What's Hot

    Many American stars face lawsuits for promoting cryptocurrencies

    03.02.2023

    What is happening in the NFT market in 2023. Which collections are the most profitable

    03.02.2023

    how the decision of the American authorities affected the crypto market

    03.02.2023
    Facebook Twitter Instagram
    Saturday, February 4
    Facebook Twitter Instagram
    Crypto News
    • Home
    • Bitcoin
    • Ethereum
      • Altcoins
      • ICO
    • Analytics
    • Blockchain
    • Other
      • DeFi
      • Mining
      • Regulators
      • Security
    Crypto News
    Home»Bitcoin»Make no mistake, Bitcoin is still in a bull market
    74d6c09c25c63274e52dbfad36b7f430191f7799
    Bitcoin

    Make no mistake, Bitcoin is still in a bull market

    AdministratorBy Administrator14.12.2021No Comments3 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email


    Reading time: ~ 2 m


    According to a Bloomberg Intelligence report, while Bitcoin has dropped nearly 30% from a record high in November, it is in a consolidating bull market and is approaching $ 100,000. The document states that it is unlikely that BTC’s bullish gains have stalled and predicts that a fixed supply will support the rise in prices.

    “The key question facing Bitcoin in early 2022 is whether it is a peak or just a consolidating bull market,” the report said. “We believe this is the latter, and we see the flagship cryptocurrency slowly evolving into global digital provisioning in a world that is on this path.”

    The report also highlights how this year’s adjustments have made the asset stronger and its bull market healthier as Bitcoin weathered and overcome the mining ban in China to hit new highs. In addition to breaking past highs in November and hitting $ 69,000, Bitcoin’s network hashrate also recently hit a new all-time high, demonstrating the deep resilience of its consensus protocol.

    “Bitcoin seems to be on a $ 100,000 trajectory. We see it as more of a matter of time, in particular because of the economic foundations of an increase in demand versus a decrease in supply, ”the report says.

    Further mass adoption will increase the demand for Bitcoin, and the development of new ETFs and futures and legal tender status in El Salvador are examples of this process. As BTC output shrinks and awareness rises, prices are expected to rise and volatility is expected to decrease, according to the report.

    Clearer regulation of Bitcoin in the US could also increase its acceptance among certain types of investors and help meet even higher demand for the asset. The report says the next year could be a pivotal year in that regard, as the country seems set to embrace cryptocurrencies with more detailed legislation and a deeper understanding of technology on the part of government officials.

    Monetary policy can also play a role, especially if a tightening of the Federal Reserve’s measures ultimately leads to a stock market crash, prompting the central bank to turn the ship the other way.

    “The main force that will change expectations of the Federal Reserve’s tightening in 2022 is the stock market plunge, which could be a win-win for Bitcoin,” the report said, adding that the flagship cryptocurrency “is on track to become a digital store of value. “.

    Bitcoin will face a headwind if the stock market falls, but to the extent that declines in stock prices put pressure on bond yields and stimulate increased central bank liquidity, crypto could be the main beneficiary.

    The report also mentions the failure of US Treasury bonds to hold above 2% despite widespread consensus for higher yields, a phenomenon that could lead to a deflationary environment in Bitcoin’s favor next year.

    Make no mistake Bitcoin is still in a bull market

    Source: Bloomberg Intelligence.

    Bloomberg Intelligence explained that funds are moving away from “old analog gold” towards Bitcoin.

    “The question for 2022 comes down to a reversal or acceleration of these flows. As bond yields are declining, we are leaning towards the latter, ”the report says.

    Bloomberg added that Bitcoin’s fixed supply, backed by declining emissions every four years, could help it outperform stocks again next year, giving it an edge over an expanded stock market that hasn’t had a 10% correction since the 2020 crash.

    Posted by Newt Salamander, Analyst at Freedman Club Crypto News




    #mistake #Bitcoin #bull #market

    Bitcoin bull Market mistake
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Avatar of Administrator
    Administrator

    Related Posts

    What is happening in the NFT market in 2023. Which collections are the most profitable

    03.02.2023

    how the decision of the American authorities affected the crypto market

    03.02.2023

    on-chain metrics confirmed the bottom of the market

    03.02.2023

    Kathy Wood called bitcoin the best financial insurance

    03.02.2023
    Add A Comment

    Leave A Reply Cancel Reply

    Recent Posts
    • Many American stars face lawsuits for promoting cryptocurrencies
    • What is happening in the NFT market in 2023. Which collections are the most profitable
    • how the decision of the American authorities affected the crypto market
    • Crypto bloggers will fall under the control of the FCA
    • Top 6 most successful altcoins this week
    Recent Comments
    • 수원출장 on A professor from a US university restored the Tornado Cash code to GitHub
    • 123 on Taproot support added to LND Lightning client
    • houston junk car buyer on 16,000% increase in social media mentions in 2021 Shiba inu
    • Jim Carrey Memy on Bitwise Launches NFT Tracking Index Fund
    • hotshot bald cop on Kava developers launch testnet with EVM support
    Archives
    • February 2023
    • January 2023
    • December 2022
    • November 2022
    • October 2022
    • September 2022
    • August 2022
    • July 2022
    • June 2022
    • May 2022
    • April 2022
    • March 2022
    • February 2022
    • January 2022
    • December 2021
    • November 2021
    • October 2021
    • September 2021
    • August 2021
    • July 2021
    • June 2021
    • May 2021
    • April 2021
    • March 2021
    • February 2021
    • January 2021
    • December 2020
    Categories
    • Altcoins
    • Analytics
    • Bitcoin
    • Blockchain
    • Ethereum
    • ICO
    • Mining
    • Other
    • Regulators
    • Security
    Meta
    • Log in
    • Entries feed
    • Comments feed
    • WordPress.org
    Top Posts

    Subscribe to Updates

    Get the latest sports news from SportsSite about soccer, football and tennis.

    Advertisement
    Demo
    Facebook Twitter Instagram Telegram
    • Home
    • Bitcoin
    • Ethereum
    • ICO
    © 2023 Bt-Crow.com - CryptoNews

    Type above and press Enter to search. Press Esc to cancel.