This week we watched as the [Bitcoin](/coins/btc) price [crashed to its lowest level in almost a year](https://www.cbsnews.com/news/bitcoin-price-down-high-cryptocurrency/), infamously going along with the stock market plunge.

This, however, isn't unexpected and can be attributed to the Federal Reserve's tightening its grip on the overall economy. Last week, Fed Chairman Jerome Powell stated the central bank accepted a half-percentage-point interest rate rise in an attempt to restrain inflation that reached its record heights in the last 40 years.

Constant rising inflation, paired with a heavy growth of the interest rates, creates one of the most significant short-term dangers for the American economy. The Fed also cautioned that the Russia-Ukraine conflict could represent a dangerous threat to the country's financial stability.

The central bank said that more 'adverse surprises' in interest rates and inflation could affect the financial system negatively, especially if they are accompanied by economic activity declining.

The rest of the algorithm is pretty clear - as the Fed raises rates, the U.S. Dollar Index became the strongest in the last 20 years.

The Crypto community is not happy with the Fed's supremacy over the digital currency markets. Bitcoin's price crashed by 17% in April - the worst monthly performance this year. The biggest cryptocurrency by its market cap completed six consecutive red weekly candles, a phenomenon that hasn't happened since 2014.

However, solace of a kind is found in the fact that crypto prices are following equities, especially tech stocks. This means that the fall isn't the direct result of investors not believing in crypto. Still, it shows that Bitcoin is still not considered a hedge against inflation.

## Fears of Crypto Winter

Analysts argue about what could happen next. Some are afraid of repeating the crypto winter 2018, while others claim the crypto sector is in a better condition now than it was four years ago.

Still, the geopolitical situation is far from ideal. Last year was marked by a COVID pandemic that boosted virtual finance and resulted in altcoins jumping more than 5,000%. This year, we are witnessing an exodus from the crypto market.

At the time of writing, Bitcoin was trading at more than 40% lower than its all-time high. It won't be easy to HODL and many will be tempted to sell. 

However, to sell a loss, you're limiting yourself from profiting.

The Fed may be a big deal, but it isn't the only regulator of the digital currency market. The whole sector is still in diapers and we're still waiting for it to be regulated.

## Crypto Not Losing Its Grip

Be that as it may, we doubt the crypto market will lose its grip. However, some investors may reallocate from Bitcoin or gold to the dollar in the short term. Still, it is believed that Bitcoin will still be guided mainly by basic factors, such as an increase in users and network usage.

On the other hand, Bitcoin bulls will most probably take advantage of the Fed's move and, almost regardless of price, buy the dip.



 Bitcoin Price Crash After Fed Raises Rates

If you want to know the best cryptocurrency to invest in, should you really ask a celebrity?

The popularity of cryptocurrencies has seen many celebrities embrace them. Some celebrities choose only to promote the coins, while others have taken the bold step of investing in the coins.

Matt Damon, Reese Witherspoon, and Kim Kardashian are a few celebrities promoting different cryptocurrencies. Floyd Mayweather, Kanye West, and Paris Hilton are some celebrities who have already invested in various cryptocurrencies.

## Celebrities in the Crypto Market

Celebrities, like everyone, are allowed to invest in whichever asset they wish. However, their involvement in the crypto space has solicited different reactions from different people.

Some people believe celebrities’ involvement in the crypto market is good. They can help grow the market by influencing people to join it. 

Other people look at celebrities in the crypto space as bad, especially those only promoting the coins and not investing in them.

Using their popularity and influence, celebs and social media influencers can easily mislead their fans into investing in the wrong cryptocurrency.

For example, [according to a lawsuit filed in California](https://www.cbsnews.com/news/cryptocurrency-kim-kardashian-celebrity-pump-dump-lawsuit/#:~:text=Celebrities%20Kim%20Kardashian%2C%20former%20NBA%20star%20Paul%20Pierce,for%20themselves%2C%20a%20lawsuit%20filed%20in%20California%20alleges.), Kim Kardashian, Floyd Mayweather, and former NBA star Paul Piece are celebrities accused of using their fame to promote a little-known cryptocurrency called EthereumMax as part of a large scheme to defraud investors while profiting.

## Celebrities Influencing Crypto Investment

Elon Musk is known for influencing the crypto market with a single tweet. He is best known for influencing the price movements of [Dogecoin](/coins/doge) and [Bitcoin](/coins/btc).

He tweeted on February 4, 2021: "Dogecoin is the people's crypto". The tweet increased Dogecoin's price by 10% within an hour and 50% within a day.

On April 28, 2021, Elon tweeted: "The Dogefather." The tweet, alongside the endorsement of billionaire investor Mark Cuban, increased Dogecoin prices by 30%.

In the case of Bitcoin, in March 2021, Elon tweeted: "You can now buy a Tesla with Bitcoin". The tweet enabled Bitcoin to reach nearly $65,000 within a month. In June 2021, Elon tweeted that he had fallen out of love with Bitcoin. The tweet sent Bitcoin price plummeting by 4%.

