Kategorie: Bitcoin News

Crypto offers a new class of investment assets that have seen explosive growth over the last few years. More and more money is flowing into crypto, and as such, if you are thinking of trying your hand, then this is the best time. Here are some highlights:

• The crypto market is filled with a lot of projects, each with its own merits. 

• As a beginner, it’s often hard to decide what to buy. 

• But the key is to focus on coins that are more established with some name recognition.

Here are 3 of the best cryptocurrencies for beginner investors:

Bitcoin (BTC)

Bitcoin (BTC) is the biggest crypto by market cap and is seen as the gold standard as far as the crypto market is concerned. It has name recognition and has been trading for years. 

Data source: Tradingview.com 

You don’t need to do a lot of background analysis to know what Bitcoin is about, and besides, all the info you need to trade Bitcoin as a beginner is readily available. And finally, you can buy Bitcoin (BTC) in literally all major exchanges out there.

Ethereum (ETH)

Just like Bitcoin (BTC), Ethereum (ETH) also has global name recognition since it is the second-largest coin by market cap. You will be able to buy and sell it in all major exchanges out there. 

Besides, these days you don’t even need to buy a full ETH coin or even BTC. This makes the two coins ideal for small investments. Ethereum is seen as the foundation of the blockchain industry and has a lot of future potentials.

Tether (USDT)

It is also important for beginners to have some investments in Stablecoins. This can help guard against volatility in the market. There are many Stablecoins of course. 

But Tether (USDT) is a great option. It is ranked among the top 5 cryptos by market cap and has the same name recognition as Ether and Bitcoin. You can also purchase it in major centralised exchanges.

The post 3 of the best cryptocurrencies for beginners in 2022 appeared first on Coin Journal.

The Bitcoin Foundation chairman suggests inflation and insatiable appetite by governments to print fiat money could help Bitcoin rally above the highly anticipated level of $100,000, gaining by 300% or more to breach the six-digit barrier in 2022.

Brock Pierce, billionaire entrepreneur and one of cryptocurrency’s pioneer adopters, is projecting a bullish outlook for Bitcoin next year.

The Block.One co-founder believes that despite Bitcoin’s current struggles, the next twelve months could be pivotal in seeing the benchmark cryptocurrency pack fresh upside momentum.

But he’s not just thinking of BTC hitting a new all-time high above $69,000. He thinks the market could witness a breakout beyond the $100k barrier, with mitigating external factors pushing the digital asset even higher along the six-digit rail.

The former US presidential candidate shared his prediction during an interview on Fox Business.

Inflation and financial uncertainty to add to volatility

Pierce believes that Bitcoin’s price could get some tailwinds from the never-ending urge to print more currencies. He looks at this factor as one of the primary drivers of Bitcoin price in the future, more than even growth within the broader crypto market.

The entrepreneur says Bitcoin’s volatility is another factor, noting that the cryptocurrency largely doesn’t act as a “hedge per se.” He notes that unlike gold or real estate, the digital asset is more risk-on, but does excite for the one reason that it does offer huge returns.

He explained that continued rising inflation and financial uncertainty could be just the driving factors that push Bitcoin prices higher.

“I would not be surprised if we saw a Bitcoin price next year over $100,000. It’s even conceivable that it can break $200,000 for a moment,” he noted.

In this regard, it’s probable Bitcoin could see a 300% or more rally before cooling off.

Pierce’s sentiment mirrors several others who see 2022 as a year in which cryptocurrencies could yet see more gains. His comments about the need for proper regulation in the crypto space is also a topic touched upon by various industry and market players, including FTX CEO Sam Bankman-Fried and Cardano founder Charles Hoskinson.

Bitcoin is trading just above $48,000 as of writing, up nearly 1.5% on the day but about 5% down over the past week. 

BTC/USD is also nearly 31% down from its peak of $69,044 reached in November. However, the digital asset has outperformed US equities with over 75% gains in 2021, compared to around 28% for the S&P 500 and 22% for Nasdaq.

The post Brock Pierce says Bitcoin price could rally to $200K next year appeared first on Coin Journal.

Pompliano told CNBC in an interview that Bitcoin’s energy usage continues to become more and more efficient as it scales and as miners tap into more renewable energy sources.

Pomp Investments founder and popular Bitcoin podcaster Anthony “Pomp” Pompliano says that the conversation around Bitcoin’s energy use and how efficient that is, largely suffers from “two key points” that people tend to miss.

He said this during an interview on CNBC’s “Squawk Box”, where he briefly highlighted the issues of Bitcoin’s volatility and energy use.

He told the shows’ host Joe Kernen that as people continue to debate Bitcoin’s energy consumption, they need to take note of the following:

Bitcoin becomes more energy efficient as it scales

According to him, the first one is the “linear relationship between energy consumption and the US dollar system.”  He goes on to explain why it is important for the conversation to take note of this point.

“In order to support more users and more transactions, we need to consume more energy. We need more data centers, more bank branches, more ATMs etc,” he added.

On the other hand, he explained, the Bitcoin blockchain doesn’t have the same kind of linear relationship seen between the fiat ecosystem and energy consumption. He noted that regardless of how many transactions get added to a block during transaction processing, the amount of energy consumed is the same.

“As it scales, Bitcoin becomes more and more efficient because you can pack more economic value into each of these blocks, whereas in a legacy system you need to consume more energy as you scale.”

