What Do Experts Predict About The Crypto Market For The Remaining Half Of 2022?
2022 so far was just not the best year for the cryptocurrency market. During the first half alone, the most popular cryptocurrencies like Bitcoin and Ethereum face a massive downfall in their price of about 50% in contrast to their all-time highs of 2021. In recent weeks, there has been a bit of green light for the crypto market, and the market is entirely stalled for the next half of 2022.
Even though no one is certain about the future of the crypto market, many are optimistic. On the other hand, some experts have even predicted a colossal downfall of the crypto price that will be beyond recovery. According to chainlink price predictions, specific cryptocurrencies could increase their value by up to 25%.
What is the truth? What are experts’ forecasts about the cryptocurrency market for the remaining half of this year? What and what not to expect? What is the future of NFTs, Defi, Ethereum, and Bitcoin?
This article will answer all these most commonly raised questions, so tag along till the end.
What is in store for the crypto market in the remaining half of 2022?
After the catastrophic events that have taken place in the crypto market over the past few months, especially during the recent weeks, there are high chances of implementing strict regulation over the market. The lawmakers residing in Washington DC and other higher officials across the world are trying their best to establish stringent laws and regulations. This would make the crypto market a secure place for investors and less attractive for cybercriminals. So, we can conclude that there will be more conversation and headlines about cryptocurrency regulations. In addition, though we are only halfway through 2022, some reputed companies have filed for bankruptcy. This has been reflected in the action of federal regulators, as they have solid ammunition to push for crypto regulations.
Despite being a hot-button topic, experts say that implementing these new regulations could also be a massive relief for investors. The stronger the regulation, the less likely investors are subjected to cybercrimes. And with time, there is a chance of eradicating fraudulent activity from the crypto ecosystem. This way, the crypto market becomes a better and safe place for investors and industries to innovate and succeed as far as the right balance is served.
Future of Defi
Defi is not a new term for you if you are an active investor in cryptocurrency. Defi, short for decentralized finance, implies a digital world of financial services that includes cryptocurrencies and blockchains. Defi is still young, and further refinement is what you can expect for the next half of 2022. With that in mind, along with its development to a better version, we can also expect some bumps and bruises during this journey. The next step to precise is figuring out the correct codes that will push DeFi up to a much better version.
Future of Bitcoin
In 2021, the Bitcoin price was on fire; it even hit its all-time high by the end of the year. However, the cost of $68,000 in November 2021 came crashing down at the beginning of 2022. Bitcoin prices from the beginning of the year have constantly been sinking. The first half of 2022 has been the worst nightmare for Bitcoin, which includes increased interest rates, a shaky stoke market, and more. Over the last few weeks, the price has dipped to $17,500. Some experts have predicted that the bitcoin price could fall even lower to $10,000 in the coming half of 2022.
Future of Ethereum
Ethereum being the second largest cryptocurrency, faced a similar downfall. But as per the experts’ predictions, the price of Ethereum will most probably rise during the remaining half of 2022. And if this promise is kept, it will outrun $4000 and has a possibility of going up to $12,000. This increase in value can happen due to the already prepared massive upgrade for Ethereum, which is kept for September 19th this year.
Cryptocurrency is a highly volatile space, and no matter what an expert thinks or speaks, the crypto market has the potential to act the other way around. Therefore, keep your investments small for the coming half of the year. In addition, make sure you keep other financial goals above crypto investments.