#MyCryptoOutlook2022 Hope and Revolution

By R23 | Supportive Crypto Community | 25 Jan 2022

Introduction

For my entry into the #Bityard contest, I feel like a coach at halftime of a basketball game talking the team and trying to inspire them after getting outscored by 30 in the first half... The crypto markets have absolutely taken a beating thus far in 2022.

However, I'm personally too involved in cryptocurrency to give up so easily, and I am assuming that most people reading this are feeling the same way about it; we are on a cryptocurrency blogging website after all.

My Outlook

So MyCryptoOutlook2022 is one of hopefulness that we are able to make a comeback alongside a social revolution headed by cryptocurrency.

We've seen this before, it is nothing new. What is new is the increased number of people spreading FUD and panicking, though the proportion of people is likely pretty close to the same it has been every time the markets have taken a dive off a cliff. I believe that we will see this all go away at the first sign of a price recovery. Market psychology is so flawed and difficult to come to terms with. If people see numbers going down, they decide to panic and that things are going horribly even though weeks before they were hoping it would go down so they could accumulate more... People always want what they don't have and this will unfortunately always be the case.

The Token Of The Year (2022)

Looking at what is available to trade on Bityard, I will keep things pretty simple and discuss where I think Ethereum will be heading this year. With all of the innovation happening around the cryptocurrency world, it is easy to start saying that Ethereum will be replaced and that web 3.0 will take over. Though this may happen one day (especially with the monster gas fees still in existence), the first-mover advantage of Ethereum is mind-boggling and they will maintain that lead easily this year.

Today alone, we have already seen Ethereum rebound over 7%, an insane amount to recover:

Well why is this happening? In addition to the markets beginning to make their climb back, Ethereum has the special privilege of being involved with numerous facets of web 3.0.

- Ethereum powers Play2Earn games like Axie Infinity

- Ethereum is the most popular blockchain for NFT sales (by a large margin) and is where most of the popular collections like CryptoPunks or Bored Ape Yacht Club reside.

- Ethereum is still the most popular smart-contract provider in cryptocurrency despite the high gas fees.

Now believe me, I am no Ethereum maximalist. I use Hive regularly and believe that the future of cryptocurrency is one without gas fees, but for my 2022 outlook, I believe that this will be an enormous year for Ethereum... I'm predicting upside of around $10000 per each Ethereum by the end of 2022. There is too much hype building in the crypto world despite this price dip to think that the most popular cryptocurrencies won't find themselves spiking in value by the end of the year.

The Rest Of The Market

With the market being down so much to start off 2022, it is like Black Friday has come 10 months early. If cryptocurrency is to be successful in the future (which I firmly believe that it will), it is almost a statistical certainty that prices will go up from here. With that in mind, picking any token that has a solid future planned out with a trustworthy team is a good bet for investing (though of course this is not investment advice).

I believe that this year will see Play2Earn gaming tokens continuing to take off and make a lot of gamers rich. We have seen this happen already with Axie Infinity and their in game currencies, and I believe that we will see this happen for dozens of games in 2022.

I believe that the game of the year will be Splinterlands. This is a game that is happening on the Hive network and they just surpassed over 1 billion rounds played. In this game, players select a team of fantasy-monsters to battle against one another based on a randomly generated set of rules and the winner receives in game currency. They have taken it a step further and are rewarding players daily with their governance token called Splintershards (SPS) based on the weight of their in game assets. I believe that the Splintershard is bound to moon when the game finds more mainstream success; something that they have already been doing as they have been featured a few times in popular media such as Businessweek.

Looking at other tokens, I think that we will see some gains throughout the web 3.0 ecosystem.

Web 3.0 is defined as the third generation of internet services for websites and applications that will focus on using a machine-based understanding of data to provide a data-driven and Semantic Web. The ultimate goal of Web 3.0 is to create more intelligent, connected and open websites. I believe that we can expect to see some movement in tokens like Hive, Polkadot, EOS, Akash Network, Chainlink, FIlecoin and more. This will come as a result of increasingly censoring and invasive web 2.0 technology as the world continues to be redefined by the global pandemic and governmental/corporate reactions to the changing landscape. 2022 will be a year of revolution and cryptocurrency will find itself playing an important role in that revolution. I believe that value will come as web 3.0 continues to innovate and we will not be able to recognize the world that we are living in by the end of the year. A bold prediction, but with the amount of technological advances we are seeing alongside the amount of social unrest, change is bound to happen... It is just a matter of when.

Conclusion

Shout out to Bityard for this contest. Check out their site, it is a good a spot as any to get in on this turnaround we will witness in the cryptocurrency market!