April 13, 2024


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BTC and Ethereum surge amid massive Taproot upgrade

Bitcoin and Ethereum (ether) have experienced record-breaking price rallies in November 2021 (Getty Images)

Bitcoin and Ethereum (ether) have experienced record-breaking price rallies in November 2021 (Getty Images)

Bitcoin has shot up in price at the start of the week following a major upgrade to its network.

The cryptocurrency rose from below $63,000 to above $66,000 over the weekend to close in on the all-time high it experienced last week of close to $69,000.

Ethereum (ether) also surged on Monday morning, returning above $4,700 after a mini flash crash ended its record-breaking price rally last week.

Of the top 10 leading cryptocurrencies by market cap, only dogecoin suffered losses over the last 24 hours, but only dipped by less than 1 per cent.

Bitcoin’s price appears to have been boosted by the roll out of the long-awaited Taproot update, which improves both the privacy and security of BTC, while the rejection of a spot bitcoin ETF on Sunday by the SEC appears to have done little to damage bitcoin’s price prospects.

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

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Key points

Satoshi Nakamoto’s net worth among world’s wealthiest

18:20 , Anthony Cuthbertson

Bitcoin’s record-breaking price rally means Satoshi Nakamoto is now in the top 15 of the wealthiest people on the planet.

The mysterious bitcoin creator has anywhere between 750,000 and 1.1 million bitcoins in their various crypto wallets, which haven’t been touched since 2010. In that time, their value has risen by more than 10 million per cent, giving a US dollar value of up to $73 billion.

There is also a legal battle currently underway in Florida seeking to uncover the true identity of Nakamoto.

You can read the full story here.

PlanB says $135k price prediction ‘still in play’

14:59 , Anthony Cuthbertson

Pseudonymous Dutch analyst PlanB has said his “worst case scenario” price prediction model is still on track.

The forecast, which he made back in June when bitcoin was below $34,000, puts BTC on course to hit $98,000 before the end of November before going on to reach $135,000 next month.

This would require a 50 per cent price rise over the next two weeks, which seems inconceivable unless you look at previous record-breaking rallies. Bitcoin is already up more than 300 per cent since this time last year and has already seen monthly gains of more than 50 per cent during the 2021 bull run.

You can read the full story here:

Bitcoin price prediction model of $135k by next month ‘still in play’

Bitcoin receives biggest upgrade in four years

10:34 , Anthony Cuthbertson

Bitcoin has received a major upgrade to its network through the roll out of the long-awaited Taproot update.

It is the biggest improvement to bitcoin’s underlying network since 2017 and will serve to bolster the privacy and security of the cryptocurrency.

The upgrade will also unlock the possibility of smart contracts through bitcoin’s network, while also improving scalability – a crucial element for BTC to succeed as a mainstream form of currency, as it has become in El Salvador.

Here’s what Paolo Ardoino, CTO at the crypto exchange Bitfinex, told us about what the Taproot upgrade means for bitcoin:

Bitcoin’s Taproot upgrade comes timely as development on the bitcoin blockchain has been accelerating quickly this year. Taproot will deliver more scalability, privacy and smart contract functionality on the bitcoin blockchain and greatly expands upon what has been possible so far.

We can expect Taproot to unlock the power of Lightning Network to bring true scalability to the bitcoin blockchain, readying it for use in more complex operations.

Paolo Ardoino, Bitfinex

Friday 12 November 2021 03:08 , Vishwam Sankaran

The prices of several cryptocurrencies, including bitcoin, ethereum, and dogecoin have grown in the last 24 hours with the overall crypto market increasing in value by about 2.5 per cent in the period.

Bitcoin, whose price steeply declined early Thursday – dropping in value by nearly $3,000 – has since stabilised and is currently valued at about $65,000.

Ethereum, which also experienced a sharp price dip during this period after record highs on Wednesday, is inching back to the $4,800 mark.

Solana and cardano, whose values rose on Thursday, have since dropped to their respective prices 24 hours earlier.

