Bitcoin's position in the crypto market has strengthened significantly in recent months. While there is still a wide range of opinions surrounding it, most experts and analysts are positive, with some expecting BTC to reach $100,000 in the next two to three years. Of course, such forecasts encourage investors to immediately purchase the asset. Is this so clear? The editors of Profinvestment.com figured out whether it is worth buying Bitcoin now and what the arguments are for and against such a move.
A short introduction
Updated 12/21/2021
*Note. This article was written several years ago and has been edited to keep the information relevant in 2022.
What can you see by typing into a search engine the query “Should I buy Bitcoin or not?” Or like this, for example, “Should I buy Bitcoin now?” The picture is standard as always. The first page of Yandex results is occupied by sites with articles written as carbon copies.
Everything is correct. To get to the TOP, for example, of the Yandex search engine. You need to adhere to a number of rules when writing an article. And it’s okay that it will be similar in content to dozens of other similar articles. Such algorithms...
As always, I will not adhere to this strategy. Because in my opinion. Although such an article collects traffic for the site and its owner. But it carries a minimum of useful information for the user. And by and large, it’s okay if fewer people see this post.
But for my readers who will read this post. I will be able to convey my thoughts on buying Bitcoins in 2022.
Not this one. Standard like everyone else at the end of the article. “It’s up to you to buy or not.” What a damn conclusion! This is exactly what people came to the site for. No. Everything will be wrong.
Recommendation for users
Advertising block.
If a user is interested in buying Bitcoin, I can recommend the reliable online exchanger Matby. The service is suitable for both a beginner who is just starting to get acquainted with cryptocurrency, and an already advanced user. Detailed instructions for purchasing cryptocurrency are shown in the video instructions. You can watch it by following the link; the video will also be presented at the end of the article.
In 2022, experts predicted a new increase in the price of Bitcoin, as a result of halving (halving the reward to miners for a found block) or, in other words, a reduction in the issue of digital coins. This already happened in 2012 and 2016, and after a short period of time after the halving, the price of Bitcoin began to grow rapidly and set another maximum.
Therefore, now is the time to think about investing in this highly profitable digital financial asset. Matbi also has built-in crypto wallets for storing 4 cryptocurrencies: Bitcoin, Litecoin, Dash and Zcash. 24-hour technical support, favorable exchange rates, instant exchange of rubles for cryptocurrency without commissions - this is just a small list of the advantages of this service.
Despite the fact that Bitcoin is a highly profitable asset, it is also high-risk. Therefore, it is not recommended to invest all your savings in cryptocurrency, much less go into debt or take out loans. No! Invest only what you are not afraid of losing!
Institutional investors began to actively buy Bitcoin
Based on recently published documents on the US Securities and Exchange Commission website, it appears that Bitcoin has entered a new phase of adoption by institutional investors. According to reports, four large companies have purchased a large number of Bitcoin Investment Trust shares over a recent period of time.
According to information published on the MacroScope Twitter account (a channel dedicated to the activities of institutional companies), the purchase of GBTC by the above firms occurred long before the Bitcoin rally, in the period before June 30, 2022.
For example, Ancora Advisors, based in Ohio, acquired about 13 GBTC. This step, according to experts, demonstrates a significant increase in institutional interest in the digital assets industry, which is a priori a favorable factor for the entire industry.
A little history
No, don’t think that now I will describe the history of the emergence of cryptocurrency and Bitcoin in particular. What does Blockchain mean? I'll tell you a little from my personal experience with cryptocurrency. Towards the end of the article you will understand why I am writing this now. And why do I have this particular opinion about purchasing Bitcoins in 2022 ?
I began to become interested in the topic of cryptocurrencies quite late, when the Bitcoin exchange rate was around $700 . And to be honest, I didn’t understand a damn thing what this thing was or what to do with it. My attitude then was like some kind of lottery or financial pyramid.
Some people will probably find this funny. But I collected my first satoshi absolutely free on the so-called Bitcoin faucets (I wrote about the most popular of them, which has been working for many years, in this article - “Freebitco (Freebitcoin) v 2.0.”
However, after a while, I definitely didn’t feel like laughing at all. When I exchanged cryptocurrency for quite real fiat money.
At that moment, I realized how cool this thing was and what opportunities it opened up. Further more. Slowly, I began to get acquainted with cryptocurrency exchanges and how work is structured on them.
