In mid-January, its $375.7bn market cap remains impressive – albeit, under half of BTC's $802bn at the time of writing.ĮTH, and by extension ERC-20 tokens, are shaping up to be the lifeblood of the decentralised finance space. The $3,157.73 on 3 January was still more than double where ETH began 2021. The token increased in value by more than 400%, compared with 70% for BTC, and hit a $4,811.70 all-time high on 8 November 2021. In fact, in one category, the blockchain’s currency, ether, had more going for it than BTC in 2021. Like Bitcoin, Ethereum has a lot going for it. We have institutions who shunned bitcoin in 2017, 2018, now openly coming out and building bitcoin products, building crypto investment products and integrating crypto markets”. “We started the year (2021) in under a trillion in market cap, ran up to 3.5 and now we’re at 2.5 trillion of total market cap, so that’s a pretty big sector for crypto currencies - it’s about a third the size of gold as a market," Demirors said. "The second trend we’ve seen is increased financialisation. In an appearance on CNBC, CoinShares chief strategy officer Meltem Demirors summed up where the sector went in the previous 12 months and how it is set for an intriguing future in the next dozen. An academic, Sussex University finance professor Carol Alexander, thinks 2022 is the year BTC prices will fall to $10,000. Zooming in to the here and now, the question is whether the news on the crypto market is going to remain bearish and for how long.īloomberg Intelligence analyst Mike McGlone still thinks BTC could hit $100,000 sooner or later. Some analysts have even predict that there could be shortages in the future, given how it only has a total supply of 21 million. In crypto market news, BTC has caused a flurry of excitement because of how ever-increasing numbers of institutional investors are snapping up this cryptocurrency. By the first week of 2022, it was trading under $42,000. It did not stay there too long, because it fell below $47,000 the week before Christmas. It staged an even more impressive autumn surge, peaking on 8 November at $67,582.80.
The world’s biggest cryptocurrency opened 2021 at $32,149.90, was riding high above $61,000 in April and, as Frank Sinatra sang, was shot down in May.īefore you can say “that’s life!”, BTC picked itself up and got back in the race.
Invariably, any article on cryptocurrency market news needs to start with bitcoin.
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