Volatility Ruled Crypto Markets in 2021, From $69K Bitcoin to Elon Musk’s ‘Dogecoin to the Moooonn’

Bitcoin staged a powerful rally to start in 2021, marked by tweets from Tesla's billionaire founder Elon Musk that pushed up the prices of the dogecoin joke token. However, soon, China's crackdown on cryptocurrency mining and increasingly persistent concerns about the environmental footprint of the Bitcoin blockchain cast a shadow over the market. Instead, cryptocurrency traders made all kinds of bets on NFT, tokens tied to video games like Axie Infinity's AXS, and emerging blockchains like Solana and Terra. (Was it fads or a technological revolution?) El Salvador adopted bitcoin as legal tender, with the largest cryptocurrency finally hitting a new all-time high of around $ 69,000. But by the end of the year it was clear that bullish traders would not realize the (widely predicted) dream of a $ 100,000 print.