Aug 1, 2022 at 07:09Crypto winter 2022 has already buried more than one crypto project, many companies were forced to freeze hiring, and some had to lay off employees altogether. Cryptocurrency prices began to fall suddenly around the beginning of April, some of which collapsed to zero. However, despite the described situation, people are still interested in the industry and have no plans to stop. Really, what if a bull market is just around the corner, right?
Crypto hype doesn’t end
According to the Global Consumer Survey “Finance & Assets,” crypto is still popular in the USA despite its collapse and doesn’t seem to have bothered investors. The research says that 18% of those who own investments also have digital assets. 15% of the total of just over a thousand respondents intend to invest money in coins in the next two years.
The chart below shows the share of U.S. respondents that have invested/plan to invest in cryptocurrency in 2020 and 2022.
The graph shows that investors take cryptocurrencies more seriously in 2022 (compared to 2020). Experts suggest that the rise in popularity of cryptocurrencies is primarily due to their earlier profits. According to Chainalysis, the total profit from cryptocurrencies in 2021 was about $163 million.
Obviously, investors just want more. But as long as the market has not moved to a steady state. However, there is a possibility that things will change soon.
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At the time of writing:
- market capitalization -1% to $1.09 trillion;
- the volume of crypto for the days is -4.9% to $72.1 billion;
- liquidation volume per day is $140.
The top five cryptocurrencies are:
- Bitcoin -1,26% to $23,427;
- Ethereum -1,45% to $1,683;
- BNB -1,01% to $288;
- XRP -2,46% to $0,38;
- Cardano -2,14% to $0,52.
Analysts at the mining company Blockware Solution believe that by 2030 10% of the world’s population will be using Bitcoin. According to their report, the growth rate of cryptocurrency popularity is faster than the development of past innovations, such as cars and electricity.
“All innovative technologies follow a similar S-curve, but new technologies are being adopted much faster than the market expects,” the report said.
The researchers are also sure that Bitcoin adoption will be achieved faster because of the direct monetary stimulus and the macroeconomic situation.
Many members of the crypto community predict an optimistic future for Bitcoin. For example, the Winklevoss twins, co-founders of cryptocurrency exchange Gemini, believe that by 2030 BTC will be trading at $500k per coin. Bilal Hammoud, the NDAX CEO, holds the exact amount forecast. Moreover, he thinks the ceiling could be higher, given that many funds are just starting to pay attention to it, and many can’t even hold it on their balance sheet due to regulations.
Sounds as reassuring as possible. Anything can happen. What are your bets, guys?
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