Dogecoin has grown by about 2 per cent in the last day while shiba inu, which has surged by about 17 per cent in the last week, is up by about 8 per cent in the last 24 hours.

The global crypto market is priced at about $2.87 trillion, and the chart looks mostly green with signs of growth.

Prices of cryptocurrencies over last 24 hours (Coin Market Cap)

Prices of cryptocurrencies over last 24 hours (Coin Market Cap)

Southampton FC creates first ever ‘Crypto Fan Fund’ with bitcoin donation

Thursday 11 November 2021 19:01 , Anthony Cuthbertson

Premier League club Southampton FC has launched a first-of-its-kind ‘Crypto Fan Fund’.

Considering the size of the club, it is a relatively modest 2 BTC ($130,000), which comes courtesy of the football club’s shirt sponsor Sportsbet.io.

“The donation of cryptocurrency in this way is a major first within elite sports partnerships,” a press release stated. “Unlike traditional fiat donations, the value of the fund can shift and increase in line with the market, allowing for the potential of greater investments in future seasons.”

 (Getty Images)

(Getty Images)

Muslims told to stop using bitcoin in Indonesia

Thursday 11 November 2021 15:04 , Anthony Cuthbertson

Muslims in Indonesia have been told to stop using cryptocurrencies by the country’s authority on religious compliance.

It is not an official ban on bitcoin, and crypto trading is still officially legal, but religious leaders claim that cryptocurrencies contain elements of uncertainty, wagering and harm, and are therefore not halal.

Crypto trading is hugely popular in Indonesia, with data from regulators in the country revealing earlier this year that there are around 4.45 million cryptocurrency investors – more than double the number of stock investors.

You can read the full story here.

Muslims told to stop using bitcoin after crypto is declared non halal

Binance suspends Doge network withdrawals

Thursday 11 November 2021 12:53 , Anthony Cuthbertson

Leading crypto exchange Binance has just announced that it has been forced to temporarily suspend Doge network withdrawals from its platform.

“We discovered a minor issue with DOGE network withdrawals on Binance after carrying out a version update on 2021-11-10,” a note on the firm’s website states.

“As a result, we have temporarily suspended DOGE network withdrawals until this issue is resolved. Binance is actively working with the DOGE project team to resolve the issue.Please note that DOGE network withdrawals will remain closed until this is fixed. Users are still able to withdraw DOGE on other networks during this time.”

Twitter becomes latest firm to add ‘crypto division’

Thursday 11 November 2021 11:25 , Anthony Cuthbertson

Twitter has announced a new cryptocurrency division in order to “push the boundaries of what’s possible with identity, community, ownership and more”.

Twitter Crypto will be used to develop digital currencies, blockchain technology and “other decentralised technologies” for the social media firm, which recently added cryptocurrencies to its Tips feature.

CEO Jack Dorsey, who’s Twitter bio simply states “Bitcoin”, recently launched BTC startup called TBD to “help [Twitter] build an open platform to create a decentralised exchange for bitcoin”.

You can read the full story here:

Twitter announces new ‘Crypto’ division to ‘push the boundaries of what’s possible’

Mini price crash prompts calls to ‘buy the dip’

Thursday 11 November 2021 11:13 , Anthony Cuthbertson

As has now become common throughout this record-breaking market rally, the latest flash crash has led to semi-ironic celebrations across social media and bitcoin forums to “buy the dip”.

One popular post on r/Bitcoin stated: “Time to stock up while it’s on sale!”

Even famed whistleblower Edward Snowden, who last tweeted bout buying bitcoin in March 2020 when it briefly crashed below $5,000.

With a new record high yesterday, every single flash crash so far in 2021 has proved to be a “flash sale”, as every time it has recovered to another al-time high.

Eventually, however, market momentum may run out, and the crash could take years, rather than days or months, to fully recover.

Bitcoin and Ethereum flash crash in unison

Thursday 11 November 2021 10:47 , Anthony Cuthbertson

Bitcoin and Ethereum have mirrored each other’s price movements overnight, both suffering a flash crash before steadying.

Several other leading cryptocurrencies have copied this pattern, including Cardano (ada), Ripple (XRP), Solana (SOL) and Polkadot (DOT).

