Will Bitcoin reach $ 100,000 in the first quarter of 2022?

High volatility, institutional adoption and a record price level, 2021 will be remembered as one of the most important years in bitcoin history. The crypto asset started this year from a price base of $ 29,000 and climbed to an all-time high of $ 69,000 on November 8, 2021. Since then, the digital currency has entered a downtrend, with trading now around $ 47,000. Even with the recent correction, bitcoin's 65% gain in 2021 still makes it one of the best performing financial assets in the world. However, BTC's price jump isn't the only reason for BTC supporters to celebrate. Institutional adoption by companies like Tesla and strong networking activities, including the increase in active BTC wallets, record hash mining rate and the increase in the number of BTC whales have made it a strong reason for bulls Bitcoin to be optimistic in 2022. According to crypto analysts, $ 100,000 for one BTC, a price level that has been the talking point throughout the year, may become a reality in 2022. While everyone believes BTC looks set to reaching another all-time high in 2022, uncertainties still loom over how long it will take to reach that goal.

BTC's network activity in the first quarter of 2022 will set the tone for the rest of the year. According to Shazhaev, the price level of $ 100,000 per bitcoin in the first quarter of 2022 is only possible if its network activity jumps to the levels it reached in 2017. "As users' network activity on the Bitcoin blockchain has been higher. in 2017 and if network activity rises to those levels in 2022, the chances of reaching $ 100,000 this year will be much higher, ”Shazhaev added. While the BTC bulls are optimistic about the future price hike of the digital asset, there are still several uncertainties regarding bitcoin. “We don't know yet, many investors pointed out this price months ago, but we don't have any certainty. Also, crypto winter is coming, so wait and see how big whales move BTC, "commented Joaquim Matinero Tor, a Blockchain associate at Roca Junyent.