The last couple of years has been working in favour of the cryptocurrency market so much so that the number of cryptocurrency investors has increased exponentially. However, the year 2022 has not given a promising start to the cryptocurrencies. Does that mean this year would not be fruitful for the digital currencies? Well, the cryptocurrency market is bound to fluctuate considering how volatile it is. Taking this into account, it wouldn’t be fair to call 2022 a year that won’t benefit cryptocurrency investors just because the start wasn’t much promising. As the cryptocurrency market has evolved with time, it makes every possible sense to predict how this year would turn out for the top 10 cryptocurrencies.
As a matter of fact, a significant number of retailers are accepting cryptocurrencies as payments including Bitcoin. In some countries, athletes and politicians are receiving a part of their salary in one or multiple top 10 cryptocurrencies. This throws light on how widely are cryptocurrencies being accepted across the globe and that this year would see even more retailers coming forward to accepting cryptocurrency payments.
The year 2021 saw a good number of cryptocurrency companies going public. On the same lines, it is highly likely that 2022 witnesses even more crypto companies going public. The valuation of these companies would also be exceptionally high, as industry experts believe.
Yet another crucial aspect of cryptocurrencies that cannot go unnoticed in 2022 is that of regulation. Lawmakers across the globe are trying to figure out how to establish laws and guidelines to make cryptocurrency safer for investors and less appealing to cybercriminals. As the cryptocurrency market has served to be quite promising over the years and with investors making huge profits, it is evident that stricter regulation would not go well with the investors. Despite all this, one thing is for sure – regulation comes with hurdles. At the same time, it is very much possible that the very announcement of regulation affects the prices of cryptocurrencies in the already volatile market. There is one section of the society that believes regulation is a good thing for the industry. This is because a strict regulation would mean the removal of a significant roadblock for cryptocurrency. No matter what investors are in favour how we can expect some regulatory steps to be taken in 2022 as far as the cryptocurrency market is concerned.
NFTs, nonfungible tokens, created quite a buzz in 2021. The potential of NFTs is not just limited to eccentric digital artworks but also for digital land purchases in virtual worlds and for next-generation music ownership, licensing, and publishing. All this throws light on the very fact that the possibilities of NFTs are endless and that 2022 will see more of this coming.
The scenario seems to have changed quite drastically from crypto enthusiasts being the ones mining bitcoin to the ones profiting from its success. What goes unnoticed in the midst of all this is that with massive corporate investments, the price of cryptocurrencies shoots up like never before. This further doubts how democratic the market truly is. With corporate investment in the cryptocurrency market likely to increase in 2022 and beyond, it is likely that the prices of cryptocurrencies rise to new heights. Well, let’s wait and find out what 2022 has in store for the top 10 cryptocurrencies.
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