Many surprising cryptocurrency phenomena will occur throughout 2021. It is believed that in 2022, the performance of crypto assets will be even better with the new ecosystem.
After 2020 there will be DeFi and in 2021 there will be NFT and also Metaverse. All of that will not be left behind, even though a new ecosystem is formed.
Not only about the ecosystem, after the movement from the country of El Salvador to make Bitcoin a legal tender, of course other countries will follow suit.
During 2021, Bitcoin will become more and more mainstream. Oscar saw ordinary people who usually don't know what Bitcoin was, started to hear and began to realize its existence. Not only that, Bitcoin has also been used as foreign exchange and also the entry of institutional investors.
In the past, countries have never considered Bitcoin as foreign exchange. However, this year, the country of El Salvador, which will reportedly be followed by other South American countries that have been tied to the USD, is considering Bitcoin as their country's foreign exchange.
Regarding the IMF which has given quite a lot of statements against Bitcoin, Oscar feels that in 2022 the market will be immune and the IMF's opinion which is sometimes quite challenging for crypto is not something that can really move the market.
Bitcoin has often been declared dead since its inception. I think the IMF statement that contradicts the existence of crypto will not have much effect. What will be quite influential is how the country will make bitcoin as foreign exchange or not. We can also see that the Institution has also plunged in and the waves are quite big. If the price goes down the institution will buy it up. If this is done continuously for a long time the supply of bitcoin will continue to run low.
Not only Bitcoin, Ethereum will skyrocket in 2022. As is well known, Ethereum has evolved into Ethereum 2.0. With this evolution, the speed, efficiency, and scalability of the Ethereum network has also increased so that it can process more transactions and reduce congestion.
In technology, price, and the actual ecosystem Ethereum has outperformed Bitcoin. Ethereum is great the ecosystem is also amazing and it is used in the world of institutions too. But the problem is whether Ethereum will be able to scale up again or not to reduce transaction costs because the gas fee from Ethereum is the key. If in 2022 the developer of Ethereum can lower the gas fee, I think there is a possibility that Ethereum can turn off the Bitcoin lap.
Based on market data on December 28, 2021, Ethereum has gone up about 480%.
Ethereum's performance in 2021 was very good, it even touched its all-time high of 68 million in November 2021.
In 2021 many parties will discuss the Metaverse and NFT trends. The trend of NFT depends on the success of Metaverse. Therefore, according to him, Metaverse will play a major role in NFT and the crypto world in 2022.
When it comes to the Metaverse and the digital world, the money will not be centralized. The money will certainly be digital and decentralized. That will drive crypto. It's the same as when we talk about NFT. Digital painting on NFT is as expensive as anything if it doesn't have a function what is it for. However, if we live in a digital world and have expensive NFT digital assets, it will be very useful. Therefore, in my opinion, if this Metaverse trend can take off, then NFT will also take off. If NFT without the Metaverse will only be limited to hype.
