“Huge surprise”: President of El Salvador released six big bitcoin forecasts like Ethereum, BNB, Solana, Cardano and XRP Limp price until 2022

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Bitcoin and cryptocurrency experienced their biggest year ever in 2021, with El Salvador becoming the first country in the world to adopt bitcoin as legal tender (although not everyone is convinced).

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The price of bitcoin has gone from around $ 30,000 per bitcoin around this time last year to nearly $ 50,000 today. Binance’s other major ethereum cryptocurrencies, BNB, Solana, and Cardano have climbed much higher, with the price of ethereum rising nearly 400% since the same time period last year and the rival of ethereum solana climbed to 10,000%.

Today, El Salvador’s Millennial President Nayib Bukele released a series of bitcoin predictions for 2022, including that the price of bitcoin will more than double to $ 100,000.

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President of El Salvador Nayib Bukele posted six bitcoin 2022 predictions via Twitter.

AFP via Getty Images

Bitcoin “will hit $ 100,000” in 2022, Bukele posted on Twitter, teasing a “huge surprise” at this year’s Bitcoin conference in April, where El Salvador’s plan to adopt bitcoin as one of the its official currencies alongside the US dollar was first disclosed last time. year. However, Bukele’s bitcoin price prediction is pale compared to some.

The price of bitcoin peaked at just over $ 69,000 per bitcoin in November before falling back to below $ 50,000. Over the summer, the price of bitcoin fell to $ 30,000 following China’s latest crypto crackdown and Tesla TSLA billionaire Elon Musk appearing to degrade on bitcoin – and embracing the memes based dogecoin as a favorite project.

Many had predicted that the price of bitcoin would hit $ 100,000 before the start of 2022, but bitcoin, ethereum, Binance’s BNB, solana, cardano, and XRP all struggled towards the end of the year. year. The combined bitcoin and crypto market cap has lost around $ 800 billion since November, rising from a peak of around $ 3 trillion, as fears swirl over soaring inflation and the outlook for 2022 from the Federal Reserve.

After Bukele’s explosive announcement at the Miami Bitcoin Conference, El Salvador officially made bitcoin a national currency in September and gradually bought a total of 1,141 bitcoins, according to Reuters calculations, regularly buying more.

Last month El Salvador bought another 21 bitcoins to mark the 21st day of the last month of the 21st year of the 21st century, Bukele revealed on Twitter, where he identifies himself as the CEO of El Salvador and last year has briefly changed his Twitter. bio to “dictator”. The number 21 is important for bitcoin because there will never be more than 21 million bitcoins.

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The price of bitcoin has skyrocketed through 2021, but some are predicting an even better 2022 even as the … [+] Binance’s ethereum, BNB, solana, cardano and XRP prices have limped into the new year.

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Bukele’s 2o22 bitcoin predictions also include: “[two] more countries will adopt it as legal tender, [bitcoin] will become a major electoral issue in the US election this year, Bitcoin City will begin construction [and] volcanic bonds will be oversubscribed, ”referring to the recently announced new low-tax city that will be built with money from a $ 1 billion bitcoin-backed bond and powered by geothermal energy from a neighboring volcano.

Some of El Salvador’s regional neighbors who also depend on the U.S. dollar have said they are closely monitoring the country’s Bitcoin experience for signs of success. Some political leaders have indicated that they would be willing to embrace bitcoin if it is able to reduce the costs of remittances, as Bukele claimed.

Meanwhile, in the United States, the mayors of New York and Miami are campaigning for their cities to become bitcoin and crypto hubs, both promising to take bitcoin paychecks and woo investors. On Capitol Hill, bitcoin and crypto lobbyists have emerged as a new powerhouse in 2021, working to shape the rules governing the crypto space that reflect the popularity of the technology.

In December, a closely watched analyst said he expects the United States to “embrace cryptocurrencies in 2022”, predicting that the price of bitcoin “appears to be on a $ 100,000 path” and that the price of Ethereum could reach $ 5,000.

Former Twitter CEO Jack Dorsey, who recently left the social media giant he co-founded to grow his payments company, grabbed the headlines when he predicted bitcoin would eventually replace the dollar. American.

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