Bitcoin will be taking away the market share from gold this year. This is because digital currencies are becoming highly adopted worldwide. In 2022 lists of predictions, it has been found that Bitcoin will have most likely become a huge proportion with the passage of time. According to a hypothetical scene where this cryptocurrency grabs 50 % of the market share, the price will go over $100000.
After sharply falling in the early months of December Bitcoin struggled and traded nearly at $46073. It hit $69000 in November that was really high.
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Bitcoin can have applications also beyond the store of value. The market of the digital asset is bigger than that of Bitcoin but if the market capitalization of Bitcoin is compared to that of gold, it will aid in putting parameters on some plausible returns for Bitcoin outcomes. Luckily there are ways bitcoin can benefit ecommerce and selling online. Store of value, this term mainly describes assets that are able to maintain their price over time without any depreciation like some currencies.
Prediction of Bitcoin hitting $100k in 2022
- A lot of analysts are seeing that Bitcoin will be hitting $100k now.
- Some also predicted that it may cross this mark.
- One enthusiast believes that this cryptocurrency will be hitting the milestone soon after taking into consideration its growing acceptance and reducing active supply.
- Some crypto experts also predicted that Bitcoin’s value in USB will be having five zeros within 2023.
- An expert also commented that he has a supply and demand model and the next time these two models will intersect is at $100000 within a few years.
Australian experts made some predictions about Bitcoin milestone
- The $100k milestone of Bitcoin was on the horizon now.
- In the last 2 years, it has seen a huge increase.
- It is reflective of the always-increasing interest that came from people and large businesses.
- In the last 2 years, Bitcoin like every asset class has risen up and fallen. But realistically this and other cryptocurrencies had seen a positive outcome on the investment.
- It comes with too much positivity and it signals that investors including people and businesses constantly see crypto as an alluring investment apart from the asset class.
- Bitcoin will reach this mark either this year or in the coming years. However, experts are not sure if it will be reaching higher or not.
What are the predictions for the rising Bitcoin growth?
- Bitcoin has become popular and has also enhanced in price.
- This digital currency has now become mainstream such as big financial institutions like Visa that offer cryptocurrency services.
- A huge number of retail investors are now interested to purchase Bitcoin than ever before.
- Regardless of Bitcoin’s volatility, it has risen in value in 2021.
- This has been attributed to better reliability and worldwide trends.
- Earlier there were huge concerns about Bitcoin such as can anyone hack Bitcoin, is decentralization a completely workable solution, and so on.
- But most of these concerns are answered now.
- This cryptocurrency works on trustworthy technology. It also never breaks.
- It is also seen that it is associated with several institutional investors such as Microstrategy, Tesla, etc.
- Many institutions are considering converting their cash reserve into this digital asset as a safeguard against all financial crises.
- Many different cryptocurrencies are also part of this race that diverts the interest of a few retail investors away from it, but it is still the most vital crypto with $1.15 trillion as the overall market cap.
- It is higher compared to the combined market capitalization of the three biggest banks of the world.
- It is closer to $100l than to $0.
- Its current developments globally proved that it is nearly close to becoming a mainstream digital asset.
Conclusion
From October 2020, it has been seen that Bitcoin has broken into highs of all time. Recently it surpassed the $50000 mark. It seems like it is moving towards $60000 soon. It may be perfect for investors who entered the space of investment in the early days of 2020. But it is never too late for investing in Bitcoin, provided you invest whatever you are capable of affording. From time to time, you may see dips in this cryptocurrency’s value but with a little investment now you may get huge returns in the future. Short term trading is a type of trading that is done in the short term. It can be done for a few minutes, hours, days or weeks.
