Will Bitcoin and other cryptocurrencies rise in price in 2022?

Most cryptocurrency owners were shocked after the dramatic collapse of the digital currency market.

No one expected the collapse that 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 a downward trend that sent Bitcoin crashing to $20,000, effectively reaching a level not seen since two years ago.

Traditionally, altcoins, which have a direct correlation and react similarly to the fall or rise of Bitcoin, also fell following the main cryptocurrency.

The downward trend has been going on for four months now, and many investors have already dumped cryptocurrencies, while others are wondering: When will Bitcoin rise in price, and most importantly, will it happen or is it an event?

To answer this question, it's enough to simply look at the Bitcoin chart over the past few years:

It can be said that today's situation is repeating itself more than once, Bitcoin has already risen in price to 20,000 and fallen to 4,500, then rose to 60,000, then the price fell again to 27,000 and rose to 67,000 dollars per 1 Bitcoin.

Furthermore, no major changes have been observed in the cryptocurrency market. The low price is a reaction to investors leaving, who have transferred their money to more stable assets or spent it on personal needs. The panic that erupted after staff layoffs at cryptocurrency exchanges also played a significant role.

That said, it's safe to say that as soon as the global economic situation begins to stabilize, which will happen sooner or later, the price of cryptocurrencies will also rise.

Enormous amounts of money are still invested in the cryptocurrency market, even after the collapse, with the digital market capitalization amounting to approximately one trillion US dollars.

No expert can pinpoint the exact date for the start of the uptrend. Most likely, cryptocurrency prices won't begin to rise until early 2023, and only after the fighting in Ukraine ends. Once that happens, demand for cryptocurrency will surge, and everyone will want to buy it as cheaply as possible, thereby increasing their potential profit prospects.

In the meantime, I would advise investors with cryptocurrency investments to be patient and wait for the price to recover to its previous levels of 50-60 thousand per Bitcoin.

I myself am in no rush to sell my cryptocurrencies at the ridiculous price that is currently prevailing on the market, thereby losing up to 80% of the money invested.