Having more than trebled in value to $60,000 between December 2020 and April, bitcoin has lost some shine to trade at under $50,000 heading into the new year.
He added, however, that “sustained adoption of digital assets by institutional investors and their further integration into the legacy financial systems will be the main drivers of growth of the crypto space” during 2022.Bitcoin’s rise in 2021 coincided with Wall Street’s growing appetite for cryptocurrency.October’s peak above $66,000 followed the launch of a bitcoin futures exchange-traded fund , or type of financial instrument, on the New York Stock Exchange.
“There is no certainty in crypto, never mind regulation,” said Huong Hauduc, general counsel at digital assets exchange Bequant. Created following the 2008 global financial crisis, bitcoin initially promoted a libertarian ideal and aspired to overthrow traditional monetary and financial institutions such as central banks.
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