It remains to be seen whether or not the cryptoverse is at the beginning of another crypto winter, or bounce back is in the books
Overall demand for cryptocurrencies looks to rise, as people add this new asset class to their portfolios and acquire them to power transactions on-chain
From the OG crypto, Bitcoin to entrants like SHIB and Dogecoin, this article covers some predictions made by experts in the crypto world
By almost all measures, 2021 was a year for the record books in the crypto markets and for blockchain. At its peak in November 2021, total cryptocurrency market capitalization reached close to $3 trillion USD. It is hard to imagine that just two months later, the market cap has plummeted 40%, wiping out more than $1.2 trillion USD in the process. Depending on market stabilization – opportunities may be abound for cryptos that have taken a hit.
Bitcoin (BTC) Predictions
Bitcoin price has dropped 41% from an all-time high of $68k down to sub-$40k in the last few months. However, such drastic drops are nothing new for seasoned BTC holders, who saw a 2017 run-up to $20k, only to watch it fall below $4k in the years following. With headlines like Microstrategy continuing to buy the dip, and El Salvador continuing to add to their stash, Bitcoin seems well-positioned to bounce even higher than its previous 2021 high. Several experts have weighed in and suggested that it could go beyond $100k – especially as financial institutions, large corporations, and governments continue to add this asset to their balance sheets.
Ethereum (ETH) Predictions
Perhaps best known to new entrants to crypto in 2021 as the NFT blockchain, ether price fell 40% - from $4.8k down to sub $3k. Like Bitcoin, ETH holders who were around during the 2018 crypto winter will remember that 2017 saw ETH rise to $1.4k, only to plummet below $200 in the following months. However, with NFTs continuing to rise and reach mainstream, and Ethereum 2.0 on the horizon, many catalysts are in line to jump-start this chain back to its 2021 heights. Many see ETH hitting five digits (more than $10k) by 2025, with some suggesting that it could one day reach over $20k.
XRP Ledger (XRP) Predictions
XRP price rose to more than $1.80, before falling 65% to around $0.60 today. It’s important to remember that XRP remains one of the few cryptos that continues to sit in the Top 10 four years after the 2017 ICO craze. These days, while Ripple is busy with a legal brawl with the SEC, XRP remains one of the most time-tested cryptos in the space. Within the XRP community, price predictions swing wildly, with some believing that the crypto will stay a sub-$5 currency through 2025, while others are confident that it could break the $10 mark and possibly make its way to $20.
Polygon (MATIC ) Predictions
Averaging less than $0.03 through the end of 2020, MATIC saw its cryptocurrency reach close to $3 following the Christmas holiday. 30 days later, the crypto has fallen almost 50% in price. Polygon represents the next generation of blockchains – providing Layer 2 scaling solutions which enable high transaction throughput. As more users enter crypto, the need for Polygon’s solutions tend to increase – creating increasing demand for its services. Bullish investors see MATIC reaching $10 in the next five years and possibly over $20 towards the end of the roaring ‘20s.
Cardano (ADA) Predictions
ADA price shot up to almost $3, before falling briefly below $1 to start 2022. For Cardano, 2021 saw the implementation of the Alonzo hard fork, and an introduction of several new projects. Despite this, Cardano continues to struggle in capturing the mainstream. While new projects are launching, none have had significant mainstream press. Most experts have ADA hovering sub-$5 in the next five years, with a potential of reaching $10. Others think that it could even fall below $1 over time if the ecosystem cannot eventually gain mainstream adoption.
Litecoin (LTC) Predictions
2021 saw Litecoin slightly surpass its 2017 highs, getting close to $400. Litecoin price has since dropped 75%, briefly dipping below $100. Once known as the silver to Bitcoin’s gold, Litecoin has remained relatively quiet in comparison to its peers. Despite this, the team has been continuously improving the network to increase speed, reduce cost, and overall make the blockchain safer. Such updates make it an attractive platform for some. However, it probably will not be the platform of choice for most. Modest growth is expected over the next 5 years, and many supporters believe it will eventually trade between $200 and $300.
Dogecoin (DOGE) Predictions
What once began as a joke has now become one of the hottest and valuable cryptos in the world. Reaching an all-time high of almost $0.70 during 2021, DOGE captured the mainstream with its lovable mascot and support from Elon Musk. This coin shows no signs of stopping, even though it is now trading 80% off of its all-time highs. With its recent acceptance as a form of payment by Tesla, and Musk regularly tweeting about the coin, many experts believe that DOGE could eventually cross $1 as it makes its way into mainstream territory.
Shiba Inu (SHIB) Predictions
Not to be outdone by DOGE, SHIB price also saw an astronomical rise in 2021, seeing its value propel to $0.00008 after seeing much of the coin spend much of its time in the $0.00000004 range to start ‘21. Celebrity-wise, SHIB has ties with Vitalik Buterin, who famously once burned over 410 trillion SHIB tokens. Vitalik had also donated a significant amount of funds denominated in SHIB during the pandemic, of which $100 million was recently returned to him. With such a transaction, and Vitalik’s continued association with SHIB, we may see this cryptocurrency continue to climb during 2022 and beyond.
BNB Predictions
BNB has many use cases within Binance and outside of it. In 2021, BNB price climbed close to $700. However, it has since fallen over 40% to below $400. Despite this, it is important to realize that as crypto goes mainstream, BNB will continue to play an important role for those looking to buy, sell, and trade cryptocurrencies. Usable to settle transaction fees, travel expenses, lending, rewards, and more, the future of BNB looks bright as its utility and the overall industry continue to expand. Experts see BNB potentially crossing $1k – with some even taking a position that it may go over $2k in the next five years.
Cryptocurrency Predictions for 2022 and Beyond
The “cryptocurrency crash” which started in early 2022 is something that those that have been around crypto for a while have seen before. With some similarities to the 2018 crash, it remains to be seen whether or not the cryptoverse is currently at the beginning of another crypto winter, or if cryptocurrencies will quickly bounce back later this year.
However, as blockchain technologies and cryptocurrencies continue to develop and offer new features, functionality, and capabilities – mainstream adoption looks increasingly likely in the coming years.
In such a world, overall demand for cryptocurrencies looks to rise, as people add this new asset class to their portfolios and acquire them to power transactions on-chain. With this, total market capitalization for the industry is poised to break its 2021 highs of $3 trillion, BTC is well positioned to break $100k and fulfill its vision of being digital gold, and all other cryptos which will be needed to power critical infrastructure and daily life will be pulled up along with this growth.
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