On topic: “The best TOP cryptocurrency exchanges in 2022”
Then the Bitcoin rate began to grow at some absolutely wild pace. And a large-scale insanity began for everyone. From the news on TV to the conversations of ordinary people on the street. At that time, I mostly worked offline at a completely normal and ordinary job. Just like the majority of the population.
Due to the nature of the work, I interacted with many people and different levels of income. People have really gone crazy. Even those who were on a completely different pole from the topic of cryptocurrencies. We talked about mining, buying Bitcoins and its value. Which at that time was already around 10,000 – 12,000 dollars per 1BTC .
Some ran and bought packs of video cards for mining. The price of which skyrocketed instantly and video cards became scarce. They were really being hunted. And then they started mining Bitcoin. And these are people who did not understand the structure of the system unit of a regular desktop PC.
Someone suddenly imagined himself to be a great expert in the field of cryptocurrencies and organized the collection of money from investors to purchase mining equipment. And there were people who were ready to invest in all this and invested a lot of money.
Some of my friends. Moreover, very successful people called me and started telling me about how they successfully invested in Bitcoin and would soon become millionaires. So that you understand, we are talking about cloud mining that is being done in this way.
On the topic: “Cloud mining the whole truth!”
Anyone in the subject understands perfectly well what it is and how even the most seemingly stable offices providing such services ended up. And this was told to me by the director of a large wholesale company with a bunch of branches throughout the country.
But most people simply bought Bitcoin, and this when its cost was already $12,000 per 1BTC . Moreover, it would be impossible to choose some normal exchanger simply by reading reviews on the Internet.
On topic: “Best cryptocurrency exchangers in 2022”
Well, no. Many also managed to lose their money by choosing the first exchanger they found in the search engine to buy Bitcoin. There were also a lot of fraudulent exchangers back then.
And me at this time. I sat in my office looking at all this and, excuse the expression, was quietly freaking out. I witnessed with my own eyes in real time the realities of a show called “Gold Rush” or, more correctly, probably “Crypto Rush” . So this is what it looks like.
Just at the time when all this trash was happening. I already knew a little about cryptocurrencies. And I won’t lie to you, for the most part I was not even based on the information that I could find on the Internet. But rather, he relied on his intuition.
It's always like that for me. I intuitively make decisions and do as I feel. And knowledge. Yes, what kind of knowledge is there? I'm self-taught. And in all areas that are interesting to me one way or another.
By this moment, which is the subject of the story, I had collected, earned, and bought a total of. A little over 1 Bitcoin . Moreover, only about 0.0150000 BTC out of the total amount I have. And this was done rather for the sake of interest and with the aim of checking this or that exchanger or exchange for reliability of operation and the size of the commission.
How did I do this? Let me not answer this question for now. Perhaps there are at least plans to write an article on this subject and post it on the website. But, looking ahead, it is quite possible to do this. It used to be easier and faster, of course, but even now it’s quite possible.
I wasn't sitting with my Bitcoin. And I sold it in parts at the rate of 17,000 - 18,000 USD . Thus, by the end of the well-known year. When the Bitcoin rate reached a maximum of 19,666 USD, my cryptocurrency was completely sold out to zero.
Which, of course, I’m very happy about now.
*Note. I was glad when this post was written, that is, several years ago. Now, of course, I wanted to keep my Bitcoin then. After all, just recently the Bitcoin rate was at around $ 68,000
and that would be completely different money!
Part of the money went to the development of a number of my Internet projects. And part of it is to improve the technical base for further comfortable work on the Internet.
Sorry for such a possibly long story in the first part of the post. But it was impossible without him. Otherwise, I simply would not be able to clearly explain to you my subsequent thoughts about buying Bitcoin in 2022.
1% hate Bitcoin
Billionaire Jamie Dimon, CEO of JP Morgan, called Bitcoin a scam and believes that the currency will inevitably collapse. He said that even if the price of one bitcoin rises to $100,000, his opinion will remain unchanged.
Every year in Toronto there is a banking conference called SIBOS (Swift International Banking Operations Seminar), where the most powerful people in the world meet. The event is hosted by the large SWIFT company. She is responsible for bank transfers around the world. An individual bank moves billions of dollars every year. Almost all banks in the world use slightly outdated SWIFT technology, which handles quadrillions of dollars.
