This article addresses how to calculate the conversion of BTC into GBP. Before we start, it's important to understand what bitcoin really is.

[Bitcoin](/coins/btc) is a decentralised online cryptocurrency that can be sent from user to user on a peer-to-peer network without intermediaries.

The cryptocurrency is also called "digital gold" due to its high value, which no government or bank can manipulate. It is increasing in popularity as a payment method because it offers a more efficient and cheaper way to do business.

After hitting an extortionate value, Bitcoin is losing some of its value today. As the value changes, many people are concerned about the loss. To understand how much you can potentially lose or gain, you need to determine the fluctuation for each day. Let's look at how to calculate BTC to GBP daily.

## BTC to GBP: Calculate the Value Daily

The [value of Bitcoin changes every day,](https://coinmarketcap.com/) so there's no straightforward formula to work out the price of 1 BTC in GBP. So, let's keep the following as a rough guide for better understanding.

First, you need to find the number of Bitcoins currently in circulation. You can visit any reputable cryptocurrency app or website that tracks data on it.

Next, find the exchange rate for today. You can use a converter, easily found online, to find a reasonable estimate for the current exchange rate. But remember, the price of 1 BTC depends on its value relative to other cryptocurrencies.

For a rough idea of what one bitcoin worth is in pounds sterling today, consider doing the following formula:

1 BTC = (Current value of 1 BTC in GBP / The exchange rate from that day’s date) 0.000033 * 30,362.43 = 1.00196019 GBP
This method can give you a rough estimation of what one BTC is worth in GBP in today’s money terms. But since the price changes every day, the value of 1 BTC to GBP will also change.

The best thing about cryptocurrency is that it's backed by mathematical proof instead of any authority. The digital currency is immune to political influence as it's not subject to government control or inflation.

## How to Calculate the BTC to GBP Exchange Rate?

The BTC to GBP exchange rate is the rate at which Bitcoin will be exchanged for the British pound on a specific date or time. As no central banks control the cryptocurrency market, calculating an exchange rate for this system can be challenging. Use the formula mentioned above to calculate the current price of one BTC to GBP.

1 BTC = 1.00196019 GBP

## Conclusion

As cryptocurrency is becoming more and more relevant in today's technological revolution, it has become most important to understand the conversion of Bitcoin into GBP. The value of Bitcoin fluctuates each day, so you need to check the value daily to determine how much Bitcoin is worth in GBP today.
 
 
 
 



BTC to GBP: 1 Bitcoin to British Pound Sterling

Smart contracts are a fascinating aspect of blockchain technology. They are self-executing contracts that use code to enforce the terms of an agreement automatically.

This makes them incredibly useful for various applications, and they are starting to gain traction in several industries.

This blog post will explore what smart contracts are and how they work in the blockchain!

## Defining Smart Contracts

A blockchain is a decentralised, spread database used to store data across a peer-to-peer network. The data is stored in blocks, and each block contains a cryptographic hash of the previous block, a timestamp, and transaction data.

[Bitcoin](/coins/btc), the first and most well-known blockchain application, uses blockchain technology to create a global payment system that is secure and transparent.

They are perhaps most easily explained as self-executing contracts written in code and stored on the blockchain. A smart contract contains all of the terms and conditions of an agreement, and once the conditions of the contract are met, the contract automatically executes the agreed-upon actions.

Smart contracts are used for many purposes, including financial transactions, voting, and asset management. Being on the blockchain means they are secure and transparent. Smart contracts could revolutionise the way we interact with each other and do business.

## How Do Smart Contracts Work in the Blockchain Ecosystem?

A blockchain is a decentralised, distributed ledger that records transactions in a public or private network. Smart contracts are digital agreements stored on the blockchain and are automatically. Being stored on the blockchain makes smart contracts tamper-proof and transparent.

The contract terms are written in code, and the contract is executed automatically when the conditions of the contract are met.

Smart contracts can also be used to create tokenized assets, such as loyalty points or digital certificates. Smart contracts are often used in conjunction with blockchain-based applications, such as [Decentralised Autonomous Organisations (DAOs)](https://www.investopedia.com/tech/what-dao/).

DAOs are organisations that are run by code, and they use smart contracts to automate decision-making and governance. By using smart contracts, DAOs can operate without a central authority or control.

## Use Cases for Smart Contracts

The defining feature of a smart contract, a computer protocol that enables blockchain-based transactions, is that it can automatically execute the terms of an agreement between two or more parties.

This makes them well-suited for use cases where there is a need for trustless, tamper-proof transactions, such as exchanging money, property, or other assets.

In addition, smart contracts can be used to create decentralized applications (dApps). dApps are programs that run on a blockchain and are not controlled by any single entity. They are often open-source and allow anyone to participate in their development and use.

There are numerous use cases for smart contracts and dApps, ranging from financial services to supply chain management. As the technology evolves, even more innovative use cases will likely emerge.

## The Future of Smart Contracts

Elimination of paper documents and the automation of repetitive tasks means that smart contracts can help to streamline operations and reduce costs.
At the same time, blockchain technology can provide a level of security and transparency that is not possible with traditional contracts.

As a result, smart contracts are likely to play a major role in the future of business. While there are challenges to overcome, such as scalability and regulatory compliance, it is clear that they could shift the way we do business for the better.


Smart Contracts and the Financial Market Revolution

Can an Elon Musk tweet really impact the value of cryptocurrency? Short answer, yes.

In financial markets, valuations are usually primarily driven by fundamentals such as company-specific DCF, FCF, and multiples analyses. That said, in the short term, markets are often irrational, deviating from fundamentals, and can stay that way for longer than investors can remain solvent, yet they always correct themselves. In contrast, what moves prices in the crypto market? Is it the greater fool's theory or the information content effect of news?

