Cryptocurrency price news – Bitcoin hits record high and Shiba Inu coin up today after Braintrust crypto e… – The Sun

CAN BITCOIN HIT $70,000, CONTINUED

A year from now, Wallet Investor sees the price of Bitcoin surpassing $86,000.

In five years, the price is expected to skyrocket to $209,033.

Meanwhile, Economy Watch predicts the price of Bitcoin will return to its heights in April of $64,000 at the end of the year.

Then, at the beginning of 2022, Economy Watch notes Bitcoin will “be heading towards the $70,000 mark.”

CAN BITCOIN HIT $70,000?

To reach $70,000, Bitcoin would have to climb by 23 percent in the remaining days of the year.

And the way things are trending, Bitcoin might break $70,000 at the end of the year.

At the end of 2021, Coin Price Forecast sees the price surging to $79,576. By mid-2023, it is expected to hit $71,386.

LITECOIN VS. BITCOIN, CONTINUED

Like most cryptocurrencies, Litecoin uses blockchain technology for processing and recording transactions.

While Litecoin is smaller, it is a quicker and cheaper alternative when compared to Bitcoin.

LITECOIN VS. BITCOIN

Litecoin, which was established in 2011 by Google engineer Charlie Lee, operates similarly to Bitcoin.

Mr Lee on occasions refers to Litecoin as the “silver to Bitcoin’s gold.”

The two cryptocurrencies act similarly in how their global payment operations are set up. Both are not controlled by financial institutions.

WILL LITECOIN HIT $500? CONTINUED

Odds are this helped give Litecoin a boost as well.

In 12 months’ time, the price of Litecoin could exceed $255, according to Wallet Investor.

But near the end of 2026, Wallet Investor sees Litecoin exceeding $557.

WILL LITECOIN HIT $500? 

Litecoin exploded to $412.96 in early – the closest it has ever gotten to the $500 mark.

Now, however, Litecoin trades at $174.90. In the past 24 hours, Litcoin has risen 3%.

While China has banned all cryptocurrency transactions, big brother Bitcoin has gained on recent favorable news coming from the U.S.

WHAT IS LITECOIN?

As the name indicates, the cryptocurrency is small.

But Litecoin, which was established in 2011 by Google engineer Charlie Lee, operates similarly to Bitcoin.

Mr Lee on occasions refers to Litecoin as the “silver to Bitcoin’s gold.”

The two cryptocurrencies act similarly in how their global payment operations are set up. Both are not controlled by financial institutions.

ALEXIS OHANIAN ON CO-FOUNDER OF ETHEREUM, VITALIK BUTERIN, CONCLUSION

“I’ve never been more excited about the potential of the Internet,” Ohanian added.

“And that’s largely thanks to Vitalik Buterin.”

Buterin is the co-founder of Ethereum and also co-founded Bitcoin Magazine in 2011.

ALEXIS OHANIAN ON CO-FOUNDER OF ETHEREUM, VITALIK BUTERIN, CONTINUED

“No one person could’ve possibly come up with all of the uses for Ethereum, but it did take one person’s idea to get it started,” Ohanian added about Buterin.

“From there, a new world has opened up, and given rise to new ways of leveraging blockchain technology—some of which I’ve invested in.”

“Whether it’s startups like Sorare reinventing fantasy sports or Rainbow users showing off their NFT collections, none of this would’ve existed without Vitalik’s creation.”

ALEXIS OHANIAN ON CO-FOUNDER OF ETHEREUM, VITALIK BUTERIN

“Thanks to Reddit’s r/Ethereum community, I’ve had the privilege of following Vitalik Buterin’s career from early on, which is why I’ve taken a certain pride in watching his legacy grow,” Ohanian wrote of the programmer.

“Sure, we can talk about the value he’s created as the platform’s co-founder, including Ethereum’s impressive market cap of around $400 billion, the dazzling world of decentralized apps and this year’s boom in the trading of NFTs.”

“What makes Vitalik so special, though, is that he is a builder’s builder.”

ONE OF THE CO-FOUNDERS OF ETHEREUM NAMED A TIME 100 MOST INFLUENTIAL PERSON

One of the co-founders of Ethereum, Vitalik Buterin, was named one of Time magazine’s 100 Most Influential People of 2021.

Former executive chair of Reddit Alexis Ohanian praised him in a write-up for the piece.

MESUT OZIL RELEASING HIS OWN CRYPTOCURRENCY, CONTINUED

Fans who purchase it can trade it the same as Bitcoin and also get discounts on his gear plus there will also be opportunities to meet him.

Ozil is following in the footsteps of fellow footy stars Keisuke Honda and James Rodriguez by venturing into cryptocurrency.

