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Bitcoin price updates – Cryptocurrency surge forecast as Dogecoin and Ethereum hit RECORD highs in ‘early sign of rally’

A SURGE in crytpo investment this week has led to Dogecoin and Ethereum reaching yet another all-time high.

Currently, Bitcoin is trading at around $56,000 and has seen steady gains in the last few days.

Dogecoin is up by nearly 20 per cent over the last 24 hours and by 60 per cent over the last week

And the incredible price surge of Ethereum has made its 27-year-old founder a BILLIONAIRE.

Vitalik Buterin now has at least $1 billion worth of the cryptocurrency in his main wallet – making him the world’s youngest crypto billionaire. Buterin spearheaded the launch of the Ethereum blockchain in 2015.

Ethereum’s cryptocurrency, ether, surged past $3,000 for the first time early Monday morning, marking a 325% rise since the beginning of this year.

Ethereum’s incredible rise came after three years of decline which saw it falling below $100 in April 2020 following a previous high of $1,200 in 2018. But over the past 12 months the currency has absolutely rocketed.

That said, as with all cryptocurrencies, there are no guarantees that any investments will make money and in many cases investors has lost absolutely everything they have put into the coins.

Read our cyptocurrency live blog below for the very latest updates…

  • AUCTION HOUSE SOTHEBY’S TO ACCEPT CRYPTOCURRENCY

    Sotheby’s announced today it would accept Bitcoin and Ethereum as payment for Banksy’s iconic artwork “Love is in the Air”.

    It is understood to be a first for a physical art auction and the latest in a growing list of mainstream companies to accept cryptocurrencies.

    The artwork is anticipated to fetch between $3 million to $5 million, and buyers have the option to pay in digital assets.

  • BEWARE OF CRYPTOCURRENCY SCAMS WHEN USING BLOCKCHAIN WALLETS

    Blockchain wallets – digital wallets that allow crypto owners to store and manage their cryptocurrencies – are being “commonly attacked” by scammers, says a report.

    There were nine blockchain wallet breaches recorded in the first three months of this year, says Atlas VPN.

    With there also being one blockchain wallet “scam event and two blackmail cases, in total, they cost victims approximately $19.3 million,” the site adds.

  • WHAT IS THE CRYPTOCURRENCY DOGECOIN?

    What is the cryptocurrency Dogecoin?
  • CAROLE BASKIN LAUNCHES CRYPTOCURRENCY (CONTINUED…)

    “I like the idea of putting the power of money in the hands of the people, rather than banks and governments,” she added in a statement posted to Big Cat Rescue’s website. 

    Baskin’s new cryptocurrency will allow fans to buy merchandise or online experiences from her Big Cat Rescue center in Florida from $5. 

    She claimed in a tweet that the new $CAT coin “is not a currency for investment.”

    Instead, she says it “is a purrency of our fans to show love for the cats” and will act as a fan token for supporters of her sanctuary. 

  • TIGER KING’S CAROLE BASKIN LAUNCHES $CAT COIN IN CRYPTO WAR WITH ELON MUSK AND DOGECOIN

    TIGER King’s Carole Baskin has described herself as “purring like a bobcat rolling in catnip” after launching her own $CAT coin to rival Elon Musk and Dogecoin. 

    Baskin launched the $CAT “purr-ency” on Tuesday as she voiced concerns about “the volume of US dollars that are being printed and distributed with nothing to back them up.” 

    Read more here.

  • ITALIAN SOCCER LEAGUE FINAL TO GET NFT COLLECTIBLES IN DEAL WITH CRYPTO FIRM

    Italy’s Serie A soccer league and Crypto.com have signed a deal whereby the cryptocurrency platform will release digital collectibles known as NFTs to commemorate the Coppa Italia final.

    The deal, which Serie A described on Thursday as the first of its kind for a soccer league, also includes a sponsorship element, with Hong Kong-based Crypto.com designated the “official cryptocurrency and NFT sponsor” of the final.

    The match between Cristiano Ronaldo’s Juventus and Atalanta is due to take place on May 19.

