BTC BitCoin ‘s monopoly on crypto has been broken; market weight dropped to 40 percent BitCoin price Prediction 2022
BTC BitCoin Price Prediction 2024
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With the dominance of BitCoin falling from 95 percent to 40 percent in the crypto money market, which reached over $2 trillion in 2021, the market equilibrium was established as a result of the shrinking of whales’ trading volumes. Illegal activities in the market, which followed a balanced course with the returns of other investment instruments such as gold and the stock market in the ecosystem, also decreased below 1 percent. It is expected that the speculative image of the market will be completely broken with the effect of the regulations to be put into effect in 2022.
Developments in the crypto money market, which closed in 2021 under the shadow of harsh fluctuations, show that the balances are starting to settle down. According to Coin MarketCap data, the weight of BitCoin, which dominated 95 percent of the market 4 years ago, decreased to 40 percent in 2021. The market share of currencies such as Ethereum, Tether, BNB, and Cardano, which are in the top 10 among crypto assets, has reached 20 percent. Ethereum, the most preferred cryptocurrency, gained over 400 percent in 2021, while BitCoin remained at 70 percent. Stating that the regulations, which were partially postponed during the pandemic process, will save the market from being speculative in 2022, Paritex CEO Özgür Serkan Uslu said, “2021 was a period when illegal activities over cryptocurrencies decreased.
The image of BitCoin, whose market share has narrowed, dominating the market has been destroyed. The increase in the value of crypto assets other than BitCoin, on the other hand, shows that the balances are settled.” According to the shares of Kaiko, which operates as a data provider for crypto money markets, BitCoin’s correlation with Nasdaq came to 0.61 points, while its correlation with S&P 500 remained at 0.58 points. This shows that bitCoin has gained a close movement to traditional investment vehicles. The decrease in the trading volume of whales, which are defined as large investors in BitCoin, also supported the market balance. This opens up space for small investors. The era when whales swallowed small fish is over. Investor balance has also been established in the market.” “As Paritex, we have provided a secure structure to purchase and sale transactions with our blockchain technologies and high-level security infrastructure that we offer in 3 continents. We protect crypto assets in offline multi-signature cold wallets away from all kinds of cyber attacks.” As Paritex, we will support domestic crypto money projects. We will carry out the task of incubating domestic crypto money projects that will contribute to the ecosystem to become global projects. Our ultimate goal is to contribute to our economy by bringing foreign currency abroad to our country,” he said.
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