Cryptocurrency has been going through a rather tough and uncertain phase over the past few months with the price rollercoaster refusing to go up. However, Crypto.com is exhibiting rather intriguing optimism in saying that by the end of this year, one billion people will invest in cryptocurrencies. It cannot be denied that investing in crypto requires a massive supply of optimism to wade through the waves of uncertainty that hit every now and then. Whether Crypto.com is right is a question that only time can answer. For now, the plight of the market, in general, doesn’t augur well for crypto’s future. However, with crypto, it’s always prudent to follow the phrase, “expect the unexpected(in both positive as well as negative sense). Read along to know more about Crypto.com’s prediction concerning the future of crypto.
The What and Why
Crypto.com’s prediction that about one billion people will invest in crypto by the end of 2022 comes at a time when the crypto market is going through a rather dull spell sequinned with a continued loss in value. Moreover, the figure suggested by Crypto.com is more than triple the amount in comparison to last year as per the company data, making the target rather lofty.
The uncertainty which is an inevitable characteristic of crypto was augmented when Bitcoin saw a loss in value up to 45 percent after a massive high in the month of November. The event has already brought back flashbacks of 2018 and the drawn-out bear market. Despite all these which extinguish the flame of optimism of a good majority of humans, those supporting crypto are still convinced that there is light at the end of the tunnel. How long the tunnel is a question that is yet to be answered. Nevertheless, the prediction by Crypto.com further underscores this conviction. Crypto enthusiasts haven’t backed down from promoting crypto and urging people to invest in the same.
Investment analyst, Gritt Trakulhoon thinks that 2022 “is going to be the first year where you cannot say cryptocurrency is not mainstream anymore.”
Another important fact to keep note of is that a good majority of people who invest in digital assets have a speculative mindset tinted with hope for favorable returns in the long run. However, the uncertainty clouding crypto is neutralized to an extent by the number of high-profile figures and celebrities accepting and adopting crypto. This might act as a catalyst for people to invest in crypto. But the fact remains that for those stepping into crypto for the first time, it is not going to be an easy voyage. Chances are high that crypto might face more distressing spells of uncertainty and volatility, particularly with the increase in Federal Reserve borrowing rates. Despite the number of stones in the way, crypto bulls are still not giving up their hopes for the future and whether their expectations and hopes manifest into reality remains to be seen.