2021 was indeed one of the best years for the crypto market, Bitcoin, although experiencing a serious crash currently, had a pump that led it to it’s all-time high of $69,045.00. Ethereum as we all expected still did not fall behind reaching an All-time high of $4,878.26. In 2021 we also experienced the rise of the famous meme coin, Dogecoin with Shiba Inu not far behind. Cryptocurrencies such as Cardano, Binance Coin, and Solana, are just a few coins that had an amazing 2021. In other words, I think we can all call 2021, “the year of the rise”.
In 2022 However, the crypto has started off with a bad start, with bitcoin being over 45% less than its all-time high according to coingolive.com. Below is a visual representation from coingolive that shows the top 10 best cryptocurrencies by coin market cap.
We can easily see the large red streaks in the top 10; does this mean that 2022 is going to be a bad year for the crypto market or is it going to be the best year yet?
In today’s article, I’ll run you through the top four crypto predictions for 2022. Some of these predictions are good and some are quite sad, however, they are still predictions and are not to be taken completely seriously.
1. Meme coins might be gone by the end of the year.
The writers at coindesk.com stated that meme coins are no different from casinos, with the only difference being that in the case of meme coins there are positive
feedback loops because winners draw major public interest that keeps the wins rolling. In the same way, the opposite results will bring the opposite outcome. In the current crash, we can see that asides from Ripple, no other coin in the top 15 is as far from its all-time high as Doge and Shiba Inu, as they both are 80.67% and 75.55% less from their All-time highs respectively.
2. Shiba Inu might make the transition from meme coin to an actual project.
The development of Shibaswap is basically like the other exchange platforms such as Binance, but Shibaswap allows users to swap tokens without the need for an intermediary or counterparty. This path used by Shiba might see them transit from a meme coin controlled by the tweets of a tech billionaire to an actual project.
3. More bans.
It is likely that 2022 will see a lot of countries pushing back on the crypto market. We have seen China and Iran ban the use of crypto and now Russia is currently on the move. It was also predicted that Bitcoin will see more mining bans in 2022 especially in countries with relatively low energy supplies.
However, the writers at coindesk.com believe that there is still an upside to this because this is expected to result in the pushing of more hash power toward cleaner energy, potentially blunting some of the one-sided environmental, social, and governance (ESG) criticism that blew into the mainstream this year, largely thanks to Tesla’s Elon Musk and his tweets.
I believe that as we saw popularity with meme coin in the previous year, In 2022 we are going to see a lot of people dive into NFTs. Companies like Walmart and Nike even plan on getting more involved in the world of NFTs.