Cryptocurrencies have been making waves in the investment world in recent years, and as more companies across the globe make moves to accept them as a means of payment, they are becoming more attractive to wealthy investors than ever.
This added layer of functionality has sparked a dramatic surge in interest amongst seasoned traders and would-be investors alike, with the launch of various cryptocurrency trading platforms and communities like Crypto Genisus making it easier than ever for just about anyone to get involved. In 2022, we can expect to see the number of cryptocurrency holders reach an all time high as confidence in this volatile market continues to grow – but which ones should we be investing?
Here, we take a look at the digital assets battling it out to become king of the crypto world in 2022, from the obvious to the not-so-obvious.
Bitcoin
Perhaps the most obvious inclusion is, of course, Bitcoin. The original cryptocurrency, and currently, still the most successful, we can expect to see its star continue to rise in 2022 despite reaching an all-time high of $64,000 in April of this year and moving slowly but surely back in that direction since plunging to 50 percent of its value back in the summer. Experts are predicting that it could even climb as high as $100,000 by the end of this year, and while Bitcoin’s volatile market history could mean that another crash is soon in sight, it has already shown some impressive resilience in its ability to recover quickly.
Whether or not it can continue to show the same level of promise over the next year remains to be seen, but the general consensus seems to be yes. As more industries move towards accepting Bitcoin as a means of payment and with the currency now accepted on Wall Street, it’s influence and reach are growing – and as we reach an even greater level of acceptance over the coming months, its value could continue to surge.
Ethereum
Ethereum may have demonstrated a rather underwhelming performance in its early years, but that hasn’t stopped the experts from tipping it for longer term success. As it turns out, it seems they were right to do so, as just this year, we’ve seen it start to make some dramatic gains. At the time of writing, this up-and-coming cryptocurrency has reached an all-time high value of $4,507, and experts predict that prices could exceed $5,000 by the end of the year. The intensity of its current pace of growth is outdoing even original top dog, Bitcoin, leaving many excited about what the future may hold.
Granted, when compared with Bitcoin’s value it is still relatively small fry, but those who invested early will no doubt be preparing to celebrate. Once again, we’re wise to expect some market volatility over the coming months, but based on Ethereum’s performance this year, things look promising.
Dogecoin
Hotly tipped as the next big thing by Tesla boss and renowned investor Elon Musk to be the next big cryptocurrency to watch, Dogecoin has found itself under the spotlight of late, but those looking to make some substantial gains on their investments will need to be prepared to play the long game.
Nevertheless, the budding digital currency has generally been on the rise of late after a period of sustained decreases, stoking fears of a cryptocurrency bubble.
Originally launched as a parody currency via an online meme, it tends to appeal to investors thanks to its status and popularity with celebrities and across social media platforms like Twitter and Instagram.
At the time of writing, and despite its recent gains, the value of Dogecoin has fallen overnight by 2.89 percent, showing that investors will still need to be wary of volatility – although for many, it’s precisely this volatility that makes it quite such an attractive prospect. Its value has moved up and down rather dramatically in the wake of news headlines and celebrity tweets – but in order for it to ever truly have intrinsic value, scalability and security issues will need to be effectively addressed.
Binance Coin
Another currency that has seen a huge increase in value over the past twelve months, this little known digital asset might not yet be on your radar, but by the end of 2022, it likely will be. A product of cryptocurrency exchange and trading platform Binance, developments within the platform have seen the value of its innovative new coin gradually begin to climb, with its current value standing at $603.82.
Just how far it can go, nobody is quite sure, but it’s certainly one to watch. Sometimes, the most profitable cryptocurrencies to invest in are the ones that take you by surprise, and this might just be one of them.
Disclaimer: Investing money carries risk, do so at your own risk and we advise people to never invest more money than they can afford to lose and to seek professional advice before doing so.
