Bitcoin news – live: El Salvador president predicts ‘gigantic price increase’ for BTC

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Bitcoin fell to less than half its all-time price high in January 2022

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Bitcoin fell to less than half its all-time price high in January 2022

January 2022 has been the worst month for bitcoin since the pandemic-induced panic selling of March 2020, however the price is showing strong signs of recovery.

After falling from above $47,000 to below $34,000 in the first three weeks of the year, the price of BTC has since rebounded back above $37,000.

The broader crypto market has followed a similar price trajectory, with Ethereum (ETH), Binance Coin (BNB), Solana (SOL) and Dogecoin (DOGE) all experiencing heavy losses at the start of the month before bouncing back in recent days.

On-chain trends have offered some hope to investors that this market reversal may continue, with data from analytics firm Glassnode revealing that long-term holders are refusing to sell. Bitcoin exchange reserves are also falling, suggesting a potential supply squeeze that could force the price up in the short term.

You can follow all the latest cryptocurrency news, analysis and expert price predictions right here.


Bitcoin price surges as India awaits crypto update

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.

Anthony Cuthbertson1 February 2022 08:42

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.

Vishwam Sankaran1 February 2022 02:44

Bitcoin expert offers ‘bullish round up’

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.

Anthony Cuthbertson31 January 2022 20:32

Bitcoin price ‘likely to retest $40,000′

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
Anthony Cuthbertson31 January 2022 13:03

Belgian MP to receive salary in bitcoin

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.”

Anthony Cuthbertson31 January 2022 12:07

Bitcoin price to see ‘gigantic’ increase, El Salvador president predicts

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.

Anthony Cuthbertson31 January 2022 11:48

Hello and welcome…

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.

<img src="" srcset=",smart 640w" alt="

Bitcoin suffered significant losses at the start of 2022 but its price has since shown signs of recovery

” height=”726″ width=”982″ layout=”responsive” class=”i-amphtml-layout-responsive i-amphtml-layout-size-defined” i-amphtml-layout=”responsive”>

Bitcoin suffered significant losses at the start of 2022 but its price has since shown signs of recovery

Anthony Cuthbertson31 January 2022 11:31

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