Bitcoin Circles $50k On Bullish 2022 Predictions And Thai Tech Stock Surges On Crypto

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Last Updated on 28 December 2021 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 / jeroen@cryptotips.eu
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As we near the New Year, analysts and financial firms are predicting what the biggest cryptocurrency, Bitcoin, will do in 2022. Although criticasters might be hoping for a meltdown, most Wall Street analysts admit that they expect Bitcoin to rise again.

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Bitcoin Spot ETF

With that news in mind, it was good to see that Bitcoin resolutely chose to trade as high as $52k overnight as the final days of 2021 are upon us. This morning, we did see some profit taking causing the world’s biggest crypto coin to fall back to $49k.

One reason for the positivity is the possibility of a spot ETF being launched for Bitcoin in the US next year. As Vijay Ayyar of crypto exchange Luno pointed out:

The Bitcoin Futures ETF that launched this year has been widely regarded as not very retail-friendly given the high costs involved of rolling over contracts which amount to around 5-10%. Increasing pressure/evidence… points to a Bitcoin Spot ETF being approved in 2022 mainly because the market is now large and mature enough to support one.

Others are even more optimistic. Kate Waltman, who manages an accounting firm in New York claims that $100k is written in the stars for the first quarter of 2022. She stated:

The most knowledgeable educators in the space are predicting $100,000 Bitcoin in Q1 2022 or sooner.

Thai tech stock surges

Asian youngsters in South Korea and Japan were the main drivers of the 2017-2018 Bitcoin rally and this time round as well the region is very influential on crypto. In Thailand for example, a tech stock managed to see a 6,700% growth of its price in the past 12 months, which according to analysts was mainly due to the company changing course and becoming a Bitcoin mining company.

In an interview with Bloomberg, Chairman Soraj Asavaprapha said his company plans to invest about $98 million to build up to 7,000 new crypto mining machines next year. He was surprised to see so many Thai youngsters invest in his company, but hopes they will continue to do so.

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