It’s pushed the overall crypto market back below $2.9 trillion, however by its own notoriously volatile standards it’s barely more than a blip. Whether it’s the start of something more serious will be determined within the next few hours, though BTC and ETH remain within 5 per cent of their all-time highs.



Bitcoin price of $69,420 next target

Wednesday 10 November 2021 16:40 , Anthony Cuthbertson

Bitcoin forums and social media platforms are filling with calls to pump the price to $69,420 in order to achieve the cryptocurrency’s “prophecy”.

The target represents the two favourite numbers of online meme boys and edgelords: one being a sex position and the other being weed slang. Bitcoin advocate Elon Musk has previously used the number as the price for one of his Tesla vehicles.

One user on the popular sub-Reddit called on fellow investors to “Hodl Hodl” until the price is reached, with the post receiving hundreds of upvotes.

BREAKING: Bitcoin price breaks new record

Wednesday 10 November 2021 14:27 , Anthony Cuthbertson

Another day, another all-time high. Bitcoin is on a roll this week, reaching above $68,500 on CoinMarketCap’s price index just now to break another record.

Ethereum has also followed suit, hitting its own record high just a few minutes later, while Binance Coin has surged more than 20 per cent over the last 24 hours to close in on its own record.

The overall crypto market is now tantalisingly close to $3 trillion, clocking in at $2.96 trillion.

You can read the full story here:

Bitcoin price hits record all-time high amid crypto market frenzy

Early bitcoin followers lament losses and missed opportunities

Wednesday 10 November 2021 13:57 , Anthony Cuthbertson

With bitcoin hitting a new all-time high this week, a few tweets from the early days of bitcoin have been doing the rounds on social media.

From not buying, to selling way too soon, people have either missed out on fortunes or lost them completely.

After bitcoin shot up from $0.30 to $8 in 2011, Greg Schoen posted his regret at selling his stash of 1,700 BTC for $500 instead of $13,600. Today that stash would be worth more than $100m.

In October 2011, when 1 BTC was worth less than $3, gamer Nick Allen wrote that he was “so glad” he didn’t buy in on “that mess”. He followed that tweet up earlier this year with: “I’m such an idiot.”

If he’d just bought $40 worth of bitcoin back then, he’d have $1m today.

When a Twitter user asked if he was still alive, he replied: “Alive but dead inside.”

Shiba Inu millionaire retires from warehouse

Wednesday 10 November 2021 12:00 , Anthony Cuthbertson

Speaking of meme coins, dogecoin rival Shiba Inu has also failed to capitalise on the recent market momentum and is down significantly from the all-time high it saw at the end of October.

Despite this, it remains orders of magnitude more valuable than it was at the start of the year, with a new report revealing that one supermarket warehouse worker in the north of England made enough money to retire at the age of 35 from just a £6,000 investment.

You can read the full story here.

Warehouse worker retires after Shiba Inu bet makes him a millionaire

Dogecoin price set for 10,000 per cent gains?

Wednesday 10 November 2021 09:47 , Anthony Cuthbertson

Amid the record-breaking crypto market rally, one cryptocurrency has remained unusually quiet, with dogecoin continuing to trade within the $0.20-$0.30 price range and shifting in value by less than 1.5 per cent over the last seven days.

A new study suggests this stability may not last long, as the original meme coin apparently holds the highest growth potential of all the leading cryptocurrencies.

A 10,000 per cent price rise would push dogecoin above $25 by 2030, according to estimations from investment management group Cipher Technologies.



Bitcoin price consolidation or correction?

Wednesday 10 November 2021 09:33 , Anthony Cuthbertson

Bitcoin’s slight dip in price this morning is no surprise, given it tends to fall slightly following an all-time high as investors take the opportunity to skim off profits and buyers wait for an opportunity to buy in at a slightly lower level.

This then transitions into a period of consolidation, where BTC remains relatively steady, or a major price correction that sees its value tumble.

