Bitcoin and cryptocurrencies had a huge boom in 2021 with the combined crypto market exploding from under $1 trillion to around $3 trillion—with some predicting the market could grow much further.
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The bitcoin price soared to almost $70,000 per bitcoin late last year before crashing back to just over $30,000. Ethereum and other major cryptocurrencies, including Binance’s BNB, solana, cardano and XRP, saw similar volatility. Crypto prices have rebounded over the last week but remain highly volatile.
Now, banking giant Wells Fargo has predicted global crypto adoption could “soon hit a hyper-inflection point”—adding “it is still early in the cryptocurrency investment evolution.”