According to economists, the crypto world is likely to undergo significant changes. Bitcoin may plummet and the digital yuan will emerge in the global cryptocurrency market. Notably, the first projects aimed at developing China’s digital currency turned out to be successful. In 2022, the digital ruble may become the digital renminbi's main opponent. The Central Bank of Russia plans to pilot-test its CBDC in the near future. This project is called financially promising. Analysts expect national CBDCs to compete with digital assets. Existing bans and restrictions create advantages for state currencies but this is likely to end sooner or later. According to forecasts, ethereum may overtake bitcoin’s dominance in the market. It is highly likely to happen if the Proof-of-Stake protocol completes the phase of testing. Miners are likely to benefit from this because transaction costs and the amount of energy needed to protect the blockchain network will be reduced. As a result, ethereum may outperform other major payment systems. Mikhail Malyshev, CEO of the Teza Technologies hedge fund, forecasts that bitcoin is likely to hit $500,000 in 3-6 years. At the same time, the leading cryptocurrency may gradually lose its dominance. Malyshev expects bitcoin to comprise one-tenth of the cryptocurrency market share in 5-7 years. However, the digital asset may start declining earlier.
