While everyone was enjoying the first few weeks of 2022, the crypto traders were finding a wall to hit their heads on because of all the market crashes.
Honestly, who would have thought that there would be a loss of $1.2 trillion USD when market capitalization was measured at $3 trillion USD only two months ago? In simpler words, the crypto market plumbed down like never before, and everyone was crying but will 2022 be a dark year for crypto traders? Well, we have all the information in this article!
The price of Bitcoin plumbed down by 41% – it came to $40k after enjoying the all-time high of $68k. It is pretty clear that it was a drastic drop in the value, but this drop wasn’t something new for the seasoned crypto holders where there was a run down to $20k back in the year 2017, which became $4k the year later. Having said that, now that El Salvador has added Bitcoin to its stash and microStrategy is buying the dip, there are high chances that Bitcoin is ready to bounce back even higher – it might even surpass the high price of 2021.
Various cryptocurrency experts have suggested that it can go over $100k, particularly if large-scale corporations, financial institutions, and national organizations keep adding Bitcoin to their balance sheets. For this reason, it’s time to hold on to https://bitcoin-up.live/ because the value will only increase!
The price and value of Ethereum fell down by 40%, which plumbed down to $3k from $4.8k. Just like Bitcoin, the Ethereum holders who were available during the crypto winter of 2018 would know how the price of Ethereum fell down to $200 after rising to $1.4k only a few months ago.
However, in the year 2022, the NFTs have become pretty big and are becoming mainstream, which means Ethereum 2.0 is right around the corner. As for now, there are high chances that Ethereum will attain the five-digit value, and some even suggest that it will spike over $20k by the year 2025.
XRP Ledger Predictions
Before it fell by 65% to $0.60, the price of XRP increased to $1.80. It is critical to remember that the XRP ledger remains some of the few cryptocurrencies that will be in the top ten range for the years to come. Currently, there is a legal feud with the SEC, but the XRP ledger still remains one of the most tested and tried cryptocurrencies in the cryptographic world.
As far as the price predictions are concerned, the prices swing pretty drastically, and it’s likely to attain the value of $5 by the year 2025, but some cryptocurrency experts are also confident that it can spike up to $20, but it will take some years, of course.
By the end of 2020, Polygon averaged at less than $0.03, but it surely gained the price value of $3 by the Christmas holidays. After thirty days, the value was reduced by 50%. To illustrate, Polygon is the representation of the next-generation blockchain, and it also provides the layer 2 scaling solutions for streamlining the high transaction throughput.
Now, with the increasing entry of crypto users, there is an increasing demand for Polygon solutions, creating more demand. According to the crypto investors, Polygon will reach $10 in the upcoming five years, and by the end of the 20s, it will be valued at $20.
Before falling to $1 at the start of 2022, the price of Cardano shot to $3. There was a hard fork in 2021, and new projects were introduced. Irrespective of this growth and new projects, Cardano is still struggling to become a mainstream choice. In the next five years, Cardano will reach $5, but there is a potential of reaching the value of $10. However, if it’s unable to gain adoption in the mainstream area, the value could plunge down lower than $1.
The Bottom Line
The cryptocurrency crash started in the early stage of 2022, and it wouldn’t be wrong to say that it’s a crash that people had never seen before. While it’s quite similar to the crypto crash of 2018, there are high chances that the cryptocurrency world will bound back pretty quickly.