Is Bitcoin going to race to $100,000... or is a crypto winter upon us? In this special episode, the last of the current series, Connor speaks to Molly Jane Zuckerman and Mike McGlone.
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CoinMarketRecap, hosted by Connor Sephton, aims to break down the week's crypto news in a fun and accessible way.
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What Will 2022 Bring for Crypto?
Ever since Bitcoin was created back in 2009, the world's biggest cryptocurrency has dependably followed four-year cycles. This led to 2013, 2017 and 2021 being very good years for BTC — while 2014 and 2018 brought rather nasty crypto winters. The question now is this: will 2022 follow suit?
CoinMarketCap's Molly Jane Zuckerman argues that awareness about Bitcoin has never been greater — with Elon Musk discussing it on Twitter, and El Salvador becoming the first country to adopt BTC as legal tender.
In our discussion, Molly Jane also wanted to focus on Facebook (now Meta) — and its continued development of Novi. Given how the digital wallet is now being trialed within WhatsApp across the U.S., she believes this tool could be crucial for the remittance economy.
Does Bitcoin Have an Advantage over the Stock Market?
Bloomberg Intelligence's senior commodity strategist Mike McGlone also joined us to discuss his predictions for the year ahead.
With the Federal Reserve preparing to tighten its belt — or "take away the punch bowl" as Mike puts it — what impact will this have on the markets?
In his 2022 outlook, Mike warned that BTC could face "initial headwinds" as the impact of interest rate rises is felt in the equity markets. However, he believes crypto has an all-important advantage because of how it has already endured two big corrections, while the S&P 500 hasn't fallen by more than 10% since the coronavirus pandemic began in March 2020.
Overall, Mike believes it's a question of time before Bitcoin's price rallies to $100,000 — and thinks that there's no reason why BTC should act any differently to how it has done over the past five to ten years.
Our attention then turns to so-called "Ethereum killers" — and whether ETH could suffer at the hands of Solana and Cardano. In his eyes, history proves that their significance may fade over time.
