El Salvador's nayibbukele says bitcoin will reach $100,000 this year, but some industry observers see more value in layer 1 coins. Reports godbole17
a consistent buyer of the dip, a sign of confidence in the cryptocurrency’s long-term price prospects.
While bitcoin rallied nearly 60% in 2021, outperforming traditional assets by a significant margin, the widely-anticipated price target of $100,000 remained elusive, thanks to the U.S. Federal Reserve’sWhile Bukele expects bitcoin to regain its mojo this year, some observers foresee the cryptocurrency underperforming coins associated with layer 1 blockchains like Ethereum, Avalanche, Fantom, Solana.diversification out of bitcoin and into as basket of layer 1 coins as one of the trades for 2022.
According to Jeff Dorman, chief investment officer at Arca Funds, thematic investing is expected to drive most gains in 2022. “From an investment standpoint, Arca remains thematically focused on DeFi, sports and entertainment as it pertains to fan engagement, gaming and NFTs, and web 3,”“As institutional capital enters the market in an exponential fashion, the marginal buyer will far outpace the marginal seller,” Dorman added.