It really is the season of joy when Bitcoiner woke up to a “Santa Claus” rally that finally saw the cryptocurrency surpass the $ 50,000 mark after encountering resistance for about two weeks. With the bullish year ending happily for BTC investors, many industry proponents look positive for the outlook for the next year.
In an interview with Bloomberg today, Leigh Travers, CEO of Binance Australia, also seemed happy about how 2021 has turned out for the industry. His belief in an even more positive year 2022 is further fired.
However, the manager admitted that volatility will continue to be a part of the industry, noting:
“I am not predicting a lower volatility, because 2021 was certainly volatile. Whether it’s macro concerns or individual aspects of the crypto market … I still expect there will be a lot more interest, demand and volatility. “
Travers emphasized that another sign of market maturity is the shortening of price recovery periods that would previously have lasted years. He said,
“It is certainly no longer just the domain of early adopters. It’s going mainstream. Real buyers out there. We have certainly seen that this year with a flood of capital coming to the buyer side. We haven’t necessarily seen that in previous cycles. This was met with a lot of purchase capital. “
That can be seen in markets like Australia, which he expects to double growth over the next year, according to the CEO. He added,
“Globally we will probably move from 5%, maybe even 10% or 15%. There will be a huge influx of new entrants to this marketplace and that means dips will be bought up. “
Travers went on to argue that the crypto adoption of various countries, including Australia, will continue to contribute to the continued growth of the industry.
“One thing we have seen is that countries are really positive about regulating crypto and giving their consumers access to the innovations that blockchain and cryptocurrencies can bring. We are lucky to have a positive environment. “
The Australian government recently nodded to numerous forward-looking regulatory crypto proposals as part of its new “payment and crypto reform plan”. This includes the introduction of a license regime for crypto exchanges, a governance framework for decentralized autonomous organizations and a common access regime for new payment platforms.