    “We are the first football league in the world to sign an agreement in this new market which is extremely innovative and relevant,” said Luigi De Siervo, chief executive of Serie A.

  • TRADING PLATFORMS WHICH LET YOU BUY AND SELL DOGECOIN

    Dogecoin’s latest surge in price has been put down to eToro now supporting the cryptocurrency.

    The trading platform will now let users buy and sell Dogecoin, alongside other cryptocurrencies and more mainstream investments like stocks and shares.

    Other trading platforms which let you buy and sell Dogecoin include Binance and Kraken. But you can’t buy and sell Dogecoin on all platforms which offer cryptocurrency trading.

    For instance, digital banking platform Revolut does not support Dogecoin, and Coinbase, the first cryptocurrency exchange to list on a stock exchange, does not support Dogecoin either.

    Paypal is rolling out the acceptance of cryptocurrencies using its payments platform – but Dogecoin is not one of the currencies supported.

  • DOW JONES LAUNCHES NEW CRYPTO INDEXES

    The S&P Dow Jones Indices launched new cryptocurrency indexes today, further mainstreaming digital currencies including Bitcoin and Ethereum by bringing them to the trading floors of Wall Street.

    The new indexes, S&P Bitcoin Index, S&P Ethereum Index and S&P Crypto Mega Cap Index, will measure the performance of digital assets tied to them.

    The list will expand to include additional coins later this year, the division of financial data provider S&P Global said.

    The company first announced the plan in December when it said it would cover more than 550 of top-traded coins and that its clients will be able to create customized indices and other benchmarking tools on cryptocurrencies.

  • TOP 10 CRYPTOCURRENCIES

    According to market share on CoinMarketCap, these are the top 10 cryptocurrencies right now, and their respective prices.

    Bitcoin ($56,364.43)
    Ethereum ($3,423.89)
    Binance Coin ($657.08)
    XRP ($1.48)
    Dogecoin ($0.4801)
    Tether ($1)
    Cardano ($1.34)
    Polkadot ($37.42)
    Uniswap ($42.40)
    Litecoin ($316.43)

  • CRYPTO MARKET REVENUE TO HIT $1.8BN BY 2027

    Cryptocurrency market revenue looks set to hit $1.8 billion by 2027m according to Global Market Insights.

    Its most recent report estimates it will cross the mark in just six years thanks to growing demand for digital assets and secure transactions, Yahoo Finance reports.

    EUROPE GARNERED MAX REVENUE IN GLOBAL CRYPTO MARKET IN 2020

    Europe garnered the maximum revenue in the global cryptocurrency market last year, a report has revealed.

    The Global Market Insights report also estimated the continent is likely to remain dominant throughout the forecast period, Yahoo Finance reports.

  • WHAT IS THE CRYPTOCURRENCY DOGECOIN?

    What is the cryptocurrency Dogecoin?
  • FIVE RISKS OF CRYPTO INVESTMENTS

    The Financial Conduct Authority (FCA) has warned people about the risks of investing in cryptocurrencies.

    • Consumer protection: Some investments advertising high returns based on cryptoassets may not be subject to regulation beyond anti-money laundering requirements. 
    • Price volatility: Significant price volatility in cryptoassets, combined with the inherent difficulties of valuing cryptoassets reliably, places consumers at a high risk of losses.
    • Product complexity: The complexity of some products and services relating to cryptoassets can make it hard for consumers to understand the risks. There is no guarantee that cryptoassets can be converted back into cash. Converting a cryptoasset back to cash depends on demand and supply existing in the market. 
    • Charges and fees: Consumers should consider the impact of fees and charges on their investment which may be more than those for regulated investment products.  
    • Marketing materials: Firms may overstate the returns of products or understate the risks involved.
  • EXPLAINED: WHY ARE CRYPTOCURRENCIES RISING?

    While lots of these virtual currencies are currently seeing massive price spikes, several experts are predicting a bubble which means prices could come crashing down at any minute.

    Price rises across the cryptocurrency world are being driven by several key factors.

    One major contributor was the direct listing of cryptocurrency exchange site Coinbase on the Nasdaq stock exchange.

