The head of Galaxy Investments tweeted that 2022 will be a bumper year for NFT projects. They will bypass the growth of cryptocurrencies.
His words are indirectly corroborated by the success of NFT marketplace deals. For example, according to Dune Analytics, on OpenSea, the most famous open marketplace, daily sales reached $247 million on February 1, 2022. At the same time, the total volume of transactions on the market in January was $7 billion, and OpenSea's commission fees exceeded the revenues of Uniswap DEX.
In a recent media interview, Mike Novogratz also noted that the Federal Reserve has taken a very tough stance on the cryptocurrency market. And this year, digital assets will weather the storm.
The truth is that in 2020-2021, the Fed's actions became the trigger for a cryptocurrency asset bubble. The prices of many of them have inflated to unbelievable levels.
Now that the correction has come, cottage coins have lost 50-70% of their value. Also in the first few weeks of the new year, the market became bearish and there was a lot of panic selling. So don't expect a quick recovery.
His words confirm the predictions of other experts who say it will take at least 3-4 months for the market to recover. However, by the end of 2022, the price of bitcoin could rise to six figures again.
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