$64,080.59
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$3,475.30
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$74.47
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$23.72
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$162.84
-2.43%
$0.00
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$22.96
-1.88%
$0.12
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$19.75
-1.31%
$0.00
-2.74%

Crypto titan Bitcoin ‘could outpace stocks and hit $100,000 this year’


BITCOIN could outpace stocks and reach $100,000 this year despite a recent crash, according to one expert.

Bloomberg’s Mike McGlone predicts Bitcoin will dominate the crypto market in 2022, and Etherium will hit $5,000.

“Expectations for Federal Reserve rate hikes in 2022 may support a win-win scenario for Bitcoin vs. the stock market,” said McGlone.  

This analysis comes after several well-known cryptocurrencies nosedives this week.

Bitcoin was down almost 12 percent over the last seven days as of 9:30am Friday morning, according to .

At the same time, Shiba Inu was down almost 15 percent over seven days, and Ethereum was down about 14 percent, both according to .

It comes as one finance expert thinks Bitcoin’s worth could tank as low $10,000 (£7,400) per coin.

However, Goldman Sachs previously suggested that Bitcoin could reach a staggering value of $100,000 (£74,000) this year.

Read our cryptocurrency live blog for the latest news and updates…

  • What are meme coins?

    meme coin typically gains off a social media or an internet-based joke.

    It all started with GameStop and AMC earlier this year, when a Reddit mob trolled short-sellers by driving up the prices of those stocks.

    The memes then spread over to cryptocurrencies – and there are now a few major ones today.

  • More than 50 countries place bans

    51 countries have placed bans on cryptocurrencies, according to a report from the Global Legal Research Directorate of the Law Library of Congress.

    To date, nine countries have a total ban, and 42 have an implicit ban. The implicit ban forbids financial institutions from using crypto.

    The number of countries with bans has more than doubled since research first came out in 2018, according to Markets Insider.

  • What is fiat?

    If you’ve ever seen the word fiat used in the cryptocurrency world, know that it was not in relation to the car brand.

    Fiat is a term used to refer to government-issued currency.

    Cryptocurrency, or virtual money like Bitcoin, is not backed by governments or standards typically associated with fiat, which is why investors warn of crypto’s volatility.

  • How to check for blockchain scams

    Cryptocurrencies operate on blockchain networks.

    Scammers often claim their blockchain is “in development” or “about to be released,” but all legitimate cryptos will have an accompanying website to verify the currency.

    Users can type the name of the crypto into any search engine with the phrase “blockchain explorer” or “blockchain scan” to find the connected blockchain, if it even exists.

  • What is a blockchain?

    A blockchain is where encrypted data can be transferred securely, making it nearly impossible to duplicate or counterfeit.

    This ledger is the foundation of any cryptocurrency transaction.

    The cryptocurrency allows people to trade currency or assets digitally outside of any government or bank.

  • Risks of investing in cryptos, part four

    Another risk of investing are the charges and fees.

    Consumers should consider the impact of fees and charges on their investment which may be more than those for regulated investment products.

  • Risks of investing in cryptos, part three

    A third risk of investing in cryptocurrencies is product complexity.

    The complexity of some products and services relating to cryptoassets can make it hard for consumers to understand the risks.

    There is no guarantee that cryptoassets can be converted back into cash.

    Converting a cryptoasset back to cash depends on demand and supply existing in the market.

  • Risks of investing in cryptos, part two

    Another risk of investing is price volatility.

    Significant price volatility in cryptoassets, combined with the inherent difficulties of valuing cryptoassets reliably, places consumers at a high risk of losses.

  • Risks of investing in cryptocurrencies

    Investing in cryptocurrencies means taking on a number of different risks.

    The first is Consumer protection.

    Some investments advertising high returns based on cryptoassets may not be subject to regulation beyond anti-money laundering requirements.

  • Crypto volatility

    The crypto market has also been battered by India’s plans to ban all private cryptocurrencies – aside from a few exceptions – and launch a central bank-backed official digital currency.

    Cryptocurrencies are highly volatile, meaning their values often make large swings with no notice, as the latest plunge shows.

    Investing in cryptocurrency is a very risky business.

    You can be left with less money than you put in, and could even lose it all.

    You might not be able to access your investment if platforms go down and you could be left unable to convert crypto back into cash.

    There have also been warnings around scams related to cryptocurrencies, with people losing vast sums of money.

    You should never invest in something you don’t understand and you should never put in money that you can’t afford to lose entirely.

  • Why is the crypto market down?

    The latest plunge follows a crypto crash at the start of December shortly after Bitcoin hit a record high of $69,000.

    Of 100 cryptocurrencies listed on Coinmarketcap, the price of 97 fell.

    Crypto markets were wiped by $1.5trillion after the December 4 crash, but the market has since recovered some of those losses.

    One trader lost $5billion after the price of bitcoin plummeted, highlighting the risks of investing in crypto.

    It was revealed recently that 90% of all bitcoins have been mined.

    It comes as new research shows that 18.89million coins have been mined out of 21million, which is the maximum.

    And in another recent blow to the market came as one of the biggest crypto exchanges, Binance, said it will close its trading platform in Singapore after clashing with regulators.

  • Crypto-crimes hit a high in 2021

    According to a recent study, cryptocurrency-based crimes reached a record peak last year.

    Criminal transactions, on bitcoin and other cryptocurrency platforms, totalled $14billion, up 79 percent from 2020, according to data group Chainalysis.

    However, the group isn’t worried.

    “In fact, with the growth of legitimate cryptocurrency usage far outpacing the growth of criminal usage, illicit activity’s share of cryptocurrency transaction volume has never been lower,” Chainalysis said.

  • China’s statement on cryptocurrency, continued

    Bitcoin, the world’s largest digital currency, and other cryptos cannot be traced by a country’s central bank, making them difficult to regulate.

    The crypto crackdown opens the gates for China to introduce its own digital currency, which it is already working on and will allow the central government to monitor transactions.

  • China’s statement on cryptocurrency

    The PBOC said it will “resolutely clamp down on virtual currency speculation, and related financial activities and misbehaviour in order to safeguard people’s properties and maintain economic, financial and social order”.

    It said that trading of virtual currencies had become “widespread, disrupting economic and financial order, giving rise to money laundering, illegal fund-raising, fraud, pyramid schemes and other illegal and criminal activities.”

  • Sending cryptocurrency on WhatsApp

    WhatsApp, a popular messaging app, is testing a cryptocurrency payment feature for some users in the US.

    Meta, formerly known as Facebook, owns WhatsApp and is letting some users send and receive Pax Dollars.

    Pax currency is deemed a “stablecoin” because it’s connected to the US dollar.

    The feature is powered by Novi, Meta’s digital wallet.

    According to Novi, making payments will be easy, like sending other kinds of attachments in WhatsApp.

    There’s no word on when the cryptocurrency payment feature might roll out to more users and countries.

  • China stopped its crypto exchanges

    In 2017, China shut down its local cryptocurrency exchanges.

    Despite the war on crypto, Chinese mines power nearly 80 percent of the global trade in cryptocurrencies

  • Robinhood prepares to launch cryptocurrency…



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