2021 Witnessed a 75% Rise in BTC in Turbulence
Despite several twists and turns, the crypto market has had an amazing year. Bitcoin climbed from $29,000 to 50K, with a total increase of about 75% throughout 2021. Briefly recall this tortuous year. At the beginning of 2021, BTC’s price was less than $30,000. Subsequently, it fluctuated upwards between February and April. BTC’s price reached a high of $64,899 in the first half of the year. After some fluctuation, the price fell sharply and dropped below $40,000. However, Bitcoin regained its value above $40,000 in the adjustment phase at the end of July. The cryptocurrency trading market sentiment was generally pessimistic at the beginning of September, dragged down by the oversold stock of crypto coins.
Bitcoin trading prices are showing a trend of plummeting. The turning point came in October. The increasing volume of cryptocurrency transactions prompted the participation of banks and financial institutions. For example, U.S. Bancorp announced the launch of cryptocurrency custody services. Thanks to these supporting statements from banks, cryptocurrencies such as BTC have continuously recorded inflows. Therefore, it strongly supported the skyrocketing Bitcoin price, which soared to a record high of $68,000. In the subsequent price corrections, investors returned to rationality and ended up with around $50,000.
BTC Rejuvenated after “Several Kills”
China has been extremely severe in its ongoing campaign, making mining bitcoin and crypto transactions illegal in September. Bitcoin, on the other hand, demonstrates tenacity in the face of adversity. Despite the fact that the government of China had imposed a blanket ban on crypto exchanges, bitcoin skyrocketed above $65,000 in October and November after a short descent.
Besides, Elon Musk’s electric vehicle company Tesla is considering a return to the Bitcoin market after months of suspending Bitcoin payments. Although In May Tesla announced its decision to stop accepting Bitcoin payments and the BTC market was hit hard with fear for a while, BTC resumed its bull trend in July. These fully demonstrate Bitcoin’s ability to recover after such destructive events.
What Can We Expect in 2022?
El Salvador has routinely acquired bitcoins since it became a legal medium of exchange. The country may buy even more bitcoins in the future. In 2022, additional nations may recognize Bitcoin as a form of payment. Market and policy observers expect more remittance-dependent countries to embrace Bitcoin as a legal currency.
What’s more, as inflation in the United States continues to soar, funds are looking for investment opportunities, and more and more investors will turn to Bitcoin in the future.
The famous analyst Altcoin Gordon opines that BTC could reach $100,000 in 2022, which seems to become the consensus of the crypto market. Considering the available opportunities now is a high time to enter the crypto market. However, Big fluctuations still exist. It is critical to select a reliable platform that can assist you design investment plans and maximizing profits.
Maximizing Profits in a Bullish Market
Bexplus provides a 100x leverage tool, allowing you to use 1 BTC to initiate a 100 BTC position by making predictions of whether the price of bitcoin will rise or fall. For instance, if a trader initiates a long position of 100 BTC at $45,000, using Bexplus’s 100x leverage feature, and the price then rises to $50,000 , his profit will be10 bitcoins ($50,000 – $45,000) * 100 BTC / $50,000. The margin required for the trader to prepare, however, is merely one bitcoin. It yields a total ROI of 1000 percent.
What is Bexplus?
Bexplus is a major platform for trading crypto derivatives, and it provides trading with 100x leverage futures trading on a variety of trading pairs like Bitcoin, Ethereum, Dogecoin, XRP, ADA, and others. Bexplus is the trusted choice of over 1M traders worldwide, and no KYC is required. If you are just starting out, the demo account can really help traders improve their skills trading in a realistic environment without the worry of losing actual money. What’s more, it is safe and secure as it is accredited by the Money Services Business (MSB).
Benefits of Bexplus:
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- One-on-one support is available seven days a week, 24 hours a day, 365 days a year.
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