The World Economic Forum’s report predicts that the Bitcoin price will continue to rise through the second quarter of 2022 amid continued global inflation fears. According to the US inflation data based on the report, the FED may increase interest rates at the first opportunity. For this reason, it is thought that inflation will cause global pressures and increase fears. Cardano, Solana and Ethereum, which are altcoin projects focused on financial technology, are considered as cryptocurrencies that can stand out with their performance.
Inflation expected to push altcoin and Bitcoin prices higher
The report discussed supply chains and the shortage of skilled workers. It is said that transaction prices are rising as costs are rising and this has become a global problem. Also, while the process is expected to continue until the beginning of the second quarter of 2022, upward price movements may be triggered in Bitcoin and some of the other major cryptocurrencies. According to the report, Bitcoin is essentially seen as a safe haven against inflation. It is thought that institutional investors may turn to Bitcoin in the coming period.
In addition to these, Ethereum, Solana and Cardano were discussed in the report. According to experts, projects focused on financial technology in this area may perform better in the upcoming period. Financial services firm deVere Group is considering adding Ethereum alongside the Bitcoin and other altcoin projects mentioned by CEO Nigel Green. According to Green, “Bitcoin’s pull over other cryptocurrencies will show itself again this week, pushing up other major cryptocurrencies while maintaining its own strength. We can expect fintech development-related cryptos such as Ethereum, Solana, and Cardano to perform particularly well.”
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