Bitcoin had a great run in 2021 despite a few setbacks in May. Next year is expected to be fruitful and eventful for digital asset enthusiasts. Bitcoin (BTC) and Ethereum (ETH) are still at the top of the rankings and they are the centre of trends that will make next year exciting. Here is a rundown of all the good trends that happened in the 4th quarter of 2021 and how they affect investment opportunities in the immediate future:
Bitcoin price drops at the end of 2021
Despite the seemingly panicking traders on YouTube and social media, the Bitcoin dip is actually a frequent event. At the end of the year, its price drops down near the resistance level set a few months ago. It will then shoot up between January to March, often reaching a new all-time high. December 2021 is the best time for investors to add more Bitcoin to their portfolio or just hold onto your savings until the market is better.
The idea of metaverse was a hot topic in the first quarter of 2021 then stayed quiet for a while until Facebook, Inc. showed interest in being part of it. It is envisioned to be a platform for social interaction, Bitcoin games, and content trading. Non fungible tokens (NFTs) are bound to be the centre of attraction in the metaverse so its market is expected to skyrocket.
NFT prospects expanding
One of the biggest trends in 2021 is the explosion of the market for non-fungible tokens (NFTs). It comes in many forms from computer-generated unique avatars to commemorative items for sporting events. The most impressive of which are blockchain-based video games where NFTs are in-game assets. It is the foundation for the development of play-to-earn (P2E) games like Axie Infinity.
What’s more impressive is that social media platforms are introducing new features to help NFT investors present their portfolios. This helps investors find like-minded individuals on social media and collaborate as traders. The idea of NFTs is still not widely accepted as there is some opposition to the idea like Bitcoin did in the past. However, the development momentum for Ethereum and ERC-20 tokens is strong so 2022 is guaranteed to be a great year for this market.
Land casinos opening crypto trading floors
Bitcoin betting on online casinos and bookmakers grew exponentially between 2020 and 2021. It inspired more casino brands dedicated to crypto to launch while older sites slowly opened wallet support for virtual currencies. Land-based casinos have also considered the idea of letting patrons bet with Bitcoin for their games.
Land casinos made a few proposals to accept the new generation of customers. The first of which is designing Bitcoin games like slots with built-in wallets so players can send Bitcoin as their bankroll and claim them as winnings. Another exciting idea involves designing an entire floor for crypto enthusiasts.
The so-called ‘crypto-trading floor’ is a physical place for traders to meet, collaborate, and exchange. This idea is meant to give traders a great hub for when virtual currencies become regulated. Nevada and New York states in the United States are among the most interested in these prospects.