Crypto Analysts Say Bitcoin’s ‘Bottom is in’ – But Will Crypto Always Depend on Markets?

Bitcoin is one of the top crypto coins but its dip has got analysts shocked

Bitcoin has pulled back from a low of $36,600 to finally see some growth in late February 2022. All major cryptocurrencies are still down on seven-day averages – but now 24h percentages are in the green again. It's been a nail-biting few days for crypto investors as crypto's largest token by market cap ($722 billion) has fallen from its all-time high of $68,000 back in November last year.

In this article we will look at analysts' predictions for Bitcoin in February 2022, as well look at how crypto challenger EverGrow aims to break the dependence on market fluctuations.

Bitcoin's 'bottom is in' 

Many analysts in the crypto space are predicting that we're past the worst now. According to Twitter user Crypto5max posted data suggesting that the 'end is near' for falling BTC prices. Crypto5max wrote: "There's a lot of data suggesting bottom's in. I like to see fear in the market and I am of a different (bullish) opinion." 

Another analyst, Twitter user JohalMiles, suggested that Bitcoin investors should not get bearish until Bitcoin prices fall to around $30,000. The crypto market is volatile, however, analysts tend to be comfortable with the cycles of crypto prices. Twitter user Rekt Capital suggested that anytime Bitcoin falls below $38,000 it enters a 'resistance area'. Over the past year graphs show Bitcoin recovering strong every time it fell below this threshold.

The last week of February 2022 remains critical for Bitcoin, however. According to analyst Matthew Hyland, BTC is nearly facing the worst run since the bear market in 2018. He said: "Bitcoin has a week to avoid having its fourth straight red monthly candle for the first time since 2018. The monthly must close above $38,500 to close green."

EverGrow Coin– a cryptocurrency that generates positive volume

Any long-term crypto investor will know that market volatility is a rough ride. Though many cryptocurrencies promise decentralised futures with low fees, little to no government interference, and instant transactions, Bitcoin's value is tied to its utility as a currency. This is different from trading in stocks, where returns on investment (ROI) are related to the generation of goods or services. 

EverGrow Coin is a new kind of crypto, which includes qualified and experienced financial planning and investment expert Sam Kelly as its chairman. In a recent video, Sam explained to think of EverGrow Coin as holding a 'share in an ecosystem of applications that generate income'. He said that EverGrow Coin was never designed to simply be a 'currency' you use to buy goods or services. 

To give a use case example, EverGrow Coin is about to launch the world's first social media and content subscription platform that integrates crypto and fiat payments. The platform, called Crator, allows content creators to be paid however they like and will directly challenge platforms like Patreon and OnlyFans. Any revenue generated by this groundbreaking release will be pumped back into buying up EverGrow Coin (EGC) on the market and sending it to a burning wallet. This not only increases the value of the EGC token but since all EGC transactions have an 8% tax this money is instantly paid to coin holders as BUSD rewards.

EverGrow will launch both Crator and an NFT marketplace within a 'month' according to Sam, with play-to-earn games (P2E) and NFT lending capabilities built-in before the end of the year. Any revenue generated by these applications will mean passive income in EverGrow Coin holders' wallets without them buying or selling any more EGC. 

This interesting model could change the crypto space and mean less dependence on actual token value and more focus on long-term investment strategies – the same as when investing in the stock market. While Bitcoin's price continues to wobble in February 2022 many analysts suggest keeping an eye on projects like EverGrow that could end up bringing more value to investors.