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Bitcoin faces uncertain 2022 after record year

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London: Thanks to the support of traditional finance, the price of Bitcoin hit a record high in 2021, but cryptocurrency experts are working hard to predict the outcome of the turbulent industry next year.

Between December and April 2020, the value of Bitcoin more than tripled, reaching 60,000 USD, but before entering the new year, Bitcoin’s transaction price was already below 50,000 USD.

“The current choppy and directionless price action with a possibility of further pressure to the downside has introduced a lot of uncertainty to the digital asset market,” noted Loukas Lagoudis, executive director at cryptocurrency investment fund ARK36.

He added, however, that “sustained adoption of digital assets by institutional investors and their further integration into the legacy financial systems will be the main drivers of growth of the crypto space” during 2022.

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