The Bitcoin price has risen more strongly again in the last 2-3 weeks. Previously, we saw an almost 3-month correction in Bitcoin price, with BTC losing almost 50%. Can Bitcoin recoup its previous losses and reach 100K by the end of 2022? The following 3 factors will determine the development of the price the most over the next few weeks.
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#1 Inflation and Monetary Policy
Hardly any other topic has damaged the Bitcoin course as much as the announcement of the increase in key interest rates by the American Federal Reserve Board. If interest rates rise, speculative investments such as Bitcoin would suffer greatly, as investors take less risk.
However, this effect could fizzle out in the future if inflation in the USA or in Europe remains at a high level. In this case, investors would use Bitcoin more than ever as an inflation hedge. The development of inflation and the monetary policy of the central banks will remain an important topic for Bitcoin.
#2 Prohibitions and Regulations
Another topic that should determine the Bitcoin price development in the coming months is possible bans and regulations of the cryptocurrency. Recently, a possible ban on cryptocurrencies in Russia was a big topic. Concerns about possible bans and harsh regulations have often turned out to be unfounded recently.
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Strong regulations could also damage the Bitcoin course in the coming months. However, there could finally be more clarity in the regulatory processes for cryptocurrencies. This would especially help institutional investors and make it easier for them to invest in cryptocurrencies.
#3 Mass Adoption and Mainstream Suitability
In 2021, there was a massive institutional adoption of cryptocurrencies. 2022 could be the year of mass mainstream adoption of Bitcoin and other cryptocurrencies. Most recently, 3 major crypto exchanges aired ads in front of hundreds of millions of people at the Super Bowl.
NFTs, DeFi, and the Metaverse are also becoming more mainstream. Should the adaptation to the mainstream progress massively in the next few months, this could help the Bitcoin price to reach new heights.
Can Bitcoin reach 100K in 2022?
If all the above were in favor of Bitcoin, we will definitely see a rise in Bitcoin price. On the other hand, some analysts predict that Bitcoin’s price will not rise much in the year 2022. This is because the previous 2 years were very bullish already for Bitcoin and the entire cryptocurrency market. If we look at the chart below, we can see how Bitcoin prices reached astronomical levels from their lows back in 2020.
The post Can Bitcoin reach 100K soon? Here’s what’s needed for that to Happen… appeared first on CryptoTicker.
Can Bitcoin reach 100K soon? Here’s what’s needed for that to Happen…
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