The price of bitcoin surged by more than 30 per cent between 24 January and 8 February, 2022 (Getty Images/iStockphoto) Bitcoin has staged a remarkable recovery at the start of February, rising in price by nearly $10,000 since the beginning of the month.
The latest gains have taken the cryptocurrency back above $44,000 and appears to have reversed a trend that saw BTC drop from an all-time high of close to $69,000 in November, to a six-month low below $34,000 in late January.
The bounce back coincides with a new report from crypto market data firm FSInsight, which predicted bitcoin will reach $200,000 in the second half of 2022.
The same research note suggested Ethereum (ETH) could hit $12,000 this year – roughly quadruple its current price.
Those less bullish about bitcoin’s future trajectory include prominent stockbroker Peter Schiff, who suggested that the latest price rally “may well be another orchestrated pump-and-dump” to coincide with an advertising campaign during the Super Bowl on 13 February.
You can follow all the latest bitcoin news, analysis and expert crypto predictions right here.
Key points Bitcoin is ‘currently the 4th most oversold in its history’
El Salvador president predicts ‘gigantic price increase’
Bitcoin price ‘heading to $200k in 2022’ 11:16 , Anthony Cuthbertson
A new report from crypto market data firm FSInisight has included some of the most bullish price projections seen since the record-breaking market rally of 2021.
In a note titled ‘Digital Assets in a Post-Cycle World’, research analysts predicted that bitcoin could reach $200,000 in the second half of 2022, while Ethereum could be headed for $12,000.
The positive forecast is supported by “legacy market capital entering the fold”, according to the researchers, who say this has seen bitcoin become increasingly correlated with traditional technology stocks.
02:50 , Vishwam Sankaran
Bitcoin, ether prices continue to surge
Bitcoin has hit a four-week high, surging by about 4 per cent in the last day, and by about 14 per cent compared to its price last week.
The leading cryptocurrency is currently valued at over $44,000 – its highest since mid-January.
Story continues Ethereum has also grown by about 4 per cent in the last 24 hours, surging to a three-week high of $3,150.
Meanwhile, cardano has surged by over 6 per cent, solana by more than 2 per cent, and polkadot by nearly 4 per cent in the last 24 hours.
Memecoins dogecoin and shiba inu continue their price surge since last week.Dogecoin is up by about 3 per cent in the last day while its spinoff shiba inu continues to skyrocket, growing by over 10 per cent in the last 24 hours.
The chart is all green with continued signs of growth of the overall market, which is up by about 5 per cent in the last day, valued at about $2.02 trillion.
Monday 7 February 2022 15:02 , Vishwam Sankaran
Ted Cruz bought the bitcoin dip
US Senator Ted Cruz bought bitcoin worth between $15,001 and $50,000 on Jan 25, according to a Periodic Transaction Report filed on Friday
The cryptocurrency was valued close to about $37,000 at the time the purchase was made, and has since grown to over $42,000 – a growth of over 10 per cent in the period.
The Texas Senator has been a vocal proponent of bitcoin.
“I’m also particularly proud that my home state, Texas, is becoming an oasis for the blockchain community, for bitcoin miners, for innovators and entrepreneurs in the crypto world,” he had said in November last year.
Monday 7 February 2022 13:00 , Vishwam Sankaran
North Korea using crypto cyberattacks to fund nukes, missile programmes
A new UN expert panel report says North Korea is using cyberattacks on cryptocurrency assets as a key source of funding for its growing nuclear and ballistic missile programmes.
The report, submitted to the UN Security Council North Korea sanctions committee on Friday, says cyberattacks, “particularly on cryptocurrency assets”, played a major role in financing its missile programmes.
You can read the full story here .
North Korea funding nukes and missile programmes from crypto cyberattacks, UN says
Monday 7 February 2022 11:28 , Vishwam Sankaran
Russia plans to finalise crypto regulations within a week
Russia should be ready with new regulatory plans for the country’s crypto market within a week, according to a local news report.
There are currently two opposing views within the Russian government that may determine the fate of cryptocurrencies in the country.
Russia’s Central Bank proposes a blanket ban on crypto-related activities, including issuance, exchange, and mining, while the finance ministry pushes for legalization under strict rules, without recognizing bitcoin as a means of payment.
