- The entire crypto market is traveling in a bullish signal.
- In 2021 as a legal tender Bitcoin was adopted by El Salvador.
- Rise in adoption of Bitcoin will make BTC hit $100k in 2022
As all we know the entire crypto market is traveling in a bullish signal, the cryptocurrency market capitalization has increased to $2.5 trillion, which constitutes a doubling in just one year. Crypto giant Bitcoin also experience a huge surge in value. According to the mid-year survey, the total number of crypto coin holders doubled when compared to stats in January.
Furthermore, in 2021 as a legal tender Bitcoin was adopted by El Salvador. Even in many countries, including the US, they have issues with Bitcoin-based ETFs. As a known fact Bitcoin performance is like a roller coaster, so many countries such as Turkey, China, Bangladesh have put curbs and banned Bitcoin trading in their countries.
More so, China had a growing Bitcoin mining industry with thousands of mining rigs in operations, and for some reason suddenly China made all mining activity and cryptocurrency trading illegal. After this Bitcoin had much bad publicity, and the price dropped tremendously. However, the adoption of Bitcoin and other cryptocurrencies is on the rise. Due to this many preferred crypto payments, and many banks and financial service companies want to use crypto to entice and retain customers.
Even more, Google has also announced that it is not pursuing its ambitious plan for full-blown payment and banking services. Henceforth, due to this rise in the adoption of Bitcoin, traders are expecting Bitcoin will reach more heights. And if this continues, Bitcoin (BTC) will hit 100k in 2022.
According to CoinMarketCap, at the time of writing Bitcoin (BTC), the price is trading at $48,793 with a 24-hour trading volume of $30,692,948,118. from, the above chart we can note that, at beginning of this year, Bitcoin is waving in the range of $29.2K. But now the end of this year it was trading nearly $48K. On November 10, it has reached its new all-time high at $68,789.63. As per this year’s stats, we can expect Bitcoin (BTC) to hit $100K in 2022.
