Can the price of bitcoin rise to $60k in 2022? Just as known since 2011 till date, the price of bitcoin keeps rising every blessed year. Even though in some years like 2021, bitcoin experienced an extreme fall in price and market. The probability that it is going rise again to $60k is very high.
This article is deliberately going to enlighten you on everything about the bitcoin market in Africa. Its price performance in the past years, why the price of bitcoin is likely to rise once again in the year 2022, and much other stuff you would find educative as a cryptocurrency lover.
Firstly, looking back at the price performance of bitcoin in the past years, shows how competitive and profitable the crypto market is, especially for bitcoin. Although bitcoin has experienced some rise and fall (fluctuating) of market prices in the past years, it still kept increasing in price and demand every year.
It fell to $30k and then rebounded again. You might ask how do the price of bitcoin gets rebounded again and even increase more than it was in the past? The price of bitcoin always gets rebounded because the price of bitcoin is determined by its demand in the market.
And people most often sell and buy cryptocurrencies (bitcoin) once it experiences a fall in price. And this will increase the market price within a twinkle of an eye and then its become a hot topic in the crypto market once again.
This is not only that but many other factors that influence the rise of bitcoin prices. This is how the market is controlled. And mostly at the end of every year it price increases than usual, this makes it serve as an investment and makes it a hot topic online always.
Why Bitcoin Price Will Rise In 2022
1) Bitcoin has shown steady a rise in value over the years. In the past year, Bitcoin hit its all-time high price of about $68k:
Just as said earlier, bitcoin experienced an extreme fall in price this year. Other sources, confirmed it was because of power breakage in China. This is because bitcoin is known to be mined in huge numbers in China.
But before that, bitcoin has hit its all-time high price which is $68k. The market price of bitcoin is now rebounded and is likely to hit $60k and above in 2022. This and everything shows how bitcoin has been on its steady rise in value over the past years and likely years to come.
2) Cryptocurrency market is becoming more and more regulated. Various governments and investment institutions have introduced some policies and shown interest:
Big companies like Paypal now accept bitcoin, the same way Elon Musk of Tesla also tweeted about them acquiring bitcoin that worth $1.5billion. Although some countries’ governments are now making policies that are favorable to using cryptocurrencies in their countries.
Countries like El-Salvador now made bitcoin their official currency. Trending news like this online makes cryptocurrencies like bitcoin a hot topic online always. And this also helps influence and increase its market price and value.
3) Bitcoin supply and demand will influence its price. (There are only 18 to 19 million Bitcoins currently in circulation, and mining will stop at 21 million.)
Just as said earlier, the price of bitcoin is influenced by demand and supply. And is also through the demand and supply that will determine its value.
And mostly bitcoins are sold and bought in large amount when the demand is low, thus when the market price fall. (According to Statista.com)
The Crypto Market In Africa
Bitcoin is now very popular in Africa. Countries like Nigeria, Kenya, Tanzania, South Africa, and Ghana according to sources are the most countries that dominate the cryptocurrency market in Africa.
Now in Africa, Bitcoin can be used to make purchases of goods as well as services. Some businesses in Africa accept payment through bitcoin. (Just like in the western world businesses do)
The cryptocurrency market rose to almost $105 billion in Africa alone. This shows its dominance and how its gaining popularity and acceptance now in Africa. It also said that almost all purchases or trade of cryptocurrencies like bitcoin was done through peer-to-peer trades (P2P).
Thus, mostly selling Giftcards like Amazon gift cards, Google Playstore, Sephora gift cards, iTunes cards, eBay gift cards, Nike gift cards, and many others for bitcoin.
Also, some also buy bitcoin straight with their local currency like Naira, Ghana cedis, Rands, etc with the help of P2P companies like CoinCola.
Most cryptocurrencies in Africa are bought through P2P platforms… So ask yourself, which P2P platform is the best for me to buy and sell bitcoin?
CoinCola is one of the best P2P platforms to buy and sell bitcoin in Africa. On CoinCola you can;
i: Sell Giftcards for cash
ii: Buy bitcoin with your local currencies straight eg Ghana cedis, Naira, Rands, etc
iii. Sell gift cards for Bitcoin
CoinCola has the safest and easiest platform loaded with features that are going to make trading Simple, Secure, and Fast.
Presently, every new user can begin their first Gift Card Trading on CoinCola and get a $5 Bitcoin Bonus. Click here to register and get the reward.
Any questions, you can contact us on +852 90653442 (WhatsApp)