Christmas Spirit Declines to Add Cheer to Crypto Charts

BMC makes debut as crypto mining energy usage gets intense

No significant price increase was observed in crypto price charts at the beginning of the third week of this month. Bitcoin traded at $49,291 on December 20. However, currently, the price of the popular digital currency is much lower. On international exchanges, the cost of Bitcoin is only around $46,775. Ether lost 1.83% on Monday, continuing trading at $4,128. Based on the crypto cost tracker, the earlier closing amount of Ether was $4,203.

The following coins also showed a marginal drop in prices: Polkadot, Dogecoin, Cardano, Polygon, Shiba Inu. At this time, it is unclear whether Crypto will offer any surprises to investors during the Christmas holidays. Last week, industry experts predicted that the cryptocurrency market is currently full of fears, which may leave it volatile until the end of the year.

It is worth noting that the crypto market is failing to make noticeable progress; While this holiday season, some Fintex companies are launching several cryptocurrency transfer options.

Block and Cash App have created crypto support in apps; Through this, people can give away Bitcoin tokens for up to $1. Robinhood is also expanding its services by adding a cryptocurrency feature to a popular app. Still in beta; Accordingly, the quality is currently being tested.

Bitcoin Progress: Is It Possible until 2022?

Notably, Mexican retail giant Grupo Elektra announced that it would start accepting bitcoins as a payment method on Sunday. They partnered with Bitpay to activate this service. Despite optimism about the use of cryptocurrencies, no positive dynamics are observed in the markets. Bitcoin traded at $46,785.87 worldwide, down 0.43 percent. This gives us reason to assume that in 2021 Bitcoin will no longer be able to set a new record. Consequently, the trend of positive dynamics is also less expected.

Some experts believe that Bitcoin has already passed a critical period and will now be able to progress as in the previous case. However, the fact is that the impressions and expectations associated with the 6-digit mark will not be met either in late 2021 or early 2022. Bitcoin still has a long way to go to regain positions and to set a new record. When the world’s most popular cryptocurrency can return to its glory, we will probably see this next year. However, this year’s Christmas does not promise investors a grand fireworks display. Maybe next time? Let’s see.

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