Bitcoin (BTC) opened the curtain of 2022 with a jump of almost $ 50,000 but today, its price has dropped to below $ 43,000.
Meanwhile, a comparison between the first week of 2021 with the latest, Bitcoin recorded a price increase of 15%.
Although the movement is uncertain, but statistics show that the BTC price has started to stabilize and is expected to record the highest jump in the next few weeks.
Based on today’s BTC price, trading at $ 42,933, analysts predict its value will increase to $ 50,000- $ 60,000 in the near future.
Factors contributing to positive expectations are driven by worldwide inflation.
As Panxora CEO Gavin Smith explained: a definitive interest rate will stabilize inflation. If the value is negative, consumer prices will rise sharply from the level of bond yields.
This situation will lead to bolder action even though the monetary policy set by the central bank is still loose.
Is this a sign Bitcoin will post a new all -time high (ATH) value this year?
The U.S. Department of Labor revealed the Consumer Price Index for 2021 had risen 7% in December over the previous year. As of November alone, the rate had risen to 6.8%, making it the fastest annual increase since 1982.
Although Bitcoin has already bounced back from a slump to below $ 40,000 on January 10, it is still not strong enough to compare to its price standard.
If this crypto king manages to break through $ 45,500 this year, it’s not impossible that the price will soar to higher levels in 2022.
