Monday, September 25, 2023
HomeEthereum‘Huge Surprise’—El Salvador’s President Issued Six Big Bitcoin Predictions As The Price...

‘Huge Surprise’—El Salvador’s President Issued Six Big Bitcoin Predictions As The Price Of Ethereum, BNB, Solana, Cardano And XRP Limp Into 2022

Bitcoin and cryptocurrencies became the largest year in history in 2021, and El Salvador became the first country in the world to adopt Bitcoin as legal tender (Not everyone is convinced).

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Bitcoin prices have skyrocketed from about $ 30,000 per Bitcoin last year to about $ 50,000 today.Other major cryptocurrencies Ethereum, Binance BNB, Solana, and Cardano Soared much higher, Ethereum prices have risen almost 400% since this time last year, and Ethereum rival Solana has seen a mind-boggling 10,000% rise.

Nayib Bukele, now president of El Salvador’s millennials, has rushed to announce 2022 Bitcoin forecasts, including more than doubling the price of Bitcoin to $ 100,000.

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Bitcoin will reach “$ 100,000” in 2022, Bukele posted To Twitter
, Made a “big surprise” at this year’s Miami Bitcoin conference in April. Plans for El Salvador to adopt Bitcoin as one of the official currencies alongside the US dollar were first announced last year.Bukele’s Bitcoin Price Forecast Pale compared to some, but..

Bitcoin prices peaked slightly above $ 69,000 per bitcoin in November and then returned to less than $ 50,000.During the summer, Bitcoin prices fell to $ 30,000, following the latest Chinese cryptocurrency crackdown and Tesla.
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Many predicted Bitcoin prices to reach $ 100,000 by early 2022, but Bitcoin, Ethereum, Binance’s BNB, Solana, Cardano and XRP are all struggling towards the end of the year. increase. Bitcoin and cryptocurrencies have lost about $ 800 billion in market capitalization since November, down from a peak of about $ 3 trillion amid rising inflation and concerns about the Federal Reserve’s 2022 outlook. ..

After the announcement of the Bukele bomb at the Miami Bitcoin Conference, El Salvador officially made Bitcoin the national currency in September and gradually purchased a total of 1,141 Bitcoins. Reuters Calculation — Regular additional purchases.

Just last month, El Salvador bought another 21 Bitcoins to commemorate the 21st of the last month of the 21st century. Bukele revealed on Twitter. Bio to the “dictator”. The number 21 is important for Bitcoin, as Bitcoin has only 21 million Bitcoins.

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More from ForbesBitcoin’s largest bull made a price forecast of $ 6 million as Ethereum rivals are making huge profits

Bukele’s 2022 Bitcoin forecast also includes: “[two] More countries will adopt it as fiat currency, [bitcoin] Bitcoin City begins construction, a major election issue in this year’s U.S. elections [and] Volcanic bonds will be oversubscribed. “— Refers to the recently announced new low tax city. The city will be built with funding from bonds backed by $ 1 billion in Bitcoin and will be powered by geothermal energy from a nearby volcano.

Some of El Salvador’s regional neighbors, who also depend on the US dollar, said they were watching the country’s Bitcoin experiment carefully for signs of success. Some political leaders say they are ready to adopt Bitcoin if they can reduce remittance costs, as Bukele claims.

Meanwhile, in the United States, the mayors of both New York and Miami are campaigning to become Bitcoin and crypto hubs, both promising to receive Bitcoin salaries and courting investors. increase. At Capitol Hill, Bitcoin and crypto lobbyists emerged as a new force in 2021 and are working to shape the rules for managing crypto space to reflect the popularity of technology.

In December, one of the closely watched analysts said he expected the United States to “adopt cryptocurrencies in 2022.”Predicting the price of Bitcoin “looks like it’s on track for $ 100,000”, the price of Ethereum could reach $ 5,000..

Former Twitter CEO Jack Dorsey has recently resigned from the social media giant he co-founded to grow a payments company. It became a hot topic when he predicted that Bitcoin would eventually replace the US dollar...


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