From bitcoin (BTC) price predictions are flying around you at the start of each new year. This time, El Salvador’s President Nayib Bukele shared his hopes for the new year. However, he did not stop at a simple price prediction.
Bitcoin to $100k and more
In a tweet Bukele today shared six predictions for 2022. The first prediction is that the bitcoin price will reach the magic mark of $100,000. Bitcoin came close in 2021, when it peaked at just under $70,000. However, from the current price level, the $100,000 is still pretty far off.
His second prediction is that two more countries will embrace bitcoin. El Salvador is of course known as the first country in the world to embrace cryptocurrency as legal tender. El Salvador ran into some technical problems in 2021. For example, bitcoins would disappear from wallet.
Bitcoin City starts building
In 2022, El Salvador will also start building Bitcoin City. This is a city that is all about the cryptocurrency with residential areas, shopping centers, a port and everything a city needs. The city is being built with money raised with bitcoin bonds. That would be about $1 billion.
Bukele also expects Bitcoin to be a big topic in the next US election. This would certainly be the case if Bitcoin turns out to be a success for El Salvador (and thus possibly even more countries). In that case, the role of the US dollar could be in jeopardy.
2022 predictions on #Bitcoin:
•Will reach $100k
•2 more countries will adopt it as legal tender
•Will become a major electoral issue in US elections this year
•Bitcoin City will commence construction
•Volcano bonds will be oversubscribed
•Huge surprise at @TheBitcoinConf– Nayib Bukele ???????? (@nayibbukele) January 2, 2022
Other crypto predictions
As said, the predictions fly around your ears in the crypto news. That’s how Arcane Research came about recently with some predictions. One of them is that ripple (XRP) in cardano (ADA) will drop out of the top 10 this year.
Of course, caution is advised with such price predictions. Always do your own research and don’t take predictions for granted.
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