It is a decentralised industry fuelled by a desire to remove the middleman. To democratise payments and credit while removing the ability of one party to influence the market. However, it seems like sway is still driving valuations.

It is well documented that social media and celebrity endorsements have been potent tools to move crypto prices. Of these, there is one with a particularly strong grip over the market, Elon Musk.

## The Elon Effect

To put Elon’s influence on the crypto market into perspective, when he expressed his interest in Dogecoin in February last year, he single-handedly pushed up market prices by approximately 50%. Subsequently, when he announced [Tesla](https://www.tesla.com/) would start accepting Dogecoin for a limited category of merch, the currency further appreciated by an estimated 43%.

If this wasn't enough proof, the entrepreneur has also profited from his tweets and crypto trading. He mocked [Bitcoin](/coins/btc) for years, comparing it to fiat currencies. Yet, last year Tesla announced a $1.5 billion investment into the currency, which sent its valuation soaring by 20%. Tesla later announced it would accept BTC payments, sold off part of its Bitcoin holdings, and then canceled accepting BTC payments, which depressed the price by an approximate 12% on the day.

## Is it Market Manipulation?

Under UK regulations, market manipulation is illegal and can be approached by civil and criminal regimes. Both routes would refer to statements and actions attempting to manipulate market sentiment and, thus, influence prices. Some experts in securities law argue that Elon's disruptive behavior towards crypto exchanges could be perceived as market manipulation. Many others are not convinced. Regardless, he has been warned off tweeting on subjects that could sway markets and was fined $20 million by the SEC. Yet, it doesn't seem like his influence has faded one bit in the eyes of investors.

## Implications for the Entire Crypto Market

Individuals like Elon Musk having so much influence in the crypto community has been a concern for the SEC and regulators in the US for years. However, it was when traditional investors started losing their savings over these indicators that introducing more stringent regulations became a hot topic. Hester M. Peirce, a pro-crypto commissioner with the SEC, has proposed an alternative solution – providing more clarity governing the crypto market to avoid losing talent and innovators to countries with laxer policies over crypto.

As regulators try to introduce further protections for crypto holders, it will be interesting to observe what other factors prove to drive valuations in the market.


An Elon Musk Tweet Can Move Markets

If you want to buy and sell non-fungible tokens (cryptographic tokens representing something distinctive), have you looked at the [Crypto.com](https://crypto.com/) NFT marketplace? Given the popularity of the search term 'crypto com NFT', it seems many have.

In contrast to bitcoin and other cryptocurrencies, it does not represent an interchangeable commodity. Therefore, unlike money, you cannot part with an NFT and replace it with something of equal value later. The main use of NFTs is within the digital art world.

While digital art can be copied by duplicating the file, NFTs put an end to that by encrypting the digital source of artwork with blockchain, preserving its origin. Consequently, the person in ownership of an artwork's NFT holds the 'original' piece and affords a value to the art beyond what you might expect from a computer file.

NFTs are sold to other collectors for as much as they are prepared to pay. The boom in popularity of NFTs over the past year has seen many marketplaces spring up that offer NFT trading services. The Crypto.com NFT Marketplace is one.

The marketplace contains several NFTs to buy, ranging from art and gaming to sports and music. Each NFT is either listed at a fixed price or through a traditional auction, offering flexibility for buyers and sellers. Due to a large amount of art NFTs on the marketplace, Crypto.com allows users to filter through by blockchain, price, listing date, likes, and views.

NFTs can be purchased on the marketplace using a credit or debit card, unlike other NFT marketplaces that require crypto to facilitate payments. The platform will now offer Ethereum-based NFTs, further expanding the potential universe of assets.

Crypto.com does not charge any fees to the buyer when an NFT purchase is made. In contrast, other NFT marketplaces charge a commission when making a purchase. Furthermore, the Crypto.com DeFi wallet also supports NFTs, and allows users to purchase NFTs using FIAT currency. Selling NFTs on Crypto.com costs a fee of 1.99% per NFT, and applies to the initial sale of the NFT to incentivize more creators to join their platform. 

This fee structure works well for those regularly buying and selling NFTs. In the long term, it could save them significant amounts.

Since the Crypto.com NFT Marketplace launched in September 2021, they have onboarded over 10,000 creators and built a 46K-strong following on their Twitter page and a growing Discord community.

More [NFT news](/news/category/nft-news).
 
 



Crypto.com NFT Marketplace in Focus

Are you looking for the Solana price? The UK market views can be informative.

The term 'solana price uk' is a hot phrase on Google, and here's why.

The [Solana](https://solana.com/) price (UK and elsewhere) has performed exceptionally well since its inception in 2019. However, that doesn't imply you should get in and invest right away.

Instead, think about the potential rewards as well as the risks before investing any money.

## A Little Knowledge on Solana

Solana was created in 2019 to address the shortcomings of traditional blockchains such as [Ethereum](/coins/eth). This means providing network users with a blockchain ledger that is faster, cheaper, and more scalable.

For example, even though Ethereum is the world's second-largest cryptocurrency and the de-facto smart contract system of choice, it can only handle 15 transactions per second. This is just too inefficient to be used as a worldwide blockchain network. On the other hand, Solana is said to be capable of processing over 65,000 transactions per second.

Another reason for Solana's popularity is that the blockchain network can process transactions in as little as 2-3 seconds, compared to the 13-15 seconds for Ethereum. Furthermore, although Ethereum transactions are notorious for having high costs when the network is busy, Solana transactions are lower cost.

Based on these performance-driven measures, many market observers predict that Solana will one day overtake Ethereum in terms of market valuation and global acceptance. Solana, like Ethereum, has its own native cryptocurrency token, SOL, which trades on exchanges.

### So why is 'solana price uk' such a popular search term?

Interest in Solana grows, despite its volatility. However, many crypto traders are sceptical about Solana's winning streak and are hesitant to buy it. Below are some of Solana's advantages and disadvantages to help investors decide whether Solana is a suitable investment for 2022 or not.

