Major corrections happened after Bitcoin peaked, but the crypto coin certainly entered 2022 with more gains than losses
Bitcoin prices have seen highs and lows throughout 2021 and the world’s largest crypto coin has entered the new year with a bash. It has gained much more than last year, reaching its peak of $69,000 during the later part of 2021. In 2022, Bitcoin prices are in the focus, as the crypto coin had encountered continuous falls to reach the $42,000 mark, after it peaked, due to various reasons. One is the emergence of the Omicron variant of Covid-19, which was detected late last year. This triggered investors from withdrawing their intent to invest in risk attest like cryptocurrencies. Major corrections also happened after Bitcoin peaked, but the crypto coin certainly entered 2022 with more gains than losses.
“Bitcoin dominance has hovered around the 40% mark for most part of the year. After reaching a new all-time high few months back, BTC has largely remained range-bound. Bitcoin has transformed from a speculative asset to a store of value. With this in mind, we can expect institutional buying to pick up in 2022,” said Edul Patel, CEO and co founder of Mudrex, a global crypto trading platfrom.