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The President of El Salvador predicts that Bitcoin price could reach $ 100,000 in 2022

  • Nayib Bukele, President of El Salvador, predicted that Bitcoin price could reach $ 100,000 in 2022.
  • Bukele believes two more countries will adopt Bitcoin as legal tender.
  • Bitcoin price has fallen 32% from its all-time high as analysts predict a further decline.

The President of El Salvador believes the price of Bitcoin could reach $ 100,000 in 2022. Nayib Bukele is confident that more countries will adopt Bitcoin as legal tender this year.

Analysts predict a further decline in the price of Bitcoin in 2022

Bitcoin price has fallen more than 32% from its November high, and analysts have predicted the downtrend will continue. Thomas Petterfry, an American billionaire, says it is advisable to have 2% to 3% of personal wealth in cryptocurrencies.

Nayib Bukele, President of El Salvador, tweeted today that he believes Bitcoin price could hit $ 100,000 in 2022. This led to a bullish narrative for bitcoin price.

Bukele believes that two large countries are likely to adopt Bitcoin as legal tender. The asset is well on its way to becoming a major election topic in the US election.

The Salvadoran has forecast volcanic bonds, half of which will be used to buy bitcoin and the other to be used for volcano-powered mining infrastructure.

Predictions for #Bitcoin for 2022:

• Will reach $ 100,000
• 2 more countries will adopt it as legal tender
• Will be a major election issue in the US election this year
• Bitcoin City will begin construction
• Volcanic bonds are oversubscribed
• Big surprise at @TheBitcoinConf

– Nayib Bukele (@nayibbukele) January 2, 2022

Analysts are pessimistic about the Bitcoin price. @venturefounder, a crypto analyst, noted that Grayscale, a leader in digital asset management, has stopped buying bitcoin. The giant hasn’t bought Bitcoin since the GBTC premium turned into a discount.

Grayscale, the largest institutional holder, is slowly distributing over 600,000 bitcoin.

@crypto_birb, a crypto analyst believes the crypto market is rocking back and forth and there is no consensus on direction. As long as there is no trigger in the short term, Bitcoin price could continue its downward trend.

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