## Disadvantages 

1.	Unstable network: The investor community in Solana is still in its infancy. Investors may be hesitant to choose SOL over Ethereum because it is less well known. When the Solana Foundation confirmed its network was experiencing instability, the crypto's reputation took a knock. Because crypto investors value trust, this flaw sets SOL apart from its competitors.

2.	Inflation: Cryptocurrencies rose in popularity in 2020 for various reasons, one of which was to use them as a hedge against inflation. Most cryptocurrencies have a fixed limit on the number of coins that will ever exist. However, Solana does not have a consistent supply of currency. The designers started boosting the annual supply of SOL tokens by 8%, which means that the inflation rate will reduce by 15% until it reaches 1.5 percent, which will stop decreasing.

3.	Solana isn't decentralized enough: While some crypto enthusiasts claim there aren't many drawbacks to investing in SOL, this cryptocurrency element is widely regarded as its most significant drawback. The ETH network currently has approximately 200,000 validators, while the Solana network has only 1,000 validators. The more validators there are, the more secure the network becomes.

## Advantages

1.	Solana has the third-largest features market: Solana has the third-largest open interest in futures contracts, the most crucial measure in derivatives contracts. Regardless of its current trading capacity, the aggregate derives the total number of contacts stored on its network by market players. Open futures interest has maintained its previous levels despite a steep drop in price in early November.

2.	NFTs and Smart Contract: Over the last year, the NFT industry has exploded. Non-fungible tokens became a high-growth industry prospect, with massive sales sponsored by renowned digital artists. Solana went into the market to share the NFT alternative, taking advantage of the growing sector.

3.	There's a solid institutional attraction for Solana's ecosystem: The market capitalization of Solana is more than quadruple that of Avalanche and Terra. The last year has shown strong signs of SOL's rising investor community, and with increased investor adoption comes increased institutional adoption.

SOL's suitability for your investment is determined by your risk tolerance, asset diversification, and the amount of money you wish to invest. It's crucial to conduct research before investing in highly volatile assets like cryptocurrencies to see if they're a good fit for your portfolio.


Solana Price: UK Market View on SOL

It is time to ask ourselves 'are crypto bubbles bursting?'.

The rise of [Bitcoin](/coins/btc) (BTC -0.62%), [Ethereum](/coins/eth) (ETH -1.23%),[ Dogecoin](/coins/doge) (DOGE 4.64%), and some other digital currencies has prepared the way for once-in-a-lifetime profits. For example, when Bitcoin topped $64,800 a token in mid-April, a $155 investment at $1 would have been worth nearly $1 million.

However, cryptocurrency has plummeted in value during the last two weeks. Some could call this a natural retracement following a monster run upward. Still, I'd like to refer to it as a popping bubble.

While many people feel that digital currencies are the best thing since the invention of chocolate, I believe the crypto market is collapsing for several reasons.

## Some Governments Aren't Okay with Cryptocurrency

The crypto bubble is bursting because some countries are concerned about cryptocurrencies undermining their central bank-backed currencies. For example, China sent the cryptocurrency market into a tailspin last week when it announced that its banks and online payment channels would no longer be able to provide any cryptocurrency-related services.

However, it's worth noting that a significant amount of Bitcoin mining occurs in China. In this regard, China is far from alone. For example, Turkey recently passed legislation prohibiting the use of cryptocurrency for payment. Meanwhile, digital currencies are illegal in Bolivia, Ecuador, Nigeria, and Algeria. As a result of this trend, the global use case for cryptocurrency is becoming increasingly unlikely.

## Centralisation is Still an Issue

One of the goals of cryptocurrencies is decentralisation. This was done to ensure that a network is not controlled by a single person or a small group. However, according to BitInfoCharts.com, ownership of Bitcoin and Dogecoin is relatively consolidated. For example, only 2,155 addresses control roughly 42% of all Bitcoin, and only 99 addresses control 66.6% of Dogecoin. As a result, people may recognize that these financial experiments aren't as decentralized as they should be.

## The Real-World Utility is Minimal

A severe drawback of digital currency is that it is practically useless outside of a cryptocurrency exchange. Even though many well-known corporations or organisations have accepted Bitcoin or Dogecoin, the total number of businesses accepting either is still insignificant.

## There is No Entry Barrier

My main issue with cryptocurrency, aside from its lack of utility, is that there is no entry barrier. Anyone with a computer or an innate desire to code can create a blockchain and, possibly, a tethered token. [CoinMarketCap](https://coinmarketcap.com/) claims to have a database of around 10,000 different cryptocurrencies. While many aren't actively traded, the number of potential competitors to Bitcoin, Dogecoin, and Ethereum is staggering, with many more on the way. In short, the crypto sector is constantly being diluted by an infinite number of competitors.

## There is No Identifiable Real-World Correlation

Another concern with crypto is that there are no obvious real-world correlations. For example, we know that gold and the US dollar have an inverse relationship. Gold is more likely to rise when the value of the dollar falls. This is a long-term relationship that has formed.

Bitcoin, Ethereum, and Dogecoin do not have these correlations. Crypto enthusiasts want to emphasize how crypto is a hedge against inflation. Still, they forget that the value of Bitcoin has fluctuated depending on how quickly or slowly the money supply expanded. Because cryptocurrency has no physical connections, it is fueled by emotion and technical analysis.

## Over Leveraging Can Be Haunting the Crypto Market

Customers at some of the most well-known cryptocurrency exchanges will be able to multiply their account equity by 50 to 125 times. While this level of leverage is common in forex, where currencies move in fractions of a cent, it is absurd for cryptocurrency, which can swing 3% in seconds. According to data from Bybt.com via Bloomberg, approximately 887,000 accounts representing $9.4 billion in total crypto assets were liquidated on May 19 due to leverage-based margin calls. It doesn't take much for the crypto market to go south rapidly because of this tremendous leverage.

