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New research done by Saxo Bank Analyzed Google Trend data around the world to find out what the world wants about the cryptographic state of the world in 2022. This study was conducted before the crypto market slump that characterizes the spring of 2022, and ongoing market turmoil may impact the future, as explained in the next section, investors around the world. Action.
A survey of last year’s search data looked at the most frequently asked countries about cryptocurrencies and accurately identified where the world’s population stands in digital currencies, which coins are most interested in, and who is actively looking for them. Decrypted to replace them.
Looking at the global search volume for all crypto-related queries, the United States leads the world in interest, with 8.21% of all queries coming from the United States. This is followed by the United Kingdom at 8.10%, Canada at 7.31% and India. 6.91% and 5.97% Australia.
For various cryptocurrencies, the data revealed that BTC is a bit behind in the US market. Searches for Solana (SOL) (18.75%) and Ethereum (ETH) (14.89%) are higher than BTC (14.29%).
The survey also investigated the rise of NFTs, and despite being ranked 100th in search popularity for “what is an NFT” despite a list of celebrity owners, Americans are still I found that I didn’t fully understand NFT. They were also the countries most concerned about environmental impact and energy consumption, and were ranked highest in all regions for questions related to this topic.
Saxo also researched the world’s most popular coins, Dogecoin (DOGE) leads the pack with 18.56% of the world’s search volume, followed by 15.74% NFT and 15.71% ETH. BTC is only 5.74% of searches, not far from the bottom.
Top 20 countries most interested in cryptocurrencies:
Rank | Country | Search query percentage |
1 | America | 8.21% |
2 | England | 8.10% |
3 | Canada | 7.13% |
Four | India | 6.91% |
Five | Australia | 5.97% |
6 | Philippines | 3.10% |
7 | Singapore | 3.04% |
8 | Netherlands | 3.04% |
9 | Germany | 2.98% |
Ten | Nigeria | 2.50% |
11 11 | Malaysia | 2.22% |
12 | United Arab Emirates | 2.13% |
13 | South Africa | 2.10% |
14 | Ireland | 1.93% |
15 | France | 1.82% |
16 16 | Pakistan | 1.73% |
17 17 | Italy | 1.56% |
18 18 | Indonesia | 1.53% |
19 19 | turkey | 1.48% |
20 | Spain | 1.48% |
The most searched cryptocurrencies:
Rank | currency | Search query percentage |
1 | Dogecoin | 18.56% |
2 | NFT | 15.74% |
3 | Ethereum | 15.71% |
Four | Turf | 10.12% |
Five | XRP | 6.28% |
6 | Bitcoin | 5.74% |
7 | Solana | 4.92% |
8 | TRON TRX | 3.75% |
9 | Cardano | 3.47% |
Ten | Tether | 2.22% |
11 11 | Cryptofiat | 1.48% |
12 | Binance coin | 1.45% |
13 | Cryptomoon | 1.39% |
14 | Crypto airdrop | 1.28% |
15 | Blockchain | 1.17% |
16 16 | Initial coin offering | 1.14% |
17 17 | Coinbase | 1.14% |
18 18 | Terraruna | 0.60% |
19 19 | Cryptographic token | 0.60% |
20 | Cryptographic mining | 0.57% |
Continue to reveal various attitudes towards BTC, finder Compare the investor’s first 2022 BTC forecast with the investor’s latest forecast Bitcoin Price Prediction The report almost always believes that cryptocurrencies have room for decline, suggesting that they are likely to worsen before the situation improves.
A panel of finder consisting of 53 cryptocurrencies and Web3 industry specialists expects BTC to bottom out on average $ 13,676 in 2022 and reach $ 25,473 by the end of the year.
MorpherCEO, Martin FlorerBTC believes it will sink to $ 12,000 before recovering to $ 40,000 by the end of the year.
“It’s reasonable to expect larger projects to fail in the coming months. Retail sentiment is at historically low levels due to global economic uncertainty and inflation. Exhausting China’s outflow Highly leveraged miners who had to do will surrender and further increase downside pressure. Bitcoin prices will be even lower. “
Bitcoin’s downturn reflects market expansion, with 77% of panelists officially saying they are in the “Cryptocurrency Winter”. According to 70% of panelists, the biggest factor behind the cryptocurrency crash is the rise in global interest rates. This is followed by the collapse of Terra LUNA (68%), the tightening of the balance sheet by the central bank (47%), and the rise in inflation (40%).
However, it is arguable how long the cryptocurrency winter will last. Only 29% believe the market will recover this year, 46% say it will continue until 2023, and 24% say it will continue until 2024 and beyond.
Senior instructor Brighton University, Paul Levy Cryptocurrency winter is expected to continue until the second half of 2023, and BTC expects to end at $ 15,000 in 2022.
“Bitcoin is likely to bounce back in 2023, and in fact expectations can rise and even become more volatile. Of course, such as the war in Ukraine and its own ongoing impact on world confidence. It depends heavily on global events. “
Arcane Research Analyst, Vetle LundeBTC bottoms out at $ 13,000 and expects to reach $ 20,000 at the end of the year.
“Myriad negative forces have crushed Bitcoin’s strength … Further tightening and rewinding bad cryptocurrency debt will create a cool era after that, and investors will be more difficult. You should give in for. “
The panel’s average BTC price forecast has dropped dramatically this year. In April, the panel predicted that Bitcoin would be worth $ 65,185 by the end of the year. This means that the average forecast has dropped by 61% in just a few months.
Still important, price forecasts for 2025 and 2030 haven’t fallen so dramatically, well above Bitcoin’s all-time high of $ 70,000.
In April of this year, the Panel considered BTC worth $ 179,280 by 2025 and $ 420,240 by 2030. Today, they expect BTC to be worth $ 106,757 by 2025 and $ 314,314 by 2030.
Bullish long-term price forecasts say 50% of Finder panels are buying BTC (down from 67% in April), 40% holding it and 10% selling it. It states.
However, the panels are separated on the role of BTC. 42% classify BTC as a risk asset, 42% classify it as a storage location for value, and the remaining 15% say they do not classify BTC either.
Digital capital managementManaging Director, Ben RitchieBTC is a valuable store and believes it is worth $ 200,000 by 2025 and $ 400,000 by 2030. He says BTC can be used as an inflation hedge, but on a much longer time scale than gold and other asset classes.
ByteTree Chief Investment Officer, Charles MorrisBTC considers it a risk asset, but still thinks it is worth $ 250,000 by 2030.
“BTC is an almost pure risk asset, much the opposite of long-term risk-free gold.”
A handful of panelists including University of Sussex Professor of Financials, Carol AlexanderI think the value of BTC will eventually shrink.
“Unlike many other established crypto assets, btc is purely speculative. There is no practical value in developing Web 3.0,” she said.
Francis Bignel