Experts we’ve heard from this morning appear to be subscribing to the former theory, with the UK head of one crypto exchange telling us it seems the outlook for the crypto market is broadly positive – but could hinge on some key news coming up.

“It’s been a good start to the week for the crypto markets,” says Sam Kopelman, UK manager of Luno. “The growing optimism in Bitcoin could be down to the upcoming deadline for the SEC response to VanEck’s spot based bitcoin ETF on 14 November, with traders trying to front run any good news.”

Galina Likhitskaya from the smart contract audit company HashEx adds: “There is a positive sentiment that often engulfs the crypto markets toward year-end. This sentiment is billed to favour both Bitcoin and Ethereum which the former may hit a high of $80,000 and the latter, a top of $5,500 by the end of 2021.”

Wednesday 10 November 2021 03:21 , Vishwam Sankaran

The prices of several cryptocurrencies including bitcoin, ethereum, and solana have dropped by about 2 to 3 per centage in the last 24 hours.

The overall crypto market is down by about a per cent in the last day and is currently valued at about $2.90 trillion.

Bitcoin, after climbing past an all-time high of over $68,000 on Tuesday, has dropped to about $66,500 and appears to be sliding down further.

Ethereum, which also climbed to a record value of over $4,800 twice on Tuesday, is down to about $4,700 and seems to be stabilising around the mark.

Other cryptocurrencies, including solana and polkadot have also dropped in value over the last 24 hours by about 3 to 5 per cent.

Prices of cryptocurrencies over last 24 hours (Coin Market Cap)

Prices of cryptocurrencies over last 24 hours (Coin Market Cap)

Tuesday 9 November 2021 12:20 , Vishwam Sankaran

New York Mayor-elect promotes city-themed cryptocurrency

Following his announcement last week that he would take his first three paychecks in Bitcoin, New York Mayor-elect Eric Adams promoted the launch of the city-themed NYCcoin cryptocurrency scheduled for Wednesday.

Last Thursday, Mr Adams said he wanted to turn New York into the “center of the cryptocurrency industry,” and explore city’s own coin similar to Miami’s, adding that crypto and blockchain should also be taught in schools.

Mr Adams stayed on message on Monday, promoting NYCcoin to be debuted on Wednesday.

Tuesday 9 November 2021 11:53 , Vishwam Sankaran

Bitcoin reaches all-time high

After surging past an all-time high price of over $68,500 on Tuesday, bitcoin has slipped in the last hour and is currently stabilising around the $67,500 mark.

The cryptocurrency has surged by nearly 7 per cent in the last week with some analysts predicting it would grow in value further in the coming weeks.

The current surge has beaten the cryptocurrency’s previous high of about $67,700 in October.

Ethereum also surged to a record high of over $4,800 but has since slipped to around $4,750. More on the recent surge here.

Tuesday 9 November 2021 03:06 , Vishwam Sankaran

The prices of several cryptocurrencies including bitcoin, ethereum, and cardano have surged in the last 24 hours with the overall crypto market growing by about 3 per cent in the last day.

Bitcoin has surged by about 4 per cent in the last day, and is priced at about $67,500 while ethereum has risen by about 2 per cent, currently inching closer to the $4,800 mark.

Meme coins dogecoin and shiba inu have also surged in the last 24 hours, rising in value by 4 to 6 per cent.The global crypto market is valued at about $2.92 trillion, and the chart looks green with signs of growth among several cryptocurrencies.

Price of cryptocurrencies over last 24 hours (Coin Market Cap)

Price of cryptocurrencies over last 24 hours (Coin Market Cap)

Friday 5 November 2021 07:16 , Vishwam Sankaran

New York Mayor-elect wants to be paid in Bitcoin

In response to tweet by Miami’s Mayor Francis Saurez that he would take his next pay in bitcoin, New York’s Mayor-elect Eric Adams has said he will take his first three paychecks in the cryptocurrency.

Mr Adams, a Democrat set to become the city’s second black mayor, said his intention is to make New York the “centre of the cryptocurrency industry and other fast-growing, innovative industries.”

