© Reuters.
Investing.com – The, the, and the took partially different directions on Tuesday, January 11, 2022. Le rose 0.38% to $ 41,981, while Ether fell -1.20% to $ 3,106.7 and yields -3.36% to 136.45 dollars.
Will bitcoin do better than the stock market in 2022?
Bloomberg analyst Mike McGlone maintains his prediction that bitcoin will hit the $ 100,000 mark this year. The Fed’s rate hikes will not change anything, quite the contrary, according to him:
“The prospect of Fed rate hikes in 2022 could create a win-win scenario for bitcoin versus the equity market.”
The stock markets are highly overvalued and these funds are transferred to other assets. Bitcoin, as an increasingly important reserve asset, could be a major beneficiary, McGlone speculates:
“One of the reasons for the reduction in liquidity is that the S&P 500 has never been so above its 60-month moving average in more than two decades.”
Ethereum soon on the dock?
Originally, the Ether community assumed that ETH was not a security. The basis was the 2018 statement by former SEC chairman William Hinman that blockchain was decentralized enough not to be considered a security.
The new chairman of the SEC, Gary Gensler, is not so categorical. During an interview on CNBC, he was asked what the status of Ethereum is and he replied:
“We will not go to these kinds of public events to talk about a particular project or a possible circumstance, or to give legal advice on air in that way.”
A statement that leaves a lot of room for speculation. His subsequent statement, however, should be taken as a warning.
“When funds are raised from the public and the public expects a profit based on the efforts of the promoter, sponsor or group, it falls under securities laws.”
As of December 2020, has been on trial after the SEC sued him for $ 1.3 billion. Is Etherum now in danger of suffering a similar fate?
The Solana Bridge contains a security loophole
Interoperability between blockchains is enjoying increasing popularity, but the technology behind it also has its drawbacks.
Ethereum founder Vitalik Buterin explained the problem using the Solana-Ethereum bridge :
“An attacker could for example pour his own Ethereum (ETH) into an Ether bridge to obtain Wrapped Ethers (WETH) from Solana. If he then rolls back this transaction on the Ethereum site as soon as it has been confirmed by the Solana site , this would result in catastrophic losses for other users. As the wrapped tokens are no longer covered by the original tokens in a ratio of 1: 1 “.
By Marco Oehrl
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