In these strange times, one thing seems certain – the Bitcoin evolution has no possibility of stopping or losing momentum in 2022. This article will highlight the biggest cryptocurrency trends that you should look out for this year.
Gaming
Online gaming has enjoyed a major period of growth through the pandemic; and is growing increasingly popular in society in general. And it’s starting to play a major role in the cryptocurrency world, with the advent of many “play-as-you-earn” crypto games. Such has been the impact of gaming on the crypto phenomenon, gaming is now the most highly anticipated category in terms of trader sentiment.
The Rise of Terra (LUNA)
LUNA (also known as Terra) is an altcoin that cryptocurrency traders will want to keep an eye on in 2022. As of December 2021, LUNA is trading at a price of 88.97 USD, and well-known crypto trader and analyst Michaël Van De Poppe estimates that Terra is showing signs that it may hit higher price targets of $125 and $200 in 2022.
The Metaverse
Companies such as Meta (the artist formerly known as Facebook) have embraced the concept of the metaverse so much that they have changed their business name and introduced their plans to jump on the bandwagon of what many consider to be the ‘next chapter in the internet’s evolution’.
But what does that mean for crypto? It means that traders are likely to find that standard crypto coins such as Bitcoin and Ethereum, altcoins such as Terra, meme coins such as Doge, and NFTs will be embraced as legitimate forms of currency for the trading of goods and services.
Some vendors around the world have even begun to accept bitcoin and other cryptocurrencies as a source of payment. So crypto traders should definitely keep up to date with major crypto projects, as well as up and coming ones, to make sure they invest before the prices potentially skyrocket.
Bitcoin to hit the magic $100,000?
Digital trading analysts and traders alike have speculated for many months on when Bitcoin will hit $100,000, and many of them have indicated it will take until 2023. There are however more optimistic speculators who believe that Bitcoin may hit the target in 2022.
Elsewhere, Microstrategy, a publicly-traded business that specialises in offering cloud-based services, mobile software and intelligence, currently holds 122,478 Bitcoins, which they bought for $29,861.
It is expected that they will purchase more Bitcoin and possibly other altcoins in 2022, and considering the fact that they are the largest PLC to own Bitcoin, this may increase the price of Bitcoin significantly in 2022.
Bitcoin as legal tender in more countries
Some speculators in the crypto markets believe that Bitcoin may become legal tender in other countries in 2022, following in the footsteps of El Salvador, which did so in 2021. While some believe it might just have been a publicity stunt, many others consider that it may in fact be paving the way for crypto to become legally accepted as payment around the world.
The above information does not constitute any form of advice or recommendation by London Loves Business and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Appropriate independent advice should be obtained before making any such decision. London Loves Business bears no responsibility for any gains or losses.
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