Friday 5 November 2021 03:09 , Vishwam Sankaran

The prices of several cryptocurrencies, including bitcoin, ethereum and cardano have dropped over the last 24 hours as the global crypto market slips by over a per cent in the last day.

Bitcoin and ethereum have dropped in value by over a per cent in the last day.

Polkadot, which has grown by more than 20 per cent over the previous week, has also dropped by about a per cent in the last 24 hours.

Shiba inu has plunged the most, dropping in value by over 20 per cent during this period.

After a surge that helped it overtake cardano on Thursday, the price of solana has stabilised around $240.

The chart looks mostly red with marginal signs of recovery.

Prices of cryptocurrencies over last 24 hours (Coin Market Cap)

Prices of cryptocurrencies over last 24 hours (Coin Market Cap)

Coinbase testing subscription service

Thursday 4 November 2021 18:00 , Anthony Cuthbertson

Coinbase is reportedly working on a new subscription service that would allow customers to avoid paying crypto trading fees in return for a monthly fee.

The largest cryptocurrency exchange in the US will offer the subscription to a small number of users to start, according to a report today in The Block, which will also offer added insurance protection if an account is compromised.

“We’re always looking to learn more about how we can best serve our customers in different ways,” a spokesperson told the publication. “Right now, we are still in early stages, so everything about the future product experience will be shaped by the feedback we receive from our users.”

 (AFP via Getty Images)

(AFP via Getty Images)

Crypto price gains in 2021 calculated

Thursday 4 November 2021 11:00 , Anthony Cuthbertson

If you’re wondering how much you could have made if you’d invested in Solana at the beginning of the year, someone has already done the maths for you.

Solana’s 16,000 per cent price gains since the start of 2021 mean that $1,000 invested on 1 January would have turned into $162,000 today. This is more than double what you would have from the same investment in dogecoin, and more than 80-times greater than bitcoin’s returns.

Of the top 10 cryptocurrencies, however, there is one that has performed even better than Solana. A $1,000 investment 10 months ago would have almost turned you into a billionaire by now.

Solana price record follows remarkable year

Thursday 4 November 2021 10:04 , Anthony Cuthbertson

Solana’s latest price surge has seen it reach above $2.40 for the first time in its history. The all-time high for Solana follows an astonishing year for the altcoin, which started the year trading below $2.

Its creators claim its fortunes are directly related to the potential of Solana’s underlying technology, which they say includes “the fastest blockchain in the world”.

“Literally the goal of Solana is to carry transactions as fast as news travels around the world – so speed of light through fibre,” CEO Anatoly Yakovenko said during a developer conference in September. “Who we’re competing with is Nasdaq and the New York Stock Exchange.”

You can read more about Solana and its remarkable rise right here.

What is Solana? The crypto that is rising 200-times faster than bitcoin in 2021

Bitcoin price dips slightly as Solana overtakes Cardano

Thursday 4 November 2021 09:49 , Anthony Cuthbertson

Bitcoin has slipped in price slightly on Thursday morning, dropping 2.5 per cent to below $62,000.

The dip has been mirrored by several other leading cryptocurrencies, including Ethereum (ether), Cardano (ada) and dogecoin.

Bucking the trend is Solana, which rose by 2.5 per cent overnight to push its market cap above $70 billion. This means it now ranks above Cardano and the stablecoin Tether on CoinMarketCap’s price index.



Crypto market now worth more than world’s largest banks combined

Wednesday 3 November 2021 18:39 , Anthony Cuthbertson

The latest crypto market rally has pushed the overall value of all cryptocurrencies combined above the top dozen largest banks in the world.

Ethereum (ether) alone is worth more than JPMorgan Chase – the world’s most valuable bank by market cap – after its all-time high today, while bitcoin is worth more than double that.

As cryptocurrencies overtake the giants of traditional finance, some banks are taking steps to let their guard down a bit. Just today, Australia’s Commonwealth Bank announced that it would allow retail customers to buy, sell and store crypto through their mobile banking app.

You can see more charts and read the full story here.

