Events in the crypto space are ticking at a mile a minute and expect the next year to keep up with that pace, as big businesses exit their pitch, blockchains improve their technologies, and easier entry points to allow newcomers to enter. After a very active 2021 in the bitcoin and altcoin market, experts are sharing their predictions for the industry next year.
In short, what happened in the crypto market in 2021?
According to experts, the crypto economy will surpass $7.5 trillion in 2022 and most jobs will be partially in the metaverse. Consider what happened in 2021: El Salvador adopted the leading cryptocurrency Bitcoin as legal currency. Individual investors stepped in. China has stopped crypto mining. Facebook has entered the metaverse where WallStreet has seen dollar signs.
Digital currencies are now on their way to becoming a part of mainstream finance. As the US approved its first Bitcoin futures ETF, crypto leaders urged regulators to set clearer rules for the $3 trillion industry. These developments, which emerged when the pandemic began, created a storm of excitement among investors.
Top 13 predictions for the Bitcoin and altcoin industry in 2022:
After the groundbreaking developments in the industry in 2021, industry experts predict what 2022 will bring for cryptocurrencies:
Tom Higgins, CEO of wealth management platform Gold-i, predicts that the price of leading altcoin Ethereum will rise much faster than Bitcoin due to the Proof-of-Stake (PoS) transition.
According to Mike McGlone, chief crypto analyst at Bloomberg Intelligence, Bitcoin could gain the upper hand against stocks in 2022.
Brandon Arvanaghi, CEO of crypto startup Meow, says that a leading Fortune 500 crypto firm will announce that their official headquarters is in one of the competing metaverses.
Justin Banon, co-founder of the decentralized network Boson Protocol, makes the unsurprising prediction that the metaverse will be the new interface for people to interact with each other.
Brock Pierce, the head of the Bitcoin Foundation, claims that a war will begin and its parties will be local metaverse-based games and corporate companies such as Meta.
According to Rohit Talwa, CEO of insight and research business Fast Future, the market cap of the crypto-economy will rise from a peak of $3 trillion in 2021 to over $7.5 trillion at some point in 2022.
Benjamin Whitby, who oversees regulatory affairs at decentralized finance cross-chain protocol Qredo, claims the world’s first billion-dollar hack will occur next year as DeFi activity continues to rise.
According to Fast Future’s Talwar, at least 25 countries will be using a central bank digital currency by the end of 2022. These coins will either be issued by themselves or by another country, such as China’s digital yuan.
Investors will use bots to make purchases during NFT minting events, which could potentially disable less knowledgeable users, said Ethan McMahon, economist at blockchain data platform Chainalysis.
Shane Molidor, chief revenue officer of digital asset finance platform AscendEx, thinks most people will run their day-to-day business partially on the metaverse base.
Chris Stephens, head of fraud and security analytics at the Callsign identification platform, predicts that banks will look to crypto to detect fraudulent trends.
According to Nick Saponaro, co-founder and CEO of decentralized payments ecosystem Divi Project, First Game Offerings will become popular. The CEO expects larger organizations like GameStop and Epic to start gaming at some point in 2022.
According to Witek Radomski, co-founder and CTO of blockchain platform Enjin, adoption will be much slower if countries take a hostile stance.