“Important things in the world use energy”

Pomp also says that there’s nothing to apologise for when it comes to the issue of Bitcoin’s energy consumption. In his view, “important things in the world use energy”

He points to the growing use of renewable energy in Bitcoin mining, saying that the shift to all these newer greener sources of energy is driving research and development in the renewable energy industry.

Before delving into the energy usage question on the show, Pompliano had first talked about one important metric- Bitcoin’s volatility.

„The key piece is that the volatility is measured in dollars. If you think of the dollar itself, the dollar is hyper-volatile as well … 40% of all US dollars in circulation have been printed in the last 18-24 months.“ says @APompliano. „One #bitcoin still equals one bitcoin.“ pic.twitter.com/O5CwpEwGkB

— Squawk Box (@SquawkCNBC) December 27, 2021

He noted that BTC price had two 50%+ drawdowns in 2020 and has seen over six 20%+ corrections this year. There have also been notably huge price jumps, but he believes the best way to look at volatility is the value of the US dollar in which Bitcoin price movement is denominated.

If you think of it this way, he explains, you will find that indeed USD is also “hypervolatile.”

The post Pompliano highlights “key points” lost in Bitcoin’s energy use argument appeared first on Coin Journal.

Crypto saw astonishing institutional growth in 2021, but Genesis’ Noelle Acheson believes adoption is set to accelerate over the next year.

Noelle Acheson, the head of Market Insights at Genesis Global Trading, expects the next twelve months to see a continuation of institutional growth within the crypto space.

She said this while speaking to Joe Kernen during an interview on CNBC’s “Squawk Box.”

When asked to predict what she thinks will happen in the crypto space next year- whether it be SEC finally approving a spot Bitcoin ETF, major regulatory actions from across the globe, or institutional adoption- she noted that no one would for sure know (what will happen).

However, she says 2021 was very “interesting” and that the industry expects a continuation of institutional growth as seen over the past year.

“We are seeing strong signs of that accelerating over the next year,” she said, adding that these could be direct investments into crypto or through investments into companies building the crypto market’s infrastructure.

3 new unicorns every month!

Acheson says that the crypto space has 65 unicorns, which are startup companies whose market valuation is above $1 billion. She noted that 2021 alone saw 40 crypto-focused companies hit unicorn status, with an average of three new firms hitting the billion-dollar valuation every month.

According to her, such astonishing growth can only lead to more interest in crypto [and blockchain technology]. She says the growth is likely to accelerate interest even as more money flows into the industry.

On „risky but higher returns‘ tokens

Acheson also talked about institutional interest and its visibility in how investment managers are choosing to diversify into crypto.

The former managing director of research at Coindesk told CNBC that the past year saw more institutions add crypto to their portfolios, but more interesting was the move for many of them to go for digital assets outside of the top two in Bitcoin and Ethereum.

She notes that market maturity now offers investors room for choice, which has increasingly seen investors go for risky, but potentially higher returns altcoins. 

These are tokens that represent new technological advancements in the crypto space, which, though she did not mention, would include decentralised finance (DeFi) and non-fungible tokens (NFTs). The metaverse and Web 3.0 tokens are also gaining a lot of traction going into 2022.

The exodus of Bitcoin miners out of China

Acheson also talked about Bitcoin mining and China’s crackdown that saw an exodus of miners into other regions, many of them to the US. She says this was a big development, but adds that it might just have benefited Bitcoin miners in terms of access to financing.

„One of the big developments over the past 12 months was the migration of #bitcoin mining from China. A lot of that went to the United States,“ says @NoelleInMadrid. „Even more significantly for the bitcoin market directly is the access this gives bitcoin miners to financing.“ pic.twitter.com/DqvjoKrxf0

— Squawk Box (@SquawkCNBC) December 28, 2021

The post Institutional adoption of crypto to accelerate in 2022, says Genesis’ Noelle Acheson appeared first on Coin Journal.

• The massive BTC adoption helped it to correlate with the global financial market.

• BTC had a stable year with a 138% price change from yearly highest and lowest points.

• Several technical indicators project that this flagship coin’s price may exceed $100k soon.

Bitcoin (BTC/USD) is the king of cryptocurrencies that made a new all-time high at the $69,000.00 level on 10 November 2021. Later on, the price showed a corrective momentum where the current price stands at $50,775.26.

Bitcoin became a less volatile asset than before

Bitcoin passed a less volatile year where investors had a lot of opportunities to open or exit their positions throughout the year. In the last 52 weeks, the price rose more than 70% and had a stable position after breaching 2017’s all-time high of $20,000.

The reason behind the price stability in Bitcoin is El Salvators’ acceptance as a payment method besides Elon Musk’s positive sentiment. Moreover, the Bitcoin ETFs grabbed institutional investors’ attention, increasing the price volatility after a 25% loss after El Salvator’s acceptance.

Should you buy Bitcoin (BTC)?

Besides making multiple swing highs, Bitcoin bulls had a strong position above the $30,000 level. However, after reaching the all-time high level, the price crashed lower with a 37% loss and formed an exhaustion candle in the daily chart. Still, the year gain to date is above 80%, where the current price moved above the dynamic 20 EMA on the daily chart.

The post Is Bitcoin (BTC) a buy after its stable position in 2021? appeared first on Coin Journal.