Even in 2022, Elon Musk's tweets continue to affect the crypto market. Because of his influence, many people await his tweets to make crypto investment moves.

Gwyneth Paltrow, Paris Hilton, Mike Tyson, and Tom Brady are other celebrities who have tweeted promoting various cryptocurrencies.

## Fake Celebrity Endorsement

Scammers have also taken advantage of the increase of celebrities in the crypto market. Some scammers use celebrity images and names to promote fake coins to unsuspecting people.

Before clicking on that pop-up ad, it's always best to do further research to know if the celebrity on the ad promotes the cryptocurrency or crypto platform.

Facebook is currently in trouble for allowing fake celebrity endorsement posts using pictures of TV stars to promote crypto scams. A lawsuit against Meta, Facebook's parent company, claims the company was aware of the fake ads but didn't take any action.

## Conclusion

Celebrity involvement in the crypto space has its pros and cons. However, a celebrity endorsement of a particular cryptocurrency should never be why you invest in the coin. The best cryptocurrency for you to choose to invest in is one you've researched and are confident about.
 
 
 
 
 



Best Cryptocurrency to Invest In?

It is time to take a serious look at Fantom crypto.

Since the inception of blockchain technology, we have seen many players come and go. We have also seen some new platforms come and make a name for themselves as the go-to blockchain service for many businesses, developers, organisations, governments, users, and, ultimately, projects alike.

These were platforms that started small and then blew up because the market loved what they had to offer.

Naturally, the uses and applications of a blockchain can either be limited or innumerable. However, as we all know, it is a numbers game, and Fantom has proven to us why its deserves its seat at the table.

Casually, anyone can mention that the most popular blockchains right now are [Ethereum](/coins/eth), Solana, and Polygon - assuming this was early 2021.

That changed later in '21 when the crypto market gave rise to the price of the Fantom token, aka FTM, sending it to as high as almost $2!

One may say $2 per token is such a small amount, but, in reality, it says that this asset has every right to say "to the moon". This is especially so since its three billion tokens in circulation are just about six times more than the 510 million Solana tokens in circulation.

If you draw a table and compare both blockchains and their tokens, you may find very little to disqualify Fantom.

The question now becomes: What is Fantom and why is their token so valuable at such an early stage?

FTM is valuable because Fantom is a web3 playground. Anyone who understands web3 knows that it is an entire ecosystem of decentralized exchanges, Defi, NFTs, the metaverse, cross-chain bridges, tools, lending and financing, and, most importantly, wallets. The fascinating thing here is that Fantom is supported on popular platforms you may know.

## Let’s take a look at a few of them:

•	DEXs: [Sushiswap](https://app.sushi.com/swap), CurveFi
•	Bridges: Everbridge, Multichain
•	Lending & financing: Alpaca finance, Tarot
•	NFTs: Paintswap, NFTKEY
•	Tools: 0x, Nansen
•	Wallets: Metamask, Coinbase

Consequently, the reward for involvement and participation in the web3 space is massive adoption. Building for web3, building inclusive products, and building an inclusive ecosystem are something the most successful blockchains right now all have in common. They understand that the needs of the people come first, and the only way to gain relevance that lasts is to build infrastructure that allows others to function efficiently and scale.

This is what makes FTM such a sought-after token by crypto HODLers and traders worldwide. Not just because its blockchain makes transactions super fast, but mostly because it makes DeFi seamlessly easy to use. This is due to their highly efficient smart contracts that have been integrated with platforms like Chainlink, Band Protocol, and Covalent, to mention a few.

What makes Fantom such a typical web3 playground is in its nature; the very features, integrations, and use cases that are visible with robust players like Ethereum and Solana, are also clearly identifiable in Fantom.

It is little wonder that the FTM coin has seen massive adoption in recent months, with many speculating that it may reach and probably surpass the $4 mark by the end of 2022.
 



Fantom Crypto is Becoming a Web3 Playground

Bitcoin saw more than 19 million coins of the 21 million maximum supply in circulation at the beginning of April 2022. This has made it easy for miners to answer the question, 'how many [Bitcoins](/coins/btc) are out there to mine?'.

Bitcoin is the most popular digital asset, and the largest by market capitalisation.

## What happened?

On April 1, 2022, SBI Crypto mined the 19th million block, which was termed '730002'. As of writing, BTC's circulating supply was 19,017,800. This milestone has sent waves across the crypto finance market, with many novices or beginner traders asking how many Bitcoins there are. When Satoshi Nakamoto created Bitcoin in 2009, he released a maximum supply of 21 million BTCs.

## Why is it important?

Fewer than 2 million BTCs are left to be mined. This provides closure to investors and miners that want to know how many Bitcoins are there now.

Bitcoin is involved in millions of transactions daily.

Although it would take until the year 2140 before the last BTC is mined, the attribute of scarcity has started trending across social media and search engines (DuckDuckGo, Bing, Yahoo Search, and Google).

