Bit Digital Inc. (NASDAQ: BTBT) Remains Optimistic Despite Recent Cryptocurrency Price Fluctuations

Date

5/24/2022 2:01:54 PM

(MENAFN- Investor Brand Network)

The blockchain technology industry is projected to grow to $450 billion by 2028, up from $3.67 billion in 2020, representing a CAGR of 82.4%
The Cryptocurrency market, which was valued at $1.5 billion in 2021, is projected to grow to $2.3 billion by 2028, representing a CAGR of 6.9%
Bit Digital looks to tap into these two markets through strategic investments and Technology
The company is confident that the value of cryptocurrency will continue to rise, despite the recent drastic price fluctuations

Over the past few weeks, the price of many cryptocurrencies have reduced by more than 50%. Industry experts have cited a sell-off in the global stock market as the main reason for this decline. The two largest cryptocurrencies fared better than the average with Bitcoin posting a 24.69% regression and Ethereum posting a 31.7% decline ( ).

In 2021, Bitcoin did quite well with a 70% gain prior to the close of the calendar year. On the other hand, 2022 has seen a shift to more value-based investments instead of speculative stocks and alternative…

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