The question of how to buy cryptocurrency, especially Bitcoin, interests many people who want to make money in this field. Since Bitcoin is one of the main currencies in the market, interest in it is growing twice as much as in other coins. Analysts give different forecasts about how the exchange rate will fluctuate. In this article, we will try to analyze and make some cryptocurrency overview on whether the value of this will rise this year or not.
Will Bitcoin Go Up Again In 2022?
This year started very riskily for this crypto, despite many experts believing that its price will surpass its previous and even cross the line of $100,000. No one knows when this will happen or even if it is gonna happen at all.
As all professional publications say, the price of Bitcoin is falling almost every day and has already fallen below $20,000. A senior market analyst at OANDA Edward Moya says this is the second time the largest crypto has fallen below $20,000 this month and it could get even worse. The value of Bitcoin may fall further to smaller amounts.
Considering the negative external circumstances of our time, investors are not very optimistic about the economic situation against the background of rapid inflation and start to exchange cryptocurrency because of this less actively. The cryptocurrency exchanges are becoming more connected to the stock market, which carries a negative impact.
As the statistics show, in the last half of the year, coin exceeded $45,000 for only a few short stretches and has not exceeded $50,000 starting with December 25, 2021. Nevertheless, in general, the currency shows good results. Of course with ups and downs. A good decision for you is to buy BTC on Changelly for the long term to rapidly increase capital.
Last year it was not hard to guess the growth of Bitcoin to a large amount, this year way more difficult to do so. Some investors even said that the price may fall to $10,000, but even with that, there is a hope that the value will skyrocket. At the present time, the cryptocurrency exchanges are being amended and secondary crypto products such as altcoins are emerging. People who work in the field do not dare to make accurate predictions or cryptocurrency overviews, because everything changes very quickly.
Kiana Danial who works as CEO of Invest Diva. She is the author of four books in which she teaches people about cryptocurrency and how it works. Kiana doesn’t expect Bitcoin to good profit right now but in the future yes.
What Things Affect Bitcoin’s Price?
Trust
In this case, the main psychological regulation of scarcity works. When there is a large amount of something, then it is not in demand and costs little, and vice versa when the product is scarce, then the price and the demand increase. If you check out a cryptocurrency for example Bitcoin, everyone can easily say that this rule works. Currently, there are about 19 million Bitcoins in the exchanges and most likely 21 million of them were issued.
Alexis Johnson, who is the president of USA/EN firm “Light Node Media”, says the work emerging in organizing public issues and blockchain events says “There’s a fixed supply but increasing demand,”.
Popularity of cryptocurrency
Every year, a bigger amount of people buy cryptocurrency. Training in this field is being launched and young people are interested.
Kate Walman a CPA specializing in Crypto/NFT/web3 tax and finance says “Crypto technology is being adopted at a faster rate than humans first adopted internet technology“. Bitcoin users grow every year at least twice and, according to analysts, will continue at the same pace. There is a chance that by 2030, one-eighth of the population will have some own cryptocurrency on virtual wallets.
Regulation of cryptocurrency by the government
A point you might not have thought about. After the cryptocurrency has acquired such a large scale, the government of the countries cannot remain aloof, because it is they who decide which tax to impose and regulate the work. It is necessary to carefully follow all the news.
Mining Cycles
The last, but not the least point is the process of halving the rewards of mining Bitcoin after each set of 210,000 blocks is mined. This process affects the time it takes for new Bitcoin coins to enter circulation. Experts often try to predict these cycles. It is worth remembering that after every decline comes growth and vice versa.
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