How will the last week of 2021 for bitcoin be? Bull and Bear?
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Last week of last month of year 2021. This year we saw bitcoin as well as many more cryptos reach their maximum value. Bitcoin was at $28130 in January of this year and reached $69000 in November. At the time of writing this article, the price of one bitcoin was hovering around $50,900. Bitcoin picked up momentum last week when the price jumped from 45558 to $51810 but the sell-off caused the price to drop again.
If we look now, the price of bitcoin according to the weekly chart should go down to around $43800. Here the price can get support but if the price falls from here, then we can see the price between $ 30,000 to $ 35000 thousand. Here we have to take care of one thing that bitcoin can go up once before going down but it can go down from $54300 to $55100 and then come down again. Right now the chart is showing a downtrend.
This year many people expected that bitcoin would go to a million dollars but it did not happen and it was already looking very difficult for it to happen. A million dollars is still a long way off for bitcoin which is expected in 2022. The biggest problem for the price of bitcoin is new projects and new territory in crypto. Today new projects of NFT, Metaverse and Gaming are coming in crypto and people are making big money here by investing in IDO. Any investor invests in crypto only to make money and today investors are making more money by investing in IDO or private sale instead of trading.
Today, El Salvador and Michael Seller are at the forefront of bitcoin investment who are constantly investing in bitcoin and collecting bitcoin. Microstrategy holds 1,22,478 bitcoins and invests in bitcoins every fall.
Small investors are moving towards alts and that is why the price of bitcoin is not going up and the dominance of bitcoin is going down. The price of Ethereum also set a new record this year, reaching the price of $4868. Ether price is currently trading near $4050. According to the cryptoquant website, which tracks the in and out flows of exchanges in the market for trading crypto, the inflow of ether on exchanges is greater than the outflow.
It simply means that there is a plan to book profit by selling Ether at the right time and this will bring down the price. We will see an uptick in the price of Ether after Ethereum comes to the point in 2022. Ether will make more profit than bitcoin in 2022.
DOG and SHIB have caused the biggest loss to investment in 2021. DOG was pumped a lot by Elon Musk and DOG fell below 0.73$ to near 0.18$ today. Same is the case with SHIB and investment is stuck here.
BNB is currently ranked number 3 in the crypto market and its price is close to $550. BNB will go to newer heights in the new year. The use of BSC Chain and investor and trader confidence in Binance Chain could take BNB above around $2500 in 2022. BNB will not be able to exit above Ether but at number 3 it will be there for a long time.
The project that will give the best returns in 2022 is Solana's SOL. The way the use of this blockchain is increasing today for matverse and gaming, we can say that you can easily take five to ten times profit in 2022 from SOL. SOL is close to $200 right now.
Investing in all these cryptos should wait for now because once the market will come down and then we will get the right investment opportunity.
Along with the decline of bitcoin, once the crypto market will come down and there we will get a good investment opportunity.
By the end of this year, it will be a big deal if bitcoin stays even at the price of 50000.