We can conclude that the number of coin holders is increasing every year, based on the latest news from the world of the cryptocurrency industry. This is also facilitated by the leading powers, which at the legislative level began to accept bitcoin as a means of payment. At the same time, the first ETF for Bitcoin was approved in the United States, which made it possible for large investors to buy government-backed coins. If we look at the overall dynamics, in the last year alone, the number of Bitcoin holders in the United States has grown from 23% to 26%.
This development trend has a positive effect on the price of all cryptocurrency assets, since America takes the lead in world consumption. Thus, the processes taking place in the United States affect the rest of the world.
Should we expect cryptocurrency drawdowns in 2022?
Bitcoin halving occurs every four years. This process means a decrease in the income of miners by exactly half. Fewer coins are mined because of this, which creates scarcity and the price rises. After the halving, the year of the hype comes, called the «bull market». This year, the coin price is actively growing, thanks to which more and more investors are making money on quick speculations with little or no risk. The last halving was in early 2021. During this time, the asset price rose from $33,000 per coin to a local maximum of $69,020 per coin.
After a year of hype, the bearish cycle comes. This is the time when for four years the price either stays at the same level, or slowly decreases from the initial indicators. At the moment, the Bitcoin price may still rise to values of $100,000 per coin. But if this does not happen in early 2022, the likelihood of entering a bearish cycle increases. Then the best strategy would be to buy a certain amount of cryptocurrency for a fixed amount every month. Thus, if the price falls, the investor averages the assets, thanks to which he is able to make money on this difference with the subsequent rise in the coin price.
Where to exchange online and what cryptocurrency to buy
Over the past year, the following coins have taken the leading positions in the American market:
- Bitcoin - 46%;
- Dogecoin - 44%;
- litecoin - 26%;
- Cardano - 15%;
- Tether - 9%.
However, Tether is a stablecoin and will not rise in value, so you better look at more reliable options like Ethereum, Zec, Dash.
In order for you to be able to choose an online cryptocurrency exchanger, you need to look at its technical capabilities and reserves. The CryptoExchanger service provides an online exchange of the most popular coins. In this case, the exchange rate at which the conversion takes place is assigned automatically according to the market price. For example, the user will have access to the current price values when exchanging litecoin for ethereum, and the application itself will be processed automatically within 5-30 minutes from the moment of its creation.