On one hand we have the decreasing oil supply that is shooting the oil price up to the moon, that in turn has been increasing the fuel prices up to record highs, that in turn will increase cost of transport that affects cost of everything else from groceries to rent.
We also have the conflicts in major oil rich regions (Russia and Arab countries) that is threatening to escalate and cut off more oil from global supply increasing it to over $200.
On the other hand we have the inflation thanks to money printing spree that governments had over the past couple of years and don't seem to want to slow down. Which means price of everything is rising even more while fiat value keeps dumping.
In my experience when fiat is dumping people will look for a way to keep their purchase power or at least part of it. That is achieved by investment. I believe bitcoin has become a viable investment for many because of its deflationary nature and the fact that it has been performing excellently all these years.
To be honest, currently investors are still hedging to safer investment assets such as Gold and Silver because of the Russia-Ukraine conflict and that has also made world oil prices rise drastically.
I think that currently investors are not very interested in bitcoin because the volatility is quite high and the Fed will increase interest rates, because it makes Bitcoin's purchasing power decrease and it also makes investors more careful to put their money into certain assets.
How much do you think bitcoin price is going to rise this year because of all this economical drama?
I can't expect much for the price of bitcoin in 2022 because a lot of drama is not over yet.