What is the future of cryptocurrency?

2022 looks like a sad year for crypto investors, as Bitcoin, the largest currency by market capitalization, plunged 50%, to 28,000 from its peak of $69,000 in November. But the question now, is the trend of currencies up or down more?

The most prominent investment banks are divided between optimism and pessimism about cryptocurrencies in 2022. One of the pessimists is HSBC, which has taken a tough stance against cryptocurrencies since the middle of last year, warning its clients not to invest in them, and banning investment through its platform in companies that own these currencies.

Bank of America believes that cryptocurrency returns will decline after about 18 months, in light of the strong decline and volatility expected during the current year with the end of stimulus policies and the decline in liquidity, and thus the inability of the markets to repay debts.

On the other hand, banks and other financial institutions expect cryptocurrencies to rise, especially Bitcoin, but these banks do not necessarily invest directly in cryptocurrencies.

For example, Goldman Sachs believes that a Bitcoin value of $100,000 is possible, as the coin continues to attract investors from gold market.

Standard Chartered Bank also expected Bitcoin to reach $100,000 at the beginning of this year, and expected it to reach $175,000 in the long term, and the value of the second largest cryptocurrency Ethereum to range between $26,000 and $35,000.

Morgan Stanley was the first bank to allow its wealthy clients access to 3 funds investing in cryptocurrency, through its subsidiary Counterpoint Global.

In the end, what do you expect for Bitcoin in the future?