Bitcoin is on the rise once more as the coin aims for a much bigger market value in 2022. A lot of experts explained how it can reach the top of the market with a huge value, and their points are starting to make sense with small surges coming in.
While a lot of people are still trying to invest in Bitcoin, a lot of crypto enthusiasts can hope for the best with the coin trying to expand and add more to its value. They have been hyped with the way Bitcoin has surged over the years.
A lot of users in the crypto industry are into Bitcoin gaming. This shows a lot of traction for the coin as there is a rise in the number of bettors in sportsbooks or casinos who use Bitcoin as their primary mode of payment.
Most experts say that Bitcoin will surge even bigger in 2022, and they advise users to be ready to hold on to their coins as it may even peak to an all-time high. Setting bars is always a goal for Bitcoin, and after that big burst in 2021, a lot of growth is expected to come.
Bigger Market Trend for Bitcoin
With the continuous upward trend for Bitcoin, some users expect that the coin will rise bigger in terms of value in the coming months. Most enthusiasts say that the current trend is affected by those who bet using Bitcoin in terms of usage rate. A lot of bettors prefer this digital asset for betting on casino games and sports, especially football which has the biggest leagues.
For instance, if you use Bitcoin to bet on football tournaments, there are no transaction delays. This also saves you time from waiting for your winnings to be deposited into your account which gives you a more enjoyable experience. It is also an advantage that Bitcoin transactions have less fees, unlike fiat that has some service charges that can affect your winnings.
What’s great about Bitcoin transactions is that it will never get rejected. Since there are no third-party involved, the money goes straight to your account. The authorization of your transaction does not depend on a banking institution or any central authority. It also guarantees anonymity which you won’t get with traditional payment methods.
The upward trend is expected to take its time this year. Investors will have to hold on to their Bitcoin assets for a little while longer. Some analysts also believe that Bitcoin could reach a $200,000 value mark by the end of the year.
This Bitcoin market trend might lure some impatient investors out of the picture. That depends on how they see it as a whole since Bitcoin and any other crypto is volatile.
Hitting an All-Time High
No one knows how long Bitcoin can keep on growing or if it can reach the $100,000 target this year. People only hope that the coin is poised for a bigger push, and this is the common faith shared by most crypto investors who have altcoins who want as well.
Nexo’s managing partner Antoni Trenchev forecasts that 2022 will be a choppy one for Bitcoin. He expects the coin to reach a new all-time high by the end of June. That kind of trend shows a lot about the coin’s potential.
‘The no. 1 influencing factor for Bitcoin and cryptocurrencies in 2022 is central bank policy’, Trenchev said. ‘The Fed doesn’t have the stomach or backbone to withstand a 10%-20% collapse in the stock market, along with an adverse reaction in the bond market’.
The central bank policy would always play a huge role in how Bitcoin and the rest of the crypto would either rise or fall in 2022. This only shows that it is hard to predict how Bitcoin can have a sustainable push that would lead up to an all-time high since there are always more factors that will affect BTC and other altcoins as well.
As Oanda Asia Pacific’s senior market analyst Jeffrey Halley says, the bloated tech valuations will only lead to a challenging environment for other cryptocurrencies in 2022. This means that while Bitcoin’s surge to the $100,000 value mark is a good note, the number of certain coins and tokens coming out in a quick span is a bad beat for the whole industry.
‘Hanging over the crypto space is the threat of more regulation and frankly, with a new coin coming out every week which is “the next big thing” and driven by speculation and not blockchain, I’m struggling to see how any of them will be’, Halley said.
Until then, Bitcoin’s hopes of making it to the target value is all speculation at this point and will need more surges to confirm that it is really on its way to that mark. This may cause uncertainty for a lot of impatient investors whose goal is to make a quick profit as opposed to long-term investments.
Bitcoin is expected to make a huge surge sooner or later, but that does not mean that it is guaranteed at all. There are many speculations that multiple crashes may happen soon around the middle months of the year, making it hard for Bitcoin to gain enough traction and go all the way to reach the $100,000 value target.
Bitcoin gaming enthusiasts can enjoy the rising value over time, but it will be a plague to those altcoins that will not benefit from the coin’s rise. This leaves a huge risk for altcoins to either sink or survive as was seen in the past few years especially with the Bitcoin halving last May 2020.
The 2022 surge is far from completion, but people hope to see the best from the coin in the long run. The use of Bitcoin would be better and bigger in the years to come, and that means mainstream acceptance would be inevitable as well. Who knows, maybe it would take just a few years later before Bitcoin makes its way as the new common currency we know.