After nearly tripling in value in 2021, the cryptocurrency market has since receded at the start of 2022. Nonetheless, you may be considering investing in this asset class for the first time. The possibility of outperforming the stock market is clearly attracting attention to digital currency. From financial organizations to average individuals, more and more people are becoming interested in cryptocurrencies these days.
To get in on the activity, you’ll need a cryptocurrency exchange account where you may buy and trade digital currencies like Bitcoin, Ethereum, and Dogecoin. Examine this cryptocurrency exchange to see what security measures they employ, what deposit, withdrawal, and trading fees they charge, and what instructional resources they offer. It’s also critical to keep track of all your cryptocurrency purchases for tax purposes, which certain exchanges may assist with.
5 Major Crypto Predictions to Keep an Eye On in 2022
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Predicting the future of crypto assets is not an easy task. Having an overarching prediction for the full year may be difficult for a technology that is constantly improving and sees dozens of smaller trends every year.
However, it is not impossible to see a few things happen in the crypto space this year. In October 2021, worldwide crypto market capitalization reached a record $3 trillion (about INR 2,15,66,720 crore), the largest level ever.
What may stakeholders anticipate in 2022? Here are five major cryptocurrency forecasts to keep an eye on.
1) Investing in Alternative Coins Will Increase
When 2021 began, Bitcoin had a market share of more than 70% of all cryptocurrencies. However, as new coins demonstrate their actual prowess, Bitcoin’s market share will be at the 40 percent level in January 2022. What has changed?
Because of the growing number of projects established on other platforms, alt coins (cryptocurrencies other than Bitcoin) like Cardano (ADA), Solana (SOL), and even Ethereum (ETH) have found increased acceptance and purchasing. With the thriving NFT market, DeFi projects, and the future metaverse, Bitcoin is no longer the cryptocurrency market’s dominant currency.
In fact, we recommend you to buy cryptocurrencies based on the type of blockchain project that interests you. For example, if you’re optimistic about NFTs, it makes sense to invest in Ether.
We also recommend you to register an account with a reputable cryptocurrency exchange, which allows you to purchase both popular and alternative cryptocurrencies and offers a comprehensive and secure platform for managing all of your crypto assets.
2) The Rise of Non-Financial Transactions
Today, NFTs may be found all over the internet. If 2021 was all about education, 2022 is all about adoption – and with celebrities and cricketers like Amitabh Bachchan, Salman Khan, and Kamal Hassan on board, it’s bound to be a success. With the likes of Sunny Leone and Rishabh Pant on board, NFTs are on track to hit Tier 2 and 3 cities this year.
This means that if you’re a maker or a collector, 2022 could be a watershed moment for you. Whether it’s collecting well-known NFTs like Bored Apes, acquiring unique memorabilia from actors or cricketers, or promoting an obscure artist, 2018 is the most remarkable year to establish oneself as an NFT collector before it becomes too popular.
3) Some form of regulation is unavoidable
With the proposed Cryptocurrencies Bill, the Indian government is already attempting to find a method to include cryptocurrency into the legislative system, as are many other governments across the world. From billionaire Mark Cuban to the leaders of crypto exchanges in India, everyone thinks that some type of regulation is required for crypto assets. What form and shape this takes in India and around the world will be closely monitored throughout 2022.
4) The Metaverse crypto will be Accepted
In 2021, Facebook relaunched as Meta, a tribute to the metaverse, which is set to launch in the near future. While most people are still baffled or doubtful of the metaverse, recognizing the metaverse as a world where everything is conceivable will grow this year.
Imagine living the best life you can imagine in a parallel universe, all paid for with bitcoin and shared with your closest friends and family by simply accessing the metaverse. It’s closer than you think, and it’s heading straight for you, whether you’re ready or not.
5) Web 3.0 Will Have More Applications
The term “Web 3.0” refers to the next step in the evolution of the Internet, which would make the Internet more intelligent by using the potential of AI systems. This has ramifications for blockchain-based technology, metaverses, and crypto assets, which will connect even more with Web 3.0 apps as it attempts to make our lives easier and return data control to individual users.
In 2022, we will see the convergence of Web 3.0, whose primary goal is decentralization, and the crypto sector, which feeds on decentralized power, to bring even more seamless technology into our daily lives in the future.
Conclusion
As you may expect, 2022 is a terrific year for crypto assets, with many various technologies and crypto-assets merging, as well as some form of regulation that should keep scammers at bay. Bitcoin’s volatility is yet another reason for investors to play a steady long game. Don’t be concerned with short-term fluctuations if you’re looking for long-term growth potential. The best thing you can do with your cryptocurrency investment is to “set it and forget it.”
