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USA could massively push crypto adoption in 2022



Bloomberg assumes that the crypto market for Bitcoin and Co will develop positively in the coming year. The United States of America, in particular, should play an important role in this

As a new report from Bloomberg entitled “Global Cryptocurrencies: 2022 Outlook” shows , the US could massively push crypto adoption in response to the crypto ban in China next year. It should Bitcoin shake on the way, the volatility in order to act as a store of value in the future.

Bitcoin acceptance in the US

With the ban in China, the USA could use the situation in order not to lose its own supremacy. Additionally, Bloomberg notes that NFT's growth along with bullish price forecasts could potentially lead the US to accept cryptocurrencies. However, acceptance as a legal tender is not in the foreground.

The report says: “Stimulated by China's ban and the proliferation of revolutionary technologies such as crypto-dollars and non-fungible tokens (NFT), we expect the US to adopt cryptocurrencies in 2022, with appropriate regulation and the associated bullish Price Implications. Stablecoins could be misnamed as most of them follow the dollar. The unlimited supply of fiat currency should support rising prices, especially Bitcoin and Ethereum, which are limited in supply. "

The report also suggests that acceptance of a potential spike in Bitcoin and Ethereum value due to a continued decline in US Treasury bond yields and lower stock yields could follow.

Bloomberg sees Bitcoin still in the pricing phase

Bitcoin is valued by many as a store of value. In fact, Bloomberg feels the current phase is still too early to be able to use Bitcoin as such a store of value. The digital asset is still in the pricing phase but is still well on its way to becoming a store of value. According to the Bloomberg report, the increasing acceptance will also reduce the volatility of Bitcoin.

Regarding Bitcoin's price prediction, Bloomberg states that the first cryptocurrency is well on its way to hitting the $ 100,000 mark and that the reduction in supply will be the main catalyst. Most recently, Bloomberg analyst Mike McGlone had forecast a price of $ 100,000. In addition, the report's authors expect that the declaration of Bitcoin as legal tender in El Salvador will affect price developments in 2022.

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