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Bitcoin price explodes to $24,000 – is another bull run coming in 2022?

 


What happened to the Bitcoin course?

The Bitcoin price rose very suddenly to a value of over $24,000. Previously, the price was between $22,000 and $23,000. In the last few weeks we have already seen a slight recovery in the Bitcoin price. At that time, the price went over the $24,000 mark for a very short time. Now the Bitcoin price has been able to stabilize around this mark in the last few hours.

In the past few months, we have seen massive losses in the cryptocurrency. From $68,000 in November, bitcoin briefly fell below $19,000 in June. Since this drop below the $20,000 mark, Bitcoin has been able to stabilize again. But we are clearly in a bear market and massive gains are less likely at the moment.


What caused the increase in the last few weeks?

In recent months, increases in key interest rates by central banks in particular have caused markets in general and the crypto market in particular to suffer. The rise in interest rates makes risky investments in particular less attractive. Many institutional investors in particular sold their Bitcoin holdings.


Inflation has been a big issue in the US and Europe so far. Normally, this should be an advantage for a cryptocurrency like Bitcoin, as it can act as a kind of inflation hedge. However, inflation got so out of hand that it hurt financial markets, hurting bitcoin and the crypto market as well.


cryptocurrency inflation

The markets have now adjusted to higher interest rates. The last increase in the key interest rate by the US Federal Reserve by a whopping 0.75 percentage points caused prices to rise. Markets appreciate that central banks should take inflation seriously. Falling energy costs and good labor market data from the USA provide further optimism. 


Is the Bitcoin price increase sustainable?

The previous increase about 2 weeks ago came after the key interest rate was raised by 0.75%. It was a relief as rate hikes over the past few months have seen markets lower of late. But can the Bitcoin price keep the upward trend in the next few weeks and continue to rise?


Much depends on macro developments in the financial markets. While the Bitcoin price moved in the opposite direction to classic markets in the first few years and this is also due to the nature of the decentralized currency, the Bitcoin has moved more with the macro developments on the markets in the last 2 years. If the markets continue to recover in the second half of 2022, the Bitcoin price could continue to rise.


How high can the Bitcoin price rise again?

In a bear market, we have seen rather less strong price increases in the past. Furthermore, a bear market often lasts for several years. However, it cannot be ruled out that the Bitcoin price can rise again in the coming months. Because of the dependence on the markets, Bitcoin could also rise more strongly this time with the macro markets. 


Bitcoin advantages

However, an increase to new all-time highs is extremely unlikely. This would require a real new bull market. If we look at the last cycles of the crypto market, then this should only come again after the next Bitcoin Halving in 2024. Until then, however, smaller increases are possible. T he $30,000 could fall in the next few weeks . Even increases above 40,000 dollars seem to be possible in the best case.


Is it worth investing in Bitcoin now?

Right now, bitcoin price seems to be at the bottom of the price range for the current cycle. We've just come out of a massive price drop over several months. A rebound seems natural. Furthermore, there are the external influences of the rising financial markets.


The Bitcoin price should rise massively again at the latest by the next bull market. Therefore, a regular investment in Bitcoin should be worthwhile in the coming months. Because the price of bitcoin could hardly be that low in the future.

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