Given the volatile nature of the crypto market, businesses have begun to replace large cryptos such as Bitcoin with other stable coins, especially for cross-border payments. Stablecoins are a category of cryptocurrencies that seek to stabilize prices.
At the same time, mime-coins like Dogecoin and Shiba Inu have also found support over the past year. Companies such as Tesla and AMC Theaters have included these coins as payment options.
Like the Bloomberg report, experts in the crypto industry have also made predictions about bitcoin in the year 2022.
The research team of Indian crypto exchange CoinDCX recently reported that altcoins are gaining ground among retail investors. With this, in 2022, we can see other digital assets also challenging bitcoin.
A report also states that bitcoin investors are more interested in depositing than spending this coin. In such a situation, it seems natural for altcoins to move forward as a payment option. Clearly bitcoin holders are expecting big returns on their holdings in the coming days.
By the way, this year has not started very well for bitcoin. Currently, one bitcoin is trading at $45,395 (approximately Rs 33.7 lakh). In the second half of last year, it had reached its high mark of $ 68,000 (about Rs 50.5 lakh).
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