Crystal ball – Arcane Research shares in a very comprehensive report “ The Weekly Update »Of December 28, 2021, his outlook for bitcoin (BTC), altcoins, NFTs, and crypto businesses for 2022. Review of the main points.
Bitcoin, its mining and its ETFs: performance, dispersion, and growth
The Arcane Research report predicts a bitcoin surpassing the S&P 500 in 2022. It will be recalled that Bitcoin recorded an increase of 73% in 2021, against 28% for the S&P 500. According to Arcane, it should repeat this performance in 2022.
Arcane also provides a growth in the amount of bitcoin held in exchange-traded funds on BTC futures, which were launched in 2021. These ETFs currently hold around 846,309 BTC, a number that is expected to pass the million mark by the end of 2022.
And finally regarding bitcoin mining, Arcane Research estimates that “ the hash rate will become even more geographically distributed “. The minors who had to leave China following the repression in the country which began in May 2021, have put their bags in other countries. This geographic dispersion of minors is expected to further increase in 2022, in regions such as Latin America.
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What does 2022 hold for Ethereum, NFTs, altcoins, and crypto companies?
Regarding Ethereum (ETH), the alternative layers to the latter will continue to outperform it in 2022. Ether recorded a gain of 455% in 2021, against 14,823% and 13,549% for terra (LUNA) and fantom (FTM) respectively, their blockchains presenting themselves as alternative layers to Ethereum.
While Ethereum continues to focus a large portion of DeFi and NFTs projects, more and more traditional game companies should embrace NFTs in 2022, according to Arcane.
The outlook for some altcoins is much less rosy. Arcane foresees a ripple (XRP) and a cardano (ADA) which will come out of the top 10 in 2022. This forecast is based on the 1,344% gains of Binance Coin (BNB) in 2021, and the market capitalization growth of other altcoins like solana (SOL), and LUNA.
But 2022 will also see other stock market entries of crypto companies. Coinbase went public on April 14, 2021. The exchange’s market cap today exceeds $ 72 billion. According to Arcane, the valuation of many crypto companies that will follow Coinbase’s example in 2022 will exceed $ 5 billion.
Early 2022 will certainly see other optimistic forecasts for some crypto projects, and heralding the decline of others. The forecast that will continue to hold the attention of much of the cryptosphere in 2022, will likely be that of a bitcoin that would (finally) touch the $ 100,000.
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