With the law enforcement department of the United States and various other countries shaking up with the laws and regulations of Bitcoins and cryptocurrencies in general, you can come to the opinion that the crypto world is definitely coming closer to becoming a safer haven for crypto investors. They are outright determined to constitute a frame of laws and rules for cryptocurrencies so that they can become an active deterrent for cybercriminals. Know more Beginners About Bitcoin by clicking here.
What Do New Regulations In Bitcoins Predict?
If there are new regulations in the crypto market then that should not send you into a tizzy of panic. In fact, you can consider it to be a good omen for investors who are looking for a better play in the crypto market. It aims to make the market more a stable place and I am quite sure is good for investors. That is because this market is exceptionally volatile and pock-marked with instability.
New regulatory amendments mean it is a potentially great and effective protector of long-term investors. Fraud and scams will be a thing of the distant past. There will be a set of clear-cut rules that will guide investors and tell them right from wrong. And the most important news is that such regulations will aid in minimizing volatility. This will then entail a lot of risks.
Predictions For 2022 In The Crypto Market
Is cryptocurrency going to gain or plummet was the million-dollar question for all of 2022. Although the year is nearing its end, it is still one relevant question in the minds of investors and traders alike. Now people are more interested in knowing whether it will still be volatile or is it going to gain some stability in the market. So now let us see what predictions for 2022 say.
Prediction 1 – Global Acceptance Of Cryptocurrency
Bitcoin, in fact, all cryptocurrencies will gain global acceptance by the global community. It will be used as a means of money transfer even in the poorest of all the nations. He attended a conference on Bitcoins in Ghana. There he saw that even people from Congo, Somalia and many others had all become Bitcoin entrepreneurs and the staggering numbers had left him amazed. This made him believe that Bitcoin will become a truly global phenomenon.
Prediction 2 – More Regulations Will Bind Bitcoins
Nothing can be a more true statement. In fact, the lawmakers of the US department have warranted a few regulations on Bitcoins. Even the UK another leading Bitcoin-using nation has plans of clamping down on some regulations on cryptocurrency. But fear not, these regulations are not to deter the existing Bitcoin users or even the potential users. And this will instead help the users and present them with a safe trade and practice. It will in fact deter the cybercriminals and prevent them from hacking into accounts and clean-sweep them.
Prediction 3 – Bitcoin Prices Uncertain
The price of Bitcoin has fluctuated significantly in recent months, with some experts predicting that it could continue to rise or potentially experience a crash. Some experts, such as Professor Carol Alexander of Sussex University, have suggested that the price could drop further to around $10,000. Prices of bitcoins reached the heights of $69000 by the end of 2021. The inflation started by the month of October and continued till the beginning of next year. However, other experts believe that a crash is unlikely and that the price of Bitcoin could reach new highs in the future, with Sayantani Sanyal of Analytics Insight predicting that it could potentially reach $100,000 in 2023.
Prediction 4 – Meme Coins Will Disappear
It was predicted that most meme coins would disappear from the crypto horizon. But instead, Dogecoin upped the scale and became 44,540,000 per cent higher. Squid, another meme coin named after the television drama, Squid Game climbed more than 75,000 per cent in under a week. But very soon it disappeared from the market. So some went and some retained.
Overall, Bitcoins have had a good year considering the stagnation of the previous years that have been marked and highly affected by the global pandemic. But be warned that you can never predict any cryptocurrency. So the best way to trade is with Crypto Genius for safer practices.