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By: www.ProfitableInvestingTips.com
Back in the fall of 2015 you could buy bitcoin for a little
over $300. In fact, in February of 2011 it was worth a
dollar! All of that changed in 2017 when it went from
$900 in January to $19,650 by December 15 only to fall
back to $8,500 by February of 2018 and $3,183 by
December 15, a year after its $19,650 peak.
There are two things about bitcoin. Everyone wishes
they had gotten in at a dollar and kept their bitcoin
until now. And, everyone would like to know, where is
bitcoin going in 2022?
Bitcoin Falls to Start 2022
Bitcoin hit $67,584 in November of 2021 and started the
New Year at $47,784 only to fall to $35,070 by the
morning of January 24. The $32,000 drop over just two
months would be considered a 48% market crash for
any stock or index. In the world of bitcoin it is seen as
just another fluctuation. Bitcoin enthusiasts are not
deterred by such fluctuations. Rather they ask where is
bitcoin going in 2022. When is the best time to buy
and when is the best time to sell?
Bitcoin Has No Fundamentals
With a Russian invasion of Ukraine in the offing,
inflation worsening, the Fed ready to announce higher
interest rates, the Covid-19 omicron variant filling up
hospitals, and lukewarm earnings one can see why the
S&P 500, Dow, and NASDAQ may be wavering. But,
bitcoin has no fundamentals, no earnings, no
guaranteed bottom price, and a reputation for “pump
and dump” by those who hold huge blocks of bitcoin.
As bitcoin has fallen we have seen more and more
predictions that bitcoin will hit $100,000 in 2022.
Will Greed Drive Bitcoin Higher in 2022?
It seems that every time there is a surge in bitcoin more
people become convinced that this is the wave of the
future and the path to untold riches. When the big
surge happened at the end of 2017 there really were
people who really did put second mortgages on their
homes as bitcoin approached $19,000 only to find in a
month or two later that their bitcoin was now worth
$6,000 and by the end of 2018 $3000.
If these folks had the wherewithal to hang in there they
saw bitcoin rally again but what commonly happened
is that they sold for a huge loss and were now stuck
with a second mortgage on their home.
Bitcoin Predictions for 2022
Fortune quote a bitcoin “expert” as predicting that
bitcoin will end 2022 at $100,000, triple the value it
has today in dollars. Antoni Trenchev, managing
partner of crypto lender Nexo says that the Fed will
not have what it takes to raise interest rates sufficiently
to stem inflation.
As such, he says, we are in a perpetual era of cheap
money and bitcoin will soar. We have a tough time
believing that the Fed will do nothing and rather
believe that they might overshoot in taming
inflation.
They quote Jeffrey Halley, senior market analyst at
Oanda Asia Pacific who notes that there is the
question of regulation hanging over cryptocurrencies.
He says, “I continue to believe that cryptocurrencies
are the greatest case of financial-market group-think
stupidity in history. The music may keep playing for
part of 2022, but the emperor still isn’t wearing any
clothes.”
We are more prone to agree with the latter opinion. We
would love to have purchased bitcoin at a dollar years
ago but we are of the belief that rather than going to
$100,000 it could just as easily go back to a dollar!
For more insights and useful information about
investments and investing, visit
www.ProfitableInvestingTips.com.

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Where is Bitcoin Going in 2022?

  • 2. Back in the fall of 2015 you could buy bitcoin for a little over $300. In fact, in February of 2011 it was worth a dollar! All of that changed in 2017 when it went from $900 in January to $19,650 by December 15 only to fall back to $8,500 by February of 2018 and $3,183 by December 15, a year after its $19,650 peak.
  • 3. There are two things about bitcoin. Everyone wishes they had gotten in at a dollar and kept their bitcoin until now. And, everyone would like to know, where is bitcoin going in 2022?
  • 4. Bitcoin Falls to Start 2022
  • 5. Bitcoin hit $67,584 in November of 2021 and started the New Year at $47,784 only to fall to $35,070 by the morning of January 24. The $32,000 drop over just two months would be considered a 48% market crash for any stock or index. In the world of bitcoin it is seen as just another fluctuation. Bitcoin enthusiasts are not deterred by such fluctuations. Rather they ask where is bitcoin going in 2022. When is the best time to buy and when is the best time to sell?
  • 6. Bitcoin Has No Fundamentals
  • 7. With a Russian invasion of Ukraine in the offing, inflation worsening, the Fed ready to announce higher interest rates, the Covid-19 omicron variant filling up hospitals, and lukewarm earnings one can see why the S&P 500, Dow, and NASDAQ may be wavering. But, bitcoin has no fundamentals, no earnings, no guaranteed bottom price, and a reputation for “pump and dump” by those who hold huge blocks of bitcoin. As bitcoin has fallen we have seen more and more predictions that bitcoin will hit $100,000 in 2022.
  • 8.
  • 9. Will Greed Drive Bitcoin Higher in 2022?
  • 10. It seems that every time there is a surge in bitcoin more people become convinced that this is the wave of the future and the path to untold riches. When the big surge happened at the end of 2017 there really were people who really did put second mortgages on their homes as bitcoin approached $19,000 only to find in a month or two later that their bitcoin was now worth $6,000 and by the end of 2018 $3000.
  • 11. If these folks had the wherewithal to hang in there they saw bitcoin rally again but what commonly happened is that they sold for a huge loss and were now stuck with a second mortgage on their home.
  • 13. Fortune quote a bitcoin “expert” as predicting that bitcoin will end 2022 at $100,000, triple the value it has today in dollars. Antoni Trenchev, managing partner of crypto lender Nexo says that the Fed will not have what it takes to raise interest rates sufficiently to stem inflation.
  • 14. As such, he says, we are in a perpetual era of cheap money and bitcoin will soar. We have a tough time believing that the Fed will do nothing and rather believe that they might overshoot in taming inflation.
  • 15. They quote Jeffrey Halley, senior market analyst at Oanda Asia Pacific who notes that there is the question of regulation hanging over cryptocurrencies. He says, “I continue to believe that cryptocurrencies are the greatest case of financial-market group-think stupidity in history. The music may keep playing for part of 2022, but the emperor still isn’t wearing any clothes.”
  • 16. We are more prone to agree with the latter opinion. We would love to have purchased bitcoin at a dollar years ago but we are of the belief that rather than going to $100,000 it could just as easily go back to a dollar!
  • 17. For more insights and useful information about investments and investing, visit www.ProfitableInvestingTips.com.