Crypto market now worth more than top dozen largest banks combined

Ethereum and Solana surge, pushing crypto market to all-time high

Wednesday 3 November 2021 09:38 , Anthony Cuthbertson

The cryptocurrency market has hit a new record high this morning.

With a combined market cap above $2.75 trillion, it is now worth more than the top 10 largest banks combined.

Ethereum (ether) and Solana (SOL) hit individual all-time highs, after a price increase of 5 per cent and 12 per cent respectively over the last 24 hours. Bitcoin is still a few thousand dollars away from its personal best but is up more than 2 per cent since this time yesterday.

Here’s the full story:

Crypto market hits record high

Wednesday 3 November 2021 02:53 , Vishwam Sankaran

Bitcoin, ethereum and solana surge

Several cryptocurrencies including bitcoin and ethereum have grown over 3 per cent in the last 24 hours, taking the global crypto market to a value of about $2.73 trillion.

Bitcoin has risen in value by about 3.5 per cent in the last 24 hours.

Meanwhile ethereum hit an all time high value of over $4,600, and continues to be priced around the mark.

Solana has grown by over 10 per cent in the last 24 hours and Polkadot has surged by about 4 per cent during this period.

Meme coins dogecoin and shiba inu however have slipped in value in the last day with the latter dropping by over 4 per cent.

The global crypto market has grown in value by about 4 per cent in the last 24 hours.

El Salvador to build 20 schools with bitcoin profits

Tuesday 2 November 2021 17:54 , Anthony Cuthbertson

El Salvador President Nayib Bukele has announced that 40 new schools will be built in the country using the profits from its bitcoin investment.

“God willing, more works will come from the profits of a trust that was created and a Law that was created because we ignored the opposition,” President Bukele said.

The country has also started building the first public veterinary hospital, also funded by crypto profits. El Salvador currently holds more than 1,000 bitcoins – worth more than $60,000,000 at today’s prices.

You can read the full story here.

Bitcoin price rise allows El Salvador to build 20 schools with profits

November historically best month for bitcoin price gains

Tuesday 2 November 2021 14:53 , Anthony Cuthbertson

After a solid October, which saw bitcoin rise in price by 43 per cent, many investors are hoping for an even better November.

Historically, November has been the strongest month for bitcoin, with an average price gain of 53 per cent over the 30 days. If BTC rose by this amount over the next 28 days, it would be north of $90,000 by December.

Ethereum’s record price explained

Tuesday 2 November 2021 14:28 , Anthony Cuthbertson

We’ve heard from some crypto industry figures to hear their thoughts on Ethereum’s latest price record.

The general consensus is that ether’s price rally is being driven by a surge in decentralised app, NFT and gaming token usage, which was boosted by news last week that Facebook – now Meta – is pivoting its focus to the creation and development of a metaverse.

One expert predicts Ethereum could hit $10,000 in 2021 – more than double its current price.

You can read the full story here.

Ethereum price smashes record high amid metaverse buzz

Ethereum price hits new all-time high

Tuesday 2 November 2021 14:27 , Anthony Cuthbertson

Ethereum (ether) has just hit a new all-time high, reaching tantalising close to $4,500.

The latest record was accompanied by another all-time high from Polkadot (DOT), which has shot up nearly 20 per cent over the last 24 hours to break $50 for the first time in its history.

The price surges have pushed the overall crypto market above $2.7 trillion, which is also a record high – making it more valuable than Amazon and Meta (Facebook) combined. Ethereum alone is now worth more than Visa and Mastercard.



Bitcoin price in ‘calm before the bullish storm’

Tuesday 2 November 2021 14:25 , Anthony Cuthbertson

With the price of bitcoin holding steady at around $61,500, one industry figure has described it as “the calm before the bullish storm”.

Dan Held, director of growth marketing at the crypto exchange Kraken, told his Twitter followers: “Strap on your moon boots.”

It follows the same narrative pushed by several leading analysts, who are predicting a record-breaking end to 2021, with November typically being a strong month for bitcoin. If patterns from previous bull runs are followed, the BTC price could go parabolic before the end of the year, however any so-called black swan event could scupper investors’ hopes of fresh all-time highs.

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