At SIBOS, held in October 2022, SWIFT CEO Gottfried Leibbrandt said in an interview that the company is trying to create technology that will improve security, anonymity and speed. If you read between the lines, it becomes clear that Gottfried is talking about developing his own blockchain. However, he said it will take more than a year to actually launch his technology. Ripple was so confident that it could beat SWIFT that it deliberately scheduled its own SWELL conference at the same time and place as SIBOS. This skirmish led to the successful acquisition of hundreds of new banking partners willing to use Ripple's technology. And this 1% will not risk adopting Bitcoin.
What do experts say about the Bitcoin rate?
So as not to plunge into the jungle of analytics, all kinds of charts and forecasts. My strong opinion is that no one can accurately predict what will happen to Bitcoin. Agree. After all, there are a huge number of examples when the most respected analysts were wrong.
And not only in the field of cryptocurrencies. It would seem that the craziest calculations, which no one took seriously at all, came true and brought huge dividends to those who believed in them.
With Bitcoin, it is generally difficult to make any forecasts. Don't believe those who say they know. What will happen to Bitcoin in the future. Even more. Nobody knows what will happen to him even tomorrow.
There is undoubtedly a group of people with serious money. Whales, as they are also called. Who can quite easily influence the market based on their calculations. Raise the Bitcoin rate or collapse it. This is understandable, these people make money from this.
Remember how many people bought Bitcoin at a price of $19,000 . But serious market players were selling it at that moment. I'm not talking about myself now. At that moment I just intuitively fell into the flow. I entered the market at the most opportune moment and sold it also at the opportune moment at the peak of its value. In general, I was lucky.
There are two opinions from crypto analysts about how Bitcoin will behave in 2022. Moreover, the arguments of both of them look convincing. And it doesn’t matter what their forecasts are based on: cycles, market conditions, or anything else. Whatever one may say, these two opposing points of view say that Bitcoin will cease to exist in the near future. Others that will become a world currency.
My opinion on what will happen to Bitcoin
I believe that a number of interesting events will happen in the world of cryptocurrencies in the near future. And in my opinion, there are all the prerequisites for this. Well, look. Agree that the system of organizing financial markets to which we are accustomed. They no longer specifically fit the realities of the modern world.
In the era of free and accessible information. There are more and more thinking people. There is a greater understanding that user “A” can send funds to user “B” instantly, safely, anonymously, without intermediaries and commissions.
Naturally, this state of affairs does not suit representatives of the global banking system at all. After all, we were constantly convinced that it was so difficult to make a payment from Japan to Africa. And it costs a considerable percentage of the transfer amount. Of course it's worth it. How else will banks make money?
At the same time, bankers also understand that people already understand something. Plus, they are well aware that Blockchain technology is the technology of the next generation. This is actually why they are trying to actively use it for their own purposes.
The structures governing states also understand very well. That by introducing a ban on cryptocurrencies, they simply will not be able to control the processes occurring with it. That is why they are increasingly trying to take on the functions of a regulator.
Even now look. In some countries, Bitcoin and cryptocurrency are prohibited. In some it is allowed and is beginning to be used more and more actively. And most governments don’t even understand what to do with it. But at the same time, they are trying to apply the technology itself wherever possible.
Next point. Surely you have heard the opinion that a financial crisis is very likely in the near future. Which in its scale will be much worse than the crisis of 2008 and all previous crises. By the way, I am also inclined that there will be a crisis.
So here it is. In anticipation of the impending changes, how can you preserve your capital? That's good. We adhere to the fact that there will be no crisis. And suddenly it happened. Question. How many people with some accumulated assets will lose almost everything? Answer. Most people.
Only the strongest and most resilient will emerge. Those who managed to prepare for the crisis. And this is understandable, they have more resources and they have information, unlike us, in a much larger and more complete volume. Accordingly, they will be able to timely throw off ballast in the form of assets that will lose their value and acquire those tools that will allow them to preserve and increase their capital.
By the way, this trend is already observed. A number of large shareholders are actively selling them because they believe that now is a good time to make a profit. Selling the papers at the current high price. This will be followed by a fall and collapse of the market.
Moreover, by selling securities, they invest the freed-up financial resources, including in cryptocurrency. Think about it, if people with multi-million capitals buy Bitcoins, they probably do it for a reason.
