2021: the Year of the NFT's!

2021: the Year of the NFT's!


Introduction: 2020: the bull is back.

One of the mayor trends in the crypto currency world of 2020 was projected to be the Non-Fungible Token market. Yet, it was Bitcoin and the (Ethereum) DeFi (Decentralized Finance) market that enjoyed the benefits of the 2020 early bull market phase.

Compared to the 2017 retail bubble, the current crypto bull cycle has only just started and is driven by Wall Street and Big Money such as institutional investors and companies like Grayscale and Microstrategy. Bitcoin is now on the radar of every human being on earth who wants to preserve some of his wealth during the outcome of the Covid-19 pandemic triggered global economical shutdown: a 1930's style depression, a prolonged period of lower economic growth.

Willem Middelkoop's Big Reset might be just around the corner as this pandemic is the ideal excuse to make postponed but necessary monetary changes, which will eventually lead to the end of the (1944) Bretton Woods USD Reserve Currency system.

What will follow is the next phase of the financial system, one in which money in coin and paper form will be replaced by digital peer-to-peer currencies built on distributed ledger technologies. Blockchain or not, these central bank digital currencies will need to be interoperable with the already tested Chinese National Digital Currency (DCEP), now legal tender in China. With its digital contender, China is clearly aiming at reserve currency status during this decade.

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Forecast: 2021: Bitcoin becomes "harder" money than gold.

2021 is the year that Bitcoin will surpass 10% of gold's market cap of $11+ trillion at current spot prices. Assuming that central banks will continue to print more currency, the gold market will grow on itself, giving more growth potential to Bitcoin. You can expect gold, silver and crypto currencies to go up, driven by similar investment strategies. Any portfolio should contain gold, however Bitcoin and other crypto currencies are the fastest horses.

2021: incoming NFT mass adoption.

The new financial system will be beneficiary to all things digital, as we are creating the internet of value and money. 2 Billion people who don't yet have access to formal financial services, will become their own bank thanks to the power of fintech applications, running on blockchains, on their cheap Chinese smartphones.

"Given the potential gamification enabled by NFTs and other “fun” elements not currently manifested elsewhere in crypto, it’s been predicted that NFTs will be the on-ramp into crypto for as many as 4 in 10 new users. If 2020 was the year of DeFi, 2021 could be the year of NFTs." Gregory Keough.

The market leader Enjin Coin (ENJ), is still down more than 70% from its $0.464609 all time high in Jan, 2018. Number 2 Decentraland (MANA) suffered a similar blow of 70% from its all time high of $0.267814. Both have a market cap well above $100,000,000. Number 4, WAX (WAXP), took a 98,7% blow of its all time high of $2.77.

Enjin Coin also leads when comparing social media, such as Reddit subscribers, Telegram users and Facebook likes.

Disclaimer.

This article is by no means financial advice.


CryptoBible00789
CryptoBible00789

Interested in cryptocurrencies and global financial system.


The wonderful world of NFT's
The wonderful world of NFT's

In this blog I'll write about the current and future shape of the NFT-tokenized world.

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