The cryptocurrency market has experienced tremendous growth this year and is expected to grow further in 2022.
Bridgewater Associates head Ray Dalio recently spoke about Bitcoin and the broader cryptocurrency market. According to Dalio, Bitcoin has proven its worth, and the leading cryptocurrency is expected to become even more valuable in the coming years. He stated that;
"It's already proven itself. It wasn't hacked, it's worked amazingly over those 11 years, it's probably been the most exciting topic among many people. It's been used and has now gained imputed value status."
Dalio has been a strong supporter of cryptocurrencies in recent years and believes the value of Bitcoin and other key crypts will increase in the next year. The billionaire also mentioned the increase in non-fungible tokens, stating that their value would increase over time.
According to him, non-fungible tokens are real. However, similar to other developments in their early days, NFTs need time to get established and be noticed by society. He added that he intends to own NFTs.
The cryptocurrency market has experienced tremendous growth in recent months, with the prices of most currencies increasing by more than 100% during this period. Bitcoin started the year trading above $30,000 but is now trading above $50,000, an increase of more than 70% in recent months.
Ether, the second-largest market capitalization of cryptocurrency, has also risen more than 100% since the start of the year and is now trading above $4,000 per currency. The total value of the cryptocurrency market is currently above $2 trillion, a big improvement from the $1 trillion recorded earlier this year.
Several experts and market analysts predict Bitcoin's price will rise higher in 2022, with some adding that it could hit the $100,000 mark in the coming months.
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