Bitcoin Prediction: Crypto to be ‘more competitive’ in 2022?
Bitcoin and Ethereum are two of the most popular cryptocurrencies. Bitcoin is a digital asset and a payment system invented by Satoshi Nakamoto. Ethereum is a decentralized platform that runs smart contracts. Both bitcoin and Ethereum have seen their prices rise in recent years. Bitcoin reached an all-time high in December 2020, while Ethereum reached an all-time high in January 2021. Many analysts believe that bitcoin and Ethereum can continue to grow rapidly in the remainder of the year. Blockchain.com founder Peter Smith has said that 2022 will see more competition coming from the crypto industry. Smith believes that this competition will be good for the market, as it will help to distinguish right from wrong.
In the long run, Smith sees huge potential in blockchain technology. He believes that by 2022, organizations will begin to draw on outside crypto platforms with far greater usage growth as opposed to just investment numbers. These variables will distinguish “compression machines” from crypto platforms with “real value for technology.”
As Smith pointed out, institutions are starting to explore non-Ethereum and bitcoin options. “We see the volume and flow outside of Ethereum and bitcoin in our institutional business today,” Smith said. “And it happened much faster than we could have imagined. That will affect prices.”
Some players with extensive Defi applications are joining the market. For instance, Solana (SOL-USD) has risen in value as the market benefits from improved blockchain performance. Although it was once called the “Ethereum killer,” experts have started to doubt that title’s accuracy, it is still one of the top cryptocurrencies because of its user-friendly element.
Right now, everything in the stock market is interconnected. So you have this happiness and satisfaction when trading stocks, and there may be a slight difference between two assets on any given day. But overall, everything is usually following the same pattern… I think that next year we will see a change in the market where there will be a division between asset classes.
Javier Niskanen is a crypto investor who is passionate about helping others achieve success. He has a background in computer science and has been involved in the crypto world since early 2017. Javier is excited to see how blockchain technology will change the world for the better.