Forbes columnist Billy Bambrough, believes that 2022 could be the year when the US will “embrace cryptocurrencies” with a lot of positiveness for Ethereum and Bitcoin.
According to your column in Forbes, Bambrough spoke about the expectations of market analysts for the coming year, in particular the opinion of Mike McGlone, who wrote in a recent analysis that 2022 may be the time when the US moves to more cryptomarketing after better regulations develop.
“We expect the US to embrace the cryptomarket in 2022 with appropriate regulations with positive implications for price. The unlimited supply of fiat money is expected to support a rise in prices, particularly for Bitcoin and Ethereum, which have limited supplies.” said Mike Mcglone, strategist at Bloomberg.
Mike McGlone’s analysis takes into account the recent Bitcoin rally during 2021 which for many was driven by general concerns about dollar inflation, particularly the economic stimulus programs carried out by the Biden government.
Concern remains over the weakening of the fiat currency, which could aggravate the inflation problem, renewing the search for cryptocurrencies as a store of value.
“The decline in bond yields could point to a macroeconomic environment in 2022 that will favor the larger cryptocurrencies, Bitcoin and Ethereum. Crypto-assets showing divergent strength from equities now in late 2021 could be an omen that digital assets will continue to outperform other assets in 2022.” , continued the analyst.
The main argument comes from a greater concern with the US economic scenario and especially with the mechanics of limiting the supply of Bitcoin, with around 90% of coins already mined and the adoption by companies (such as MicroStrategy) and even from countries like El Salvador storing large amounts of coins.
With that, we have the possibility of a 2022 starting with good adoption and low supply, something that, in theory, will end up driving the price up.
Bitcoin ending up with a falling year, like now, is not very common for this market, but it is not a sign of the end of times either, as Bitcoin has already shown to recover from much worse situations.