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.
Bitcoin price ‘heading to $200k in 2022’
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.
Anthony Cuthbertson8 February 2022 11:16
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.
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.
Vishwam Sankaran8 February 2022 02:50
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.
Vishwam Sankaran7 February 2022 15:02
North Korea using crypto cyberattacks to fund nukes, missile programs
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.
Vishwam Sankaran7 February 2022 13:00
Russia plans to finalize 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.
Officials estimate that they 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.
Vishwam Sankaran7 February 2022 11:28
Coins 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 stabilizing with a sell-off during the early hours on Monday, but continue to be in the green on the charts.
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.
Vishwam Sankaran7 February 2022 10:44
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 signs of stabilizing.
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 emerged 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.
Vishwam Sankaran7 February 2022 02:39
Bitcoin, ether prices stabilize
After dropping below the $38,000 mark on Thursday, Bitcoin has stabilized 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.
Vishwam Sankaran4 February 2022 02:48
Facebook should focus on bitcoin, Twitter founder says
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.
Anthony Cuthbertson3 February 2022 11:09
Bitcoin is ‘currently the 4th most oversold in its history’
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”.
Anthony Cuthbertson3 February 2022 10:41
George Holan is chief editor at Plainsmen Post and has articles published in many notable publications in the last decade.