The crypto market seemed to generate optimism among investors in the closing days of 2021, while Bitcoin managed to break above $50,000 after several negative weeks. However, the world’s largest digital asset fell close to $47,000 in the first days of the year.

Are we witnessing what could be the beginning of a recovery after the great crash generated in previous weeks? Or does the fall of December 28 show us that there is neither strength nor optimism for it to take place? Crypto assets seemed to have put a stop to the prolonged bearish movements, and it is that despite the fact that at various times in the last weeks we could observe a mixed market, for the most part we could see positive numbers in most of the assets, which we made believe that Bitcoin and company would start the year on the right foot. This is due to the fact that various factors such as the uncertainty generated by the Omicron variant begin to have less weight, causing investors to once again feel attracted to the higher risk instruments. We were able to observe that Bitcoin, after several difficult weeks in which it lost around 20% of its value, had managed to overcome the $ 50,000 barrier, which had also prompted the other currencies (altcoins) to generate bullish movements. An example is Ethereum, which returned to trading above $ 4,000. However, it was on December 27th when all that optimism would be overwhelmed, after a strong correction of more than 5% will be generated, returning Bitcoin near $ 47,000 and Ethereum below $ 3,800. In the past days, American rapper Cardi B posted a tweet asking Jack Dorsey, who is living his last days as an active CEO of Twitter, if he believed that cryptocurrencies would replace the US dollar. Unsurprisingly, as Dorsey has been one of the leading enthusiasts speaking from entrepreneurs and influential tech sectors in the United States towards blockchain technology and the cryptocurrency market, he responded that Bitcoin will effectively replace the dollar. It should be noted that Jack Dorsey has been one of the most important entrepreneurs in recent years, so his word generates a lot of expectation and enthusiasm among investors.

A few days ago, the Mexican appliance store, Elektra, announced that they will begin receiving payments in Bitcoin, also offering an additional benefit to those who chose to use it as a payment method. Later this weekend, the owner of these stores, the Mexican billionaire businessman Ricardo Salinas Pliego, launched a message on Twitter recommending his followers to invest in cryptocurrencies by the end of the year, which added optimism and generated confidence among the Mexican public. that he is one of the most important businessmen in the country, being the owner and founder of the television station TV Azteca. On the other hand, the former president of the United States and businessman, Donald Trump, described Bitcoin as “dangerous” in an interview for Fox Business. However, controversy has been generated as his wife Melania Trump recently launched an NFT on the Solana blockchain. Are they playing with our minds? Bitcoin is below $47,000, close to a support we already saw before, so this could be a key point in defining the short-term future of BTC. For its part, Ethereum is close to $3,800, coinciding with a level that is also quite interesting. However, it has been in a downtrend since its last all-time high. We have started the year with a fairly uncertain market, which, although at times a rather optimistic outlook was seen, strong corrections arrived. However, the current prices of crypto assets are quite interesting, and we could see a speedy recovery. Regardless, we must be wary of various risk factors such as the spread of the Omicron variant and regulatory policies. Without further ado, we wish you a prosperous New Year, full of success and profit, as well as a great start to the week.