2021 was a strange year for cryptocurrency, to say the least. To quote the great Charles Dickens, “it was the best of times, it was the worst of times”. We started off the year with great anticipation. By the time Bitcoin hit $67k, we all began to have visions of sugarplums dancing in our heads. Once we enter the world of crypto, we foolishly tend to see every ATH as proof. Whether that be proof of adoption or even proof of acceptance. Yet we forget how insular the world of crypto really is. Sure, more and more people are familiar with crypto, and you seem to meet people who have “invested” in crypto. Yet the more you dig, you realize that most of the world has no basic understanding of these new digital currencies. When people say they have invested, what they mean is they have thrown $50 or $100 into some memecoin. That’s not actual investing. When the coin doesn’t pump in price like they expect, they quickly get disillusioned with blockchain and cryptocurrency all together. Yet we continue to press on, even in the face of large losses. Why?
I, and hopefully you as a reader, understand one basic concept. Blockchain is the future! (Yes, this is my username for a reason). There exists a small minority, and I realize every day how small it really is, who understands the massive potential for blockchain technology, and ultimately cryptocurrency. Each year we get closer to mainstream adoption, and once that happens, early investors will be rewarded handsomely. The world is filled with crypto haters who constantly harp on the losses yet fail to see the overall growth and upward trend. Once that day comes, it will be too late for those who spent their days as skeptics. I hope you will choose wisely.
For 2022, I predict an uptrend and breakout for altcoins. We may call it altcoin season, but I think that the big guys such as BTC and ETH will struggle. Just like stocks, large cap cryptocurrencies are now influenced by economic and political factors. As chaos continues to unfold around us, investors will stay away from these traditional juggernauts. This leaves space for altcoins to rise as platforms and utilities are built and developed. The one I am keeping an eye on for 2022 is MATIC built on the Polygon network. Since Polygon exists as a Layer 2 on top of Ethereum, it will rise in prominence and value as Ethereum has laid the ground work as one of the most utilized tokens, despite its high gas fees and other flaws. ETH has first-mover advantage in the market and has dominated the utility space, particularly NFTS. MATIC will soar on the back of ETH with updated technology, faster network speeds, and lower gas fees. I look forward to loading up my bags and watching them increase in value. I can’t wait to see how they look when 2023 rolls around!
Whether you’re a seasoned veteran or crypto “noob”, make sure you get in as soon as possible. Make sure to visit https://www.bityard.com/ and explore their platform for crypto trading! I hope that 10 years from now you’ll look back on 2022 as a great year because you wisely invested in cryptocurrency! #MyCryptoOutlook2022 With BitYard