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With the current situation of crypto market many are speculating that we are now entering the bear market but some also believing the bull market hasn't ended yet. Last 2021 bull market was very remarkable, from December 2020 the bulls are showing it's dominance over the bears and even run wildly when January 2021 entered, then bears shut them on May when the market crashed badly almost all coins including Bitcoin fell off -50% from it's last highs.
The scenario when 2022 entered was different, last December 2021 the bulls didn't run like last year and bears even took over the market sentiments into bearish. Mostly are anticipating that bulls will regain it's momentum but as of the moment, crypto expectations vs. reality was happening.
But for people that favors bulls there are some reasons why they always insist that bull run isn't going to end yet. As a crypto novice since I only entered last 2020 upon reading other insights and observing the market my outlook for 2022 also acknowledging the possibilities that the bull run is just around the corner, waiting for it's perfect timing.
Here's why;
Pent-up demand- Last 2020 the whole world was affected by covid-19 and crypto comes as blessings in disguise for many on hedging their funds or finding an extra source of income. Even if the world is slowly trying to recover from the pandemic, the enthusiasm in crypto might not fade away since crypto has great potential for making profit.
Bans and crackdowns - The market crashed last May when Tesla announced to suspend on accepting Bitcoin as payments in purchasing Tesla cars and followed by continues Bans and crackdowns in Bitcoin mining in China, it was very hard punched in crypto market. But if we analyze it could be a blessings in disguise in the future as China holds 46% in Bitcoin production globally with the crackdowns it gives opportunity to other nations to open mining industry and to contribute in producing Bitcoins and other altcoins.
I do believe if China wants to destroy and kill the blockchain technology they could've done it before when it was just about to sprout. Why would they start banning only now that the technology can stand without them holding a large portion of productions? It means they don't want the technology to die, maybe they're just threatened by now as they had their own digital currency which is the Yuan.
Mass adoption - El Salvador was the first country in making Bitcoin as legal tender, with this happenings I know more and more will follow it's path. It might not be Bitcoin but other cryptocurrency coins that can serves it's purpose as peer-to-peer cash. If Bitcoin grows to where it is now before even it's not yet legally accepted as tender how much more now that it was legalize already to a certain country (El Salvador). Some news is that Panama will follow too in making it as legal tender.
If you checked statistics there are top 20 countries that cryptocurrency was adopted. Vietnam, India and Pakistan dominates in doing peer-to-peer transactions with crypto.
Bitcoin Halving - Bitcoin is halving every 4 years, which means a slash of rewards in mining a valid block of Bitcoin by miners can create scarcity of Bitcoin supply. With this the basic economic principles will apply that the higher the demand and low supply can make the asset prices goes up.
Golden Crossover
Image shot from Bityard Chart
The golden cross happened last September 2020 for Bitcoin and also it's hash ribbon cross between the 30-day moving average over it's 6-day moving average. In recent history it always indicates significant gain with trading volumes. Bitcoin hash's ribbon measures the computing power used in Bitcoin network at given period, this means whenever the rate goes up the prices will follow according to it's history. This indicates that the bull run will probably has continuation.
Golden cross is referring to an asset's short term moving average prices crossed the long term moving average.
With the given reasons there are great possibility that Bitcoin bull run will still happen before 2022 ends.
Therefore, my crypto insights in 2022 generally is still positive that the bull run might continue considering the reasons above stated. Additionally, NFT, DeFi and GameFi are also adding up an impact in crypto space since they are crazily going mainstream. NFT's are powering up the GameFi such as Axie Infinity that boomed last year, while new game developed racing game in Polygon Chain is also starting to take off which is the . While DeFi can be a great alternative in growing money rather than putting in banks since the money will grow by letting them works in staking and farming.
Bityard continuesly Innovating
While Bityard as the leading world's leading digital currency trading platform having complex contract but has simple transactions, is also constantly innovating.
Contract tradingDerivative Market they've added Spot MarketForex trading and soon they'll going to add Grid trading. These features made Bityard an all in one trading platform with different markets that traders have different choice in what market they prefer to use.
They've also partnered with favoring traders to purchase their favorite crypto using Visa and Mastercard. Transactions can be done directly using Visa and Mastercard as long as it has funds avoiding many channels to pass through just to buy crypto. Less hassle and lesser transaction cost since it'll occur once only.
Bityard is a legit and trusted trading platform since it was regulated and has 4 regulations license such as Singapore's ACRAUSA's MSB from Financial Crimes Enforcement Network owned by United States Department of Treasury that was intended for US Bitcoin investors, Estonia's MTRAUSTRAC in Australia. With this 4 license, you can guarantee that you are in a safer trading platform that abides trading regulations.
To ensure that the platform aren't listing scam coins, they're also hosting an AMA sessions with some projects that are about to be listed. This AMA sessions helps the community to understand more the project and of course they're also rewarding some users that participated in asking some valid questions about the project.
With this Bityard are ensuring that the coin they're listing is not just some coins that are going to rugpull later on as they are protecting their users in losing their hard earned money..
If you haven't tried opening an account in Bityard feel free to make one and experience their innovate platform through this
Bityard Aslo works with The Giving Block in Saving The Children Charity Campaign
Bityard is really awesome working with The Giving Block in Saving The Children.
The Giving Block is an organization that works in finding nonprofits organization that accepts cryptocurrency as donations, just so donors will have an easy way finding nonprofit organization where they can donate crypto through their platform.
The Giving Block team made this platform for Millennials and Gen-Z donors for them to discover that cryptocurrency is the fastest way of donating.
The Giving Block made solutions for nonprofits seeking donations as they pointed out;
Power a best-in-class donation platform for nonprofits to accept cryptocurrency
Build community to raise awareness of crypto’s potential to fuel social good causes
Create viral campaigns that empower nonprofits to connect with this new pool of donorsSource: The Giving Block
The Giving block already manage to gather 1000+ nonprofits organizations where donors can now donate they're preferred cryptocurrency aside from Bitcoin within a short span of time.
To know more about The Giving Block please follow their social medias and website;
https://thegivingblock.com
Linked In: https://www.linkedin.com/company/thegivingblock/
Facebook: https://www.facebook.com/TheGivingBlock
The Giving Block can help cryptocurrency's exposure in general as the organization that accepts crypto donations will recognized it's existence. They can also help educate them with it's purposes.
