Bitcoin (BTC) has dropped slightly in value, its price changing from about $48,000 on Friday to below $47,000 on Monday.
Other cryptocurrencies, including Ethereum (ETH), Solana (SOL) and Cardano (ada) have also dropped in value slightly during the period with the overall crypto market down by about 0.5 per cent in the last 24 hours.
Solana, Cardano and Polkadot are down by about 2 to 3 per cent in the last day.
Meanwhile dogecoin and its spinoff shiba inu have dropped in value by about 1 to 3 per cent after last week’s gains following Tesla’s announcement that it would begin accepting payments in the meme coin.
Analysts remain divided over whether the market will see a resurgence before the end of the year, with the most bullish continuing to predict a record-breaking end to 2021.
You can find all the latest news, analysis and expert price predictions right here.
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.
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.
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.
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.”
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.
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.
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.”
German savings banks could offer crypto to millions
A consortium of German savings banks are planning to offer access to bitcoin (BTC), Ethereum (ETH) and other leading cryptocurrencies to up to 50 million customers, according to local reports.
The pilot programme involves launching an in-house crypto wallet and exchange in 2022, the German Savings Banks Association (Sparkasse) told local business magazine Capital.
“More and more consumers are interested in crypto-assets,” a spokesperson confirmed to CoinTelegraph. “One in ten customers of the German Savings Banks states he/she owns or has owned crypto-assets. Considering their expectations, the Savings Banks Finance Group has to look into crypto-assets, too.”
Bitcoin price glitch sees crypto hit $870B on CoinMarketCap
The price of bitcoin spiked to $872 billion on CoinMarketCap after a mysterious glitch.
The fanciful price rise of 1,874,722,432 per cent was actually bettered by Ethereum (ETH), which hit a new all-time high above $81 billion after a 2,169,744,354 per cent surge in value took its fictional market cap above bitcoin’s.
The bizarre price gains were not reflected across crypto exchanges, meaning no one was actually able to cash out at such extreme levels.
CoinMarketCap apologised for the irregularities on Twitter, stating: “We will be rebooting our servers as a final step in accordance with our internal remediation plan.”
Bitcoin, ethereum, and other cryptocurrencies surge
The prices of bitcoin, ethereum and other cryptocurrencies including dogecoin have surged in the last 24 hours with the overall crypto market growing by over 2 per cent in the last day.
After slipping below the $47,000 mark on Tuesday, bitcoin has surged closer to the $48,000 mark, surging by over 2 per cent in the last 24 hours.
Ethereum has grown by about a per cent in the last day and is priced at about $3,820.
Solana and Cardano have also grown in value by 2 to 4 per cent over the last 24 hours.
Meanwhile, meme coin dogecoin has skyrocketed in value by over 14 per cent after Tesla chief Elon Musk says the company would start accepting the crytpocurrency as a mode of payment for some products.
The global crypto market is showing signs of recovery and is currently valued at $2.18 trillion.
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