It all might have started with bitcoin, but today there are thousands of coins you can invest in. The buying and selling of cryptocurrencies will be mainstream in 2022. Investors have seen so much success with cryptos so far that even when the crypto market crashes, they don’t lose faith that it’ll pick back up soon.
If you have been keeping up with the best performing cryptocurrency, i.e., bitcoin was valued at over $60,000. Then this year it fell to $18,000. But this is considered to be good. Some investors buy a crypto coin based on predictions about when the value will go up.
We will discuss the top crypto predictions, but if this is an excellent source, you want to go deeper. There are many possible predictions for the future of crypto. One prediction is that Bitcoin and altcoins will be so big that they will not be traded on exchanges but via peer-to-peer transactions. Another prediction is that Bitcoin will take over fiat currencies as the world’s reserve currency and changes its name to “Bitcoin World”. Yet another prediction is that a quantum computer will break the security of blockchain technology and cryptocurrencies, making them worthless. In 2023, we might find out who predicted the future correctly.
Table of Contents
Top 6 Crypto Predictions In 2022
1. Bitcoin Will Become More Popular
Ric Edelman, the founder of Edelman Financial Services, predicted that by the end of this year, more than 500 million people worldwide would own bitcoin. His prediction is backed by Flori Marquez, the Co-founder of BlockFi. She says that FOMO will be the tipping point for many investors. With bitcoin becoming increasingly mainstream, curiosity will encourage people to educate themselves on the workings of cryptos and how profitable they are.
Once people understand that cryptos are the future, they will start investing in them. And bitcoin, the most popular and trusted coin, will automatically become many people’s first choice.
2. A Lot Of Memecoins Will Disappear
Shiba Inu, Safemoon, and Squid (from the popular Netflix series ‘Squid Game’). We saw how Squid coin lasted while the show was hyped and memes were trending. Once the hype died, the crypto coin was attached to it. The most popular meme coin is Dogecoin, launched after the dog meme became popular.
This is the main problem with meme coins; when the meme dies, so does the attached crypto coin. So unless you know how to make a profit while the meme is trending, investing in meme coins is not for you.
So as more and more of these memes lose their relevance in 2022, many of the meme coins based on those memes will disappear.
3. Ethereum Will Give Bitcoin A Tough Competition
Coinpedia bases its predictions on the fact that ethereum is preparing for its big transition to ethereum 2.0. They expect the value of this crypto coin to reach over $12,000, giving tough competition to bitcoin. Ether already outperformed bitcoin once in 2021, so it isn’t as difficult to believe that with the new version of ethereum, it might happen again.
You could also consider that the NFT sales are doing exceptionally well for ethereum. This gives the cryptocurrency the proper boost to beat bitcoin once again.
4. Crypto Will Become More Accepted As A Mode Of Payment
In 2021, many businesses will adopt cryptocurrencies like bitcoin as a valid mode of payment. This increased the value of bitcoin in the public eye. As more people accept that cryptocurrency is just as good as fiat currency, the overall value of cryptos will rise.
It is a valid crypto prediction that cryptocurrency will become more mainstream than ever in 2022, and more businesses will accept it as a proper mode of payment. Because without cryptos being recognized as a payment source, they will be worthless.
5. Crypto Will Become A Legal Currency In More Countries
If you’ve been keeping up with all the crypto news, you must be aware that in September 2021, the nation of El Salvador adopted bitcoin as a legal tender. This eventful day will go down in crypto history as a starting point for cryptos becoming recognized as legal currencies.
Alexander Höptner, CEO of 100x Group and BitMEX, has predicted that in 2022 at least 5 countries will follow the lead of El Salvador and adopt cryptos and legal tenders.
6. Central Banks Will Issue Their Own Digital Currencies
Because cryptocurrencies are decentralized, anyone can create their cryptocurrency. Governments see cryptos as a threat to fiat currencies. The nation of China has been leading the way in introducing central-bank-issued digital currencies.
There is already an ongoing debate about the regulation of cryptos. This adds to that conversation about whether a decentralized currency is a good idea.
Conclusion
Cryptocurrencies have become popular in a very short amount of time. Whether this popularity is here to stay or are cryptos just going to disappear into thin air just like any other trend is something nobody truly knows.
Experts make their crypto predictions by looking at the performance history of cryptocurrencies, but even then, there is never surety in their predictions. The predictions might come true in a month or a year, but when we look at the far future, no one can be sure where cryptos are headed. Are they getting involved with Web3 and genuinely becoming the future of currency, or are they just a trend that will die down after all this time?
Crypto is not always easy to understand and predict. But these future crypto predictions can be used as a baseline for your forecasts.
And let’s say they do make it into the future; how many of the existing cryptos will survive the race? If you’re putting all your faith in a crypto coin, how can you be that it’ll continue to bring you good results after 10 or 20 years?