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2021 in Review: The Events That Shaped 2021, Bitcoin and Altcoins Price, What Investors Should Expect in 2022

Bitcoin

2021 was a huge year for crypto adoption and significant achievements, and this momentum might continue into 2022. Here we take a look at the events that shaped 2021, the price performance of Bitcoin and Altcoins, and What Investors Should Expect in 2022.

Here Are the Major Events That Shaped 2021

January: Bitcoin rose above the $40k mark for the first time in its short history. Ethereum surpassed its Jan. 2018 all-time highs of $1417.

February: On February 19, Bitcoin hit $1 trillion in market value for the first time. Tesla invested $1.5 billion in BTC purchases and adopted it as a payment system. PayPal announced that its US customers can now pay global merchants with cryptocurrency.

March: Cardano (ADA) protocol, announced that the “Mary” protocol update will be applied to the mainnet on March 1.

April: Dogecoin (DOGE) rose to become then the fifth-largest cryptocurrency by market capitalization after an impressive rally. Turkey announced a new ban rendering any crypto payments solutions and partnerships illegal. Coinbase debuts on Nasdaq’s direct listing.

May: The boom of dog-themed tokens, Shiba Inu spiked 2500% to reach highs of $0.00003999. Just before Elon Musk made his “Saturday Night Live” debut, Dogecoin rallied. On May 8, the day of Musk’s SNL appearance, Dogecoin hit an all-time high of $0.76.

June: El Salvador passed a new law to adopt Bitcoin as legal tender, becoming the first country to do so.

July: $530M unlocked shares in the Grayscale Bitcoin Trust (GBTC) impacts Bitcoin’s price. Over 16,000 BTC were unlocked on July 18.

August: The London upgrade that had the Ethereum Improvement Proposal (EIP) 1559 went live. DeFi platform Poly Network was hacked with over $600 million stolen initially.

September: The People’s Bank of China confirmed its continued crackdown on cryptocurrency. Bitcoin plunged to lows near $40k as the market dipped.

October: Shiba Inu rose to all-time highs of $0.000088, making an entrant into the top ten. The boom of Gaming and Metaverse-themed tokens following Facebook’s rebrand to Meta. The first futures-based Bitcoin ETF made its market debut.

November: Taproot, a highly anticipated upgrade to Bitcoin, went into effect. Bitcoin rose to all-time highs of $69,000.

December: Terra (LUNA) rose to all-time highs past $100. Market crash on Dec. 4, causes more than 20% erased from the valuation of Bitcoin and Altcoins.

Bitcoin and Altcoin Prices

Bitcoin was trading at $46,054 down nearly 30% from all-time highs of $69,000. The entire crypto market is painted in red as of press time as the market reflected on China’s earlier crypto ban.

Shiba Inu is a top gainer for the year 2021 while trading at $0.000033. Another two top gainers of 2021 were Solana (SOL) and Terra (LUNA). SOL gained 9,500%, while LUNA gained 13,000%. Significant investments and ecosystem growth boosted the immense gains for the two tokens.

Non-fungible tokens, or NFTs, found their breakout year in 2021 despite existing since 2014. The bulk of sales came in the past 12 months, surpassing $14 billion in December. The gaming sector took the helm from DeFi that saw the most addresses connected in the first seven months of the year. The Sandbox (SAND), Axie Infinity (AXS), Enjin (ENJ), Illuvium (ILV), and Ultra (UOS) have surpassed Bitcoin in gains for the year.

What Investors Should Expect in 2022

ETH Transition: In 2022, Ethereum plans to transition from “proof of work” to “proof of stake” (PoS), which will alter the landscape for Ethereum miners.

Growth of NFTs: NFTs had a breakout year in 2021, but experts believe the best is yet to come. Brands will start actively participating in the Metaverse and NFTs. Coca-Cola, Campbell’s, Dolce & Gabbana, and Charmin released NFT collectibles in 2021.

Adoption: In 2022, even more, crypto-intensive businesses will go public.

DeFi Insurance: To protect users from hacks, viable insurance protocols guaranteeing users’ funds against security breaches will emerge in 2022.

Image Credit: Shutterstock

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