Bitcoin staged a strong rally to start out off 2021, punctuated by tweets from the billionaire Tesla founder Elon Musk that despatched costs hovering for the joke token dogecoin. Quickly, although, China’s crackdown on cryptocurrency mining and more and more nagging issues over the Bitcoin blockchain’s environmental footprint solid a pall over the market. As a substitute, crypto merchants aped into all types of bets on NFTs, video game-linked tokens like Axie Infinity’s AXS and up-and-coming blockchains like Solana and Terra. (Have been they fads or a technological revolution?) El Salvador adopted bitcoin as authorized tender, and the most important cryptocurrency finally hit a brand new all-time excessive round $69,000. However by the tip of the 12 months it was clear bullish merchants wouldn’t notice the (broadly predicted) dream of a $100,000 print.