Bitcoin:$46,637.52 | Dominance: 39.6% | Hashrate:178.574 EH/s
Yes, Bitcoin is growing up! Today it turns 13 years old, so it's officially a teenager and the next few years it may become very unruly; Pomp (Video) says Happy Birthday. Meanwhile, it's not looking great for Bitcoin on short timeframes, and Ethereum is becoming an increasingly popular bet instead; many still believe better days are ahead for Bitcoin. One of the reasons is that "price follows hash rate" as touted by Max Keiser over the years. In fact as you see, hash rate is near an all-time high and if you are listening to Max Keiser he believes $BTC will reach $220K this year. Here are 8 milestones Bitcoin reached from the past year.
Max is not alone, other Analysts predict a possible drop to $46,000 for BTC in the short-term before it resumes its uptrend which could see its price rise to $60,000 by the end of January. InvestAnswers also believes Bitcoin will hit $98K sometimes between March and June. Antoni Trenchev – Co-Founder of the cryptocurrency lending platform Nexo – predicted that bitcoin will hit a price of $100K by mid-2022. In his view, the leading digital asset is an inflation hedge equal to gold. Kevin Svenson believes there are a couple of catalyst to help make that happen: “Tax harvesting is finished. Forced exchange selling in China finished. Selling pressure is about to be reduced by 10 fold.
Bitcoin recovery is underway.” Ben Cowen believes that Bitcoin has hit a bottom. However, before surpassing the $51,000 mark, Michael van de Poppe mentioned that Bitcoin needs to beat the $48,000 and $49,000 resistance levels. Poppe termed the two trading points as a critical trigger for Bitcoin’s momentum while maintaining that emerging from the block is key to Bitcoin’s next bullish move.So as analyst keeps looking at the price action, you can rest assured no one really knows what will happen so take all of this with a grain of salt.
Beside the price, adoption continues as a new survey conducted by CNBC finds that most millennial millionaires have the bulk of their financial investments in crypto and they plan to keep buying like Michael Saylor. Banca Generali will reportedly enable its over 300,000 customers to buy and sell bitcoin early this year in a native integration with Conio. As the onramp continue to open up - eventually this will turn into bullish pressure and it looks like the Boston Fed is working on a CBDC. Will they try and fail then adopt $USDC as the Digital Dollar?
NonFungible tokens (NFT) and Play-to-Earn (P2E) gaming continues to monopolize the narrative. Wider adoption of NFTs and P2E games may be on the way, as one of the world’s largest gaming companies Square Enix sees them as the future of the industry. Yosuke Matsuda draws a line between old-school gaming, which he terms “play-for-fun,” and next-generation, blockchain-based, play-to-earn gaming. South Korean Democratic Party presidential candidate Lee Jae-myung prepares to use NFTs to raise funds for his campaign in a bid to appeal millennials.
Although, Non-fungible token (NFT) marketplace volumes had been steadily decreasing between August and November 2021. December broke that trend, according to The Block Research. The NFT market is booming in the early days of 2022, with OpenSea seeing its best day of Ethereum trading volume since August. The Bored Ape Yacht Club and Mutant Ape Yacht Club are leading the recent charts as a Mutant Ape Yacht Club serum sold for nearly $6MM. The Web3 Industry is going to explode in 2022 and it appears to be crucial for Avalanche Dapps.
Benjamin Guez from Ariane Capital Reports “Growing Demand” for Crypto. Crypto insights firm Santiment is revealing that in 2021, smart contract platform Cardano (ADA) is ahead of the curve in terms of development activity, surpassing its biggest competitor Ethereum (ETH). In addition, Cardano has some exciting developments planned for 2022 and developments include three hard forks and the development of an extensible UTXO smart contract infrastructure. Charles Hoskinson explained his plans by comparing smart contract systems used by bitcoin and Ethereum.
Max Yakubowski of Cointelegraph has a great 3 part series on What’s ahead for crypto and blockchain in 2022? Experts answer. Part 1, 2, and 3.
DOGGIE-COIN WATCH: Over 5.5 million SHIB tokens have been destroyed in the last 24 hours and Etherscan reports that 125 million SHIB tokens were burnt in the last five days. There are now over 410 trillion coins that have been burned, which constitute about 41% of the total supply of SHIB. 9 companies team up in SHIB burn pledge, Shiba Inu price prepares for 2022 move. This continued burning of SHIB will eventually make it deflationary but how long will it take with the trillions of SHIB in existence?
The Mozilla Foundation, a non-profit organization that oversees the Mozilla Corporation, which is behind a number of internet-related applications including the popular Firefox web browser, has announced it’s now accepting Dogecoin ($DOGE) donations along with other cryptocurrencies. Also, Samsung Electronics America announced Monday at the CES Tech Conference in Las Vegas its partnership with veritree, a blockchain-based climate solutions platform, to plant two million mangrove trees in Madagascar over the next three months. veritree uses blockchain technology to manage the reforestation process and verify each tree that is planted.
Other assets that you should keep your eyes one? In a new YouTube video, Arnold tells his 1.18 million subscribers that momentum built in 2021 will be key for these altcoins in 2022, starting with smart contract platform Solana (SOL) and adds $DOT $MATIC $LINK $AAVE. Nicholas Merten is also big on $AAVE and $UNI. $ATOM reaching ATHs (available on both Coinbase and Kraken) | $BabyDoge flipping ETH as the most traded? Craziness | VeChain is launching a Stablecoin. Besides AXS and XMR, the firm highlights decentralized application (DApp) platform Quantum (QTUM), Web3-focused Ankr, Solana-based liquidity provider Raydium (RAY), and XRP competitor DigiByte (DGB). FTM has broken out from a descending resistance line and there is resistance at $2.60. Technical indicators are bullish.
Voyager Digital is focused on continuing to build its brand in 2022 through more video-driven content that highlights consumer voices as well as partnerships that could move beyond the sports world.
With the good comes the bad. A Reddit user has announced that someone with over 640K followers on Instagram is impersonating Vitalik Buterin, scamming subscribers out of their crypto. Elon Musk impostors highjacked some major Indian Twitter accounts. If an influencer (fake) DM's you on any platform ignore it because these influencers do not have time to DM individuals asking for anything. If you fall for something like this - you must be be listening, reading, or watching what I am.
On the regulatory front, The CFTC has issued a fine of $1.4 million and a cease and desist order against popular crypto betting platform Polymarket. The startup allowed users to bet on anything from election results to celebrity engagements to earn cryptocurrencies. Also, Estonia is circulating a series of frequently asked questions (FAQs) to dispel fears that its newly approved crypto legislation equates to a ban.
As talked about above, Marathon mined 3,197 bitcoin in 2021, an 846% increase from the previous year. In December, the company produced 147% more bitcoin than in November and Marathon received over 10,000 new mining rigs from Bitmain during December.
I know this is a bit beefy but this is what's going on so far today :) Look for more blog post like this as a way to keep you in touch with what's happening across the Digital Asset world.
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