Can Bitcoin Break $ 100,000 in 2022? Some analysts say these are the king's new clothes.

As the Fed's monetary policy changes at the end of the year, some cryptocurrencies are eliminated on the move, while other risky assets are less affected. Central bank policy has become a key part of the discussion about the cryptocurrency's outlook for 2022.

How will the Fed tighten its monetary policy to control inflation? Some analysts believe the answer to this question will help determine whether Bitcoin can continue its 60% increase in 2021.

According to Meta (formerly Facebook) and Apple continuing in the global meta-market, consumers are flocking to NFTs (Non Fungible Tokens), and there is speculation that cryptocurrencies will rise regardless of macroeconomic functioning. One example is when Christie sold an NFT last year for $ 69.3 million.

At 8:40 a.m. New York time on Monday, Bitcoin was trading around $ 47,250, up 0.5% on the day. The following is a discussion from four industry analysts on the outlook for cryptocurrencies and the crypto industry in general in 2022.

Bullish Bitcoin technical indicators

Katie Stocktonbioassay, Founder and Managing Director of Justice Lead Strategies LLC, said, “Based on our long-term measurements, we have a long-term outlook for Bitcoin.

“We believe the long term uptrend will continue and with more determination from new highs Bitcoin may peak at around $ 90,000. At the moment, there are signs that the energy on the downside short term has been exhausted, but the market is. It will always be corrected. Please continue. "

Fed and Metaverse

“Central bank policy will have the greatest impact on Bitcoin and other cryptocurrencies by 2022,” said Antoni Trenchev, director of cryptocurrency bank Nexo. "The Fed doesn't dare let the market fall 10% -20%."

Trenchev expects the market to change rapidly in 2022, but Bitcoin is expected to hit $ 100,000 by the end of June. He believes tokens like Solana and Avalanche won't see as much growth as in 2021. "These new startups will face the same challenges as Ethereum and other older cryptocurrencies."

He wrote: "What attracts me in 2022 is the idea of ​​a meta-world," he wrote. “The reproduction and use of the meta-world is beautiful and chaotic, but it has great potential for the future. The main theme for next year is the meta-world, housing construction and NFT. "

do not believe

Jeffrey Halley, COO of Oanda Asia-Pacific, said: “As we expect skepticism in the cryptocurrency space to continue, along with high-end products, in 2022, we will face to a more difficult environment for cryptocurrencies. The main reason is that “the Fed has started to keep interest rates unchanged and other big banks can comply. This would go against the idea that cryptocurrencies could be exchanged for fiat currencies. "

“The obsession with cryptocurrency is a big threat,” said Halley. “I still believe that cryptocurrencies are the best evidence in the history of financial fraud. Music will continue to play a role in 2022, but that doesn't change the truth that the King was not dressed.

waiting for the App Store

Philip Gradwell, chief economist at Chainalysis, said in an email: "There is more competition than the cryptocurrency app store." The key message of Web 2.0 is that consumers love the platform. I don't think web 3.0 will change this situation. At present, there is no cryptocurrency platform that builds relationships with customers and brings together service providers. By 2022, more and more companies will be at the forefront as Coinbase integrates decentralized financial instruments (DeFi) and NFTs. "