the world on a virtual basis all over the world.
Here are some of the best forecasts for the sector of cryptocurrencies for 2022, according to experts from the industry, quoted by Business Insider:
*If the countries take a position, the adoption of cryptocurrencies will be much slower, says Witek Radomski – co-founder of the blockchain platform Enjin.
*The price of Ethereum, which is in the second place after Bitcoin in terms of market capitalization, will increase much faster than the current rate, according to Tom Higgin – Chief Executive Officer of the Gold-I Assets Management Platform.
*Video games, in which you have to pay with cryptocurrencies, will become very popular, says Nick Saponaro – Co-founder and Chief Executive Officer of the Eco-System for Decentralized Payments Divi Project. He adds that larger companies such as GameStop and Epic, will start producing such games from the beginning of next year.
*Bitcoin will gain dominance over stocks in 2022, according to Mike McGloyn, the main analyst at Bloomberg Intelligence.
*The market capitalization of the crypto economy will increase from a peak of 3 trillion dollars in 2021 to more than 7.5 trillion dollars, says Rohit Talwar – CEO of Fast Future. According to him, at least 25 countries will use the digital currency of their central banks next year.
*Investors and businesses may increase their cryptocurrency allocations. As bitcoin grows more popular, it is progressively being included in the portfolios of both individuals and businesses. Cryptocurrency allocations of a few percentage points are now recommended by some financial advisers, and more organizations are allocating funds to cryptos and digital assets. These sorts of movements in asset allocation tend to gain traction on their own, implying that by 2022, more and more money will be streaming into cryptocurrencies.
Although cryptocurrencies have grown in popularity and value, they are still a long way from being conventional currencies or payment methods. Even if digital currencies eventually replace or coexist with traditional paper currencies, it’s impossible for investors to forecast which cryptocurrencies will survive, let alone which will emerge as the industry’s main long-term player. Despite this, it appears that cryptocurrencies will continue to grow in popularity, awareness, and even value in 2022. While not all of the predictions on this list will come true, at least a few of them are likely to. Consult your financial advisor to see if bitcoin should be included in your investment portfolio if you wish to join in this growing sector.
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