The first half of 2022 is considered a disastrous time for virtual currency exchanges.
Bitcoin and Ethereum, the top 2 candidates in the list of virtual currencies, have fallen far from their peak in 2021. While there are waves of volatility small recently, the virtual currency market in general has stalled. No one knows for sure, and some experts say the value of cryptocurrencies could evaporate further before a sustained recovery.
Bitcoin price hit many new highs in 2021 as well as catastrophic price drops and more big businesses buying. Ethereum, the second largest cryptocurrency, also peaked late last year and plunged below $900 in June, a record low since the virtual currency was born.
Biden officials and administration expressed interest in new regulations for this market.
Regulations for Cryptocurrency
Lawmakers in the United States and around the world are trying to create laws to protect investors, while reducing the attractiveness of cybercrime.
While this will take some time, 2022 has seen a lot of regulatory progress. Many related agencies of the US government embarked on “responsible” research and development of virtual currencies.
As with crypto, these regulations also face hurdles. There are too many different agencies that may or may not have the authority to oversee this matter.
More and more units accept crypto
It is because of market dominance of Bitcoin that many mainstream companies in various fields have taken an interest and some have invested in crypto and blockchain in 2021 For example, AMC accepted payments in Bitcoin last year. Fintech companies like PayPal and Square, which also bet in crypto, are already accepting customers to buy crypto on their platforms.
Many predict many global companies can jump around accepting this cryptocurrency. For example, Amazon or big banks.
The Future of Crypto
We are only assuming the value of the virtual currency to investors in the near future, but the reality is only new investments not based on predictions. Although industry experts have guesses, no one really knows. Therefore, please participate in investments that have risks within an acceptable range.
In other words, you should make a small investment.
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- Source: Plato Data Intelligence: PlatoData.io