Some of the world’s most popular countries, like the United States of America and India, impose regulations on the group of currencies. However, we cannot be entirely sure about how long it will take to create a good bill for regulating cryptocurrencies, but we are sure it will occur someday. Therefore, the future of cryptocurrencies is very uncertain as if the regulations come up, the movement of prices will stop eventually. Also, it can lead to the downfall of all cryptocurrency markets and therefore, there are a lot of risks that every bitcoin investor is taking. Bitcoin is the largest cryptocurrency, and if you want to invest in it, you must be well aware of this news. Bitcoin will be the first to get legalisation across the world if some Regulations come into the market about crypto.
Bitcoin has been experiencing ups and downs this year very much. However, the prices have been going higher for the last two weeks. If you are someone who is holding a lot of bitcoins, the news is good for you. It has again raised a mark of $50,000 in December, which can greatly benefit you. In the past 24 hours itself, there has been an increase of 1.89% in the value of bitcoin. In India, bitcoin is trading at Rs.40,20,591, which is approximately $20,900. 2021 is about to end, and bitcoin’s journey has been incredible and adventurous. This year had many major events that affected the value of bitcoin to a large extent. If you pay close attention to the prices of bitcoins throughout the year, you will find that it has been a great mark in the history of cryptocurrencies.
2021 in retrospect
In January, Tesla CEO Elon Musk said that bitcoins are going to be the future, and therefore, the company will accept bitcoin as payment. Also, he added that the company is also going to make a $1.5 billion investment in bitcoin which led to the starting of cryptocurrency futures. Bitcoin started to get an increase in its prices eventually after that. In March, bitcoin increased and reached the value of $60,000. According to the experts, the approval of a company providing digital wallet services to the public also boosted investors’ confidence in cryptocurrencies. People started to purchase large amounts of digital coins. However, cryptocurrency futures for bitcoin did not remain suitable for a very long period, and in May, the prices started to decline. To know more about it just visit https://allin1bitcoins.com/
The CEO of Tesla said that due to environmental concerns, he may not be accepting bitcoin for a long duration of time and also, China came out with a lot of regulations. China declared that anyone investing in cryptocurrencies would not have any financial protection in the market. It led to the filing of bitcoin prices down to $37,000.In June, an image and event took place. The President of a Central American nation named El Salvador said that he would make bitcoin a legal tender. In any city in the country, you can pay using bitcoins, and it was a total turning point for events. However, a lot of people opposed the decision. Still, the process almost took 90 days to achieve the goal. However, El Salvador did not lead to a considerable momentum in the prices of bitcoins. The BTC prices, later on, kept on falling and reached the price of $30,000.
Also, in September, China banned all cryptocurrency activities, which led to a further decline in the prices of bitcoins. It led to bitcoin reaching a price of $41,000. Also, in October, El Salvador purchased more bitcoins which plays a lot of people’s faith in cryptocurrencies like bitcoin and let the prices to the $60,000 mark. In November, it also reached a price level of $69,000 but later on started to decline.
What to expect from 2022?
In the 52 weeks, there has been an increase of 72% in the prices of bitcoins. Also, when the year 2021 began, the prices of bitcoins reached $32,000. Also, during 2020, the prices were just $20,000 towards the end. Therefore, it says that the outlook on cryptocurrencies for the future is very optimistic. However, we can never be sure about the countries that will regulate the cryptocurrency movements. Suppose that if you live in India, you can never be sure if the government will cut down the movement of cryptocurrencies or regulate it. Therefore, the uncertainties remain as high as they have always been.