Recall, the scenario of growth above 100 thousand dollars by the end of 2021 was actively supported by analysts, Influencers and experts. Actually, in such a way they supported the version that markets often repeat the previous patterns, i.e. the behaviour. As such, they expected Bitcoin to give out an active rise in December - just as it did in 2017.


And while BTC rose to a record $69,000 in the first half of November, it is now well behind even that high. Here’s a four-hour chart of the cryptocurrency.

A four-hour chart of Bitcoin’s exchange rate

Will Bitcoin’s price rise?

In his recent interview, Hogan said that a target of around $100,000 looks too optimistic right now. Here’s his quote on the matter, published by Cointelegraph.

Rising to $100,000 is too bold a prediction. I think Bitcoin could take that milestone in 2022, but it’s unlikely to happen before then.

Accordingly, the expert hints at the need for the cryptocurrency market to recover from the recent fall. Indeed: If we recall the events of May and summer 2021, Bitcoin and other coins needed more than one month to resume their positions and start growing. On September 7, however, the niche suffered another massive collapse - then coinciding with the recognition of Bitcoin as official tender in El Salvador.

Bitwise chief investment officer Matt Hogan

Hogan said the cryptocurrency’s potential rally in 2022 will be largely due to the growing demand for Bitcoin from large institutional investors. The expert continues.

In 2022, we will still have fundamental market drivers in the form of the institutional investors we talk to every day at Bitwise.

Which means that overall the investor confirms that the market has not yet peaked, and there will most likely be new upward moves waiting for us afterwards. And that seems logical, as BTC was able to jump above $50,000 fairly quickly after the recent crash to the $42,000 zone. Consequently, many people find the cryptocurrency attractive at this price - and they are keeping the niche from sinking further.

Bitcoin price over the past 30 days

Hogan also predicted that there will be an “explosion of Ethereum-based activity” in 2022 and in tier one competitor projects like Solana or Avalanche.

Investors will be interested in the potential of Ethereum, Solana or Polygon. They are starting to realise that cryptocurrencies are not just about Bitcoin. If there is going to be another popular trend, it will focus around cryptocurrencies in DeFi, NFT, Web3 and meta-villages.

As a reminder, a metavieworld is a virtual space in which people interact. This is possible thanks to virtual reality helmets, computers or other devices. The topic is trending right now, so some investors are spending hundreds of thousands of dollars to become Snoop Dogg's virtual roommate, for instance. Read more about this at the link.

There aren’t many US congressmen among big investors in crypto – they shouldn’t keep digital assets in their investment portfolios. This statement was made the day before by prominent congresswoman Alexandra Ocasio Cortez. She left a comment on her Instagram page, in which she supported the principle of no self-interest in investments among politicians. Here’s the line Decrypt cites.

Since we have access to confidential information and forthcoming policy details, I don’t believe members of Congress should own and trade individual stocks or other assets. I prefer not to hold them in order to remain impartial about passing legislation. This also applies to digital assets.

Accordingly, bitcoins are not available to Cortes. Neither are any other digital assets.

Congresswoman Alexandra Ocasio-Cortez

Recall that in 2017, she was asked if she accepts Bitcoin as a donation for her political campaign. Ocasio-Cortez responded with a no and said she would not accept crypto until it became an official option at ActBlue, the preferred payment processor for political donations to Democrats.


We don't think we should expect cryptocurrency rates to hit new records in the coming weeks, as the market usually needs time to recover from such major collapses. However, investors should be prepared for all scenarios, because anything can happen in crypto.


What do you think about it? Share your opinion in our Millionaire Crypto Chat. We’ll talk about other related topics there as well.