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The rise of the cryptocurrency market has been something that cannot be denied considering that 2021 was a super excellent year, whereas 2022 was expected to be even better, but what were the specialists based on? Connect with Sign in to know more about the bitindexai App.
Indicators that indicated that 2022 would be a good year for crypto assets, such as the development of metaverse platforms with NFTs, the generation of virtual items in video games on the blockchain, the massive sale of non-expendable works of art, and the inclusion of new forms of interaction in social networks with tokens.
Technical analysis pointing to changes
We can comment that Bitcoin enjoyed 2021, in which it broke several records; several experts hope that in the coming years, some of its contenders can increase in price and popularity and even surpass it.
The primary consideration and analysis are that the bulls are currently leading the market, where unexpected growth has surprised many crypto-asset investors.
However, the video game sector remained a leader between the various crises in the global market and the ups and downs of the crypto market. Therefore, more information enters Bitcoin-Prime trading system.
Bitcoin, the more speculation, the higher its price will be
All the analysts had a standard prediction: Bitcoin would continue to increase in value, reaching 6 figures, establishing USD 50,000 as the base price, and going upwards from there.
Although there were also analysts who established the price of Bitcoin at $32,000, demonstrating a typical crypto-winter fall that would, in turn, become a side trend, leading the other digital currencies to touch much lower values than expected.
Finally, most analysts emphasized that they would not be surprised to see a change in the alternative market. That being said, there is real positive momentum.
Forecasting the future of a currency has become a challenge for experts and ordinary investors, where holding virtual events focused on cryptocurrencies to define possible trends is common.
The main topics are forecasts for the next few years, including altcoins which could develop massive growth.
Bitcoin sentiment is moving away from extreme fear, according to a popular metric for measuring cryptocurrency market sentiment, has moved away, as it was currently the most significant precedent.
Due to the recent recession, the market saw a significant drop in the Bitcoin Fear and Greed Index. From there, analysts are responsible for looking at various factors and making a general estimate on investor sentiment. and merchants.
What will be the cryptocurrencies with the most significant potential? On the other side of the coin is Ethereum, which has been Bitcoin’s direct business rival and is expected to increase its market capitalization from $500 million to around $700 million next year.
Its current price is around $1,700. Although it is worth less than ten times what a Bitcoin costs, Ethereum has nearly half the market capitalization of Bitcoin, comparable with the rest of the market, followed by Solana and Polkadot.
They will bet on its scalability Noting that Polkadot is a popular cryptocurrency characterized by its interoperability on Web 3.0 platforms and Cardano. However, its main attraction is how its growth develops.
Many cryptocurrencies have emerged in recent years.
Conclusion
The significant change experts expect as a challenge is Bitcoin’s loss to other small cryptocurrencies, allowing it to do something that Bitcoin still needs to demonstrate.
Oppressing these are smart contracts and 100% crypto investment funds without intermediaries or better known as DeFi.
2022 was yet another challenging year for Bitcoin, where maintaining and increasing its positive displacement has been the main objective. Nevertheless, it is estimated that in 2023, the participation rate and entry of new users to digital markets will take a giant leap.
