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2022 OUTLOOK FOR BITCOIN AND CRYPTO - YouTube
Channel: CryptosRUs
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uh well it's important to remember in
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2021 bitcoin and crypto had a
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fantastic year
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even though the last few months and the
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start of the year
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hasn't been uh towards the upside
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bitcoin
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performed 60-plus percent in 2021
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and not only bitcoin you look at
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ethereum and look at the entire crypto
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market cap has more than doubled so 2021
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was actually really fantastic year
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for bitcoin and crypto overall and i
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expect more of the same in 2022 because
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if you look at the adoption the growth
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even media attention it's all growing
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and now we have even countries that are
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changing our economic policies to suit
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crypto and bitcoin
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and that's very very encouraging going
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forward
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but george i'm wondering to what extent
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the federal reserve and its plans to you
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know roll back stimulus and raise
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interest rates this year what is that
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going to mean longer term for
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cryptocurrencies
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well right now we know that inflation is
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no longer transitory and inflation is a
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real thing and right now a lot of
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companies and institutions are looking
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at hedging against inflation with
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bitcoin so short term there may be some
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volatility uh if there is tapering there
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is you know rate hikes the equities
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market does tend to react to it and
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bitcoin at times that does tend to react
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to what the equity markets also do
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but long term inflation is going to be a
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continuous issue
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and bitcoin is
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seen as the best hedges inflation at
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this point even jp morgan and goldman
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sachs have come out with studies that
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say that institutions are preferring
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bitcoin over gold at this point and i
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expect that will continue on
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now how much more mainstream does it
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becomes this year because you have
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exchanges like crypto.com you know
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taking over the staples um center and
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naming it after them now making a big
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push to get involved in super bowl ads
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so
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you know with all of this happening what
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happens to those exchanges and the level
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of interest in them
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i think 2021 because of the
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explosiveness a lot of exchanges like
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crypto.com now has the money to really
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market themselves and get the word out
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about not only themselves but also
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crypto i mean crypto.com did something
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no one thought was possible they bought
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the naming rights to
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the stadium where the lakers play and
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that was a monumental deal and it's not
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just them ftx also done the same thing
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and many others are utilizing their war
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chest their treasury now to really get
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the word out by themselves but more
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importantly get the word out about
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crypto and the more education and more
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awareness
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uh there are
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the better it is overall
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george i want to talk about where you
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think we could see
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bitcoin
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by the end of this year because the
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president of el salvador
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saying this is going to be the year
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bitcoin hits a hundred thousand dollars
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now he may have his own reasons for
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saying that since el salvador began
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accepting bitcoin as legal tender in
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september but
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where do you think it can really go i
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mean we saw it hit 60 or above 60 000
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last year before falling back a bit what
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are your expectations for this year
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i think we move towards that number and
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possibly even break it um
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you know
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obviously president naib uh
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president buchelli um he has fully
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embraced bitcoin for his country and
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many other countries like turkey and
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venezuela they're looking at adopting
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some form of either a cdbc or bitcoin
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and
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you know with adoption um and if you
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look at a lot of the on-chain metrics
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things that measure bitcoin whether or
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not it formed the top
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those kind of metrics and a lot of
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indicators
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that show that the reserves on exchanges
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continue to drop the liquid supply being
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held not by the holders and long-term
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holders keep increasing you put all
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those things together and it looks like
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bitcoin is definitely
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going to continue forward and make a new
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high and many
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feel it's above 100 000 and i do too
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no that is a very bullish estimate so it
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used to be that as bitcoin goes so does
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the rest of the crypto market we've seen
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that sort of change a little bit and
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seen ethereum also sort of take off
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where do you see that going i'm struck
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by one statistic that stood out in my
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mind if you invested at the start of
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january of last year a thousand dollars
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in bitcoin you would have returned with
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sixteen hundred bucks if you in thousand
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if you invested that same one thousand
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you would have got more than five
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thousand if you stayed in ethereum
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i would say the biggest surprise of 2021
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is uh the evolution and growth of the
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network protocols such as ethereum and
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that's because d5 and now nfts are
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simply exploding d5 is a new way for
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people to borrow and lend and trade in a
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decentralized manner outside of this
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centralized system and nfts of course is
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embraced by now celebrities and brands
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and both are exploding and here's an
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interesting statistic at the beginning
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of 2021 the total value locked into d5
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projects on ethereum was under 20
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billion dollars and at the end of 2021
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that exploded
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uh almost 10 times as high
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so the growth has been tremendous
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with ethereum but not only ethereum many
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other network protocols like ethereum
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ethereum competitors for example buying
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a smart chain terra
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solana polygon they're all exploding
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as well so i do believe that these
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network protocols or aka l1s will
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continue to have tremendous movement and
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upside in 2022
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