Russians control some 12% of all global crypto holdings, a new government estimate says https://t.co/lhM9wbblnN
— Bloomberg Crypto (@crypto) February 1, 2022
Officials estimate that own more than 16.5 trillion rubles ($214 billion) worth of cryptocurrencies – one reason the government may see more value in regulating the sector than imposing an outright ban.
Monday 7 February 2022 10:44 , Vishwam Sankaran
Memcoins see dramatic price rise
Dogecoin and shiba inu have skyrocketed over the weekend with the latter growing in value by over 30 per cent in the last week.
Shiba Inu’s shib tokens have grown from about $0.000021 on Sunday to $0.000028 – a surge of about 30 per cent, as doge jumped from $0.0147 to about $0.0157 during this period, growing by about 7 per cent.
The memecoins seem to be stabilising with a sell-off during the early hours on Monday, but continue be in the green on the charts.
SHIB X WELLY (.@wellyfriends )! Exceptional Shib Branded Fast Food available NOW, Shib Ecosystem integration, Global Store Expansion and our first bold step into “in-real-life” products all explained in this medium! Don’t eat like a clown, eat WELL.https://t.co/jgs4pWQNHw
— Shytoshi Kusama™ (@ShytoshiKusama) February 2, 2022
Shib’s surge has come days after developers announced a tie-up with Welly’s, a fast-food chain selling burgers and fries.
Developers said this partnership comes with a rebranding of Welly’s stores to include Shiba Inu-themed products as well as the issuance of NFTs for customers.
They said shib would also be a method of payment in the stores for members of the community.
Monday 7 February 2022 02:39 , Vishwam Sankaran
Bitcoin and dogecoin surge, while ether and solana slip
Bitcoin’s price has surged above $42,000, after trading close to the $40,000 mark during the weekend.
The leading cryptocurrency has grown by about 2 per cent in the last day and by over 14 per cent over the last 7 days.
Ethereum has slipped by about 1 per cent in the last two hours after reaching a value of about $3,050, and is showing sings of stabilising.
Other top cryptocurrencies, including solana and polkadot have slipped in value in the last few hours, but their prices remain nearly unchanged compared to their values a day earlier.
Meanwhile, memecoins dogecoin and its spinoff shiba inu have surged in the last 24 hours.Dogecoin is up by over 7 per cent in the last day while shiba inu has surged by over 25 per cent.
The overall crypto market has grown by over 1 per cent in the last day and is currently valued at $1.93 trillion.
Friday 4 February 2022 02:48 , Vishwam Sankaran
Bitcoin, ether prices stabilise
After dropping below the $38,000 mark on Thursday, Bitcoin has stabilised around $37,300 on Friday, rising in value by over a per cent in the last 24 hours.
Ethereum has remained nearly unchanged compared to its value a day earlier, and has grown by over 12 per cent in the last week.
Cardano and solana have surged by about 3 per cent in the last 24 hours, while meme coins doge coin and its spinoff shiba inu have nearly the same prices as they did a day earlier.
The overall crypto market has grown by over 1 per cent in the last 24 hours, and is currently valued at $1.72 trillion.
Facebook should focus on bitcoin, Twitter founder says Thursday 3 February 2022 11:09 , Anthony Cuthbertson
Twitter founder Jack Dorsey has said Facebook should have focussed on bitcoin rather than wasting time with its now defunct in-house cryptocurrency Diem.
“This whole thing with Libra and then Diem, I think there’s a ton of lessons there.Hopefully they learned a lot, but I think there was a lot of wasted effort and time,” he said at the Bitcoin for Corporations event this week.
“Those two or three years, or however long it’s been, could’ve been spent making bitcoin more accessible for more people around the world…We have this open network right now.And it’s usable.
It’s not accessible to everyone, but it’s usable.
“The easier we make it, the faster we make it, the more approachable we make it, it’s going to better everything, including everything Facebook intended to do with Diem.”
You can read the full story here .
Facebook should focus on bitcoin, says Twitter founder
Bitcoin is ‘currently the 4th most oversold in its history’ Thursday 3 February 2022 10:41 , Anthony Cuthbertson
Will Clemente, lead insights analyst at the mining firm Blockware Solutions, has noted that one metric suggests bitcoin is “currently the fourth most oversold in its history”, hinting at a strong buy signal for investors.
