Will Bitcoin and other cryptocurrencies rise in price in 2022?
Most cryptocurrency owners experienced shock after the huge fall in the digital money market.
No one expected such a collapse as happened in 2022; most analysts did not expect such a development of events.
On the contrary, there were bold predictions about the price of Bitcoin at 100,000 or even 400,000 US dollars per coin.
But the events of February 24 in Ukraine triggered the start of a downward trend, as a result of which Bitcoin fell to $20,000. In fact, reaching the mark of two years ago.
Traditionally, following the main cryptocurrency, altcoins also fell, which have a direct correlation and react similarly to the fall or rise of Bitcoin.
In order to answer the question posed, just look at the Bitcoin chart over the last few years:
We can say that today’s situation is not being repeated for the first time, Bitcoin has already risen in price to 20,000 and fell to 4,500, then rose to 60,000, then again the price dropped to 27,000 and rose to 67,000 dollars per 1 bitcoin.
In addition, there are no global changes in the cryptocurrency market; the low rate is a reaction to the departure of investors who transferred money to more stable assets or spent it on their own needs. The panic that arose after the actions to reduce employees at cryptocurrency exchanges also played an important role.
With all this, we can say that as soon as the situation in the global economy begins to stabilize, and this will happen sooner or later, the price of cryptocurrencies will go up.
Huge amounts of money are still invested in the cryptocurrency market, even now after the collapse, the capitalization of the digital market is about one trillion US dollars.
Not a single expert will undertake to name the exact date of the start of the upward trend; most likely, cryptocurrencies will begin to rise in price no earlier than the beginning of 2023, and even then, subject to the end of hostilities in Ukraine. As soon as this happens, the demand for cryptocurrency will creep up, everyone will want to buy it as cheaply as possible, thereby increasing the prospects for probable earnings.
In the meantime, I would advise investors who have investments in cryptocurrency to be patient and wait for the price to recover to its previous values of 50-60 thousand per bitcoin.
I myself am not yet in a hurry to sell my cryptocurrencies at such a ridiculous price that has now prevailed on the market, having lost up to 80% of the invested money.