## Investors Always Overhype New Tech

Finally, investors usually overestimate new technology uptake. Even though many people are enthusiastic about blockchain, it has been more than a half-decade, and the euphoria has yet to translate into actual enterprise use. Every next big-thing technology, including cryptocurrency, requires time to mature.


Are Crypto Bubbles Bursting? They May Be...

A sense of optimism hung in the crypto air this morning as [Bitcoin](/coins/btc) and other major cryptocurrencies bounced strongly after a week of heavy losses.

At the time of writing, the price of Bitcoin stood at $36,460 representing an increase of 8.10% in the last 24 hours while Ethereum gained 8.23% reaching a price of $2,423. The total market cap of crypto currently stands at $1.65 trillion, an increase of 7.71%. After a week of absolute carnage, it appears that investors have indeed bought the dip demonstrating continued strength in the cryptocurrency market.

## Increasing correlation to traditional markets

Bitcoin began its bounce on Monday as US east coast traders returned to their desks after lunch. Interestingly the US equity market also saw a strong surge during the same time indicating Bitcoin’s increased correlation with traditional markets. With many eyes on today’s meeting of the Federal Reserve Open Market Committee (FOMC) which is anticipated to discuss interest rate rises and continued asset purchases, this week could be very interesting indeed.

The Relative Strength Index continues to indicate Bitcoin is heavily oversold which would suggest a turnaround is imminent as buyers seek to take advantage of the discounted prices. As we have mentioned before, historically Bitcoin often begins strong rallies after precipitous falls. Could this be the start of a rally to new all-time highs?

## Alt season on hold?

Mike McGlone, Chief Commodity Strategist at Bloomberg Intelligence however was not so optimistic for altcoins going on record to say, “Price reversion in crypto is likely to spread in 2022 after the assets were a poster child of speculative inflationary excess in 2021, but Bitcoin stands to come out ahead.”

However, as we can see above many of the major altcoins demonstrated as much resilience in Bitcoin with equally strong bounces. Solana, Polkadot, Atom, and Avalanche all posted 24-hour gains ranging between 12% and 17% respectively. The crypto market may be down, but it is certainly not out.

## ‘I'm loving it’

Finally, in a candidate for tweet of the year already the official Twitter account of McDonald’s Restaurants asked “[how are you doing people who run crypto twitter accounts?](https://twitter.com/McDonalds/status/1485726032967704582)” Demonstrating the humour and camaraderie that has come to be associated with what is known as ‘crypto Twitter’ McDonald’s are clearly getting their own back on all those crypto tweeters who see a job at McDonald’s as the last resort in a prolonged bear market. However, I and many others have a feeling that McDonald’s will soon be eating their own words, with extra fries.

Bitcoin and Crypto Rebound After Week of Loss

Should we be concerned?  So far, 2022 has put the digital assets market squarely in ‘bloodbath’ territory, and investors are making for the hills once again.  What is it about the month of January that that brings out the absolute _worst_ in cryptocurrency investors?  At least, that’s what the history of this youthful market has taught us.  However, we’ve seen the bottom fall out on earlier occasions, and, unlike the [Dotcom bubble of 2000](https://www.thebalance.com/what-was-the-dotcom-bubble-5209336), cryptocurrencies have been able to pull off some rather remarkable ‘come backs’ in their history.

Cryptocurrencies are a rapidly evolving market, but it _is still_ a nascent market - miles away from maturity.  Heck, it’s scarcely even regulated!  So long as digital assets, and the [blockchain technologies](https://www.pwc.com/us/en/industries/financial-services/fintech/bitcoin-blockchain-cryptocurrency.html) behind them, continue innovating, finding their rightful place in the market, cryptocurrencies are going to remain a highly volatile environment.  What we’re seeing again this month is that trademark volatility.

## Cryptocurrency or Dotcoms?

The distinction between cryptocurrencies and the dotcoms of the late nineties is that investors suddenly realized, mostly in March of 2000, that many of the online companies with a “.com” at the end of the web address had business models that simply weren’t viable, as well as wildly unprofitable.  In the case of cryptocurrencies, there is an evolution of new technologies taking place - financial innovations.  Digital currencies are designed with the intention of redefining how the world uses money.  How it evolves is a question yet to be answered, but for now, investors are still largely convinced that the difference between profitability and loss has more to do with timing than any other factors.  Every cryptocurrency investor should expect that, no matter what digital coin they invest in, it’s likely to encounter huge fluctuations in valuation.  Again, this is the kind of volatility we should expect from an immature market.

So how many of us a year from now will look back, and wish we’d only _bought more_ cryptocurrency this month?

## A new Global Finance

The momentum that seems to buoy cryptocurrencies every time the market tanks is the belief that cryptocurrencies genuinely represent the very early stages of a new version of global finance that operates on these new blockchain technologies.  Where’s my proof?  Look at the ATMs that are getting as much utilisation as a public phone booth nowadays.  Find me one member of the Gen Z demographic that’s visited a bank recently.  You may have difficulty _finding a millennial_ that’s ever physically walked into a bank. In modern society, conducting financial transactions has become a predominantly online experience.  The pandemic of the last two years has only galvanised that trend.

Instead of walking up to an ATM or going into a branch, society handles their finances via tablets, smart phones, and laptops.

The advent of digital assets suggests that the most innovative concepts of finance are possibly yet to be revealed.  The blockchain technologies powering cryptocurrencies represent faster, more prudent means of exchanging currency and it is expected to transform global finance.  2021 was simply a watershed year for cryptocurrencies, despite them being banned by the Chinese government.  There’s still more excitement than there is trepidation in this market, and that means 2022 is shaping up to be another active year. 

