Bitcoins and Cryptocurrencies – Statistics to Know About

Bitcoin, the cryptocurrency, might not have displayed its real potential at the start of the year 2022. However, that does not indicate that its prominence will be lost so easily. An optimistic growth was witnessed in the last few weeks – which showed that despite its volatility, the prices of Bitcoins will go on rising with effective mining of Bitcoins.

BTC has been up around 70 percent

Since the start of 2021, Bitcoin has been up around 70 percent. There is a high possibility that the market for crypto currency is going to reach a combined value of $2 trillion. In fact, it might be able to surpass the US$100,000 mark soon enough. After the ongoing bearish trend in the prices of BTC, this appears to be quite likely in the short term. 

However, there are quite a few predictions from analysts that if BTC manages to surpass its previous record, it might hit the US$100,000 mark quickly enough. There are major indications towards that.

In the last few years, there has been a transition of Bitcoin from a speculative class of asset to a store of actual value. It would not be wrong to say that it is against the performance of this digital asset that the whole cryptocurrency industry is benchmarked against. 

Several key institutions, nations hold a huge number of Bitcoins in the portfolio. In the past one year, it might have been slightly tricky to predict the price of this digital currency (due to the huge volatility associated with its price). However, before 2022 ends, the prices of Bitcoin might be expected to cross the magic mark of US$100,000. This might be seen somewhere in early 2023 and after that period; the market might enter a correction phase for some time.

Ethereum is likely to edge past Bitcoin

Ethereum, also known as Ether, is not as popular as BTC. But it is being predicted that it will soon become as popular as, or even more popular than Bitcoins. Currently, it is one of the most popular name in the market after Bitcoin. Due to its high gain percentage, its popularity is on the rise. It is being indicated that in 2022 and the year next; Ether will become the winner in the cryptocurrency market – edging past its competitor Bitcoin.

Some other top cryptocurrencies to watch out for in 2022 would be Arcane, Chilliz, Solana etc. These cryptocurrencies are making giant gains these days and giving tough competition to Bitcoin and Ether. In late November 2021, Solana experienced a sudden gain in its demand in the market. It had 450% rally in just a month! Solana can deal with 50,000 or more number of transactions per second. In comparison, around 13 transactions can be processed per second by Ethereum. 

Huge gains by Shiba Inu

Shiba Inu is a very famous meme-coin that was launched as a reaction to Dodgecoin, and it has made huge gains in the last few months. It has gained more than 13,200,000%, as a matter of fact! 

This historic gain of this digital currency has been due to various factors, such as SHIB tokens being listed by so many cryptocurrency exchanges for trading purposes – which is building up the community and raising awareness. The run for Shiba Inu is also being driven by pure emotion-driven purchase runs. 

In July 2021, ShibaSwap – a decentralized exchange, was launched. It lets investors hold SHIB for more duration and stake their tokens. 

Anybody who has invested on this crypto on the first of August in 2020 is now a millionaire. 

Nano Might be the Dark Horse

By market cap, Nano is the 117th-largest digital currency. Nano stands out for its no-fee transactions, and Open Representative Voting (ORV), its consensus mechanism offers differentiation.

Naturally, it is expected that Nano is going to edge past Shiba Inu in the times to come. There is a robust buying opportunity for investors, and unlike most other cryptos out there it does not depend on an energy-intensive printing, minting or mining process. 

Conclusion

The future looks bright for many cryptocurrencies out there, starting with Bitcoin, Ether, Shiba Inu and Nano, and only time will tell how high the growth is going to be.