    This historic float meant that people were talking about cryptocurrencies bringing lots of attention to the sector, and was linked to record-breaking Bitcoin prices.

    Another significant factor is that some mainstream businesses have said that they intend to start letting customers pay in some of the more well known virtual currencies.

  • ITALIAN SOCCER LEAGUE FINAL TO GET NFT COLLECTIBLES IN DEAL WITH CRYPTO FIRM

    Italy’s Serie A soccer league and Crypto.com have signed a deal whereby the cryptocurrency platform will release digital collectibles known as NFTs to commemorate the Coppa Italia final.

    The deal, which Serie A described on Thursday as the first of its kind for a soccer league, also includes a sponsorship element, with Hong Kong-based Crypto.com designated the “official cryptocurrency and NFT sponsor” of the final.

    The match between Cristiano Ronaldo’s Juventus and Atalanta is due to take place on May 19.

    “We are the first football league in the world to sign an agreement in this new market which is extremely innovative and relevant,” said Luigi De Siervo, chief executive of Serie A.

  • CAROLE BASKIN LAUNCHES CRYPTOCURRENCY (CONTINUED…)

    “I like the idea of putting the power of money in the hands of the people, rather than banks and governments,” she added in a statement posted to Big Cat Rescue’s website. 

    Baskin’s new cryptocurrency will allow fans to buy merchandise or online experiences from her Big Cat Rescue center in Florida from $5. 

    She claimed in a tweet that the new $CAT coin “is not a currency for investment.”

    Instead, she says it “is a purrency of our fans to show love for the cats” and will act as a fan token for supporters of her sanctuary. 

  • TIGER KING’S CAROLE BASKIN LAUNCHES $CAT COIN IN CRYPTO WAR WITH ELON MUSK AND DOGECOIN

    TIGER King’s Carole Baskin has described herself as “purring like a bobcat rolling in catnip” after launching her own $CAT coin to rival Elon Musk and Dogecoin. 

    Baskin launched the $CAT “purr-ency” on Tuesday as she voiced concerns about “the volume of US dollars that are being printed and distributed with nothing to back them up.” 

    Read more here.

  • WHAT IS BITCOIN?

    Bitcoin is a virtual currency that was created in 2009 by an unknown computer whizz using the alias Satoshi Nakamoto.

    Unlike physical currencies such as pounds, dollars or euros, which come in physical notes and coins, Bitcoin isn’t printed or minted.

    Instead, Bitcoin tokens are a digital-only form of payment and are created by a computer code.

    If you have invested in Bitcoin, you can set up a virtual wallet to store, keep track and spend your digital money.

    You are also able to purchase Bitcoin through an online exchange or Bitcoin ATM –  but not all businesses accept Bitcoin as a form of payment.

    You can use the Where To Spend Bitcoin UK website to find merchants that accept the currency.

  • MEXICAN CRYPTOCURRENCY TRADING PLATFORM BITSO RAISES $250MILLION

    Mexican fintech Bitso, a cryptocurrency trading platform, has raised $250 million, venture capital fund Cometa, an investor in Bitso, said on Wednesday.

    The resources raised represent 9% of Bitso, giving the firm an absolute valuation of about $2.2 billion, said a Cometa representative.

    “Bitso becomes the first fintech in Mexico to reach a valuation of more than $1.0 billion in the market,” said Cometa, also known as Variv Capital.

    The funds were raised in a so-called series C investment round.

    Bitso, with operations in Mexico, Argentina and Brazil, is developing other uses for cryptocurrencies, such as sending remittances, the investment fund added.

  • ETHEREUM REACHES ANOTHER ALL-TIME HIGH ON THURSDAY

    Ethereum has once again hit a new all-time high on Thursday, reaching above $3,500 for the first time in its history.

    The cryptocurrency’s price has now hit a new record on six of the last seven days, rising in price by more than 25 per cent in the process.

    A new market report by the cryptocurrency exchange Kraken suggests the rally may “still be in the early innings”, with gains still far short of the 2017 bull run in percentage terms.

    According to Kraken’s analysis, the price could be heading towards $5,200.

  • EXPLAINED: HOW TO SPOT CRYPTO SCAMS

    CRYPTO scams are popping up all over the internet. We explain how to spot them.