In other words, the best is yet to come.



Crypto Market is Down – Bloodbath or Bargains?

A new year often means a fresh start but is this the case in the cryptocurrency industry? Lets take a closer look.

At the time of press, the cryptocurrency industry is currently worth $2.23 trillion and shows a 0.79% decrease over the last 24 hour period. In contrast the total amount of crypto traded (volume) in the last 24 hours has risen by 42.06% to $108.48 billion indicating sellers have marginal control over the market.

For extra detail DeFi makes up 21.38% of the total crypto market volume at $23.20 billion whilst stable coins represent 61.47% of the last 24 hour trading volume at $66.69 billion. This data shows the cryptocurrency market is relatively stable going in to 2022 and could be viewed as a ‘bottom’ with prices anticipated to rise in the near term.

## Bitcoin price stability
---------------------------

At the time of press the price of [Bitcoin](/coins/btc) is $46,607, a [decrease of 1.00% in the last 24 hours](https://coinmarketcap.com/currencies/bitcoin/), whilst market dominance continues to fall and currently stands at 39.60%, a drop of 0.08% over the last day.  On Monday, January 3rd Bitcoin celebrated its 13th birthday and shows no signs of slowing down or letting other coins take the number one spot.

Although Bitcoin may never be used to buy a simple cup of coffee, many people are beginning to see Bitcoin as alternative rival to gold as a store of wealth and a solid hedge against rising inflation. Indeed, Grayscale Investment Management recorded returns of 62.2% for its Bitcoin Trust in the last 12 months easily eclipsing the 2% offered by Gold.

## $55 billion Grayscale AUM
-----------------------------

Grayscale are firm believers in the transformational power of cryptocurrencies and describe themselves as ‘the leading partner to investors who wish to navigate and deploy capital into this new asset class’. At time of press, Grayscale is the worlds largest digital currency asset manager with $55 billion worth of assets under management. However, all that being said Grayscale have actually reduced their cryptocurrency exposure in the last couple of months as prices have failed to ignite.

In early November Grayscale AUM were sitting at a comfortably $61 billion but the lack of price action since then has seen the company sell off 30% and 22% of their Bitcoin and [Ethereum](/news/category/ethereum-news-today) trusts respectively. However, recent data shows that since December 31st 2021 Grayscale have purchased $11.4 billion worth of cryptocurrency demonstrating once more their confidence in the cryptocurrency and digital asset market moving in to the new year. Long may this continue.


2022- new beginnings for the cryptocurrency market?

Wouldn’t you know it?  Of all the people in our global community, 2021 was the year that _cryptocurrency users_ received the accolade of being the most charitable investors on the planet.  As society embraces cryptocurrencies on a wider scale, it’s a fact that people are increasingly using digital assets instead of fiat to make donations to their favourite charities. 

United Way Worldwide, the international network of 1,800+ non-profit fundraising affiliates, reported a jaw-dropping 350% increase over the past year in donations that were made using cryptocurrency.  No less impressive, the largest grantmaker in the U.S., Fidelity Charitable, recently reported receiving over $274 million in cryptocurrency donations in 2021.  That’s almost _four times_ the grantmaker’s prior record of $69 million in 2017.

## Crypto-Philanthropy

While crypto-philanthropy may be surging in 2021, it isn’t because the concept is entirely new.  Remember when the cryptocurrency market had its “coming out” party during the 2017-18 bull market and American actor turned celebrity tech investor, Ashton Kutcher, donated crypto on “The Ellen Degeneres Show?”  Or when a philanthropic project called the [Pineapple Fund](https://pineapplefund.org/) was initiated by an anonymous investor who went on to donate more than 5000 Bitcoins to over 50 different charities through the fund?

Tech and crypto wealth are rapidly becoming a big part of global philanthropy.  Now, faith-based organizations, churches, and non-profits are beginning to recognize that, with the proper online platform in place, they can draw in larger donations than regular fiat would alone as crypto expands its role in the rapidly growing online economy.

While the larger and more widely recognisable charities and international “do gooders” like the American Red Cross and Save the Children are already active in providing platforms that allow donors to contribute crypto instead of fiat, smaller organizations are still struggling with how they can set up a similar system to benefit from the recent wave of crypto-philanthropy and are determining if it even makes sense for them to do so.  It’s a compelling question considering that smaller charities make up the majority of registered non-profit's in America. 

## Bitcoin Donations

In 2018, [Engiven](https://engiven.com/) and [The Giving Block](https://thegivingblock.com/) were launched.  These two sites have become the most popular crypto-giving platforms for assisting non-profit's and especially churches in setting up online platforms for making cryptocurrency donations.  This year The Giving Block has said that it expects to facilitate cryptocurrency donations for charities totalling between $100 and $150 million.  This past November, the cryptocurrency donation platform Engiven said it accepted what the company is calling “the largest single Bitcoin donation known to date” which turned out to be a Bitcoin donation made to an undisclosed faith-based organisation totalling $10 million.

How liberating it is for the crypto-community to beat the traditional philanthropists to the top of the “most charitable” list?  But perhaps the better part of the story is how the cryptocurrency market has opened a new way for charities to source their efforts to make the world a better place. 



Crypto Investors Recognised for Charitable Giving

The price of Bitcoin was struggling for momentum today as the price hovered just below $49,000 on major indices across the market representing a fall of just 0.31%

The price of [Bitcoin](/coins) has remained range bound between $48-$51,000 since last weekends price fall from $58,000 down to $46,000. It seems as if this weak price action is keeping buyers at bay who are likely waiting for the surge in price. That being said, Bitcoin still represents just over 40% of the total cryptocurrency market. Bitcoin also has an individual market capitalisation of $1.03 trillion – the largest cryptocurrency in the market.