After all, if this whole story with cryptocurrency were a soap bubble, they have been shouting about it to us with a certain frequency for more than eleven years now. Would they do this?
Ordinary people, for example, who have their own business. A portfolio of shares. Some kind of real estate. Savings account in a bank. One day, almost everything will be lost. Or maybe absolutely everything. Who knows how this will all happen.
Now let's assume that there will be no crisis, and Bitcoin will gradually go away. Well, I don’t know where it will go, it’s just that cryptocurrency will fade away as some kind of global profanity.
Well then. Everyone seemed to stay the same. With its assets, which continue to slowly grow. Which is probably not a bad thing. Everything is quiet, calm and just beautiful. I would like it to be exactly like this.
But you understand what's going on. I don’t consider myself such an old, experienced old man. On the contrary, I am not that old. But during this time I saw how a state that had influence over half the globe, if not more, collapsed (or collapsed).
And some states simply ceased to exist at all. During my time there was devaluation, redenomination, and privatization of the entire state. Money depreciated three or four times. There were several crises. In my memory there have been so many military conflicts, disasters and God knows what else. And this has happened over more than three decades.
Does anyone really think that everything is over and now everything will be like in a fairy tale? For some reason, I have a strong feeling that, on the contrary, we are on the verge of global upheavals and changes.
Bitcoin = currency for the end of the world?
Bitcoin's most ardent supporters are revolutionaries. Some are hoping that people will stand up and choose Bitcoin over traditional banks. Michael Lewey, author of Moneyball, was even interested in talking to Bitcoin revolutionaries in Silicon Valley because it might make good material for another book. He watched as revolutionaries literally smoked marijuana and discussed ideas for the future, so he decided that Bitcoin was doomed to fail. He also changed his mind about writing a book.
For these revolutionaries to get what they want - that people will lose faith in banks and switch to Bitcoin - the economy of our world must collapse. If this happens, people will lose their homes, jobs and possibly their lives. There are very few active revolutionaries willing to make such sacrifices.
As an Anonymous representative told Vice News, many members of the organization are leaving, filled with mistrust. Others make false promises and do not follow through with their revolutionary plans. And if even a large organization like Anonymous could collapse, what would stop Bitcoin from suffering the same fate?
Should I buy Bitcoin or not in 2022?
I'll tell you how I will act. I don't have millions. Now this is probably fortunate. Therefore, my plan for the near future regarding cryptocurrency and Bitcoin in particular is this. We will proceed from the nearest time period of 1.5 - 2 years . That is, 2022 and partly or entirely 2023, depending on the situation.
Why did I define such a time frame? If we talk only about Bitcoin without taking anything else into account, I still think. That supporters of the analysis of the so-called four year cycles of Bitcoin are right somewhere. And their reasoning makes common sense.
For those who don’t understand what we’re talking about at the end, I’ll leave a selection of videos, look at them, there are very interesting conclusions about how Bitcoin will behave in 2022.
I will continue to collect and purchase Bitcoin in the coming months. Even though it will also become cheaper.
Even if Bitcoin becomes even cheaper, that’s very good. I'll buy it. Those people are damn right after all. They say: buy when everyone is selling and sell when everyone is buying . And even if the price drops even lower than all acceptable psychological levels, it will be very good, and if it’s even lower, it’s just great.
Next, somewhere in the period June - July, I will stop buying and will replenish Bitcoins only through receipts (collections). And I’ll leave everything like this for about a year.
The price for this year will both rise and fall. I won’t do anything. The main thing at this moment is not to succumb to general sentiments and strictly follow the plan.
Now you probably understand why at the beginning of the article I told you how it all happened last time. So here it is. I definitely won’t do everything like that. If in the past from 700 dollars Bitcoin jumped to 20,000. And then fell to 3,000 dollars .
I think something similar will happen this time. only 20,000 quickly enough and this will be just the beginning. The rate will reach the upper value and go down again. And just as last time the lower mark of the fall was around 3,000 from 20,000 , so it is now, but only the lower mark will already be a figure of 20,000 or so.
Note*. The forecasts made 2 years ago have come true in full. This suggests that the strategy was chosen correctly! Therefore, we will continue to adhere to it both in 2022 and 2023.
