Are Investors Bullish About Bitcoin or Bearish?

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By admin

From the beginning of the month of December, the cryptocurrency sector has managed to earn the top spot in the global headlines due to its fluctuation. As always, the cryptocurrency sector is in the news due to its downfall. This time, the reason behind the downfall and crypto-plunge since the start of December 2021 is the Chinese regulatory crackdown on the crypto-sector in China.

Although China has kicked the entire crypto-sector out, it is the Bitcoin community that has taken the worst hit. It is mainly because, since May of 2021, the Chinese regulators have been taken out Bitcoin mining farms in the country.

Just when it was thought that the Chinese regulators are done cracking down on Bitcoin, they went ahead fully banning the crypto-sector in the country. This has caused the entire crypto-sector to take a huge blow to their market demand and valuations.

Among the rest of the cryptocurrencies, it is Bitcoin that has taken the highest amount of damage. Just when Bitcoin was about to hit the $1.3 trillion valuation mark for the second time, the Chinese regulators pulled it back again.

As of now, Bitcoin’s price is down to $46,817.43, having plummeted 19.23% in the past 30-days and 4.27% in the past 7-days. Although the bulls have been trying hard to make a comeback, yet all their efforts have been countered by the bears. The bears are currently ruling the overall crypto-market and even the Bitcoin enthusiasts are not able to match their might.

During this hard time, the only assurance that the Bitcoin bulls and investors have is its ability to always make a comeback. It is true that the Bitcoin price volatility, bearish trends, and many more issues have been pulling the largest cryptocurrency’s leg. Still, Bitcoin has always managed to keep its head high and has rebounded as the top crypto asset, proving it might over and over.

Before we come to the bullish expectations of Bitcoin, it is important to look over to the other side where the bears are also building up with their expectations.

When the year started, almost every veteran investor and analyst had the same bullish prediction to make about Bitcoin. The majority of crypto-observers made their predictions that Bitcoin would close the running year at a price higher than $100k.

Even the crypto brokers and exchanges had really high hopes that Bitcoin would manage to make dreams come true for many investors. Unfortunately, no one had taken into consideration the Chinese regulatory crackdown that would come into play, ruining whatever positive was expected for Bitcoin.

Given the current situation of the overall cryptocurrency market, it is clear that whatever is left of the running year will bring nothing special for Bitcoin enthusiasts.

Bitcoin won’t be hitting an all-time high in the running year after November 10, 2021. Therefore, Bitcoin enthusiasts do not have to keep their hopes high for the running year. As of now, the general perception of the crypto-verse including Bitcoin until the end of 2021 is bearish.

However, the year 2022 is expected to be full of gaining opportunities and profits for the bulls. This is mainly because although Bitcoin took many low blows in the year 2021, these upsets have strengthened the presence of Bitcoin.

Throughout the year, many flaws have been identified surrounding the infrastructure of Bitcoin and the way it was being acquired. As of now, the majority of the problems have been dealt with and this is the reason Bitcoin is now gaining mainstream recognition on an entirely new level.

In the same year 2021, Bitcoin has made its place in the mainstream sector, and now, it is time for Bitcoin to shine. It is indeed the mainstream sector that is going to help it grow in the year 2022. This will be achieved mainly through the launch of dozens of Bitcoin ETFs that are expected to go live in the first quarter of 2022. This way, more mainstream will be moving towards Bitcoin, and they will be investing in it indirectly. This would set a new milestone for Bitcoin and help it grow beyond the $100k benchmark.