The past three months have been turbulent, with many of us having to weather the storm of Bitcoins stagnant low prices, financial disarray in Europe, and bold predictions not coming true.
Although Bitcoin looks to be bouncing back as we enter the spring season, we’re still hoping to see it return to similar values from Q3 and 4 in 2021.
Just to help jog your memories - in September last year, Bitcoin reached a value of around $68,000. However, as of this moment of writing, its value stands around $45,500.
A few analysts predicted that Bitcoin would reach a value of $100,000 by the end of Q1 2022, but as that date draws nearer, it’s becoming highly unlikely.
But as ever, the life of a crypto investor has never been straightforward…
Every year we are faced with massive highs and slumping lows, but we make it through because we have a deep faith that we are only in the teething phase of what will eventually become a crypto driven world.
And as faith in the future continues to grow, many of us know we have made the right decision to invest in crypto for the long hall.
So…. so far, so good?
If we just look at Q1 through the lens of Bitcoin, things don’t look too great, but that's not to say that there haven’t been some great moments.
Biden’s executive order
Although we have covered this fairly recently, you can’t talk about crypto in Q1 of 2022 without mentioning Biden’s executive order that plans to look at the long term future of crypto in the US.
Without giving you the full run down, you can take away that crypto is here to stay.
The US government's decision to bring in some form of regulation to ensure fair trading and investor safety is proof of that.
If you want the whole story, you can find it here.
Algorand has seen some excellent growth
Algorand has started the year excellently, and the name is on the tip of every crypto analyst's tongue as Algorand continues to grow its account membership at rapid rates.
To be exact, Alogorand has increased its account membership by 35% in 2022 and is showing no signs of slowing down.
One of the biggest selling points for Algorand has been their Pure Proof of Stake (PPoS) blockchain consensus mechanism that randomly selects nodes to propose a block. Then a randomly selected committee verifies and votes to validate.
This consensus mechanism eliminates any sort of collusion and keeps things fair for investors.
Although Algorand is nowhere near the level of Bitcoin or Ethereum, the new crypto safeguarding technology shows a keen interest from the market as a whole in improving crypto trading.
So far, so good?
The emergence of APE coin
As you may have heard, the Bored Ape Yacht Club has taken the NFT world by storm, becoming the most influential NFT Avatar collection globally.
And while creators Yugo Labs initially handed out APE coins to members of the BAYC, they have since become available to buy, sell and trade on all major crypto trading platforms.
APE coin plans to become fully integrated into the first age of the metaverse by allowing users access to unique games and experiences.
But is this all smoke and mirrors? It’s too early to say, but APE coin already has some huge names to serve as members on its blockchain board. Most notable:
- Reddit co-founder, Alexis Ohanian
- Principle at Sound Ventures, Maaria Bajwa
- Head of ventures and gaming at FTX, Amy Wu
So, even if you’re not convinced, it’s worth keeping an eye on this one for the rest of the year just to see how things play out.
Although it’s had a tough time these past few months, Bitcoin will bounce back - it always does and although there is no crystal ball to say by how much and when, we can be sure that Bitcoin is not going to become worthless.
It has been the flagship cryptocurrency for years, and it looks like it will remain so for years to come.
So what are the positives to come from Bitcoins sultry Q1?
Well, it’s allowed many of us to buy Bitcoin at a low price.
Although it gets said every year, 2022 could be an excellent year for Bitcoin. Not only could stock prices rise back and above last year's values, but we could also see more integration into everyday purchases.
From buying a beer to buying a house, Bitcoin may become as integrated into everyday life as the dollar or the pound.
So far, so good? Yes!
If you’re one of those (like most of us, no doubt) who gets sucked into doom scrolling and looking at crypto prices almost religiously, you will undoubtedly see Q1 of 2022 as a catastrophic failure.
But alas, take a step back and look at crypto as a whole - what has been and what is to come! The future is crypto. If you don’t believe it, just look at the future of Meta and Web 3.0.
Both will be integrated with Ethereum’s blockchain technology, and with the rise in NFTs; day to day crypto transactions, you can be sure that things are moving in the right direction.
By the time you’re reading our assessment of Q2 of 2022, we hope that things will have improved significantly and that your digital wallet will be feeling a bit more full. But until then, remember that the road to a crypto future will be a bumpy one.
For those who see the true potential in blockchain technologies, you can start investing today with Nebeus.
La inversión en criptoactivos no está regulada, puede no ser adecuada para inversores minoristas y se puede perder la totalidad del monto invertido.