His analysis is based on dormancy flow, which refers to the average number of days each coin transacted remained dormant or unmoved – a gauge of spending patterns.
Commenting on the market trend, pseudonymous Dutch analyst PlanB described it as “exciting times ahead”.
Bitcoin is currently the 4th most oversold in its history according to dormancy flow.
Dollar-cost averaging more heavily into this area is probably the best approach for the long-term investor.pic.twitter.com/5c2irfOL5L
— Will Clemente (@WClementeIII) January 31, 2022
Thursday 3 February 2022 02:51 , Vishwam Sankaran
Bitcoin, ethereum, dogecoin prices drop
Bitcoin’s value which was over $38,500 early Wednesday has dropped below $37,000 and is down by more than 4 per cent in the last 24 hours.
Ether and dogecoin have also dropped in value by more than 3 per cent in the last 24 hours.
Cardano has slipped by over 6 per cent, while solana is down by more than 9 per cent in the last day.
The overall crypto market is down by over 4 per cent in the last 24 hours, and is currently valued at $1.70 trillion.
The chart looks mostly red with no signs of recovery yet.
Prices of cryptocurrencies over last day (Coin Market Cap) Wednesday 2 February 2022 02:54 , Vishwam Sankaran
Bitcoin, ethereum prices rise
The prices of leading cryptocurrencies including bitcoin, ethereum, cardano, and solana have surged in the last 24 hours with the overall crypto market growing by about 1.5 per cent in the last day.
Bitcoin is currently priced at over $38,600 and has grown by about a per cent in the last day.The leading cryptocurrency has surged by about 5 per cent compared to its value a week earlier.
Ethereum has grown by about 3 per cent in the last 24 hours and is up by over 13 per cent in the last week.
Cardano and solana have surged by over 5 per cent in the last day, with the latter growing by over 17 per cent in the last 7 days.
Meanwhile, meme coins dogecoin and its spinoff shiba inu have grown by about 1 per cent in the last 24 hours.
The chart looks mostly green with signs of recovery of the crypto market.
Prices of cryptocurrencies over last 24 hours (Coin Market Cap) Crypto market up $250bn as El Salvador dismisses IMF concerns Tuesday 1 February 2022 14:13 , Anthony Cuthbertson
The overall value of the crypto market has now risen by nearly a quarter of a trillion dollars since bottoming out towards the end of January.Bitcoin alone is up around 15 per cent, boosted in part by El Salvador’s staunch resilience to pressure from the IMF to ditch the cryptocurrency as a legal form of tender in the country.
You can read the full story here .
Bitcoin price surges as El Salvador rejects IMF call to ditch BTC as currency
Bitcoin price surges as India awaits crypto update Tuesday 1 February 2022 08:42 , Anthony Cuthbertson
The price of bitcoin is up nearly 4 per cent on Tuesday morning, climbing above $38,500 for the first time in more than a week.
The price jump has been matched by BNB and XRP, while Ethereum (ETH) and Solana (SOL) have both seen significant surges of 9 per cent and 18 per cent respectively over the last 24 hours.
The market rally comes as investors in India await clarity on the cryptocurrency bill, which Parliament has been reviewing during its winter session.A new poll from Deloitte and the Times of India found that regardless of whether regulation is introduced, more than half of respondents would still invest in crypto regardless.
We’ll be keeping a close watch on this story as it develops.
Tuesday 1 February 2022 02:44 , Vishwam Sankaran
Bitcoin, ethereum prices surge
The price of Bitcoin rose above $38,000 on Monday, increasing by 4 per cent in the last 24 hours while ethereum grew by over 7 per cent during the period.
Solana and polkadot surged by over 10 per cent in the last day, while cardano experienced a modest rise of about 2 per cent.
The overall crypto market has grown by over 4 per cent in the last 24 hours and is currently valued at $1.75 trillion.
Meme coin dogecoin has surged by about 4 per cent in the last day, while its spinoff shiba inu has grown by nearly 5 per cent.
