A Great Year for Cryptocurrencies. What will 2022 Be Like?

The 2021 year is best remembered for several significant events in the digital assets world.

Well, for one thing, new crypto applications have become rather popular. At the largest auctions, the sales of NFTs (or non-fungible tokens) at the largest auctions hit all-time highs. On the second occasion, such big websites as Microsoft and Expedia have begun to accept the king of cryptocurrencies Bitcoin as a means of exchange. And thirdly, El Salvador was the first to adopt digital currency as a legal one.

Cryptocurrencies gained ground in the year ending. With this in mind, let’s take a look at what comes next in 2022?

2022 is predicted to be the year of the more prominent Bitcoin acceptance as a payment method, regulatory scrutiny, and surge in NFT activity.

World’s favorite digital coin

The Bitcoin phenomenon is complicated to understand. According to the latest researches, Bitcoin is widely supported by individuals across the globe for the following reasons:

• trusted system;
• bitcoin is on everyone’s lips;
• accessible and hassle-free online platforms to make transactions;
• risk and return balance;
• great performance expectations.

These and many other factors fuel Bitcoin’s popularity. It is expected to be the mainstream in the nearest future. Today, even beginners in crypto trading can get advice on price fluctuations and further market movements from savvy investors in online communities like Twitter.

New platforms to trade and exchange crypto continue to emerge. The already existing platforms and crypto infrastructure are constantly being updated and invested. These factors make digital assets more accessible and spark interest among investors.

Institutional bodies sentiment is changing

The European Investment Bank (EIB) recently has issued a digital bond on the Ethereum blockchain for €100 million. Such big players of financial world like Goldman Sachs, Banco Santander, and Société Générale were involved in the process. According to studies, institutional adoption became a turning point and was evidence that regulatory bodies became more favorable to cryptocurrencies.

Regulators seem to be getting used to Bitcoin realities. The European Council has previously announced its position on the crypto markets. A more straightforward concept of crypto and DeFi regulation will lead to greater acceptance of Bitcoin.

NFT picks up popularity

2021 has seen a sharp jump in NFT sales. It’s a digital proof of ownership for any digital art.

NFT sales are hitting new records. Recently the famous Sotheby’s auction raised $17.1 million. This prompted the auction house to launch Metaverse, a marketplace exclusively for NFT. It makes the sales of digital works easier.

With a growing number of apps to buy NFTs, asset popularity will continue to grow in 2022.