## More buys from Michael Saylor

This malaise seems to be affecting the broader crypto market with no clear break out gainers or losers across the last 24 hours. As we mentioned previously, without regulation the market is wide open to manipulation. This puts many investors and traders off making an entry and building a position – except Michael Saylor that is. The founder and CEO of [Microstrategy](https://www.microstrategy.com/en), the US based business software and business intelligence organisation, announced the purchase of an extra 1,434 Bitcoin on Twitter yesterday at an average price of $54,477 bringing the companies total holdings to 122,478 Bitcoin. Clearly Mr Saylor has more confidence in the future price of Bitcoin that the rest of the market. Microstrategy’s Bitcoin stack is now worth a coll $3.66 billion with an average buy in price of $29,861 meaning Saylor is still clearly in profit.

## Inflation hedge


Saylor, along with many others, see Bitcoin as the perfect hedge for inflation and a stagnating gold price. In fact, Michael Saylor believes that Bitcoin has the potential to replace gold as the number one store of value. In a recent tweet, Saylor made the bold claim that the cryptocurrency revolution will be lead through inflation, technology and adoption with Bitcoin leading the way.

The caution from investors may be due to the US Consumer Price Index report, due to be released this Friday at 13:30 hours UTC. This report is set to show that the cost of living in the world’s largest economy has risen by 6.8% in November with 7% just around the corner. If this predicted data proves to be correct then an injection of volatility into the crypto market is to be expected. With inflation reaching a 30 year high many believe this is helping to create the perfect storm for the rapid advancement and adoption of digital currencies to help relieve the pressure.

## XRP shows strength amid uncertainty

Cross border remittance coin XRP saw strong growth this week leaving many to speculate that somebody somewhere has inside knowledge that the case with the SEC could be coming to a close and the adoption of Ripple Net could be close at hand. Fans of XRP and Ripple have experienced a long and arduous three years after many false dawns and broken promises. It seems as if the court case was the final nail in the coffin for the much maligned XRP. However, with the current economic climate continuing to experience choppy water the time is perfect for a multinational organisation such as the World Economic Fund or the International Monetary Fund to approve the use of a new approach to international finance. Could this involve XRP and Ripple? Only time will tell.

BTC price Struggles to Make Headway

We have been here before.  The “flash crash” that occurred the morning of December 4th can likely be attributed to many factors, but the lesson is the same - investing in cryptocurrency requires the wherewithal to deal with extreme volatility.  [Bitcoin](/coins/btc) continues to reign as the industry titan and when the price suddenly plummets, like it did Saturday morning, altcoins and other cryptocurrencies are likely to follow suit. 

Crypto-investors found themselves having to deal with that exact scenario this past weekend.

## Omicron Variant Effects Prices

Hopes of seeing Bitcoin achieve a year-end price level of $100,000 were dashed in only moments when monetary policy rumours and speculation about the new Covid-19 variant, Omicron, sent tremors through the cryptocurrency marketplace.

The world’s original cryptocurrency suddenly lost more than 18% in value, dropping to as low as $42,875…_all within the span of a single hour_.  As the new week begins, Bitcoin has already recovered some of that value back, creeping just above $50,000.  But, still well below the $55,000 - $59,000 price range the digital coin traded in the week prior to the crash.

Don’t act surprised.  Experiencing a 30-40% price fluctuation within a single month is something to be expected as the cryptocurrency market continues to mature.

## Buy The Dip- Opportunity?

Following closely behind Bitcoin, the world's _second-_largest cryptocurrency by market capitalisation, [Ethereum](/coins/eth), declined to $3,525 per coin – the digital asset’s lowest price in a month, though it has since recovered some of the lost value. 

There are investors among us who have waited patiently for this opportunity.  The more experienced crypto-investors among us are seeing a familiar pattern – a significant and sudden market decline “washes out” the crypto-newbies who’ve been playing the cryptocurrency market like a casino, and while those players are making for the hills, the more prudent among us view the market carnage as a buying opportunity.

In other words, is this an opportunity to “buy the dip?” 

Even if we take Saturday’s precipitous drop into consideration, Bitcoin was trading just over $29,000 when 2021 began so it is still up over 65% on the year.  Lately, we seem to have been standing on the edge of what many would consider “mainstream adoption” of cryptocurrencies like Bitcoin and Ethereum.  But those aren’t the only two “would be” buying opportunities right now. 

## Rise of The Altcoin

Last weekend’s sell-off affected other altcoins that had been riding a trend of popularity in 2021, making such affected digital assets no less enticing in terms of “buying the dip.”  [Polkadot](https://coinmarketcap.com/currencies/polkadot-new/), which trades under the symbol DOT, looks especially appealing right now.  The digital asset lost nearly 10% of its value in the first 24 hours of the sell-off, but most suspect the decline had come as a result of the broader market sell-off.

At present, Polkadot is showing signs of recovery which would suggest strong investor support for this suddenly popular digital asset.  Polkadot has evolved to find a place on the list of the top-ten largest cryptocurrencies by market capitalisation, we assume for a reason.  Investors looking for solid projects to invest in that demonstrate future potential might have a reason to consider Polkadot right now.  Like, _right_ now…

Popular Altcoin Prices Drop in Unison

The surge in Omicron value may simply be coincidence, but more likely points to some irrational thinking among crypto buyers.

Just hours after the World Health Organization (WHO) named a new variation of COVID-19 Omicron, there was a rally in the price of OMIC.

While the broader crypto market responded poorly to the identification of a ‘concerning’ new variant, the DeFi Protocol Omicron varient value saw gains.

Previously little-known, the cryptocurrency proved resilient and over the weekend saw its value increase 10 times over.

## Omicron- Digital Currency

According to one exchange, OMIC – a token of decentralised reserve currency protocol Omicron – saw bids grow from less than $70 late on Friday to around $690 by Sunday. At the time of writing the value was sitting at about $325.

