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Today was another unstable day Bitcoin (CRYPTO: BTC) And other top Cryptocurrency.. The crypto sector is a sector that has been difficult to identify recently in terms of directional movements, but most eyes are on Bitcoin. This top token is often considered a pioneer in the entire market.
The directional movement of Bitcoin, the first and largest cryptocurrency by market capitalization, tends to move the market. Therefore, investors will ask a lot of questions about Bitcoin this year. Will the momentum return? Or will it continue to decline slowly and steadily throughout the year?
Let’s dive into some notable things with this year’s Bitcoin.
Big time Bitcoin price forecasts continue to surface
Indeed, one of the most likely things to follow in 2022 is the more incredible price forecasts. Whether it’s Cathie Wood or any other cryptocurrency that is pitching huge price targets, the potential returns that investors can receive in Bitcoin are what’s getting a lot of attention to this token. ..
Therefore, recently Research of JP Morgan Clients suggest that individual investors believe in hype. The majority of respondents believe that BTC could trade for more than $ 60,000 this year. This is an increase of almost 50% from today’s level.
Perhaps these results are not so surprising. After all, investors who own digital currencies do so in order to earn huge rewards. Therefore, holding a very valuable asset should have some advantages.
Although Bitcoin has its weaknesses, most retail investors seem to believe that in 2022 this token could outperform the downside risk. Therefore, Bitcoin investors want the wisdom of the crowd to be right this year.
As the world’s oldest and therefore longest-running investment in cryptocurrencies, Bitcoin’s track record is worth considering. This token has surged and plummeted many times in the past. Therefore, many believe that long-term selling may be included in the card, at least after 2022, and short-term sentiment still seems weak.
Such prospects are certainly possible when negative emotions are heightened. Certainly, when Bitcoin enters the bear market, it will be hit hard. In the absence of actual cash flow, most cryptocurrencies like Bitcoin are really just a function of supply and demand.
I hope that the global supply and demand fundamentals of cryptocurrencies will continue to be under pressure, at least in the short term. It seems that the card contains rising interest rates and selling alongside risk equity. However, in the long run, anything is possible. Therefore, dip buyers will probably be realized after the end of the year.
For now, I’m sitting firmly on Bitcoin. However, those who are investing in Bitcoin and other cryptocurrencies may actually want to strap on to enjoy a fun ride in 2022.
Notable in Bitcoin this year
https://www.fool.ca/2022/01/18/what-to-watch-with-bitcoin-this-year/ Notable in Bitcoin this year