- There is a chance that Bitcoin may go beyond $100,000 before the end of 2022.
- Introducing a Bitcoin ETF might be a big stimulus for the asset’s value to rise.
Since its inception, Bitcoin has evolved from a speculative asset class to a long-term asset. The performance of bitcoin is used to measure the overall performance of the cryptocurrency market. Several huge organizations, including governments, have a significant amount of Bitcoin in their portfolios.
Because of its extreme volatility, predicting bitcoin’s one-year price is a little more difficult. There is a chance that Bitcoin may go beyond $100,000 before the end of 2022. Breaking a crucial resistance level has convinced investors that there is still room for growth in the Bitcoin market. Rising prices and the anticipation of more stimulus continue to drive individuals into safe-haven investments.
Ease in Access of Bitcoins
More and more individuals will have simple access to cryptocurrencies as payment services like PayPal increase their use. Bitcoin’s halving stock-to-flow model supports an ambitious and highly positive prognosis based on its history. Introducing a Bitcoin ETF might be a big stimulus for the asset’s value to rise.
Under Bukele’s administration, El Salvador became the first government to embrace Bitcoin as legal money last year to combat rising inflation. Since legalization, a hospital and a school have benefited from the president’s investment of 1,370 BTC in the country’s reserves.
The crypto market cap is now $2.24 trillion, up 1.39 percent from the previous day. Over the last 24 hours, the cryptocurrency market volume has decreased by 11.50 percent to $67.41 billion. According to CoinMarketCap, the Bitcoin price today is $47,657.59 USD with a 24-hour trading volume of $22,067,247,880 USD.