Cryptocurrencies have been in news over the last few years. People have considered cryptocurrencies as a profitable investment option. Out of all cryptocurrencies, the most talked about is Bitcoin. The first half of 2022 has been bad for cryptocurrencies. Bitcoin crashed below $20,000 in June 2022. In the last six months, Bitcoin has been above $45,000 for a short period and never went above $50,000 since December 2021. So, it is hard to predict the price of such digital currencies, and you must keep your eyes on the latest news on cryptocurrencies to stay updated. Here, you can find some latest trends in the market: If you want to get started with Bitcoin mining, check the Bitcoin Sprint.
Lawmakers across the world are trying to regulate the cryptocurrency market by making strict laws and guidelines. This step is aimed at making cryptocurrency a safe investment option for people. The strict guidelines will also save the cryptocurrency market from cyber attacks. But, it is nearly impossible to implement a uniform guideline because each state or country has its own set of guidelines and tax regulations for crypto investors.
ETF approval for Cryptocurrencies
The launch of Bitcoin ETF (Exchange-traded Fund) has opened up a convenient way to invest in cryptocurrencies. Investors can now buy Bitcoins using their existing accounts with traditional brokerages. But, according to some market experts, BITO ETF is not sufficient as it cannot hold cryptocurrency directly but it holds future contracts of Bitcoins. Though it is a conventional way of investing in cryptocurrency, it is still associated with certain risks due to the volatility of cryptocurrencies.
Institutional Adoption of Cryptocurrencies
Important companies across many industries adopted cryptocurrencies and invested in them. Online platforms, such as Square and PayPal are allowing users to buy items using Bitcoins, and users can use their PayPal account to buy crypto. According to some market experts, more global companies will adopt more cryptocurrencies by the end of the year 2022. Companies like Walmart and Amazon are planning to recruit cryptocurrency experts to look after the blockchain strategy. So, it is predictable that crypto will become a global currency soon.
How Institutional adoption will help cryptocurrency investors?
With more retailers accepting payment through cryptocurrencies will change the landscape of this sector in the future. But, if investors buy Bitcoins for the long term, you will get a good return. It is better to hold your digital currencies and treat them as an asset.
Bitcoin indicates the cryptocurrency market because it is the most popular cryptocurrency in terms of market cap. The cryptocurrency market trend follows the trends of Bitcoins. In 2021, the price of Bitcoins was high and it was more than $68,000. The entire market of cryptocurrencies is volatile and that is why market experts always suggest investors to invest less than 5% of their investment portfolio in cryptocurrencies. Market experts also suggest that if you are buying Bitcoins for long-term investment, you need not worry about these short-term ups and downs in the market.
Cryptocurrency future in 2022
The top 10 cryptocurrencies that will show good returns in 2022 are
- Binance Coin
- Shiba Inu
- Ape Coin
Bitcoin is supposed to hit high in the market because of its resilience and withstanding ability. It is the best cryptocurrency one should invest in 2022. Though this currency has been going low in the past few months, Bitcoin is expected to resume its upward trend and break the records in 2021. Being the all-time favorite, Bitcoin has already grabbed the attention of investors.
The increase in Bitcoin use-cases over the past few months has made Bitcoins one of the most promising investment choices for investors. Countries, such as the Central African Republic and El-Salvador have given Bitcoin a legal status. As more governments and institutions are adopting Bitcoins, there is a continuous rise in the demand for Bitcoins in the market. This trend will help in the growth of Bitcoins in the year 2022 and ahead. So, market experts estimate that Bitcoin’s price may exceed $100,000 by the end of 2022.
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.