Forecast cryptocurrencies - is it worth checking and listening to them?

Main page » Forecast cryptocurrencies – is it worth checking and listening to them?

The current tensions in the digital asset industry somehow provoke asking more or less uncomfortable questions. Will cryptocurrency prices rise, fall, or will they continue to irritate investors in the first place? What can we say about bitcoin’s volatility? What actually affects the cryptocurrency quotes? What type of cryptocurrency will be optimal in terms of investment?

The truth is that the number of industry forecasts is directly proportional to the number of analysts operating in the market. Investors can count on an interesting adventure when looking to the future of cryptocurrencies, if the past is any clue. Nevertheless, it is worth considering whether all attempts at predestination of the market actually exist? For this purpose, we will juxtapose the most popular assumptions on the subject of crypto!

Cryptocurrency News #1 – Fall or New Perspective?

In 2022, the overall value of cryptocurrencies was to be underestimated and this situation, unfortunately, is actually reflected in reality. In November 2021, bitcoin broke its record and became worth almost US $ 69,000. However, currently, a single unit of bitcoin is valued at around $ 20,000. According to Carol Alexander, a professor of finance at the University of Sussex, the “threat” of reaching the price of $ 10,000 in 2022 is very real. Such a situation would completely wipe out most of the asset’s gains in the last year and a half.

On the other hand, Yuya Hasegawa, a cryptocurrency market analyst working for Bitbank, does not see the current situation as the beginning of the end of the market. According to him, a possible risk should be viewed as a “quantitative reduction” in the supply of cryptocurrencies through the Federal Reserve System.

Continuing, analyst Sayantani Sanyal points to the greater acceptability of cryptocurrencies by companies as a factor significantly influencing their price. For this reason, bitcoin is able to hit the price cap of $ 100,000 by the end of 2023. Interestingly, some specialists mistakenly estimated that this level could be achieved in the first quarter of 2022.

Cryptocurrency News #2 – Bitcoin Investors Increased Amount

One of the hypotheses proposed by Ric Edelman, founder of the Digital Assets Council of Financial Professionals, assumes that by the end of 2022 the number of people in the world who own cryptocurrencies will exceed half a billion. Flori Marquez, co-founder of BlockFi, echoes him, seeing the opportunity to increase the adoption of cryptocurrencies to the everyday world in the transparency of regulations and a better understanding of the industry itself.

A good example is El Salvador, which is the first country to treat bitcoin as an official tender. To this should be added the constant development of games based on blockchain technology. The gaming community, seeing what this technology is and what positives it brings, is more interested in it. This is important because we are talking about a group representing about 40% of the world’s population.

Cryptocurrency News #3 – Potential Bitcoin ETF Approval

According to some investors, this year the first bitcoin stock fund in the United States will be approved, called the Bitcoin ETF. Thus, they gained the long-awaited direct exposure to the cryptocurrency itself. It is true that representatives of the Securities and Exchange Commission allowed the implementation of the project in 2021, but then its functionality was limited to tracking future contracts on bitcoin. Nevertheless, the current size and maturity of the market allows it to fully support the cryptocurrency industry.

Cryptocurrency News #4 – Turn To Decentralized Finance

The next cryptographic solutions in the form of decentralized finance (DeFi) and decentralized autonomous organizations (DAO) should be, according to Brayan Gross, the network steward at ICHI, the areas with the greatest potential in terms of increasing the importance of cryptocurrencies. In 2021, the total amount of deposits for DeFi services exceeded $ 200 billion, and this number is only expected to increase this year.

CNBC, the world’s largest network of information channels from the financial industry, announced that DeFi is part of the trend called Web3. According to his supporters, each internet platform is actually owned by conglomerates such as Amazon, Apple, Alphabet or Meta. The idea itself applies to a specific new version of the Internet, the decentralized form of which is to include blockchain and NFT technology, but it still raises doubts among people such as Elon Musk.

As you can see, cryptocurrency quotes and related forecasts may or may not meet the expectations of analysts and users of digital assets. However, this does not mean that it is not worth using them. We are primarily inclined to educate ourselves, verify information and collide even the most extreme opinions with each other. For this purpose, we invite you to our blog where you will learn much more!

Thank you for reading the article! For the first 10 people who arrived here and will make a transaction in the exchange office by entering the code HOLIDAY, they will reduce its value by 0.5%!

Latest articles
Latest articles
kanga-blog-post-img-Black Friday at Kanga Cash!
kanga-blog-post-img-How can blockchain technology impact the HR industry?
kanga-blog-post-img-Why are cryptocurrencies so important to Nigeria