It has been more than a decade since bitcoin was innovated, but this cryptocurrency is still in the limelight of the economic world. Bitcoin was introduced to the world on 3rd January 2009 as the first digital currency. The era of cryptocurrency started. More info visit this link http://immediate-edge.co/
Satoshi Nakamoto, the mysterious person, or might be a group, introduced this cryptocurrency with a motto to address the flaws of the traditional banking system and its role in the nation at that time when the whole world was under a big financial crisis and due to this, people almost lost their hopes on the conventional monetary system. Bitcoin brought them a new technology for transferring money directly that cut the need for intermediaries like banks. As a result, it started winning people's hearts, and gradually popularity increased.
Therefore, the importance of cryptocurrency was proved among people, and by this clear path, thousands of other cryptos came into existence. However, bitcoin is still the focus of every crypto conversation irrespective of its high price fluctuating property.
Here is a glimpse of bitcoin-related news and events in the current economic scenario of 2022.
An unexpected drop in price in 2022:
To hear the fact might seem shocking because we all were expecting bitcoin is going to have a new growth higher than its all-time high price in 2021, as per experts. But, unfortunately, bitcoin dropped more than 60% now in December 2022 from the beginning of the same year. In January 2022, the price of bitcoin was, and after this plunge, it became
Bitcoin's market capitalization in 2022:
From the beginning, bitcoin holds the maximum crypto market share. This cryptocurrency has only seen exponential growth from 2009 to 2021 in market capitalization; some minute exceptions are negligible. But 2022 was not a lucky year for bitcoin overall. Similar to its price fall, the market cap also reduced this year. At the beginning of this year, bitcoin's market cap was $729.07 billion, and now in December 2022, it is $313.19 billion, which is an almost 57% decrease within just a year.
Bitcoin predictions 2022 that didn’t meet:
As per predictors, Bitcoin was about to reach as high as $100,000 in price in 2022. Some experts also predicted that this value would again decrease to $10,000 at the end of 2022. However, the former number has not been met by bitcoin, which can be clearly seen, but the latter is yet to see. However, there is little hope as the year is soon to end.
However, this doesn’t restrict experts to stop predicting the future of cryptocurrencies. The thing goes that way, actually. In their opinion, bitcoin, in fact, the whole crypto world, is very new. As a new asset, Bitcoin is expected to be volatile and has uncertain ups and downs, and it will take a long time to settle into a balanced position.
Tim Draper extends the time for bitcoin to meet his prediction:
Tim Draper, the venture capitalist, predicted that bitcoin would reach $250,000 by 2022. However, it is quite clear what the scenario is now in December this year. But, despite the massive fall in bitcoin’s price, Draper is still stuck to his words; he just extended the time for six months. Therefore, now, it is to see what happens by the mid of 2023. Is bitcoin really going to top that much or not?
Latest bitcoin/crypto event 2022:
World Blockchain Summit 2022 will be one of the biggest events for the crypto world, and it is expected to help in the growth of bitcoin as it is the most significant example of Blockchain technology in cryptocurrency. The two-day event is all arranged to happen from 8th December 2022 to 9th December 2022 in Thailand, Bangkok. Nine renowned speakers are invited to this event which is expected to make it a successful event in the history of cryptocurrency.
Conclusion:
As of now, Bitcoin is the world's largest cryptocurrency despite all the downfalls it has shown in this year, 2022. To get more information about this cryptocurrency, you can visit the platform BWC. However, it is an unpredictable asset by nature, and nothing can be done except to wait and see what happens in this world of crypto in the upcoming years.