Decentralised reserve currency protocol OMIC is a fork of Olympus on the Arbitrum Network1.

On its website, Omicron says OMIC ‘introduces unique economic and game-theoretic dynamics into the market through staking and bonding’.

It adds: ‘Our goal is to build a policy-controlled currency system…we believe this system can be used to optimise for stability and consistency so that OMIC can function as a global unit-of-account and medium-of-exchange currency.’

## No Connection to COVID-19

There is no connection to COVID-19

The token’s supply is capped at 1,000,000 OMIC, but many data providers do not provide details about the cryptocurrency’s market capitalisation. It is, however, backed by a basket of assets, including stablecoin USDC, and is listed solely on decentralised exchange SushiSwap.

The broader crypto market has also stabilised to an extent following the weekend stumble.

Omicron Variant Value Surges as COVID-19 Variant Named

The crypto bull market seems to have stumbled this week? Why?

Earlier this week, the CEO of AMC Theatres, the largest movie theatre chain on the planet, said his company would begin accepting shiba inu coins as payment through Bitpay wallets. This could happen in 60 days.

While a positive news story, it did nothing to prevent the crypto bull market from cratering out over the past 24 hours after a seemingly parabolic rise.

Two of the market’s titans, [Bitcoin](/coins/btc) and[ Ethereum](/coins/eth), led the decline, exhibiting sharp drop-offs in value after setting new all-time highs last week.

## Bitcoin Value Falls

Bitcoin’s value fell below $58,000 on Thursday - a sharp contrast to the digital asset’s achievement the week prior when the price shot up to over $68,000 for the first time.

Some are quick to associate the recent decline in cryptocurrencies with President Biden’s signature on a new $1.2 trillion infrastructure bill, which includes specific language on the tax reporting requirements for cryptocurrency exchanges.

The news that some of the proposed legislation may treat _stablecoin issuers_ like banks didn’t sit well with investors. Still, there are investors that have developed a bit of an appreciation for these ‘corrections’ considering how it aligns with their investment strategy of ‘buying the dip’.

But not all of us are willing to adopt this strategy, and a harsh dip can chase off new investors. Sometimes, permanently.

## Is the Crypto Market Immature?

Consider for a moment that market volatility like we’ve seen in the last day or two can be directly linked to the crypto market’s immaturity. Cryptocurrencies, by and large, have yet to achieve a state of ‘mainstream adoption’, meaning many, _many_ traditional investors are still watching from the sidelines.

Volatility, from a crypto bull market to a bear market, has come to be expected. When a celebrity tweet can send a particular coin upwards of 10% or more, it’s a sign of a market still evolving.

Another bit of news that may have triggered the _flight_ mechanism among some investors had to do with Chinese regulators intensifying their efforts to ferret out those in the country still involved in Bitcoin mining activities, something the Chinese government outlawed earlier this year.

America’s infrastructure bill and China’s clamp down on mining activities both had an obvious impact on Bitcoin. As the key digital asset used in assessing the health of the entire cryptocurrency sector, both announcements had a negative impact that rippled across the entire market.

## Mainstream Adoption of Crypto

Still, there were signs this week that cryptocurrencies will continue making their push towards mainstream adoption.

The Los Angeles sports arena, home of the NBA’s Lakers and Clippers, will be renamed from the “Staples Center,” the formal name of the 20,000- seat arena since 1999, and become the “Crypto.com Arena” in a $700 million deal for the naming rights.

As a result, Crypto.com’s digital coin, CRO, was buoyed to an all-time high of $0.593 on Thursday after the company won the naming rights.

Lastly, the crypto ‘brain trust’ anticipates that more digital coins will become an accepted form of payment for many more vendors in 2022. AMC has jumped on the bandwagon, McDonald’s and Burger King are in the conversation, even charities are embracing cryptocurrencies as more and more investors take their positions in the market.

As this trend evolves, the value of cryptos will likely increase and the market will continue to evolve, not retract.

Infrastructure Bill ~ Crypto Bull Market Stumbles

The crypto markets continue to experience a strong correction today as overall market cap slid by 9.7% to $2.58 trillion at the time of writing.

Negative gains were experienced across the board, although some more than others. The Graph (GRT) suffered the most with a massive 18.86% pull back.

However, the question on everyone’s lips at the moment seems to be ‘will Bitcoin hold the $60,000 level?’.

## Bitcoin Fighting to Hold $60,000

After another week of tumultuous crypto markets activity, the price of Bitcoin (BTC) fell again Tuesday morning to just over $59,000, recording a drawback of 9.97% in the previous 24 hours.

As the largest and most well-known cryptocurrency, the price action of Bitcoin leads the way and is often used as an indicator of general market sentiment.

While this pull back may worry some, and certainly doesn’t look good on paper to many, it is just another day in the crypto wild west. Indeed, an anonymous crypto wallet made a massive purchase of 207 Bitcoin at an average price of $62,000, which clearly demonstrates buyer confidence in some areas of the market.

## Over-Leveraged Positions

What is the cause for this market pull back? Crypto sentiment has never been so high leaving many puzzled by this latest move.

After a month of all-time highs and many commentators calling for $100k by even the end of November, this shake down may be seen as inevitable. 

Crypto derivative products like Options and Perpetual Futures are hugely popular on leading exchanges, and when crypto prices stack too heavily against the exchange, corrections on this scale often happen. Indeed, what many saw as a massive leverage correction only happened less than two weeks ago.

## Market May be Heating Up

So, is this an indication that the market is heating up and getting close to a top as more and more people jump on the crypto train? Possibly.

Personally speaking, I think we have another three to six months before we experience a significant market retracement which may last a considerable amount of time.

