While the love for crypto seems to grow, there are loopholes in the system when it comes to regulations, instability, and the fact that the whole crypto space is young.
Evidently, 2021 was one of the busiest years for cryptocurrencies. While the rise in the prices for digital tokens was recurrent, there was also a meteoric rise for the NFTs and the virtual reality space (Metaverse). Even though it is still difficult to predict the rise and fall of crypto assets including Bitcoin for 2022 and the long-term future, the growing inclination towards the crypto space certainly will reap a few productive years. Since all the currencies are relatively new, there is yet to be a statistical analysis of the incoming highs and lows. It is usually said that more maturity brings along more stability.
While the love for crypto seems to grow, there are loopholes in the system when it comes to regulations, instability, and the fact that the whole crypto space is young. This results in some very deep-seated apprehensions that disallow any regular person to invest in the market. Also, it is usually noticed that the people belonging to the low-income group refrain from investing in the market, as the chances of loss can be devastating.
Protection of Money for Investors
On being asked about how crypto investors can keep their money safe, Nischal Shetty, Founder of WazirX, suggested everyone stay away from the FOMO of it. According to him, it is pivotal for investors to not surrender to the fear and examine the possibilities themselves. While investing here is a high-risk high-reward market, one should weigh all the options keeping in mind their risk appetite.
Having said that, the predictions for crypto markets for 2022 still remain a question. According to the experts, 2022 will be a significant year for the Indian crypto environment. The development of newer and more efficient decentralized blockchain, faster and more scalable options will provide an environment-friendly perspective. The cropping up of better job opportunities for everyone will ultimately result in more acceptable solutions for the global crypto problems.
While this sounds all bright and colorful, regulations in the system must be introduced to handle malpractices in the system. This will add the desired feather of lawfulness in its cap.
Darshan Bathija, CEO and co-founder of Vauld says that the first stage for investing in crypto is to invest in the appropriate digital asset. One should make an informed decision by looking at a project’s dependability and salient features.
The Price of Bitcoin by the End of 2022
According to CEO and Co-founder of Mudrex Edul Patel, Bitcoin has transformed itself from a conjectural asset class to a store of value. The market of cryptocurrency is single-handedly dominated by Bitcoin, with every organization holding the currency for a significant fragment.
Patel thinks that one might observe the value of Bitcoin touching $100,000 by the end of the next year.
Sanaa is a chemistry major and a Blockchain enthusiast. As a science student, her research skills enable her to understand the intricacies of Financial Markets. She believes that Blockchain technology has the potential to revolutionize every industry in the world.
