BITCOIN fell again Thursday morning at the start of trading, with internet searches for ATMs and crypto wallets increasing.
Amid fears of falling into the death cross indicator after a 37.28 percent drop, Bitcoin managed to rebound to $42,000, before hitting slightly higher levels.
Currently sitting at $42,739.40 per (BTC/USD), Bitcoin saw a sharp drop in value in 24 hours as it fell below $40,000 per (BTC/USD).
That is, Forbes contributor Philip Sandner predicts that Bitcoin will reach $100,000 in 2022, and the crypto-asset market will expand.
However, experts have taken into account the warnings about bitcoin’s volatility.
Commenting on this, Shivan Thanral, CEO of BuyUCoin stated: “Bitcoin needs to recover further as the RSI is still below 50, which indicates that it is in the oversold territory. If the bulls try to make an upward move, the price could go higher. to around $45,000, although if anything goes wrong, prices could drop to the $38,000-$36,000 region.”
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Microstrategy Spends $414 Million On Bitcoin
A business intelligence firm led by Michael Saylor revealed in a November 29 filing with the Securities and Exchange Commission that it purchased 7,002 bitcoins between October 1 and November 29.
MicroStrategy has reportedly spent $414 million on coins.
The company now has a reported stock of 121,044 bitcoins.
Crypto.com Coin Price Continued
For example, she secured several high-profile sponsorship deals in 2021 including UFC, Formula One Racing and Matt Damon Water.org.
Starting in December, the Staples Center – the home of the Lakers and Clippers – will also be called the Crypto.com Arena.
It remains to be seen if Crypto.Com continues to rise in value, but many crypto-lovers are still making predictions.
For example, Wallet Investor expects the token to reach $0.538 in one year and $0.8023 in five years.
Meanwhile, Digital Coin Price has set a forecast for 2021 at $0.7036, a 2023 value at $0.9636, and forecast a 2028 price at $2.09.
Crypto.com currency price prediction
Crypto.com Coin hit a record high on November 15, hitting $0.52 at its peak, according to CoinMarketCap.
By comparison, it was just $0.05966 on Jan 1 last year.
The value of the Crypto.com token has increased thanks to a number of factors.
Who founded crypto.com?
Chris Marslick has been the CEO of Crypto.com since June 2016 and is headquartered in Hong Kong.
Bobby Bao is the co-founder and general manager of Crypto.com, formerly known as Monaco.
Gary Orr is another co-founder and chief technology officer of Foris — a global financial app, according to topionetwork.com.
Another co-founder is Rafael Melo, who, according to Tobio Network, has 15 years of experience in finance.
Crypto.com currency, continue
Crypto.com itself is one of the fastest growing cryptocurrency companies in the world.
Keegan Francis, crypto editor and Finder expert, told The Sun that the coin has many uses, but the most notable one is that it can be used to share cryptocurrency on a mobile app in order to get a Crypto.com Visa debit card.
He added, “Having higher amounts of CRO across platforms rewards users with more features and rewards.
“Investors need to keep in mind that the token itself is directly linked to the success of the Crypto.com ecosystem.
However, Crypto.com has taken an initiative to decentralize CRO by building it into their own decentralized blockchain called Crypto.org.
“This is a good step for them to take in order to ensure that their distinguished work continues.
“It creates less dependence on the company itself, and it begins to build an independent community of developers and market participants.”
What is crypto.com currency?
Crypto.com coin is the original token of the Crypto.com and Crypto.Org ecosystems.
Also known as CRO, it was launched at the end of 2018.
The Crypto.com chain was set up to build a network of crypto projects and develop the ability of merchants to accept crypto as a payment method, according to its website.
Businesses can use Crypto.com payment and/or invoice to allow customers to pay for goods and services using crypto using the wallet app.
The companies then receive their payments in CRO, stablecoin or fiat currency, which are government-issued funds such as dollars or pounds.
Melania Trump launches NFT . platform
Former First Lady Melania Trump went into the NFT frenzy in December.
She launched a platform for fans to purchase NFTs, including a drawing of her eyes, with a portion of the proceeds said to go to children in nursery school.
Mrs. Trump plans to launch NFTs in time slots on her website titled “Melania’s Vision” with the project backed by free speech social network Parler.
audio stream encoder
Audious is a cryptocurrency-powered music streaming platform.
It is owned and controlled by the token holders – the tokens are called voice.
The audio has been listed on CoinMarketCap since October 2020, and its value skyrocketed after a deal with the Chinese social media giant TikTok.
What is a phantom?
Fantom is a blockchain platform founded by a South Korean computer scientist in 2018.
The platform contains software, called microcontracts, that allow the blockchain to perform more advanced transactions than simply sending cryptocurrency from one person to another.
Fantom is a competitor to Ethereum, which also offers mini contracts.
Are NFTs regulated?
Currently, there are no official regulations about NFTs.
Thus, it is up to the buyer to ensure that the NFT he is purchasing is a unique work and has not been copied from elsewhere.
