Holiday mode activated in crypto economy as only 5 days are left before coming of 2022. The year is going to end on a high note in terms of cryptocurrencies because most people agree that 2021 was by far the best ever year in the digital currency economy ever. Furthermore, the diversified projects of blockchain-like Metaverse, Defi, and NFTs did remarkably well while astonishing the rest of the world.
The holiday season is here, Christmas has arrived and only 5 days are left in completing the year 2021. Crypto analysts, supporters, community members, and investors have all started to draw a picture of the future outcome of cryptocurrencies. Some of them have even started preparing resolutions for the upcoming year. Perhaps they are thinking about what they should do to ensure that 2022 becomes a better year than the previous one.
Certainly, people have too many expectations from cryptocurrencies in 2022, especially from Bitcoin. There other major concern is relating to policymakers and what they will decide for cryptocurrencies.
Bitcoin has already started to make some gains and so is Ethereum. Gladly, Bitcoin is now over the price range of US$ 50,000 and Ethereum is hovering over US$ 4,000. Going back two days ago, it was looking impossible that there would be any gains fetched by any of the cryptocurrencies.
it is now time for the analysts to amend “Plan B”. Certainly, Bitcoin failed in achieving the anticipated price range of US$ 97,000 which was predicted for November. Failure made it impossible for Bitcoin to even achieve the targeted value of over US$ 100,000 for the month of December. But before amending the “Plan B” experts and analysts want to make sure that New Year resolutions are provided.
For example, the founding member of CoinGecko firm, namely Bobby Ong, feels that crypto education must be made compulsory. He believes that crypto education is essential for ensuring mainstream adoption of digital currencies. His second concern is with regard to security hacks. He pointed out that in December alone, US$ 149 Million roughly has been lost because of security hacks. He urged the crypto community to insist upon security checkers to address the issue and give a solution.
Meanwhile, regarding the future of cryptocurrencies, Microstrategy’s CEO is certain that Bitcoin is devalued. He feels that US$ 600,000 should be the base price for Bitcoin. He however doesn’t stop at here and says that Bitcoin is going to be sold at US$ 6 Million. In the world of crypto, everybody has the liberty to speak what they want and predict what they expect. In fact, what people had expected, has been fulfilled by cryptocurrencies. So the assumption of 1 BTC = US$ 6 M as explained by Michael Saylor of Microstrategy is quite doable.