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    Crypto Review 2022

    It's hard to believe, but 2021 will soon be coming to an end. It's been one of the craziest years I can remember since getting into cryptocurrency, and I believe most others would agree. From countries accepting bitcoin to meme coins and NFTs getting huge mind share with their advertising. It was a year that had moments of extreme bulls and also extreme bears. The year went much differently than most of us expected. In fact, this was unlike any previous bull. But if you've been in the market for at least a year and managed to hold on to your coins the entire time, you're probably still doing very well. I recently wrote an article talking about 2021 in review, but today I'm going to talk about things to look forward to in 2022. The great thing about being interested in the Bitcoin and cryptocurrency industry is that every day is new and exciting. Anything can happen and more often than not, there is never a quiet moment.

    So without further ado, let's talk about things to watch out for next year, 2022.

    1) Time

    It's a very basic premise, but any day Bitcoin survives is pretty amazing. With every block that Bitcoin mines, Bitcoin gets a little stronger. When it was first launched, Bitcoin was a "crazy" experiment that had a very good chance of failure. It had an even greater chance of being regulated or banned by governments. But it was largely ignored at first, and that was the luckiest thing that could have happened. Even now, when the US government and other governments around the world are considering what to do with Bitcoin. During this slow decision-making period, Bitcoin gets stronger and stronger. To the point that it's probably too late for governments to stop it now. Even in the lowest moments, always remember that every day Bitcoin is alive and running is a bull day. There are two exits that are most likely for Bitcoin. It will go up to $1 million per coin or more. Or it will go to zero. Every day he survives makes that first outcome more likely than the last. Not even China bans it, and a massive mining exodus from that country could defeat Bitcoin.

    2)  Launch of ETH 2.0

    The long-delayed development of ethereum 2.0 finally seems to be gaining momentum. While all of ETH 2.0 probably won't be released next year, at least the proof-of-work and proof-of-stake chains will merge into one chain that is ethereum 2.0. Towards the end of the summer, we saw Ethereum upgrade with EIP 1559 and this caused a lot of bullish movement in the coin's price. I expect the hype of the Ethereum 2.0 release to generate even more excitement and price movement than this. While Bitcoin is the magnet that controls the price movement of the entire market. Lately, Ethereum has started to have its own magnet and help control the market. This means that the release of ethereum 2.0 could turn out to be a very bullish event that sends this bull market into hyperdrive. 

    3) More corporate or national adoption of Bitcoin

    In 2021, when El Salvador accepted Bitcoin as legal tender, it was the biggest news in Bitcoin history in my opinion. That's what we're all thinking and wondering if the market will ever see that kind of acceptance. While there were hiccups, which is to be expected. I think most will agree that it went much better than most of us could have expected. The whole world is watching this. They also see El Salvador being able to use bitcoin-backed bonds to raise money, which I think will be another game changer. It won't be long before other countries join in and make Bitcoin their legal tender. 

    After Tesla announced that it was putting Bitcoin on its balance sheet, many of us thought that almost instantly other companies would follow suit. It wasn't like that. Most companies owe more to their shareholders than Tesla and Microstrategy; where Elon Musk and Michael Saylor have the majority of voting rights in the company. But I can see other companies getting on board soon, especially as the new year begins and as companies begin their New Year budgets.

    4) EIP 1559

    The recent protocol update to Ethereum, which is causing much of the gas to be burned from Ethereum transactions, has caused a lot of excitement over the past few months. Literally hundreds of millions of dollars of ethereum have already been burned. So much so that ethereum has actually become deflationary. This has completely changed the game for Ethereum, and over time it will only drive the value of Ethereum even higher. In 2022, it will be interesting to see how this continues to be the narrative if ETH continues to be the case as well. Will the mainstream realize this fact and start buying ethereum en masse.  

    4) Further Development / Lightning Upgrades

    For many people, the progress that Bitcoin's layer 2, lightning, made in 2021 came out of nowhere and surprised them. Many had already written off lightning and even considered it a failure. But he proved everyone wrong, and pardon the pun, but his development accelerated at lightning speed. So much so that lightning is even used in El Salvador, where Bitcoin is legal tender. There will be hiccups as the lightning is still very young. But the possibilities here are very exciting. Lightning has the potential to someday perform 25 million transactions per second. That's enough to blow the visa out of the water. Enough to easily handle the load it would take to make Bitcoin a global reserve asset. There are some concerns that it is more centralized than Bitcoin. As the lightning continues to develop,

    5) Alternative smart contracts, level 1 

    There is no ignoring the fact that ethereum fees have been insane and this has opened the door for other alternatives to catch up. Some of these chains are Solana, Avalanche, Luna and the list goes on. There is also a huge unit bias effect. As bitcoin and ethereum become more expensive, it becomes more difficult and sometimes impossible to own a full coin. But with these three coins mentioned above, it is much easier to own full coins. However, there are trade-offs with these coins. What they gain in speed and low fees, they lose by being more centralized. However you feel, there is money to be made by investing in these layer 1 smart contracts.

    6) Mythic Spot Bitcoin ETF

    Yes, the infinite mythic US Spot Bitcoin ETF. Although a futures-based ETF was recently adopted, we are still waiting and hoping for a spot-based ETF. Whether we like it or not, the US financial market is still the largest in the world, and having an ETF in place here would do wonders for Bitcoin. If one were to be accepted tomorrow, we would probably see Bitcoin reach $100,000 very quickly. Moreover, it will send signals to the rest of the world, which will soon adopt such ETFs. Although adopting only futures-based EFT was not what we had hoped for, it was a step in the right direction. If we can take this further, it will be a very bullish moment.

    7) NFT

    And finally NFT. This was the move that surprised a lot of people in 2021. I'm still not sure how I feel about NFTs. For NFTs in general, I think they are a very cool technology that will become absolutely huge and vital in the future. That being said, I think the vast majority, 99% of NFT art or avatar pictures posted so far will go down to zero. They are the absolute definition of high risk, high reward. They could make a person rich, but you can be caught holding the bag with no one willing to buy. As a risk taker, I would more often buy cryptocurrency in general. But it will be interesting to see how this space continues to evolve. The takeoff of the metaverse could have a huge impact on NFTs.

    These are just a few things to watch out for next year in 2022. What are some things you are watching? Or maybe some things I forgot to mention? Although things may look bearish right now. I think this is only temporary and next year will really surprise a lot of people!

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    Sourcejohnwege

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