Blockchain Outlook 2022: Blockchain Tech Maturing, Cryptos Still Volatile

Blockchain outlook 2022: Cryptocurrency price projections remain difficult

Digital coins have taken off significantly, with many investors seeing them as a viable option. What's more, regulators who once dismissed them as a fad are now giving them recognition.

Yet despite this awareness and better understanding, cryptocurrency price projections are still tricky, which can lead to major gaps between expectations and reality in the market.

“We could see lots of price movements, even sideways markets or down markets — who knows,” Som Seif, founder and CEO of Purpose Investments, previously told INN.

Watch the full interview with Seif above.

Seif's investment firm has joined the wave of cryptocurrency funds in Canada, becoming one of many to start offering cryptocurrency-related exchange-traded funds (ETFs). In 2021, Purpose Investments launched several cryptocurrency funds as Canadian ETF makers jumped on this new possibility.

While volatility is the norm for digital coins, Fred Brothers, president and co-founder of Cion Digital, told INN he expects the number of general consumers who own cryptocurrencies to rise in 2022.

Justin Hartzman, CEO and co-founder of CoinSmart Financial (NEO:SMRT,FSE:IIR), said cryptocurrency price projection is tricky because of the volatility in the space.

“Volatility goes hand in hand with this market, so there will undoubtedly be some periods of heavy sell-side pressure, but the market’s performance in the last two years has placed crypto firmly in mainstream discourse, and has further legitimized the industry as an integral part of the modern investor’s portfolio,” Hartzman said.

Blockchain outlook 2022: Blockchain opportunities gaining acceptance

Blockchain business solutions abound, but their adoption rate by established companies has long been a barrier discussed by blockchain enthusiasts.

The future may be bright for the market, though, as experts foresee increased adoption and an overall better understanding of the opportunities surrounding blockchain technology.

“Over the next two to three years you’re going to see this explosion in businesses, Fortune 500 companies, consumer packaged goods companies — all these guys are starting to adopt cryptocurrency for various reasons,” Pat White, co-founder and CEO of Bitwave, previously told INN.

Brothers noted he fully expects to see more opportunities for cryptocurrency acceptance in the world.

“We want companies to understand the value of blockchain technology and that this is the natural evolution of digital payments, and their customers are driving the shift,” Brothers said.

Blockchain outlook 2022: Investor takeaway

While the blockchain market has proven tricky to pin down in terms of projections, it’s clear 2022 may offer some monumental developments for the uses of blockchain technology.

On top of this, cryptocurrencies and NFTs may attract the attention of the masses and make market participants more comfortable with the industry and digital solutions as a whole.

“There may be some bumps along the way, but the crypto market tends to reward investors who hold with conviction, and we expect this trend to continue in the future as the digital economy’s user base grows and new use cases continue to be built,” Hartzman told INN.