Ever since the start of January 2022, crypto has been on a bearish trend. There hasn't been any major movement in crypto prices, as the excitement has faded away. It seems to me that the year will be a bearish one (although crypto is widely unpredictable). All eyes are on Bitcoin, as it's the main mover of the market. If Bitcoin goes up, so will Ethereum and other altcoins. Regardless of the price, development is still on-going.
What do you think? Will 2022 be a bearish or bullish year for crypto?
First, I think it's too early to say what the year will be for crypto, but on a lighter note, I did like to say that I am very positive on what the state of crypto will be this year, though the market might have started and still is struggling to make a significant upward move since the year 2022 began, I still believe that bitcoin will record a new all time high before this year ends.
Why do you think it'll be that way?
Crypto is slowly and steadily gaining approval from many people and even governments are beginning to recognize the power of this technology, musicians worldwide are all gradually coming into the space, some of them even working on launching their own coins and NFTs.
So no doubt, we are gaining much more adoption as each day passes, it's only a matter of time before this begin to reflect in the price of bitcoin and some other major altcoins.