The current lack of NFT regulations means that there may not be a specific entity to investigate a complaint when a sale goes wrong.
What is Blockchain?
Blockchain is a type of computer code used to record transactions.
It is the technology at the heart of cryptocurrencies such as Bitcoin and Ethereum.
The blockchain is constantly growing with new transactions being added to the end as additional “blocks” of data.
Could Bitcoin reach $70,000 by the end of 2022?
While Bitcoin came close to hitting $70,000 in November 2021, December of that year saw a steady decline in value.
However, Wallet Investor boldly predicts that Bitcoin will exceed $78,000 by 2023.
In five years, the price is expected to rise to $203,020.
A valuable piece of NFT art is being sold at the wrong price
The highly coveted Bored Monkey NFT (NFT) token was accidentally sold for a hundredth of the asking market price.
Bored Ape owner #3547 made a fatal typo when he listed the NFT for $3,000 instead of $300,000.
Cryptocurrency crime reached $14 billion in 2021
According to Chainanalysis, cryptocurrency crime in 2021 amounted to $14 billion.
Despite this staggering amount in illicit transactions, only 0.15 percent of transactions were affected in 2021 because the total amount in transactions that year was $15.8 trillion.
How to buy bitcoin
There are cryptocurrency exchanges like FTX or Coinbase where bitcoins can be bought and sold.
When setting up a Coinbase account for example, it can be linked to your bank account or Paypal account for you to make a deposit to a virtual wallet. After the virtual wallet is funded, the traditional currency can be exchanged for bitcoin.
The IRS on cryptocurrency in taxes for 2021
For 2022, the US Individual Income Tax Return Form 1040 contains a question about cryptocurrency which states: “At any time during 2021 did you receive, sell, exchange, or dispose of any financial interest in any virtual currency?”
In addition, the IRS addresses questions on its crypto FAQ page saying, “If your only transactions involving virtual currency during 2020 were purchases of virtual currency with real currency, you are not required to answer yes to the Form 1040 question.”
What is the difference between a redeemable and non-replaceable token?
According to The VERGE, the main difference between a redeemable and non-fungible token is that a redeemable token can be traded, while a non-fungible token cannot be traded.
Thus, bitcoin, which is a redeemable token, can be traded against another bitcoin. However, a unique trading card, which is a non-fungible token, cannot be traded, as it is a unique asset.
The Bank of England warns citizens of the risks of trading
The Bank of England has warned cryptocurrency traders about the risks of trading.
According to the BBC, 0.1% of households in the UK have wealth stored in cryptocurrency, with around two million people holding it.
As a result, Sir John Cunliffe, Deputy Governor of the Bank, warned that “their rate can vary greatly and can theoretically or practically fall to zero”.
What is NFT? continued
Celebrities, artists, and influencers have used NFTs to promote products in recent times.
As a result, NFT gives collectors the opportunity to own a one-of-a-kind piece of music or art.
What is NFT?
NFT, short for Non-fungible Token, is a certificate indicating ownership of a digital asset. Thus, original copies of memes or viral videos can be sold in the same way as a piece of art.
Since NFT digitizes a work piece stored on the blockchain, it cannot be duplicated, and is unique to whoever owns it.
NFT is Collins’ Dictionary of Word of the Year in 2021
The non-fungible symbol abbreviation, NFT, won the Collins Dictionary’s Word of the Year award in 2021.
Commenting on the matter, Alex Beecroft, a Collins Dictionary executive, stated, “It has not been determined whether NFT will have a lasting impact, but its surprising presence in conversations around the world makes it very clear our word for the year.”
What cryptocurrencies have increased in value?
As of January 12, 2022, the price of Bitcoin is up 1.45%, according to Coinmarketcap.
The value of Ethereum also rose by about 3.68%. Additionally, Dogecoin is up 4.95%. While Dogecoin’s competitor, Shiba Inu, is also up 12.84%.
What is a Shiba Inu? part two
At the time of writing, Shiba Inu’s share is up over 430% in the past month.
The gathering started billionaire Elon Musk, who has a Shibu Inu puppy, and posted a photo of him on Twitter.
What is a Shiba Inu? part One
Shiba Inu coins are cryptocurrency meme tokens that feature the same Shiba Inu dog as Dogecoin.
These meme tokens are listed on its own decentralized exchange platform, ShibaSwap.
Its website claims to have shut down 50% of its total supply to Uniswap, while the rest has been burned to Ethereum founder Vitalik Buterin.
Why is the value of cryptocurrencies unpredictable? continued
Experts have also warned cryptocurrency traders about the risks associated with trading.
In an interview with The Sun, Susanna Streeter, Senior Investment and Markets Analyst at Hargreaves Lansdown, stated: “A lot of cryptocurrencies and tokens are being advertised as part of the decentralized finance movement, which aims to disrupt existing payment systems.”
“In this mysterious world, where the use case for cryptocurrencies is far from proven, traders should only work with money they can afford to lose,” she added.