The crypto and blockchain industry has made numerous headlines over the past year. 2021 was truly an amazing year for the crypto trading market and the long-awaited and anticipated mainstream adoption seems to be closer than ever before.
There have been numerous positive developments for the crypto industry around the world. For example, El Salvador adopting BTC as the legal tender in the country has made numerous headlines in 2021.
This was a very important step towards the future development of the whole crypto industry, helping bitcoin to become more legit than ever before. Due to the amazing performance of cryptocurrencies in 2021, many have started thinking about the possible direction the crypto industry will be taking in the upcoming year.
The price of bitcoin managed to reach the highest price-points twice this year, making numerous headlines. First, the price of BTC increased in the first half of the year, trading over $64,000 per bitcoin. Another important development for BTC was in November when it hit another all-time high of over $68,000 per bitcoin.
Bitcoin was not the only successful cryptocurrency however, many other digital coins managed to have the same, if not more, success in 2021.
A very interesting thing about the developments of the crypto industry over the year was that things did not start out that good at the beginning of the year. In fact, after the first all-time high of BTC, the cryptocurrency saw some drop in price. Quickly after, however, the price increase continued, reaching new heights.
Although the volatility was very much high, cryptocurrencies still managed to stay very popular and highly discussed around the world, making the year truly significant for the crypto industry. However, traders often rely on crypto scalping bots to achieve small profit.
First Bitcoin ETF & Other developments
The year was also very good in terms of ETFs, with the first-ever bitcoin exchange-traded-fund, ETF, being established and approved to start trading on the US equity marketplaces. This was a major win for the whole crypto industry and was heavily anticipated by the industry players over the past few years.
The bitcoin ETF has been something that was being discussed for a very long time. Although there were not so many signs of it coming in the near future, it has finally become available in the US. Although other markets are yet to follow, many believe that the trend will be similar in other parts of the world, and ETFs will become more highly adopted.
Another very important development in the industry was the fact that the marketplace exceeded a market capitalization of over $3 trillion, which is an extreme increase considering the fact that the industry has a very short history. Simply put, the cryptocurrency market had an amazing year.
Predictions for 2022
The changes coming in 2022 are very hard to predict due to the volatile nature of the industry. A lot depends on the steps taken by the industry leaders and controllers, such as the central banks around the world.
While some people have very positive predictions for the industry, there are many others who believe that the price of cryptocurrencies won’t be able to have the same performance as it had in 2021.
Another very important thing that might be coming with 2022 is the further development of non-fungible tokens, NTFs. They have already made a very good presence in 2021 and their existence was felt in the market very much.
NFTs have managed to burst into the mainstream conversation following the Beeple auction of 2021 in March, after which, it has become one of the most talked-about topics in the market. Throughout the year, NFTs have managed to be huge in the market.
Many believe that the popularity of NFTs will continue to increase in the following year as well, with numerous projects being underway.
Many believe that 2022 can finally be the year for the crypto industry to become fully mainstream. This can be a very important development for the crypto market, as it has been waiting for this for a long time now. As cryptocurrencies have developed massively, many have been noting the opportunities that they can bring in the future.
Many crypto enthusiasts also believe that 2022 could be the year for cryptocurrencies to become a bit more stable. A very important thing being discussed in the crypto industry today is the price of bitcoin in 2022.
Getting correct predictions for price movements is very difficult, especially when discussing volatile assets such as bitcoin. However, still, many believe that the price of bitcoin could be surging over $100,000 for the first time in history in 2022.
This target has become very commonly discussed in the crypto industry, especially given the recent volatile price swings of this digital coin. While it is hard to make any certain predictions for the upcoming year, one thing is clear – the crypto and blockchain industry has grown massively, but there still is much more than this industry has to offer.
As the adoption of cryptocurrencies and blockchain technology increases around the world, the chances for 2022 to be another great year for the industry are very high.