Bitcoin rate reached almost $20,000
The Bitcoin rate has dropped to $3,000.
The main thing is to wait for the right moment and sell Bitcoin at the best price as soon as possible. And this will happen precisely when everyone is actively buying it, following the general hype. Only, unlike the past, the excitement will be many times stronger than the upcoming one. And if this also coincides with problems in the financial market. Well then something incredible will happen. In any case, it certainly won’t be boring.
Laws against Bitcoin
In October 2022, China stated that it was illegal to create an ICO (Initial Coin Offering). Startups have been exploring how they could use blockchain to create their own coins to raise funds. The only downside was that many of these coins were simply fraudulent. Several companies permanently took millions of dollars from desperate people who tried to invest in ICOs in hopes of getting rich.
In New York, all companies that want to accept Bitcoin must obtain a BitLicense to operate. This license promises to comply with US tax laws and regulations. The application costs $5,000. Most companies simply think it's not worth the money and time.
In 2014, the IRS issued guidance stating that anyone who profits from digital currency must pay taxes in the same way that anyone who sells their stocks or bonds must pay taxes. If the Bitcoin revolutionaries stick to their morals, they won't listen to the IRS. When it smells like tax evasion, law enforcement is right there.
How to buy Bitcoin in 2022 and not lose everything?
The most important thing is not to go to extremes. Let’s proceed from the fact that a person receives 50,000 rubles a month; now it doesn’t matter where this income comes from: a permanent job, your own business, the provision of services, passive income.
Accordingly, there are some expenses: payment of housing and communal services, taxes, mobile communications, Internet, kindergarten, buying groceries, transportation costs, etc. After paying for all these points, approximately 20,000 rubles .
There is absolutely no need to buy cryptocurrency with all this money.
Allocate about 15 - 25% in the first and subsequent months for six months. If Bitcoin takes off. Which I personally really hope for. Even these modest amounts will be enough for you to earn good money.
If the entire cryptocurrency theme collapses. Which is unlikely. Then the losses will be a maximum of 25% of your available funds. Moreover, you will spend this money somewhere anyway. It's good if you need something.
I draw your attention. That I do not incline or agitate anyone to anything. I’m just sharing with you what I myself plan to do with cryptocurrency in 2022.
By the way, there is absolutely no need to focus only on Bitcoin. You can also take a closer look at other cryptocurrencies. Below is a list of the most interesting and promising cryptocurrencies for 2022.
Table of popular cryptocurrencies for 2022
Rates of popular cryptocurrencies as of January 10, 2020
| № | Cryptocurrency | Price in USD | Price in BTC | Capitalization | Exchange volume 24h |
| 1 | BTC | $7,770.86 | 1 BTC | $141,057,231,034 | 760,473 BTC |
| 2 | ETH | $136.98 | 0.018 BTC | $14,960,493,205 | 8,549,325 ETH |
| 3 | BCH | $235.97 | 0.03 BTC | $4,295,021,482 | 1,359,765 BCH |
| 4 | LTC | $44.51 | 0.0057 BTC | $2,853,368,196 | 6,957,319 LTC |
| 5 | EOS | $2.7 | 0.00035 BTC | $2,821,528,042 | 79,914,198 EOS |
| 6 | XRP | $0.203 | 0.000026 BTC | $8,808,746,630 | 996,193,039 XRP |
| 7 | ETC | $5.03 | 0.00065 BTC | $585,544,923 | 39,044,983 ET |
| 8 | BNB | $14.26 | 0.0018 BTC | $2,217,182,595 | 7,224,571 BNB |
| 9 | TRX | $0.014 | 0.0000018 BTC | $1,371,971,686 | 5,028,370,504 TRX |
| 10 | ATOM | $4.32 | 0.00056 BTC | — | 15,437,186 ATOM |
| 11 | BSV | $118.11 | 0.015 BTC | $2,149,421,840 | 525.622 BSV |
| 12 | DASH | $52.07 | 0.0067 BTC | $482,427,173 | 1,061,163 DASH |
| 13 | LINK | $2.18 | 0.00028 BTC | $763,570,763 | 17,462,495 LINK |
| 14 | NEO | $9.17 | 0.0012 BTC | $596,233,261 | 3,979,099 NEO |
| 15 | XMR | $57.46 | 0.0074 BTC | $999,461,367 | 602,726 XMR |
Table of popular cryptocurrencies for 2022
As of December 21, 2022
| № | Name | Ticker | Price (USD) | Ryn. cap. | Volume (24h) | Volume |
