Bitcoin adds more than 70% to its value in 2021. The year coming to an end, and Bitcoin remains on the top. It is the most popular cryptocurrency in the world. In the last 52 weeks, Bitcoin has risen by 72%. In January, the price of Bitcoin was around $32k per coin after it surpassed its 2017 all-time high of $20,000 towards the end of 2020. This popular cryptocurrency quickly reached a new all-time high in November this year. The price was above $68k.
Where will Bitcoin go in 2022?
2022 is expected to bring further growth to the cryptocurrency market and to Bitcoin in particular. Jack Dorsey resigned from his role as Twitter CEO and changed Square’s name to Block in a bid to focus on developing products centered on Bitcoin.
Market experts are optimistic that 2022 will be a better year for Bitcoin.
Kate Waltman, a New York-based certified public accountant who specializes in crypto, expects Bitcoin to reach $100,000 in the first quarter of 2022. “The most knowledgeable educators in the space are predicting $100,000 Bitcoin in Q1 2022 or sooner,” she said.
However, the long-term indicators show that Bitcoin is performing well. Bitcoin is trading above its 200-day simple moving average at $47,272. The technical indicators could improve over the coming weeks and months as Bitcoin is expected to perform better in the coming year.
