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Despite the bear market: These 4 cryptocurrencies have an excellent future

 


How will cryptocurrency prices move in 2022?

Cryptocurrency prices have suffered sharp losses in recent months. In November 2021, Bitcoin reached its all-time high of over $68,000. The other major cryptocurrencies also experienced new all-time highs this month. But as of this month, the entire market is in a downtrend. 

The Bitcoin price and the prices of the Alt-Coins already fell in December. But since the turn of the year we have seen a massive drop in prices. Again and again there were crashes on the market, in which the prices of the cryptocurrencies fell massively by several percentage points within a few hours. This downtrend continued into May when Bitcoin fell below $30,000.


Why did cryptocurrency prices fall?

Many analysts originally expected prices to rise at the turn of the year. The $ 68,000 for the Bitcoin course was only an intermediate station for six-digit Bitcoin courses. But then the prices of the cryptocurrencies fell and a bear market actually developed for several months.


Many external factors played a role in the fall in the Bitcoin price and the prices of other coins. Above all, the announcement of the increase in key interest rates by the US Federal Reserve Bank caused sharp price losses. Furthermore, the flare-up of the virus pandemic in December and later the conflict in Ukraine played crucial roles in the losses in recent months.


What could determine cryptocurrency prices in the future?

In recent years we have seen a trend that the Bitcoin price is increasingly based on the prices of tech stocks on the classic financial markets. This is mainly due to the fact that Bitcoin experienced a massive institutional adaptation. More and more banks, funds, insurance companies and other financial institutions are investing in the most important cryptocurrency.


Along with the increasing popularity of Bitcoin financial products such as Bitcoin Futures and Bitcoin ETFs , the involvement and dependency of the Bitcoin price and thus the entire crypto market on the classic financial market is increasing. This process was to have a decisive impact on the future of cryptocurrencies.

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