IS MESUT OZIL RELEASING HIS OWN CRYPTOCURRENCY?

Former Arsenal star Mesut Ozil will launch his own cryptocurrency this week.

The 32-year-old playmaker, who left the Emirates for Fenerbahce in January, is expanding his M10 brand by creating a digital coin.

SunSport understands he will officially launch his cryptocurrency over the coming days.

CHINA PREVIOUSLY SHUT DOWN CRYPTO EXCHANGES, PART TWO

While crypto creation and trading have been illegal in China since 2019, further crackdowns this year by Beijing warned banks to halt related transactions and closed much of the country’s vast network of bitcoin miners.

Thursday’s statement by the central bank sent the strongest yet signal that China is closed to crypto.

CHINA PREVIOUSLY SHUT DOWN CRYPTO EXCHANGES

It’s not Beijing’s first move against digital currency – in 2017, China shut down its local cryptocurrency exchanges.

Despite the war on crypto, Chinese mines power nearly 80 percent of the global trade in cryptocurrencies.

CHINA’S CRACKDOWN ON CRYPTO IS ‘BIG OPPORTUNITY’ FOR US

China’s crackdown on cryptocurrency transactions “is a big opportunity for the U.S.”, according to Pat Toomey, the top Republican on the Senate Banking Committee.

This comes as the US Securities and Exchange Commission lobbied for more regulations when it comes to cryptocurrency.

JAILED BITCOIN MINER WAS ‘ACTING OUT OF GREED’

Singh was sentenced to 13 months and two weeks in prison in a UK first.

Andrew Baxter of the CPS said: “This is a highly unusual case.”

“The overwhelming majority of times we see offenses of abstracting electricity, they are to support other criminal activities such as growing cannabis.”

“Bitcoin mining is a legitimate legal enterprise. Sanjay Singh was simply acting out of greed.”

BITCOIN MINER JAILED, CONTINUED

The Crown Prosecution Service explained Singh’s activities were first detected when a power provider investigated a fault at a substation caused by the cryptocurrency mining overloading the system.

The CPS released details of the case and said an inspection of Singh’s premises showed he had tampered with the wiring to run over 200 devices.

Investigations suggested he had cheated the power provider out of tens out thousands of pounds of electricity.

Singh went on to commit the same offence at the nightclub in Loughborough while the first offense was still under investigation.

Singh was charged with two counts of abstracting electricity and pleaded guilty to both offences.

BITCOIN MINER JAILED

A bitcoin miner has been jailed after he was caught stealing electricity in a sketchy cryptocurrency scam in the United Kingdom.

Sanjay Singh, 40, admitted “abstracting” electricity worth up to £32,000 at two locations where he operated bitcoin mining machines, Leicester Crown Court heard.

The first loaction was in an industrial unit in Coalville and the other was in Firefly nightclub in Loughborough.

The second had been closed for the summer holidays.

EXPERT COMMENTS ON TETHER’S VALUE

Despite its claim to be a stablecoin, Tether has still witnessed spikes and sharp falls in price, Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown, noted in May.

She told The Sun: “It has also been criticised for a lack of transparency, has had to settle US lawsuits and trading in the currency is banned in the state of New York.”

WHAT IS TETHER?

The Tether cryptocurrency, which is also known as USDT, was officially launched as Realcoin in 2014, but has since changed its name.

It’s described as a “stablecoin”, which is a type of cryptocurrency that aims to keep crypto values stable.

Tether aims to do this by pegging the price to a regular “fiat” currency, like US dollars, Euros or the Chinese yuan.

Tether claims to keep values steady by holding reserves in that currency in a bank.

WHAT IS NUCYPHER? CONTINUED

This allows users to share private data with a number of others in a secure way.

Holders of its token NU can stake their tokens through the network to run a node, which is responsible for creating and sending information.  

Interestingly, NuCypher token is an ERC-20, which means it is built on Ethereum.

WHAT IS NUCYPHER?

NuCypher was founded by Michael Egorov MacLane Wilkison in 2015, but it wasn’t until 2019 when the public testnet for NuCypher’s network launched.

NuCypher specifically operates as a decentralized key management system that uses blockchain technology.

NUCYPHER

On Friday, NuCypher at one point exploded more than 1,100% to hit a new all-time high of $3.5819.

The gains cooled off a bit as of Friday morning, but the cryptocurrency was still up 400% at $1.52, according to CoinMarketCap.

HOW VALUABLE IS THE CRYPTO ECONOMY NOW?

The crypto economy is approaching $3trillion in value.

This week, the crypto economy became worth more than Apple, and bitcoin became the sixth most valuable asset in the world.