Cryptocurrencies, which performed tremendously in 2021, did not make a good start to 2022. Continuing to move in a downtrend in the shadow of macroeconomic concerns, it was a matter of curiosity whether cryptocurrencies could get out of this trend in 2022.
In the report sent to clients today by JP Morgan equity research analyst Kenneth Worthington, it was stated that the adoption rate of cryptocurrencies could continue to increase in 2022.
“Cryptocurrency markets and industry may see more acceptance from mainstream investors and companies this year.”
The analyst used the phrase that 2022 could be “the year of financial tokenization”.
bitcoinDescribing Bitcoin as a modern store of value, analyst JpMorgan said that confidence in Bitcoin is growing, which adds to its value.
Making a comparison between Bitcoin and gold, the analyst stated that Bitcoin is currently insufficient for this race due to its limited history.
The report states that considering the growth prospects for the crypto industry in 2022, the Nasdaq-listed Coinbase exchange is still a buying opportunity for the stock.
The report published by Goldman Sachs earlier this week also expressed expectations that the crypto industry will continue to grow.
*Not Investment Advice.