In 2022, the prices of cryptocurrencies will continue to fall, the governments of different countries will begin to restrict the crypto market, and the usual coins will be replaced with NFT around the world, experts say. Read more about cryptocurrency forecasts for 2022 in the material.

World crypto crisis

Many experts predict that the cryptocurrency market will soon face a crisis. Earlier, the head of the analytical department of AMarkets Artem Deev spoke about this. According to him, the crisis phenomena both in the United States and in the global economy as a whole will grow, and will affect cryptocurrencies, which are likely to continue to fall in price.

Konstantin Kuznetsov, Managing Partner and COO at Advice Finance, also agrees that the crypto market will decline.

“It is worth noting that despite the globally growing trend, the market will also face correction waves and more than once we will see the cryptocurrency market fall from 10% to 30%, followed by buybacks and new global highs,” the expert explained.

The rapid development of decentralized finance has every chance to end as quickly as it began, says Aaron Chomsky, head of the investment department of ICB Fund. However, non-fungible tokens will come to the fore.

Investors' attention will be mainly focused on gaming applications and projects related to the metauniverses (NFT is used there), which will become an additional driver of the segment's growth. DeFi fade into the background, and it looks like it will be NFTs that will pull the entire cryptocurrency market ",

- said Aaron Chomsky.

Experts also noted that in some countries, cryptocurrencies may be banned altogether.

Prohibition of cryptocurrency in the Russian Federation

Geopolitics is an important factor affecting the ban of cryptocurrencies, says Konstantin Kuznetsov, Managing Partner and COO of Advice Finance.

"For example, countries that disagree with US policy will continue to officially prohibit and search for ways to regulate cryptocurrencies, and in particular bitcoin," the expert explained.

A part of developing countries and third world countries that are neutral or friendly to the US geopolitics are likely to recognize each other and create a legislative infrastructure for cryptocurrencies.

"If we take into account Russia, then most likely the policy towards cryptocurrency will be the opposite of the policy of the States," Kuznetsov said.

Efim Kazantsev, a member of the Commission on Legal Support of the Digital Economy of the Moscow Branch of the Russian Lawyers' Association, also agrees with this forecast.

“The industry both in Russia and in the world will develop in one way or another. Unfortunately, the trend in Russia is rather pessimistic. The state, represented by the Central Bank of Russia, has taken an unequivocally negative stance towards cryptocurrency. Therefore, most likely in the short and medium term, additional restrictions, obligations and bans await us, ”the expert believes.

According to him, due to restrictions, many domestic crypto projects will prefer to move to places more favorable for life and development.

State bodies will strive to further strengthen control over the cryptocurrency sphere, said Maxim Vlasov, co-founder of maXmining.

“But here the golden rule will be applied: if you cannot win - take the lead.

Russia is between two fires - China has banned, the US is expanding capacity. Most likely, Russia will not prohibit mining.

With such enormous natural resources and practically limitless electricity, Russia can develop this area with minimal costs, ”the expert explained.

According to Chomsky, due to the mining ban in China, many miners were forced to move to other countries, including the United States, Russia and Kazakhstan. The governments of these countries will try to cooperate with miners, as this will allow them to get more money in the budget.

“They still do not fully understand how exactly they should regulate this new area. Attempts have already been made in Russia to determine the legal status of cryptocurrencies, but the status of mining is still ambiguous. The State Duma Committee on the Financial Market proposed adding mining to the register of entrepreneurial activities, and this idea pleased the Ministry of Finance, the Ministry of Economic Development and the Ministry of Energy. Apparently, next year we should expect the development of this initiative, "- said Chomsky.

New coins

According to Vlasov, companies such as Microsoft, Telegram, Apple and Meta will actively develop their cryptocurrencies.“They have their own ecosystems, on the basis of which they can safely build a financial system. The exchange of goods and services will be of paramount importance here, because it is important for people being in different parts of the world to interact and transfer any funds to each other. Naturally, cryptocurrencies in this case are the easiest, fastest and most optimal and cheapest way to do this ", - the expert explained his point of view.

In the next 3-5 years, many corporations will master the cryptocurrency not only from the point of view of a payment instrument, but also embed their own projects into the blockchain infrastructure, Kuznetsov confirmed.

“The closest example is the gaming corporation Ubisoft, which plans to embed NFTs in game universes to develop an in-game digital asset market. The same will happen with the development of the metaverse, most likely we will hear something similar in Zuckerberg. Whether this will be the development of the Demi ecosystem, formerly called Libra, or it will be something new, we can only observe, ”the expert believes.

Kazantsev, in turn, has doubts about the launch of tokens from Zuckerberg and other companies. “In the United States, Libra will not be allowed to launch, as in other countries that have chosen the path of strict regulation or even a ban on crypt.

Meta is too serious a player to allow him to have his own cryptocurrency.

Most large states quite reasonably see this project as a threat to their own financial system, ”the expert explained.

According to him, you should also not expect your own coins from other tech giants in the foreseeable future.

“If small and medium players can still be allowed to indulge in their own tokens, then it is dangerous for large players to allow this,” Kazantsev concluded.

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