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 forged a pall over the market. As a substitute, crypto merchants aped into all kinds of bets on NFTs, video game-linked tokens like Axie Infinity’s AXS and up-and-coming blockchains like Solana and Terra. (Had been they fads or a technological revolution?) El Salvador adopted bitcoin as authorized tender, and the biggest cryptocurrency ultimately hit a brand new all-time excessive round $69,000. However by the tip of the yr it was clear bullish merchants wouldn’t understand the (broadly predicted) dream of a $100,000 print.