Bitcoin Beats Wall Street For A Second Year In A Row

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Last Updated on 1 January 2022 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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As 2021 came to an end and Bitcoin finished with a price of $47k, the world’s biggest crypto coin outdid Wall Street and most major stock markets for a second year in a row, with a profit of around 60%.

Two winning years in a row, or a three year streak with a small upwards candle in between is normally all we get since the beginning of Satoshi’s invention, but given that it’s a pandemic economy with possible wintery lockdowns and stimulus cheques, we might see a major follow-up.

In traditional finance, with the Federal Reserve threatening to raise interest rates in 2022 and the ECB and other central banks likely to follow, it is anyone’s guess whether stocks will provide a growth market next year as well. For 2021, tech stocks once again outdid traditional ones.

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Tesla and Coinbase boost

Bitcoin had a great 2021 overall, with great performances in the first quarter (following up a fabulous 2020) and a pat in the back from Elon Musk when Tesla said it would accept the coin as payment in January.

Coinbase, the largest US trading platform for digital currencies, made its debut on the New York Stock Exchange in April, which brought another boost to the world of crypto. The value of the share is currently close to the introduction price of 250 dollars.

ETF and China

And since the end of October, Wall Street has allowed the first publicly traded investment fund in bitcoins which was approved by the American stock market watchdog. It is a fund that follows the price of the most popular cryptocurrency Bitcoin. With a so-called exchange-traded fund (ETF), investors can profit from appreciations without having to buy the digital currency themselves.

Furthermore, the approval of an ETF in the US improves the overall image of bitcoin, which is often associated with money laundering and cybercrime in the MSM, even though this only represents a very small portion of the trades registered on coin platforms. Bitcoin traded at a record high of more than $69,000 in early November. Since then, the share price has fallen more than 30 percent and is now steady around $50,000 for more than a month.

China’s crackdown on trading and mining of digital currencies, among other things, is holding back the price from rising towards $100k, according to experts, as is the risk that the United States and European countries will take regulatory measures. Bitcoin’s price in 2022 is at this moment’s anyone’s guess, but as far as we’re concerned, more of the same seen in the last two years please.

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