| 1 | Bitcoin | BTC | $48.480,1 | $916.87B | $27.96B | 31,95% |
| 2 | Ethereum | ETH | $3.993,88 | $475.38B | $17.89B | 20,45% |
| 3 | Binance Coin | BNB | $526,11 | $87.80B | $1.51B | 1,72% |
| 4 | Tether | USDT | $1,0004 | $76.13B | $58.28B | 66,61% |
| 5 | Solana | SOL | $176,848 | $54.57B | $1.85B | 2,12% |
| 6 | XRP | XRP | $0,92120 | $43.72B | $3.67B | 4,19% |
| 7 | Cardano | ADA | $1,2551 | $43.01B | $1.16B | 1,33% |
| 8 | USD Coin | USDC | $0,9994 | $42.30B | $3.92B | 4,48% |
| 9 | Terra | LUNA | $88,2448 | $32.77B | $3.18B | 3,64% |
| 10 | Avalanche | AVAX | $117,32 | $28.59B | $1.86B | 2,13% |
Compare the data in the tables below. In a short period of time, what gigantic growth! And I think this is just the beginning!
Will real Bitcoin straighten its shoulders?
Since Bitcoin creator Satoshi Nakamoto no longer publishes his opinions, all that's left for coders is his documentation. One person may read one paragraph in the Bitcoin White Paper one way, another another, and there will be no one to clarify the interpretation. Many believe that for Bitcoin to survive, there must be a mass exodus to another platform that is more reliable and faster.
The developers developed a solution called a hard fork, thanks to which the Bitcoin Cash cryptocurrency was created. However, everyone understood that it could have its own problems, so a backup plan was also created for another hard fork called Bitcoin Gold. This plan, known as SegWit2x, was eventually canceled, leading to another sharp increase in the price of the original Bitcoin.
As of 2022, the number of Bitcoins owned by Satoshi Nakamoto is worth billions of dollars, and he has made it clear that he is done with the project. Perhaps he is already relaxing on a private island while coders argue about which crypt to call the “real” Bitcoin.
Where to buy Bitcoins?
To purchase Bitcoins, the article contains a link to cryptocurrency exchangers that are relevant for 2022. All of them have been tested, including by me. I myself use their services and try to keep the list of exchangers up to date. That is, the list contains only the most worthy services for performing transactions with cryptocurrencies.
On topic: “Binance review and crypto exchange news”
If you don’t want to delve into and figure out which exchanger is better, here is a link to the one I use most often.
You can use cryptocurrency exchanges. In addition to exchanging them, you can also engage in trading. But trading on such exchanges is a topic for a separate article. You can also collect free Bitcoins. However, it's not that simple.
Problems with time and mining
The longer Bitcoin exists, the more difficult it becomes to “mine”, that is, to create new coins. Without miners, the Bitcoin network will collapse. The barrier to entry into mining is already too high for the average person, because giant warehouses in China are mining huge volumes of Bitcoin. In most countries, the cost of electricity needed to mine bitcoins will be higher than the cost of the digital currency, making it pointless to even try to extract it.
The longer Bitcoin exists, the more time it takes computers to process information. The official Bitcoin transfer time is “one hour,” but anyone who works with this cryptocurrency knows that this is far from true. Transactions can take up to six hours because the system processes about 15 transactions per second. There is no guarantee that this will be fixed. Quite the opposite.
In contrast, cryptocurrencies are being created that can process 1,500 transactions per second and ensure that the infrastructures and technologies behind them never slow down. In the digital age, people want everything to happen instantly, so slowing down blockchain is simply unacceptable. The faster the cryptocurrency, the better.
How to buy Bitcoin?
Sorry, but here I have to place some advertising. The site needs some development...
Technically, creating your own wallet and buying Bitcoins is not difficult. Anyone who thinks that this is very difficult, it is not. I have prepared simple step-by-step instructions for purchasing Bitcoins, which you can also use to purchase other cryptocurrencies. You can find it in this article - “How to buy Bitcoin (Bitcoin, BTC) for rubles, through Sberbank with a minimum commission.”
