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Is a Cryptocurrency Comeback Still Possible in 2022?

Inflation is rising, the economy is weakening, and the Federal Reserve tightens monetary policy, producing significant volatility in the cryptocurrency market. BTC-USD, is down more than 55% from its November, while ETH-USD, is down almost 60% from its record high. Bitcoin BTC-USD, is consolidating. Unfortunately, it’s becoming worse for the smaller coins.

According to researchers, the degree of investor risk appetite will continue to dictate the success of cryptocurrency throughout the year. Although bitcoin performed better than stocks in the first quarter, many believe it might fall precipitously in a selloff. In an interview, BlockFi’s global head of trading, Joseph Hickey, said that cryptocurrency might fall quicker than conventional markets.

According to Tony Nyman, FX fundamentals manager at Informa Global Markets, Bitcoin may lose value in 2022, citing the cryptocurrency’s beginning price of $48,000. According to an email from Nyman, BTC/USD may not go below $25,425.

Bitcoin plunged by 80% last year because investors were unwilling to take risks, according to McMillan (CEO of Blockchain Investment Group). He said that if risk appetite returns, bitcoin prices may rise somewhat over the year. (2018, Blockchain News) Investors are also watching Ethereum’s “Project,” a major update that will transition the blockchain from proof-of-work to proof-of-stake, a less energy-intensive consensus mechanism.

The Ethereum Foundation, which maintains the blockchain, anticipates the completion of the “Project” by the end of this year (Blockchain News, 2018). Despite public market selling pressure, wealth is still streaming into the private market for cryptos. McMillan advises investors not to put their money in it.

Andreessen Horowitz has announced the raising of $4.5 billion for its fourth and biggest crypto fund. According to Chris Dixon, the firm’s crypto unit’s founder and managing partner, we are approaching the golden age of web3, the next version of the internet. However, Delta Blockchain Fund founder and managing partner Kavita Gupta believes the contrary despite the existing low values.

The post Is a Cryptocurrency Comeback Still Possible in 2022? appeared first on Best Stocks.

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