During the last cryptolunch of this week, we naturally look at the live Bitcoin price and the prices of the top 25 crypto. We see a decline and that’s not surprising. For example, Bitcoin is under fire from the ECB and there is bad news about Altcoins and Mozilla Firefox is banning the BTC.
We begin, of course, with the live Bitcoin price and the prices of the top 25 crypto coins.
Live Bitcoin price and prices top 25 crypto drop again
At the time of writing, the live Bitcoin price is down 1.20% from yesterday. The current BTC price is EUR 37,342 ($ 42,246.26).
The prices of the top 25 crypto also continue to fall. Cosmos (ATOM) is the biggest exception that confirms the rule, as it is up 20.52% in 24 hours. Biggest faller is Solana (SOL) with 5.54%. Of course, on the site of Tradeincrypto.com you can view all live crypto prices 24 hours a day and thus also throughout the weekend.
ECB members hit out at Bitcoin, Mozilla Firefox also distances itself
The site VOXeu published a column this morning entitled “The Bitcoin challenge: How to tame a digital predator”. The piece was written in a personal capacity by 3 senior ECB officials. Anyone who reads the entire column reads a rock-hard attack on Bitcoin. The conclusion is that the sustainability is questionable and that the currency makes no positive contribution to society. They also hint at the idea that Bitcoin could be a pyramid scheme. Its function as a safe haven against inflation is also questioned.
The piece ends with a call not to approve initiatives that could strengthen Bitcoin’s position. Of course, the contribution is posted in the personal capacity of the gentlemen, but it seems hard to imagine the ECB being very positive against crypto in general and Bitcoin in particular when key officials have this negative view and share their recommendations on it.
Sustainability issues continue to plague BTC
After we previously saw Elon Musk ban Bitcoin because of environmental concerns and now the ECB is also pulling the sustainability card, Bitcoin’s sustainability seems to be becoming a structural problem. Mozilla (the organization behind the popular web browser Firefox) also experienced this. They announced earlier this week that they would accept donations in crypto.
This led to a wave of criticism about the environmental impact of crypto. Therefore, this morning, Mozilla pulled the pencil and distanced itself from accepting donations in crypto.
Twitter won’t load because you didn’t give permission.
In the spirit of open-source, this will be a transparent process and we’ll share regular updates.
We look forward to having this conversation and appreciate our community for bringing this to our attention. 4/4
– Mozilla (@mozilla) January 6, 2022
Incidentally, it wasn’t just bad news for Bitcoin. Those who think they can switch to other crypto currencies will be disappointed, according to Arthur Hayes.
Former BitMEX CEO foresees mega crypto crash
Arthur Hayes is the former CEO of Bitcoin exchange BitMEX. In response to yesterday’s cryptocurrency crash and the Fed’s minutes, he wrote an extensive opinion piece on the likely price development of crypto. His conclusion is nail-biting. All crypto are, according to him, capped at the value of either Bitcoin or Ethereum (depending on the purpose of the coin). In addition, they can react more strongly to volatility. He therefore foresees price drops of 75% to 90% for various crypto currencies. In short, as he puts it, chaos. We are curious to see what impact these bad reports will have on crypto prices and whether positive developments in the U.S. market can turn the tide.
Want to stay informed about the latest price developments?
You can always follow the developments yourself with our WANT crypto analyses or the background articles and previews on the crypto market and Bitcoin. Of course, you can also follow the live quotes 24 hours a day if you want to stay informed in real time. Are you interested in other investments besides crypto? Then our weekly price forecast might be a reading tip.
Note: We never give financial advice, so our contributions should not be interpreted as such. Always do your own research and decide rationally if, when, what and how much you want to invest in.