Financial expert Matteo Perruccio, who is the international chairman of Wave Financial, conveyed how the 2 altcoin projects can experience a significant rise in the next year and short and long-term forecasts for BTC.
Perruccio compared the innovation in crypto to both the rise of the derivatives market and alternatives in hedge funds.
“I remember the first conversation I had with people about hedge funds, they said, 'It's impossible to get absolute returns, they're all scams.' Every time I talk to my colleagues about crypto and digital assets, I hear rumors that they are scams.”
2022 Will Be The Year We See This Happen
Perruccio expects the next wave in crypto adoption to come, especially for investors seeking specialized asset managers in international markets such as Switzerland. Perruccio says the following about the new participants;
"People say, 'How can I join the DeFi evolution and revolution in the right way?' And it's not an easy thing… The actual investment process, where to hold it, and all that, and the counterparty risk is pretty complicated too."
Perruccio predicts that 2022 will be the year that a US-traded Bitcoin exchange will launch.
"Things are starting to move, and I think 2022 will be the year we'll see that happen. We're going to get banks' approval to hold crypto in many markets. We've seen India announce regulation… So I think a lot can happen."
May Reach $70,000 to $80,000 by the End of the Year
But even if the outlook for 2022 looks strong, Perruccio is cautious about his outlook for the markets;
“First of all, I don't trade crypto and there is a lot of money to be made in crypto trading, but I buy what I buy because I believe in its medium and long-term prospects. So I'm an HODLer. A few industry signals suggest Bitcoin could explode towards the end of this year. However, most industry experts think it won't reach $100,000 by the end of the year.
My expectation is it will start a bull run, it could reach $70,000, $80,000 by the end of the year, something like that. Moreover, I expect Bitcoin (BTC) to reach up to $125,000 by the end of 2022, if not a smooth journey. I believe the overall trend will be upwards over the next five years. Beyond Bitcoin, momentum is seen for two more controversial protocols, Ripple (XRP) and Cardano (ADA)."
Bullish Prospect in ADA and XRP
Veteran financial expert Perruccio has the following to say about Ripple, which has been accused by the SEC of illegally raising $1.38 billion in unregistered securities offerings;
“Remember, there has been talk of positive talks with the SEC and that is very positive news. If it does, you can expect XRP to rise quite aggressively.”
"Cardano, on the other hand, is controversial because it has leading leadership that goes against some of the fundamental principles of more decentralized and decentralized cryptocurrencies. I think Cardano has great upside potential. It's a great organization and a great protocol."