2022: A year in view.

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Written by

Dzoelx

Crypto guy|freelance writer|computer programmer

2 years ago

In community: Cryptocurrency and Blockchain(7b7f)

Topics: ETH, Blockchain, BTC, Blogging, Ethereum, ...

Fortunetelling is a cool gift, not one I wish to have anyways. If anyone truly have the ability to predict the future with a hundred percent accuracy…it’s certainly not me, lol. Anyone with such gifts should share a similar position with Elon Musk, financially. Sports games are hard to predict, but the crypto space is multiple folds harder to predict. A fast and steady moving space, a nightmare for anyone with poor risk management habits. One could easily go from ‘genius’ to ‘dumb’ in a few seconds.

When moon? I wish I always knew. Talking about moon; we went to the moon and back in 2021. Those green candles, orgasmic! I for once thought the whole world was buying bitcoin and altcoins only. But still, only about 10% of the world’s population own a cryptocurrency. What about the other 90%?; again, I wish I knew.

2021 was a bliss, personally my (small) investments tumbled many times and for someone who tried out stocks for a short while, it’s amazing to see money grow! No matter how diversified you think your portfolio is; fact is, you only invested in a very tiny number of projects…relatively.

We just stormed past a year that recorded the greatest number of new cryptocurrency projects. On an average, over 20 new cryptocurrency projects came to life daily. MemeCoins majorly, but still some blue-chip projects with amazing technologies.

I’d say, last year was a year of pumps…and dumps. The crypto total market capitalization soared above [] trillion. Jaw dropping when you remember we were way below a trillion. Will we continue to see more greens this year? Again, I wish I knew!

We made a number of Predictions for the last year; like Harry Houdini, we were over 80%. Those were easy guess anyways! Ripple’s court case continues as we enter another year. No end in sight as a matter of fact, but Garlinghouse and his team are looking good on this one.

New year, new expectations, how do you expect things to go in crypto space this year. I’d love to read your predictions in the comments section. Before that, I’ll share mine first.

Big Year for Tether?

Bitcoin’s biggest flex over fiat is its finite supply. There will ever be twenty-one bitcoins; while many argue this, it is a fact. In contrast, fiat in circulation will be on the increase as long the printers work and world’s paper supply doesn’t dry up.

However, the popular argument is that bitcoin and cryptocurrencies’ growth in price is fueled by ridiculous minting of stableCoins pegged to the United States dollar by bitfinex’s Tether. Over 72 billion dollars worth of tether exist. Majority of these were printed over the past few years; during this time, cryptocurrencies’ prices have soared. The strange thing is the obscurity of the backing of these stables produced.

These events have drawn attention of analysts and regulatory bodies. Any well-meaning investor should be concerned as well. With rumours of a pending court case and regulation, 2022 could be a turbulent one for Paolo and the whole Tether team.

Will Ethereum’s competitors do the flippening?

I paid about $80 in gas fees to unstake my tokens from a staking pool. Intially, over $40 was paid to stake these tokens. Approving and swapping them on Uniswap cost another $200. If you did the maths; that’s well over $300. After staking my tokens for a few months at an APR of 25%, I only earned about $600 worth of tokens in reward. Well, call that $280 net profit. America’s ridiculous taxing system isn’t even as brutal as this!

Ethereum is by far the most innovative blockchain projects, other similar projects struggle to catch up with the rate at which new developments come to the smart contract blockchain. Ethereum’s success is getting the better of it.

Similar projects which have managed to develop a way to make fees cheaper are fast rising in value. The ‘ethereum killer’ phrase is as popular as ever. Will we see ethereum lose its position in 2022?

I predict, NO. With layer-2 solutions blowing hot and ethereum 2.0 nearing release, the higher chances is ethereum retaining its position and challenging bitcoin for the alpha position. Becoming number one isn’t a possibility in the near future though.

More new cryptocurrency projects?

The crypto space grows with each new project that emerges, and with each new concept, the scope of blockchain and cryptocurrency applications also widens, this is evidenced in the rapid growth experienced since 2013 as cryptocurrencies have become one of the notable economic disruption of the past five years.

The number of cryptocurrency projects have grown significantly since 2015 and the trend has continued since then. Till date, the number of new cryptocurrency projects have been overwhelming, one could hardly keep track of them, only few of these new projects are currently listed on popular cryptocurrency trackers, in the real sense, there are over ten (10) thousand cryptocurrency projects currently, this number is even poised to get much bigger with time.

Creating and running cryptocurrency and blockchain projects have been pretty much simplified as the technology has continued to grow. We will probably see an influx of brand-new cryptocurrency and blockchain projects this year. And maybe the death of many old ones, who knows…again, I wish I do.

El Salvador will keep smashing it!

A bitcoin city is getting built in El Salvador. Zero taxes…can’t mention all the perks but amazing things have been happening in the central American country since they adopted Satoshi’s technology.

A school built with profits from bitcoin and now a whole city! The whole world continues to watch Nayib and his team; they continue to write their names in history. It’s hard to say what will come their way in 2022, but I predict they will continue to make and finish big moves.

More National bans or acceptance?

Asia and Africa’s biggest nations continue to crack down on cryptocurrency and related activities. The fate of this technology is having a tough war with the centralized government and system. In a few other places, cryptocurrency is getting more accepted. Contrasting events in different locations. How rough will it get for cryptocurrency? More bans or more acceptance? I’ll go with the latter…but hey, it’s only a Prediction.

How will crypto fare in 2021? I wish I could say for sure, that will make me very special…I’m not. But maybe you are, so over to you. Share your predictions for the new year!

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