The years 2020 and 2021 were interesting for cryptocurrency. While we are still far from the full glory of this monetary system, we can expect better things for the coming years. In the context of this yearly development, experts are now speculating what 2022 would be like for crypto. There is no doubt about the technological developments that will take place, but the social and legal implications cannot be predicted. Many governments are now actively looking into the crypto scenario within their country. Many authorities are now bringing crypto within the existing financial system. Nowhere was this more visible than in the launch of Bitcoin-backed ETF. In many ways, the predictions made about 2021 turned out to be true. As expected, the Ethereum blockchain has grown considerably and investment in Bitcoin has increased.
For 2022, the major area of speculation is CBDC. CBDC or Central Bank Digital Currency is poised as a more stable alternative to Bitcoin and similar cryptocurrencies. Many governments will be looking forward to introducing CBDC in their economies in 2022. Another important speculation involves a growing number of institutional investors. While the seeds of institutional investment in crypto picked momentum in 2021, it is predicted to be far greater in 2022.
Using crypto for transactions will become more widespread in 2022. Many platforms are already cryptocurrencies, especially Bitcoins, for payment. This number is set to go up in 2022. Many interesting developments can happen in 2022, and the crypto community is looking forward with optimism.