Being a part of the present world, it should not be quite surprising for you to get accustomed to digital terms like Bitcoin and cryptocurrency by now. It was in 2009 when the great anonymous figure, Satoshi Nakamoto introduced Bitcoin to the digital trade market. If you are looking for trading platforms, do check out Bitcoin System.
Bitcoin stems from the need for a decentralized system of transactions free from third-party interference. A decade has passed, and Bitcoin has changed its definition from being a peer-to-peer digital currency transfer to becoming a store of value. And finally standing in the 21st century, today Bitcoin is considered to be equivalent to gold.
The year 2021, can be said as the diamond year for Bitcoin investors. Bitcoin was traded with a value of $60,000 in November 2021. All the crypto enthusiasts have witnessed the value of Bitcoin hitting its peak and then followed by the lowest value price and again climbing up to the top.
Bitcoin is the largest digital cryptocurrency and not a single other 9,500 cryptocurrencies have been able to beat the mark set up by Bitcoin till date. With the end of the diamond year 2021, Bitcoin had to face the worst hit of all time at the beginning of the year 2022. At the beginning of the year 2022, Bitcoin was trading below the mark of $20,000. Such fluctuations in the cryptocurrency trade market set up an example of the volatility factor present in the Bitcoin trading network.
Rules and Regulations
What’s more in the pocket of the upcoming phase of 2022 and more years coming ahead? The macro environment of the globe has immensely affected the horizons of cryptocurrency. In the year 2022, there are possibilities that the crypto world might experience a massive change. Yes, you read it right, Crypto might get abided by rules and regulations.
United States officials have shown keen interest in something called stablecoin regulation. There are continents of the world that have accepted cryptocurrencies, especially bitcoin wholeheartedly; however people and some big brand names are questioning the decentralized nature of Bitcoin at present. Lawmakers in Washington DC and lawmakers of other countries are constantly looking for the establishment of laws and regulations.
Crores of money were stolen by hackers, thus there are possibilities in the upcoming years, that Cryptocurrency might have laws and regulations implied on the decentralized network by the central bodies. Many experts and crypto enthusiasts have been talking in various interviews regarding the necessity of strong regulations on cryptocurrencies.
Bitcoin halving sessions
As we all know bitcoin has a limited supply chain of 21 million. According to the latest data of 14 July 2022, 19 million Bitcoins are already in supply. Halving sessions are conducted every four years to reduce the number of new bitcoins issued in the supply chain.
The halving session primarily focuses on reducing the number of tokens in circulation by limiting the supply and making the same token scarcer. The scarcity of the supply with constant demands leads to rising in value. After the halving session of 2020, the value of bitcoin had spiked by 665% in the trade market.
The assumption regarding the next halving sessions which are going to be conducted in the years 2028 and 2032 are going to be more beneficial for raising the value of bitcoin.
First Bitcoin ETF has made its debut in the New York exchange market which will make the investment in crypto easier and more accessible. Bitcoin ETF will allow investors to directly invest and do exchanges of Bitcoin and other cryptocurrencies with the help of traditional investment brokerages such as Fidelity. BITO has opened new gates for retail investors for diversification, protection, and easy liquidity options.
Competition with the second-highest Cryptocurrency
The words of DailyFX analyst, Tammy DaCosta, make us believe that the father of cryptocurrencies, the BTC may face tough competition from the world’s second-highest cryptocurrency Ethereum.
- Bitcoin may rise to $41,180.91 by the end of 2022. The average trading price of BTC is assumed to be $38,288,89.
- For the year 2023, it is presumed that the average trading price of Bitcoin will be, $54,570.32 and for 2024 the maximum price of Bitcoin might reach $91,629.72
Bitcoin is the master of digital currency and investing in Bitcoin is worth it. Be sure to seek assistance from experts or sign-up on credible trading applications to get started today.
Disclaimer: The presented material by no means represents any financial advice or promotion. Be sure to do your own research and acknowledge the possible risks before using the service of any cryptocurrency platform.