More crypto market forecasts for 2022.
It is worth noting that the value of the crypto market has tripled, from below $ 800 billion (January 1, 2021) to around $ 2.2 trillion today.
At the same time, the decentralized financial markets (DeFi) and non-fungible tokens (NFT) also showed good improvements, signaling that this year will post higher profits.
Forecast 2022:
More crypto legislation
The government will not give up finding a way to enforce the law because of concerns over cybercrime and wants to increase protection for retail investors.
China has implemented first by banning the crypto industry in stages before absolutely banning all crypto trade and mining in the country.
But for the Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), including several other supervisory agencies have no plans to block crypto instead want to tighten the law.
More Bitcoin (BTC) ATMs
The number of Bitcoin ATMs recorded a good increase since 2015 and recorded the highest number of installations in 2021.
It is reported to date as many as 33,000 Bitcoin ATM machines have been installed worldwide.
Bitcoin ATM machines make it easy for investors to make BTC purchases using credit or debit cards, making accessing these crypto assets easier.
An improving crypto environment
It is expected that more Proof-of-Work (PoW) -based blockchains will switch to Proof-of-Stake (PoS) this year.
One that is ready with PoS is Ethereum. This step will probably produce a domino effect in the crypto industry.
If it is true that PoS consensus growth is brisk this year, the crypto industry will get an unexpected response even if Bitcoin still remains with PoW.
Bitcoin price volatility
2021
The price of Bitcoin is like a roller-coaster:
April - recorded all -time highest value (ATH), $ 60,000
July - drops below $ 30,000
November - increased to almost $ 70,000
December - is below $ 50,000
It is expected that this trend will continue for a long time following the crypto market which is not fully ‘mature’.
There are opinions that say this BTC price volatility is a favorite of experienced investors because its price fluctuations offer arbitrage opportunities.
ETF approval
The first Bitcoin Exchange Traded Fund (ETF), BITO was launched on the New York Stock Exchange (NYSE) in October.
Its launch saw trading volume up to nearly $ 1 billion on the first day, giving a positive picture for the long term.
While the SEC finds it difficult to approve ETFs, the presence of BITO carries a positive signal for 2022 and beyond.
