2027 is the year. It is a period of immense creativity and technological advancement, but it is also a period of anarchy. How will the bitcoin market look in 2027? (For those who don’t know, that’s a quote from the 2011 video game Deus Ex.)
Long-term forecasts are notoriously difficult to produce, but they make for interesting thought experiments. One year is insufficient for fundamental changes, while five years is sufficient for everything to change.
The metaverse is not going to rise.
The metaverse is a hot topic, but the vast majority of people have no concept what it entails. The metaverse is a comprehensive virtual world that exists indefinitely (with no pauses or resets), operates in real-time, can accommodate any number of people, has its own economy, is produced by the players themselves, and is distinguished by unprecedented interoperability. In theory, any application may be integrated into the metaverse, including games, video-conferencing programs, driver-licensing services, and so on.
Wallets will evolve into “super applications.”
These days, an active decentralized finance (DeFi) user must deal with dozens of protocols. Wallets, interfaces, exchanges, bridges, and lending protocols abound, and the number is expanding by the day. Even for sophisticated users, having to deal with such a diverse set of technology is inconvenient. Such a condition of affairs is all the more unsatisfactory in terms of widespread adoption possibilities.
It is excellent for the average user when a maximum number of services may be accessible through a limited number of universal applications. When they are linked directly into their wallet, they are the best option. Storing, swapping, transferring to other networks, staking – why bother visiting dozens of separate sites to access such services if they are all available at the same place?
Bitcoin will become a unit of account comparable to the US dollar or the Euro.
Money serves three functions: it serves as a mode of payment, a store of value, and a unit of account. Many cryptocurrencies, particularly stablecoins, are used as payment. Among cryptocurrencies, Bitcoin (BTC) and, to a lesser extent, Ether (ETH) are employed as value storage. However, the US dollar remains the world’s primary unit of account. Everything, including Bitcoin, is measured in dollars.
The true triumph of sound money will be announced when cryptocurrencies take on the role of a unit of account. Bitcoin is currently the leading contender for this position. A win of this magnitude will represent a significant mental shift.
At least half of the top 50 cryptocurrencies will lose ground.
There is a good chance that the top cryptocurrencies list may change dramatically. Outright zombies, such as Ethereum Classic (ETC), will be removed from the list, and projects that appear to be invincible will not only be dethroned, but may possibly vanish entirely.