As mentioned previously, the Plan B model seems to be playing out perfectly with a $100k Bitcoin expected by Christmas and a possible $135,000 Bitcoin price before the end of this bull run cycle.

Overall, today’s market pull back only really affects traders and those who are using considerable risk by opening leveraged positions. To long term investors this kind of price action is just another ‘normal’ day in crypto paradise. But will regulation and the SU securities and exchange commission (SEC) have something to say about this? Only time will tell.

A Normal Day in Crypto Markets Paradise

The crypto market took another tumble today as prices fell just hours after reaching all time highs.

Bitcoin, along with many other top tier cryptos, experienced a price shock Wednesday afternoon when prices plummeted just hours after achieving all time highs.

Bitcoin hit a price high of $68,744 ([Coinmarketcap.com](https://coinmarketcap.com/)) before falling sharply to $64,050 in less than four hours. The price shock was felt across the board with other major crypto experiencing similar pain. Ethereum fell from $4,858 to $4,538 whilst current market darling Solana dropped from $247.80 to $222.33.

Many commentators were quick to blame Chinese property developer Evergrande Group and its frantic attempts to avoiding defaulting on their bond payments but on closer inspection this does not appear to be the culprit. While the domino effect that a massive debt default may cause the worldwide financial markets is certainly cause for concern, for those who are well versed to the unregulated crypto wild west Wednesday’s average 8% pull back was nothing new.

## Crypto Market Recovery Position

The real question investors are asking themselves is how well have prices recovered?

Some coins have been hit harder than others. In classic investor / trader fashion Polkadot’s much anticipated Parachain Auction launch was hit with a massive 23% fall as investors ‘sold the news’ on the day of launch. Less than 48 hours after hitting an all time high of $53.81 DOT slid to just above $41.50 on some exchanges. Prices have recovered since with DOT’s current price at around $45.

Even more worrying was OmiseGo’s (OMG) 35% fall from an all time high of $19.60 to a low of  $12.62 in little more than 15 hours. This spectacular fall from grace occurred immediately after a ‘wallet snapshot’ was conducted in order to grant OMG holders with free supplies of BOBA token. Although this kind of activity has been witnessed many times before (the XRP - Flare token air drop comes to mind) the speed and level of co-ordination in the OMG / BOBA situation is something to behold.

## The Call for Regulation

So where are we now? As I mentioned above, the overall cryptocurrency market cap only fell by 8% which in crypto terms is just a blip on the horizon. However, at time of press many tokens are continuing to fall in price and the overall market cap stands at $2.77 trillion, a drop of over $100 billion in the previous 24 hours.

While this is nothing to be afraid of, it does demonstrate how open to manipulation the cryptocurrency market is without laws to protect investors. Although the market has matured significantly in the last 12 months, if crypto truly desires promotion to the premier league of investment class it really needs to address this blatant market manipulation and the only way crypto can achieve this is through policy and regulation. Watch this space.

Crypto Market Blip – Why Is It Down Today?

What do a British music icon, a social media mega-platform and a European crown prince all have in common? The NFT market.

This week they have all confirmed they are joining the NFT juggernaut, further boosting the NFT market’s position.

As the cryptocurrency industry prepares for an autumn boom, as predicted by market analysts and industry commentators, it is widely expected that the NFT marketplace will see a further surge in interest and value.

As this week’s developments show, NFTs are a hot topic, attracting international media attention and massive price tags. However, to many they remain something of a mystery.

## What are NFTs?

Here we take a look at the fast-developing NFT market, explain some of the basics and discuss some of the high-profile entrants to NFTs announced this week.

For those of you who may not be aware, NFT stands for Non-Fungible Token which, in the simplest terms, means a unique digital certificate of authentication.

Consternation over the rapid growth of NFTs arises from the perception that people are paying astronomical sums for what are, essentially, pixel constructed pictures (to put it in very basic terms).

Well, the explanation is that NFTs are not just that.

In the ‘real’ world, you may have a physical certificate of ownership for an individual piece of art, proving you have ownership and which you would hand over with the artwork should you sell.

An NFT has a similar job, just in a different environment. An NFT is a digital token of ownership and authenticity for a digital artwork that lives in the digital sphere, making the NFT and the piece of digital art interchangeable.

## The NFT Marketplace

The NFT marketplace represents the frontier between the physical and digital worlds. It's a place to buy NFTs, sell NFTs and trade using your crypto wallet. 

The amounts people are prepared to spend on NFTs demonstrates there are plenty who believe there is a high future value for digital art. That explains the rapid growth of the market, and the rush from celebrities, artists and international brands to get a slice of the action.

For example, veteran British DJ Paul Okenfold has announced plans to release his latest album as an NFT (digital download) on the Cardano blockchain. Every part of album Zombie Lobster is set to be tokenised, including cover art, individual tracks and sleeve notes. The move is part of a collaborative partnership with NFT specialist Starship Universe.

TikTok also joined the NFT club this week when it announced plans for a creator-led NFT collection, demonstrating the social media giant’s confidence in the burgeoning sector. TikTok Moments is a collection of videos from six of the platform’s most influential content creators and all proceeds from sales go directly to the stars and NFT designers.

## Non-Fungible Castle Conference

Even royalty are getting involved. This week the Crown Prince of the Czech Republic, William Rudolf Lobkowicz, launched his own collection of NFT works aiming to reflect historical pieces held at home.

The House of Lobkowicz traces its roots back to the 14th Century and has a reputation for retaining and preserving a wide range of works of art, from Beethoven to Canaletto. Visitors to the ‘Non-Fungible Castle Conference’ this month will be able undertake virtual tours and view some of the historical pieces alongside their digital representation.

Lobokowizc said: ‘By investing in an NFT, a patron receives ownership of a unique digital asset while directly supporting conservation efforts and other cultural activities.’

Latest Moni

Crypto Market News

Read the latest Crypto Market news.