Cryptocurrencies performed so well in 2021. Now that we are in the second month of 2022, what is next for them? Bettors are almost sure they can get 10 free spins no deposit [valid where legal] when playing various slot machines. However, can cryptocurrency investors expect any success this year? Bitcoin and Ethereum prices recorded high prices last year. As a result, more and more people joined the crypto markets.
Governments are also starting to show interest in regulating cryptocurrencies. Everyone seems to pay tremendous attention to cryptocurrencies and blockchain technology now. Regardless, the Crypto industry is still taking its baby steps. It is continually evolving and changing.
Thus, the price rise last year may happen again this year or we may register a price drop. It is hard to tell the path that crypto performance would take this year and later on. Even so, experts in the industry have something to say about the future of cryptocurrencies.
Concerning cryptocurrency regulation, expert lawmakers worldwide are working out a plan. They are attempting to create laws and regulations to make cryptocurrency trading safer and more profitable. A guideline could make investors more confident when trading. Simultaneously, the taxman in different countries wants to ensure that investors file their virtual currency earnings every year.
Everyone hopes that regulation in their country could happen soon. Lack of regulation has been a hindrance for the cryptocurrency industry. Now, everybody runs without observing any guidance or rule. If governments get it right, regulation will be a win for everybody.
Concerning crypto ETF approval, there is a huge success now. BITO Bitcoin ETF came out last year October in America. It lets crypto investors buy in on coins from investment brokerage firms they have created accounts with in the past. Unfortunately, the BITO ETF does not hold Bitcoin directly and experts do not support that.
Now it is difficult to know the number of people who will invest in BITO. However, if new crypto ETFs that are within the conventional investment products emerge, more people might choose them. They can feel safer if they can add cryptocurrencies to the portfolios they have from old stock brokerages.
Crypto ETFs have the same risks as Bitcoins. So people have to examine the risks and determine if they want to take them. By the end of this year, a company like AMC will accept Bitcoin payments. Many others in the gaming industry are already processing Bitcoin payments. Perhaps more renowned companies will adopt crypto payments this year.
Paypal is already enabling its members to buy on its platform. Tesla has gone a long way to demonstrate its acceptance of Bitcoin payments and investments. It has invested heavily in Bitcoin and other cryptocurrencies. As many more companies adopt cryptocurrencies as a payment method, there will be massive growth in the industry.
Experts think that if a prominent company like Amazon could adopt cryptocurrencies, others would follow suit. There are rumours that Walmart is already rolling out its blockchain strategy. Typical web users have not much confidence in shopping with cryptocurrencies now. In the future, however, they may not have a choice as many retail shops might accept Bitcoin as their top payment method.
Nobody can tell when that will happen, but it might soon. Based on Bitcoin price behaviour in 2021, it is prudent to maintain a smaller investment. Cryptocurrencies should make up less than five per cent of your investment portfolio. Although Bitcoin rose over $68,000 last year, it also dropped to less than 30,000 around July.
Because of its high volatility, investors should begin slowly. Since cryptocurrency is relatively young and new, there is less history to predict the future behaviour of different cryptos. So, invest what you can bear to lose.
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