The chart looks green with overall signs of recovery of the crypto market.
Bitcoin expert offers ‘bullish round up’ Monday 31 January 2022 20:32 , Anthony Cuthbertson
As a miserable month comes to an end for bitcoin, one industry insider has offered his thoughts on why it was actually a good month for the cryptocurrency despite the heavy losses.
In a Twitter thread titled ‘Jan 2022 Bullish Round Up’, CoinCorner CEO Danny Scott listed all the reasons why developments in the space could push the price higher over the long term.
The bitcoin exchange boss cited mining shifting towards renewable energy sources, professional athletes and politicians taking their paychecks in crypto, and the first ever bitcoin-backed mortgage becoming available.
#Bitcoin Jan 2022 Bullish Round Up
▪️ Goldman Sachs expects $100,000 price soon
▪️ Billionaire Bill Miller holds half is net worth in #Bitcoin
▪️ NBA’s Klay Thompson and Andre take part of salaries in #Bitcoin
▪️ #Bitcoin Core Dev legal defense fund setup – @jack
— Danny Scott ⚡ (@CoinCornerDanny) January 31, 2022
Bitcoin price ‘likely to retest $40,000′ Monday 31 January 2022 13:03 , Anthony Cuthbertson
As bitcoin continues to consolidate the modest price gains it’s made in recent days, we’ve heard from Alexander Mamasidikov, co-founder of mobile digital bank MinePlex, on what might come next for the cryptocurrency.
In retrospect, investors will want to cash out from every price growth, thus leading to a new correction.This erratic growth is perhaps what is engulfing the BTC and ETH, thereby making their prices generally unstable as they look to recover from last week’s massive slump.
While no new specific fundamentals backing the proposed price resurgence for both digital assets, the decision by the US Federal Open Market Committee (FOMC) to keep rates as it is is arguably a great boon for investors to keep investing in risky assets with the aim of carting a reasonable profit over time.With rates still kept at zero, Bitcoin and Ethereum remain a better asset than traditional investment assets.With this boost, intense accumulation is expected in the near future, with BTC and ETH prices likely to retest $40,000, and $2,800 respectively in the next few weeks
Alexander Mamasidikov, MinePlex
Belgian MP to receive salary in bitcoin Monday 31 January 2022 12:07 , Anthony Cuthbertson
Chrisophe De Beukelaer, a member of parliament for the Brussels-Capital Region, has become the latest politician to receive their salary in bitcoin.
De Beukelaer follows New York City mayor Eric Adams, who received his first paycheck in cryptocurrency earlier this month.
“Thanks to @NYCMayor for the inspiration,” he tweeted.
“Just as you do for New York in the US, I want Brussels to become the leading city in Europe for blockchain, crypto and Web 3.In 2022, I will be working on this.
Full tilt.”
Bitcoin price to see ‘gigantic’ increase, El Salvador president predicts Monday 31 January 2022 11:48 , Anthony Cuthbertson
Bitcoin’s plummeting price in January means El Salvador’s BTC reserves are now worth considerably less in US dollar terms than they were when they bought them.
Despite this, El Salvador President Nayib Bukele is confident that the latest mini price recovery is just the start of something significant for the cryptocurrency.
He cites the inbuilt scarcity of bitcoin, which means only 21 million BTC will ever exist.It means there is not enough bitcoin for even half the world’s millionaires to own a whole coin.
There are more than 50 million millionaires in the world.
Imagine when each one of them decides they should own at least ONE #Bitcoin
But there will ever be only 21 million #Bitcoin
No enough for even half of them.
A gigantic price increase is just a matter of time.
— Nayib Bukele 🇸🇻 (@nayibbukele) January 31, 2022
Hello and welcome…Monday 31 January 2022 11:31 , Anthony Cuthbertson
to The Independent’s live coverage of the crypto market.
It’s been a rough start to 2022 but the dreaded dip below $30,000 has so far failed to materialise.As the worst month since March 2020 comes to a close, we’ll be bringing you all the latest news, analysis and expert price predictions for bitcoin (BTC), Ethereum (ETH) and other leading cryptocurrencies.
Bitcoin suffered significant losses at the start of 2022 but its price has since shown signs of recovery (Getty Images).
