The Bitcoin price has risen more strongly again in the last 2-3 weeks. Previously, we saw an almost 3-month correction in Bitcoin price, with BTC losing almost 50%. The following 3 factors will determine the development of the course the most over the next few weeks.
Bitcoin Price Factors - 1. Inflation and Monetary Policy
Hardly any other topic has damaged the Bitcoin course as much as the announcement of the increase in key interest rates by the American Federal Reserve Board. If interest rates rise, speculative investments such as Bitcoin would suffer greatly, as investors take less risk.
However, this effect could fizzle out in the future if inflation in the USA or in Europe remains at a high level. In this case, investors would use Bitcoin more than ever as an inflation hedge. The development of inflation and the monetary policy of the central banks will remain an important topic for the Bitcoin .
2. Prohibitions and Regulations
Another topic that should determine the Bitcoin course development in the coming months are possible bans and regulations of the cryptocurrency. Recently, a possible ban on cryptocurrencies in Russia was a big topic. Concerns about possible bans and harsh regulations have often turned out to be unfounded recently.
Strong regulations could also damage the Bitcoin course in the coming months. However, there could finally be more clarity in the regulatory processes for cryptocurrencies. This would especially help institutional investors and make it easier for them to invest in cryptocurrencies.
Bitcoin Price Factors - 3. Mass Adoption and Mainstream Suitability
In 2021, there was a massive institutional adoption of cryptocurrencies. 2022 could be the year of mass mainstream adoption of Bitcoin and other cryptocurrencies. Most recently, 3 major crypto exchanges aired ads in front of hundreds of millions of people at the Super Bowl.
NFTs, DeFi and the Metaverse are also becoming more mainstream. Should the adaptation to the mainstream progress massively in the next few months, this could help the Bitcoin price to reach new heights.
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