After the “boom” of 2021, the uptrend in cryptocurrencies may not be over and could continue this year, despite the periods of uncertainty and investment reluctance we have seen. 2022 could be a particularly important year, especially and finally with a stronger participation of German investors.
Investment trends in cryptocurrencies
Despite the volatility of cryptocurrencies in recent months, digital currency adoption could continue to surge in Germany and globally in 2022, attracting interest from a growing number of investors and institutions.
A striking example here is El Salvador, which became the first country to accept payments in Bitcoin in 2021. Also the online gambling sector, if you look at e.g. B. in the 21 Casino online games paid with crypto, must not be ignored here in the emerging crypto sectors.
In Canada, a permitted ETF (Exchange Traded Fund) is buying bitcoin on behalf of investors, and investors in the US are also expected to see a similar exchange-traded fund authorized in the US in 2022.
And then there are the financial institutions and the private and public companies: recently it was announced that PayPal will launch its own cryptocurrency, and even the salaries of the mayors of New York or Miami are now being paid in cryptocurrencies.
It is no coincidence that more and more companies are taking advantage of the challenge and the most innovative applications to offer many opportunities to investors. Recently, WhatsApp decided to allow US users to send and receive payments through the Novi e-wallet developed by Facebook-Meta, following this philosophy.
What can we expect in 2022
The year 2021 has also led to a greater awareness among Germans that cryptocurrencies are not a scam or some kind of “gambling”; rather that behind the digital currencies is a revolutionary technology, namely the blockchain, which is penetrating many areas of our lives.
After the record growth of the cryptocurrency market in 2021, the new year also promises important prospects for the crypto sector. According to Goldman Sachs, Bitcoin could reach $100,000 in 2022, a forecast based on the surge in investment in BTC as a liquidity reserve and a hedge against inflation.
Others, on the other hand, recommend keeping a close eye on Ethereum because with the final move to PoS, the ETH ecosystem could attract new users and establish itself in the realm of decentralized finance applications, NFTs and DeFi.
Another cryptocurrency that should not be underestimated is Cardano, which, despite the correction of the last few months as a possible opponent of Bitcoin, is considered the most efficient and least energy-intensive crypto token.
Source: Plato Data Intelligence: PlatoData.io
