TO THE MOON WITH CRYPTO! WILL THE PRICE OF BITCOIN REACH US$100,000 IN 2022?
Despite the fact that bitcoin has piqued the interest of many investors since its creation, a large percentage of first-timers just tried it out in 2021. In the history of bitcoin, this year has seen a number of significant events. It hit an all-time high in a matter of days and then plummeted in a matter of days, only to stabilize at a modest level. Price volatility, on the other hand, is nothing new in the cryptocurrency world. Despite the continuous fluctuations, crypto investors are anticipating a significant shift in bitcoin’s price. Yes, I’m referring to the $100,000 milestone.
For bitcoin investors, the previous several weeks have been difficult. Many people were concerned about the decreasing trend, which kept them on the edge of their seats. Surprisingly, not everyone is concerned about bitcoin’s declining value. Many expert investors are aware that the cryptocurrency market is extremely unpredictable, and that such price drops will only help bitcoin develop and reach new highs. Bitcoin is managed by no central authority or central bank and is based on open-source software.
This is a major factor in its price fluctuations. Many crypto investors switched their investing approach and tried their hand at bitcoin when cryptocurrencies hit an all-time high of US$65,000 in mid-April this year. Bitcoin’s price is completely determined by market investors and trends, therefore it has the potential to surpass $100,000 in the future years. But it’s uncertain if that will happen in 2022. Institutional investors, on the other hand, may become the main driving factor behind bitcoin value in 2022, according to renowned crypto personalities.
Bitcoin So Far
When Satoshi Nakamoto, the pseudonymous creator of Bitcoin, released the first blockchain whitepaper in 2008, the world was exposed to Bitcoin. Bitcoin was created as a decentralized digital token to compete with government and central bank-controlled fiat currencies.
Bitcoin, as the first cryptocurrency to enter the market, remained relatively unknown for a long time. Only in 2017 did the digital token get the attention of conventional investors, who realized they had lost out on huge growth. Despite a number of setbacks along the way, bitcoin has thrived and developed a thriving ecosystem. What began as a basic investing strategy has grown to over $2 trillion in value. Following bitcoin’s popularity, crypto exchanges now trade over 11,000 cryptocurrencies, including stable coins and altcoins.
Institutional Investors Are Being Harassed
Big IT businesses are already making a positive impact on the globe. But, in terms of the financial environment, what more do they have planned? Invest in cryptocurrencies! Yes, with the backing of big internet companies, bitcoin will be able to surpass the $100,000 level in no time. Aside from large IT firms, more Fortune 500 corporations are expected to enter the bitcoin market.
Investors were taken aback when the bitcoin price hit an all-time high in April. Silicon Valley’s top firms had a big part in the value increase, despite the fact that many people blamed it on rapid adoption. Tesla CEO Elon Musk’s opinion on digital assets, as a crypto enthusiast and influencer, had a significant impact in value disparities. When Tesla revealed in February that it had acquired US$1.5 billion worth of bitcoin, the price of bitcoin began to rise. The price skyrocketed, reaching $58,000 in the same month.
Regulations are stifling Bitcoin’s growth
In the current market, Bitcoin and government restrictions appear to be diametrically opposed. Yes, just as the bitcoin price was gradually returning to its previous trading value of US$50,000, it was once again hammered by Chinese restrictions. Due to excessive energy usage, the nation recently imposed restrictions on bitcoin miners. They’ve now outlawed all crypto-related activities in China, including working for international firms.
What Do We Have Planned for 2022?
According to experts, forecasting bitcoin’s long-term value is impossible, and it is completely dependent on the desire of bitcoin whales. Despite the obstinate instructions, many people think that bitcoin will see enormous growth in 2022, which will endure until 2025. The outcome of a poll of 42 crypto specialists led to this conclusion. Almost 61 percent of them believe that, despite extreme volatility and price drops, bitcoin’s worth will increase in 2022.