Will we see Bitcoin hitting $100000 mark?

• Many famous personalities and surveys have predicted a massive jump in the Crypto market in 2022
• Bloomberg came with an analysis that stated that Bitcoin and Ethereum are most likely to reach $100k and $5k this year
• Bitcoin is currently at $42,033, Ethereum at $3220, and the total Global crypto Market Capitalization is $1.99 Trillion.

With the beginning of 2022, many prominent and influential pro-crypto personalities have stated their thoughts and predictions this year. The Crypto market will see new heights, and so will the native cryptocurrencies. Many surveys and reports have also said alike. One more analysis report by a Bloomberg Analyst stated that this year Bitcoin would move ahead towards $100k and Ethereum at $5k. 

However, currently, whole markets all over are facing a dip, whether the Stocks market or crypto market. But the Analyst thinks that Despite the whole crypto market going down, that is, most cryptocurrencies and crypto-assets are losing their values, the crypto industry will see a throwback again. While gaining its return and making new highs, Crypto Market will also be having the upper hand over the Stock Market. 

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According to Analysts, other than BTC and ETH attaining new highs, Fiat currency-backed Stablecoins like Tether USDT will also hold a good position in 2022 as they did last year. The market is notably down at this time, and most reports say this is because of hiking of interest rates by FED in the US. Wherever FED starts to see Inflation issues, it’s more likely to increase the interest rates; it has been doing so for four decades now. This increase in Interest Rate could be a possible reason for the downfall in the stock and crypto market prices.

More possible reasons for the declining prices can also be disturbance and protests are creating lack of internet Kazakhstan and power issues facing Eurasia. Due to these incidents, the mining of cryptocurrencies, mainly Bitcoin, has been disturbed. Whatever the reason could be, Analysts are too sure that the market will show an uptrend move very soon.

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The Analyst predicting the aforementioned price hikes in the crypto market had made some successful predictions in the past also. In Dec 2021, he predicted prices of BTC and Gold to go to $100k and $2K, although it’s yet to be achieved. He also successfully predicted the first BTC-exchange fund approval in the United States in 2021. 

Apart from this, many other analysts have also made predictions about the crypto market. A higher official at famous firm Goldman-Sachs, Zach Pandl, has suggested in his latest note to its investors that Bitcoin price will go high this year. Eventually, its market cap will also cover 50% of the total crypto market cap over five years. Not to forget, El Salvador President Nayib Bukele’s prediction also was that Bitcoin would cross $100k in 2022.

After these reports, analysis, and trust of famous firms and individuals in the crypto market, the doubts related to crypto market sustainability and Cryptocurrencies’ liability are more likely to be minimized to some extent.