The price of bitcoin slipped below $46,000 on Monday morning, reaching close to its lowest point since late September.
The cryptocurrency has been trading within the $45,000-$50,000 price band since the start of December, after crashing from an all-time high of around $69,000 in November.
The overall crypto market has mirrored bitcoin’s recent demise, with several other leading cryptocurrencies all falling by between 3-7 per cent over the weekend, however Ripple (XRP) and Terra (LUNA) bucked the trend with gains of around 4 per cent.
Ethereum (ETH), Binance Coin (BNB), Solana (SOL) and Cardano (ADA) all lost ground, wiping around $80 billion from the global crypto market cap.
Despite the losses, some analysts remain convinced that BTC is still within a long-term bull cycle, which will see it more than double in price before the next major market correction.
You can follow all the latest cryptocurrency news, analysis and expert price predictions right here.
US city becomes first to add crypto as payroll option
A city in Tennessee is set to become the first in the Unite States to add cryptocurrency as a payroll option for employees.
Jackson City Mayor Scott Conger, who is a long-standing bitcoin advocate, said the move will “bring more opportunity” to the district and provide local government with different ways to finance things.
“It’s not something that’s going to be required,” he told the Jackson Sun. “It’s an alternative. Think of it like you’re investing in the stock market. What do you want to do? You’re want to diversify your investments. And this is just another way to diversify the portfolio of how we generate revenue – potentially throughout the city.”
(Wikimedia Commons)
Anthony Cuthbertson20 December 2021 15:17
Crypto for Christmas?
A new consumer survey in the UK has revealed that nearly three quarters (71 per cent) of 18-34-year olds would be happy to receive cryptocurrency as a last-minute Christmas gift.
The same survey, carried out by Scottish crypto startup Zumo, also found that only 16 per cent of Brits would actually know how to buy bitcoin or other cryptocurrencies.
Zumo CEO Nick Kones said: “It’s a great shame that most people don’t know the first thing about how to buy someone crypto as a Christmas gift. The good news is that it’s never been easier for people to buy, sell and spend crypto in the real world. Christmas is a great time for people who want to step into crypto but don’t know how.”
Anthony Cuthbertson20 December 2021 11:10
Bitcoin needs ‘small miracle’ for $100k Christmas
With bitcoin struggling to stay above $46,000 at the start of the week, popular analyst PlanB is sticking by his famed Stock-to-Flow (S2F) model that puts the cryptocurrency on track to hit six-figures in the coming months.
The pseudonymous analyst has gained more than 1 million Twitter followers this year, purely on the strength of his price predictions that proved astonishingly accurate – until about November.
The latest market downturn means his forecast of BTC reaching $135,000 in December looks more unlikely by the day, however PlanB claims that the current price of bitcoin remains within the lower bands of his S2F price model.
Anthony Cuthbertson20 December 2021 09:59
Bitcoin, Ethereum, and other crypto prices drop slightly
The prices of bitcoin, ethereum, and other top cryptocurrencies including cardano and solana have dropped slightly in the last 24 hours.
BTC is currently valued close to $47,000, compared to its Friday price close to about $48,000. The leading cryptocurrency has dropped in value by about 4 per cent in the last week and by nearly a per cent in the last day.
Ethereum and solana have dropped in value by about a per cent, while cardano and polkadot are down by 3 to 4 per cent in the last 24 hours.
The overall crypto market is down by about 0.5 per cent in the last 24 hours and is currently valued at $2.20 trillion.
Vishwam Sankaran20 December 2021 03:06
Bitcoin, Ethereum, and other crypto prices drop
After surging above $49,000 on Thursday, the price of bitcoin has dropped below the $48,000 mark, plunging by over 2.5 per cent in the last 24 hours.
Ethereum’s price has also dropped by over 1 per cent in the last 24 hours and the cryptocurrency is down by about 5 per cent compared to its value a week earlier.
Other top cryptocurrencies including cardano, polkadot as well as memecoins dogecoin and its spinoff shiba inu have also plunged by about 4 per cent in the last 24 hours.
The global crypto market is down by over 2 per cent in the last day and is currently valued at $2.21 trillion.
The chart looks red with no signs of recovery yet.
Prices of cryptocurrencies over last 24 hours
(Coin Market Cap)
Vishwam Sankaran17 December 2021 02:57
Crypto experts predict which altcoins to look out for in 2022
Last night, The Independent held a virtual event centred around cryptocurrency. Among the topics were forecasts for next year, including which altcoins could see massive growth, and where the price of bitcoin and other leading cryptocurrencies could be heading.
The distinguished panel included experts in everything from trading and investing, to fintech laws and regulations:
– Will Harborne, CEO of the decentralised cryptocurrency exchange DeversiFi
– Dr Iwa Salami, associate professor at the University of East London
– Fred Schebesta, founder of financial comparison platform Finder.
The hour-long session is available to watch for free online, right here.
Anthony Cuthbertson16 December 2021 18:24
Bitcoin sentiment moves away from ‘extreme fear’
A popular metric for measuring crypto market sentiment has retreated away from the “extreme fear” territory it was trending within earlier this week.
The recent market downturn saw a significant dip into the rare zone for the Bitcoin Fear and Greed Index, which analyses a variety of factors to estimate the general outlook and feelings of investors and traders.
“Extreme fear can be a sign that investors are too worried. That could be a buying opportunity,” the Index’s creators explain. “When Investors are getting too greedy, that means the market is due for a correction.”
Anthony Cuthbertson16 December 2021 14:58
Crypto boss says ‘dollar is going to zero’ against bitcoin
The CEO of a leading cryptocurrency exchange has offered his thoughts on the inflation levels currently occurring the US, saying that the US dollar is “going to zero” against bitcoin.
Kraken boss Jesse Powell told Bloomberg that
bitcoin’s anti-inflationary nature means he is bullish about its price against traditional fiat currency in the long term.
He said there was “no end in sight” to the “out of control” inflation levels, with statistics from the month of November showing a 6.8 per cent CPI increase year-on-year. This is the highest it’s been in nearly four decades.
( Getty Images)
Anthony Cuthbertson16 December 2021 11:36
Bitcoin and ethereum prices surge
The price of bitcoin has surged above $49,000 after it went below the $47,000 mark on Tuesday.
The world’s leading cryptocurrency has grown by over 2 per cent in the last 24 hours but is still down by about a per cent compared to its value a week earlier.
Ethereum has also surged by over 5 per cent in the last 24 hours and is currently valued at about $4,000.
Solana has grown by more than 10 per cent in the last day but is still down by about 7 per cent compared to its price a week earlier.
Meme coins dogecoin and shiba inu are also showing signs of recovery after their prices fell earlier this week.
The overall crypto market has grown by about 4 per cent in the last 24 hours and is valued at $2.26 trillion.
Vishwam Sankaran16 December 2021 03:07
‘World’s first bitcoin mortgage’
More positive news in the crypto space today, this time from credit and savings platform Ledn, whose newest product is a bitcoin-backed mortgage.
After raising $70 million in Series B funding, Ledn will soon allow clients to buy property and use an equal amount of bitcoin and property collateral as part of the mortgage loan.
The cryptocurrency lending platform said the “world’s first bitcoin mortgage” allows customers to “access liquidity without needing to sell your assets”, adding, “you no longer need to decide between holding your bitcoin or owning real estate.”
(Ledn)
Anthony Cuthbertson15 December 2021 15:05