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You’re probably familiar with cryptocurrencies. If not, they’re digital mediums of exchange that allow people to store value and make transactions on the blockchain.
You may have heard about Bitcoin or Ethereum and wondered how they work but then quickly dismissed them as something you don’t need to know about because they’re too complicated to understand. But there’s more to cryptocurrency than just these two well-known coins. There are many different types of digital currencies in the enormous cryptocurrency markets —some less known than others—and each has unique characteristics.
The market capitalization (the total cryptocurrency value) assets are now over $1.28 trillion, which means the amount of money invested in cryptocurrencies has surpassed other investment vehicles like real estate and gold! Because cryptocurrency is still so new, we wanted to give you an idea of what experts think will happen next with this revolutionary technology; where will it go from here? Let’s hear from experts.
The crypto market is not only a big part of the economy but also an important one. It’s growing fast, gaining popularity and becoming an area for many people and businesses to get involved in. Many experts say that cryptocurrency will be a significant part of our lives by 2022.
The Bitcoin price has fallen slightly over the past few months – but it remains above $10k per coin after its meteoric rise since 2017. Ethereum has been hit even harder – its value has plummeted by more than 80% since January 2019.
Alisa Gus (CIO at CEX.IO) said: “The economy will remember how the crypto market changed everything.” Alisa’s predictions seem right with such considerable fluctuations in cryptocurrency prices and crypto-making waves in the investment sphere.
“Bitcoin will hit $100,000!”
That’s the bold prediction from Simon Peters, an analyst at eToro. He believes that Bitcoin will continue to be the dominant cryptocurrency throughout 2022 and that its price is set to take off in 2019. The crypto expert also shared his thoughts on altcoins and how they could affect Bitcoin’s dominance in the long run.
The CEO of Binance, Changpeng Zhao, has made an ambitious prediction that bitcoin will be more valuable than gold by 2022. Since gold is currently valued at $9 trillion, bitcoin would have to reach a valuation of $1 trillion—a feat many thinks is already within reach.
The reason for this prediction? Bitcoin is much more scarce than gold, which means that its limited supply can significantly drive up its value. In addition, bitcoin can have much more significant growth than traditional assets like stocks and bonds because it’s easier to transport, dividable into smaller units (like cents), and cheaper to store in electronic form rather than physical form.
With bitcoin trading at $0.02 in January 2009, it has become the most valuable cryptocurrency by a large margin. It is also one of the best-performing assets this decade, with its price trading at over $10,000 in December 2018.
CEO of Pantera Capital Dan Morehead believes that bitcoin will become the digital gold in the coming decade, and its use as a store of value will grow exponentially.
He said, “In 1999, when Amazon started selling books online, people thought it was crazy,” he said. “Now, you cannot go anywhere without seeing something from Amazon.”
The CEO of Citibank, Jane Fraser, is convinced that CBDCs will be widely used in the future. She said:
“CBDCs are a better alternative to cash, but not Bitcoin.” CBDCs are central bank digital currencies (CBDCs). They are also referred to as digital currency or fiat cryptocurrency. CBDCs can be any crypto asset that a central bank has issued. Citibank has already started testing its version of this product called “Citicoin,” which will be available in some countries before 2022.
According to Jane Fraser, users can use their ‘Citicoins’ to make small payments instantly and securely on the Internet or store them in cold storage wallets like Coinbase Wallet and Trust Wallet. She says: “This new form of payment will be accepted everywhere.”
According to Nouriel Roubini, the world is still in a “crispy crumble” state. The economist has been predicting this since 2009, and he’s not changing his tune now. He thinks that the economy will be worse than it was in 2008—and that there’s no reason to expect bitcoin will be any different.
The global economy isn’t recovering as quickly as expected because of increasing issues like Brexit and Trump’s trade policies. There are also concerns about China devaluing its currency and Europe adopting economic austerity measures (which are just ways to avoid dealing with climate change).
There’s also a lot more debt than before the recession—if there were another crash, our financial system would fail.
Bitcoin will be the top-performing asset class in 2022, predicts Yassine Elmandjra, a senior analyst at Ark Invest.
According to many experts and influencers in the cryptocurrency space, the future of bitcoin is bright. Some think it will grow by a few hundred dollars or even thousands within the next year; others are more optimistic and believe it could be worth millions or even billions by 2022.
Some say that bitcoin might not go up in value but instead drop significantly, so you should only invest what you can afford to lose—especially if you bought into the hype without doing any research first!
Cryptocurrency is a hot topic right now, and as the world continues to learn more about it, there will be an increased demand for crypto. The experts we spoke with are optimistic that Bitcoin will remain the most popular cryptocurrency in 2022.
They also predict that crypto will be adopted by more financial institutions and become more widely used by individuals in their daily lives. CEX.IO is a great place to trade crypto because they offer competitive prices on their platform with low fees on every transaction you make!
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