Peter Smith: The crypto market will get more competitive

Peter Smith, founder of Blockchain.com, has argued that the crypto space will continue to improve in 2022, spearheaded by tokens such as Bitcoin (BTC) and Ethereum (ETH).

Not surprisingly, Smith seems to be backing the same tokens as Tesla founder Elon Musk has.

Smith said 2021 has proven a bumper year for crypto and pointed out that most investors have generated ROI in the space. He is also confident that the occasional bad apples will not detract from the momentum of the industry.

“And so, we’re going to get into a harder, more competitive environment, I think, over the next year. And that’s actually going to be net good for the market because it’s going to start separating the good from the bad” he said.

Smith predicts that in 2022 most users will flock to platforms that have the biggest spike in usage rather than those that make the best investment sense. Interestingly, though, Smith predicts that a decoupling will occur.

This refers to the phenomenon of crypto prices moving together. In future, though, there might be divergences in how asset behaves. Dogecoin soaring may not correlate to BTC going up as well.

At the same time, it’s far more likely that crypto assets will become more readily defined by law, emboldening more traditional investors to diversify into crypto.

As we wait this to happen, there are many opportunities to use crypto with Bitcasino, 1xBit and FortuneJack.

Source

Updated: 11/15/2021 — 15:00