    • Promises of a high or guaranteed return – Does the offer look realistic? Scammers often attract money by making fake promises.
    • Heavy marketing and promotional offers – If they are using marketing tricks to con customers you should beware.
    • Unamed or non-existent team members – Just like any business you should be easily able to find out who is running it.
    • Check the whitepaper – Every crypto firm should have a white paper. This should explain how it plans to grow and make money. If this doesn’t make sense, then it could be because the founders are trying to confuse you.
    • Do your research – Check reviews online and Reddit threads to see what other people think. 
  • ITALIAN SOCCER LEAGUE FINAL TO GET NFT COLLECTIBLES IN DEAL WITH CRYPTO FIRM

    Italy’s Serie A soccer league and Crypto.com have signed a deal whereby the cryptocurrency platform will release digital collectibles known as NFTs to commemorate the Coppa Italia final.

    The deal, which Serie A described on Thursday as the first of its kind for a soccer league, also includes a sponsorship element, with Hong Kong-based Crypto.com designated the “official cryptocurrency and NFT sponsor” of the final.

    The match between Cristiano Ronaldo’s Juventus and Atalanta is due to take place on May 19.

    “We are the first football league in the world to sign an agreement in this new market which is extremely innovative and relevant,” said Luigi De Siervo, chief executive of Serie A.

  • FIVE RISKS OF CRYPTO INVESTMENTS

    The Financial Conduct Authority (FCA) has warned people about the risks of investing in cryptocurrencies.

    • Consumer protection: Some investments advertising high returns based on cryptoassets may not be subject to regulation beyond anti-money laundering requirements. 
    • Price volatility: Significant price volatility in cryptoassets, combined with the inherent difficulties of valuing cryptoassets reliably, places consumers at a high risk of losses.
    • Product complexity: The complexity of some products and services relating to cryptoassets can make it hard for consumers to understand the risks. There is no guarantee that cryptoassets can be converted back into cash. Converting a cryptoasset back to cash depends on demand and supply existing in the market. 
    • Charges and fees: Consumers should consider the impact of fees and charges on their investment which may be more than those for regulated investment products.  
    • Marketing materials: Firms may overstate the returns of products or understate the risks involved.
  • EXPLAINED: WHY ARE CRYPTOCURRENCIES RISING?

    While lots of these virtual currencies are currently seeing massive price spikes, several experts are predicting a bubble which means prices could come crashing down at any minute.

    Price rises across the cryptocurrency world are being driven by several key factors.

    One major contributor was the direct listing of cryptocurrency exchange site Coinbase on the Nasdaq stock exchange.

    This historic float meant that people were talking about cryptocurrencies bringing lots of attention to the sector, and was linked to record-breaking Bitcoin prices.

    Another significant factor is that some mainstream businesses have said that they intend to start letting customers pay in some of the more well known virtual currencies.

  • EXPLAINED: WHAT IS CAROLE BASKIN’S $CAT ‘ALTCOIN’?

    $CAT is a freshly minted “altcoin,” invented in 2008 as an alternative to Bitcoin.

    Baskin has launched the digital currency exclusively on Rally, an open network that enables creators to launch their own coins on the Ethereum blockchain.

    However, CoinTelegraph noted that Baskin appeared to have misunderstood differences between Bitcoin and altcoins.

    “At this point, both the USD and Bitcoin are fiat currencies, but at least Bitcoin and other altcoins have scarcity built in and now there is much more broad adoption of them in our everyday lives,” she had said.

  • CAROLE BASKIN LAUNCHES CRYPTOCURRENCY (CONTINUED…)

    “I like the idea of putting the power of money in the hands of the people, rather than banks and governments,” she added in a statement posted to Big Cat Rescue’s website. 

    Baskin’s new cryptocurrency will allow fans to buy merchandise or online experiences from her Big Cat Rescue center in Florida from $5. 

    She claimed in a tweet that the new $CAT coin “is not a currency for investment.”

    Instead, she says it “is a purrency of our fans to show love for the cats” and will act as a fan token for supporters of her sanctuary. 

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