Techloaded247Techloaded247
  • Home
  • Tech
  • Mobiles
    • My Gadgets
    • Gaming
  • Contact Us
  • Tech Jobs
    • TECH JOBS IN NIGERIA
    • TECH JOBS IN U.S.A
    • TECH JOBS IN CANADA
    • TECH JOBS IN INDIA
  • ABOUT US
Facebook Twitter Instagram
Facebook Twitter Instagram
Techloaded247Techloaded247
  • Home
  • Tech

    Dell XPS 15 i7 11th Gen Intel – Touchscreen Laptop

    How to Create Block Quote in Google Docs

    Best Cheap Cloud Hosting Server 2023

    How to Fix Stuck on Meta Quest Logo Screen? (SOLVED)

    What is Smart Energy?

  • Mobiles
    1. My Gadgets
    2. Gaming
    3. View All

    How to sell Apple HomePod

    Fan Favorite Disney Apple Watch Bands You’ll Love

    Samsung Smart Tag Wallet: Overview

    Galaxy Watch 4 42mm vs 46mm – The Right Size For You?

    Games like Uncharted For Xbox: Adventure and Treasure

    How To Fix Sprint Bug in Dead Space Remake

    Dead Space Remake Review: What’s New

    Revealing Rise of the Ronin, a new action-RPG

    iPhone 15 Pro — Everything We Know So Far

    Fitbit Sense 2 vs Fitbit Sense: Full Comparison

    Google Pixel 7 Vs. iPhone 14 Plus: Full Comparison

    Fixing Iphone That Won’t Charge: Easy Steps

  • Contact Us
  • Tech Jobs
    • TECH JOBS IN NIGERIA
    • TECH JOBS IN U.S.A
    • TECH JOBS IN CANADA
    • TECH JOBS IN INDIA
  • ABOUT US
Techloaded247Techloaded247
Home » Bitcoin Future in 2022 Is Uncertain Following Record Year
Tech

Bitcoin Future in 2022 Is Uncertain Following Record Year

Abdulmujeeb OwolabiBy Abdulmujeeb OwolabiUpdated:December 31, 2021No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Bitcoin Future in 2022 Is Uncertain Following Record Year
Share
Facebook Twitter LinkedIn Pinterest Email

Bitcoin’s price reached new highs in 2021 thanks to supporting from traditional banking, but cryptocurrency experts are unable to forecast the volatile sector’s conclusion for the coming year.

Bitcoin has lost some of its luster, trading at under $50,000 heading into the new year, after more than trebling in value to $60,000 between December 2020 and April.

Cryptocurrencies attracted the largest investment in 2021

“The current choppy and directionless price movement, along with the risk of further downside pressure, has created a great deal of concern in the digital asset market,” said Loukas Lagoudis, executive director of cryptocurrency investment firm ARK36.

“Sustained acceptance of digital assets by institutional investors and deeper integration of digital assets into legacy financial systems will be the major drivers of growth of the crypto industry” 2022, he added.

There is no such thing as certainty in crypto.

The ascent of Bitcoin in 2021 coincided with Wall Street’s growing interest in cryptocurrencies. The debut of the bitcoin exchange Coinbase on the stock market set a new high in April.

The launch of a Bitcoin futures exchange-traded fund (ETF), or form of financial instrument, on the New York Stock Exchange in October pushed the price past $66,000.

With provocative statements about cryptocurrencies, Tesla CEO Elon Musk helped the market climb — and crash. El Salvador’s decision to declare Bitcoin legal tender in September also made an impression.

However, Bitcoin is under pressure from China’s crackdown on cryptocurrency trade and mining, as well as the threat of larger regulatory action from the likes of Europe and the United States.

“In crypto, there is no certainty, let alone regulation,” said Huong Hauduc, general counsel at digital asset exchange Bequant.

“However, one thing is certain: the voices asking for crypto regulation are becoming more stronger, whether it’s for greater consumer protection or just clarity of the laws for institutions.”

Bitcoin was created in the aftermath of the global financial crisis of 2008, with the goal of overthrowing established monetary and financial institutions such as central banks.

Climate change activists have recently focused attention on the massive amount of electricity necessary to power the computers required to mine new Bitcoin currencies.

Increased competition

According to several observers, Bitcoin will face more rivalry as it approaches 2022, particularly from its closest rival Ethereum.

Jack Dorsey, the co-founder and CEO of Twitter, announced his resignation from the social media network in November, allowing him to focus on his digital payments company, which is looking to expand into cryptocurrencies.

For now, Bitcoin remains the dominant player.

The cryptocurrency sector is valued at $2.36 trillion, according to the specialized site CoinGecko, with Bitcoin alone worth $900 billion.

When compared to Ethereum, “Bitcoin’s unwillingness to modify its design” is really “a feature that gives the stability and consistency required to serve as a true global money,” according to analyst Frank Downing.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Abdulmujeeb Owolabi
  • Website

Abdulmujeeb Owolabi writes SEO articles for businesses that want to see their Google search rankings surge. With his 5 years of SEO expertise in writing tech, crypto, and finance blogs, you can reach him on Owolabi@techloaded247.com His articles focused on balancing information with SEO needs–but never at the expense of providing an entertaining read.

Related Posts

Dell XPS 15 i7 11th Gen Intel – Touchscreen Laptop

How to Create Block Quote in Google Docs

Best Cheap Cloud Hosting Server 2023

How to Fix Stuck on Meta Quest Logo Screen? (SOLVED)

Add A Comment

Leave A Reply Cancel Reply

New Comments
  • MintCoder on Apple removes the Apple Watch Series 6 from its official lineup
Techloaded247
WhatsApp Facebook Telegram Twitter Discord
  • Home
  • Tech
  • My Gadgets
  • Mobiles
  • Get In Touch

© 2023 Techloaded247. Designed by Techloaded Team.

Type above and press Enter to search. Press Esc to cancel.