In 2021, the glimmer of hope had become instrumental in keeping everyone sane. Lite Coins were booming, and everyone felt that silver lining was close in the long tunnel. But 2022 happened.
The first month of 2022 was welcomed with a massive outcry from most crypto investors. Unfortunately, it involved a lot of tears and broken dreams.
On the other hand, newbies welcomed this year with a more open mind applying advanced crypto trading strategies while everyone is panicking. A lot of cryptos have gone cheaper, and it is high time for them to invest their money in the ideal crypto they want.
Here in Tradersdepth, we have established a love-hate-love relationship with crypto at the start of 2022. For a myriad of reasons, but here’s why.
The Delta was just the start. The third wave of the COVID-19 Pandemic is the integral factor why stocks and crypto were sinking like the Titanic. Borders were shutting down, and a lot of people got stuck in the cold snow and sick. It’s a pandemonium taking place after the holiday season.
Despite all crypto investors lamenting from their stocks, a mooning upstart crypto started in late November named OMIC, after the Omicron variant. It’s a tasteless joke, pun intended.
But this Lite Coin smiled through the trenches and mooned since December. On November 29, it bulled the crypto market at 700,000 USD per coin. One Day trading crypto strategy is keeping in touch with current events, and OMIC is one reason why timeliness is one key to success in the crypto market.
There are over a trillion dollars in crypto-centric stocks in a single month. This was the same pattern as to how the Delta variant became a viral disease last June 2021. It’s the same old deal, but not everyone was affected by the stock deprecation.
Why is NFT Unaffected?
While the Crypto market was plummeting like a meteor during Omicron’s peak, Non-Fungible Tokens were drastically increasing. During the OMIC peak, the 2021 percentage increase for NFTs was 226%. In addition, the number of Axie Infinity players was increasing.
This side of crypto is mooning while the world weeps. If we’re really honest with each other, NFTs are just memes for sale. The difference between Crypto and NFT is it can be anything. With literally anything uploaded on the Internet, like the Twitter founder’s first tweet, or a turn-based role-playing game like Axie Infinity, NFTs are like the modern equivalent of storing gold. However, even gold can depreciate.
Another reason why NFTs thrive is that cryptos thrive on the prosperity of coins. NFT providers profit from trading scarce and limited coins. Users can contribute to the net value of NFTs as well. If you bought a guitar from John Mayer, it would appreciate as much as buying NFTs from Veve, which is the NFT provider of Marvel. There are also other providers of popular NFTs out there.
NFTs are unaffected because it is a unanimous method to sell your rights online. If you have artwork or something that can hold value on the web for a long time, you can sell it online. It is like trading rare magic: the Gathering cards, Pogs, or NBA cards on the Internet.
NFTs are also the main reason why Ethereum is increasing in stock nowadays. Most NFTs are ETH-based, so there will be an appreciation of the value of ETH and Ethereum Classic soon.
What’s also surprising is that Metaverse technology will be an instrumental event for unpredictability in the climate of the Internet soon. Most of us will interact differently once Metaverse is in full swing this year.
The GameStop incident will also have its first anniversary on April 20. This will definitely affect cryptos that support medical and recreational usage of cannabis. Still, it will also be an integral date for DOGE and SHIBA, which revolutionized the cryptocurrency market last year.
It’s not how overnight successes like OMIC, NFTs, DOGE, and SHIBA will change the world. It is the slow acceptance of the masses to welcome crypto in their lives. Transferring cashless would be integral in a germophobe, contactless society.
The pandemic is just a starting point for technological innovations. If SpaceX and other rich countries like US or Russia engage in a space expedition, money transfer via Internet will be the solution when another pandemic breaks out.
For now, we will hear fragile green supporters whine over how the crypto market will be a factor in carbon emission. But crypto is on its primitive stage. Ten years of new technology is a short time.
The working class must be open-minded about technological innovations. Carbon emissions from crypto miners may harm the world, but we will see innovation for safer crypto and energy mining soon with tech rapidly advancing.