Bitcoin fell about 18%, worrying Omicron in early December. Cryptocurrencies continued to be frustrating for the New Year; Consequently, the downward trend in the festive period has been prolonged. Bitcoin celebrated its thirteenth birthday on Monday. Partly unlucky. The currency fell another 1.2% to $46,388. The most popular cryptocurrency has struggled to gain momentum over the past few weeks after the big sales in the financial markets caused by the Omicron variant.
Ethereum, the second-largest digital currency, largely follows Bitcoin. It similarly lost more than 18% of its value over the same period. Eth fell to $3,813, up 0.5%. Nevertheless, some experts believe that this is only temporary and that the upward trend in cryptocurrency may develop soon. According to some analysts, Bitcoin will rise to $100,000 by June. Companies add digital coins to their treasures.
Algorand, Polkadot, and Chainlink experienced positive movements in their prices; With gains of 2.7%, 0.3%, and 6.1%. Phantom and Cosmos continued to grow. Dogecoin fell 1.0%. Shiba Inu has seen a more significant drop in recent weeks; It has fallen by a total of 25% in the last month.
Bitcoin Fluctuations and Hopes
Now the main focus of crypto lovers is on Bitcoin. Will the king of cryptocurrencies be able to live up to expectations? According to the President of El Salvador, two more countries will legalize Bitcoin this year. However, this is only a guess. Some experts believed that the Christmas currency would reach a 6-digit high last year. Now the expectation is for the summer period.
A positive start to the year has been a sign for many that the currency has a great future. This year, we may indeed become witnessing significant records. In addition, the impact of Bitcoin is reflected in other altcoins. With the weakening of the global pandemic, it will be possible to see a more accurate and clear picture. 2022 promises a lot of news.