Since scarcity is an attribute that confers value on a currency, in addition to durability, non-counterfeitability, utility, divisibility, and transferability, many stakeholders of the crypto finance space have started making bullish forecasts about the digital gold.

Among them is New York-based certified public accountant Kate Waltman, who specialises in crypto and predicted a $100,000 valuation for BTC in 2022.

Jurrien Timmer, the global macro director at [Fidelity Investments](https://www.fidelity.com/go/join-fidelity-investments?imm_pid=700000001009130&immid=100742&imm_eid=ep6546361576&msclkid=689d26d656f11e95ca4344ac6e1e3c35), projects BTC could reach $100,000 in 2022.

Bitcoin could command the least possible price of $100,000 and the best possible price of $150,000 by the close of 2022, per the analysis of Ian Ballina, the founder of Token Metrics (a crypto research and media company).

Blockchain data analyst Matthew Hyland foresees BTC reaching the $100,000 price milestone in 2022.

The chief executive officer of Parallax Digital (digital assets marketing and consulting firm), Robert Breedlove, believes BTC has the potential to reach $12.5 million in 2031.

## Bitcoin’s driving factors that could lead to a rally in 2022

As of writing, there are more than 19,000 cryptos on the market. Since BTC is the first blockchain-backed cryptocurrency, it is not surprising to come across questions such as how many types of Bitcoins are there.

There is one Bitcoin and its price patterns affect other tokens, which are collectively called alternate coins (altcoins).

Although Bitcoin is a primary driver of the price of thousands of coins, these drivers need to kick in for experts' valuations to come to fruition in 2022.

The aura of scarcity will undoubtedly throw more liquidity into Bitcoin. In addition to this, mainstream adoption of Bitcoin will play an invaluable role in the token’s valuation. What’s more, the improvement of Bitcoin’s ecosystem with the triggering of the Taproot upgrade in November 2021 could see more decentralized applications and protocols (dApps) add more weight to the token.

With the clampdown on mining rigs by China and India, Bitcoin will thrive in more mining-friendly countries so that more coins will be added into circulation.

You should not forget that as proof-of-work (POW) networks, Ethereum mining revenue beat Bitcoin in the first quarter of 2022.
Lastly, Bitcoin could reach new milestones if favorable regulations are implemented.

Billions of people still consider BTC as a coin that is involved in dark web activities due to its appearance in several cybersecurity reports.

Once BTC gains the backing of major economies globally, it would be easy for the token to spike and reach new high highs.

As of writing, BTC still trades in a bearish cycle and needs whales/institutional investors to push its price to new milestones.

## Frequently Asked Questions 

### How many Bitcoins are available? 

There are 1,892,200 BTCs left to be mined as of April 21, 2022.

### How many Bitcoins are there in total?

There are 21 million BTCs in maximum supply.

### How many Bitcoins were there in 2010?

The first block was mined on January 9, 2009, and consisted of 50 Bitcoins. By the end of 2010, there were approximately 3,396,000 BTC mined.


How many Bitcoins are there? Just 9% left!

Where did Elongate crypto come from? If you use Twitter often, you will notice that meme coins gained a rise in public attention, which gave rise to more meme coins coming out.

## The cause: Elon Musk and his love for Dogecoin.

The [Tesla](https://www.tesla.com/) and [SpaceX](https://www.spacex.com/) billionaire frequently shared his thoughts, memes, and use cases for [Dogecoin](/coins/doge) and the Shiba Inu coin. This allowed the billionaire to elevate meme coins to more than just internet and crypto jokes, telling the world that they can be used for purchasing really valuable things, like a Tesla.

Now, Elon Musk's service to the crypto and meme coin community inspired a certain Lorenzo Andree to startup the Elongate coin with a group of others, following a tweet the Tesla founder made in March 2021.

The rest, as they say, is history. Elongate has long moved on into being a project with a purpose; aiming to fight world hunger and climate change, which frankly is an incredibly idealistic approach to giving a crypto project relevance, especially when you place it in comparison with the likes of Bonfire [attach link to the Bonfire article here].

Since launching in March of 2021, it has donated more than 60% of its periodic profits to charitable causes, all of which are voted on by the decentralised autonomous community.

Even without much poking into the mode of operations for Elongate, one can tell that the coin has found great use cases. It has slowly become a model figure for successful meme coins in the crypto community.

Powered by the Binance Smart Chain, it makes a profit on its coin by taking a percentage of transactions carried out as fees, using it to reward holders, storing 60% of it, and then voting on what charitable causes get to enjoy the goodwill of crypto people.

This has made individuals who trade the coin feel a sense of attachment, knowing that the cost of doing business with that coin is going into a charitable cause somewhere in the world.

With more than 400,000 holders, even though the coin is worth a fraction of a cent, we see there is tremendous potential.

If you take a look at this prediction by Digitalcoin and place it side by side with the work they are doing plus the way they operate and the blockchain they are built on, you will see that in the nearest decade, it could be one of the most valuable coins around in the crypto market.

While many may be skeptical about its inception, growth, current market value, and future, it is worth noting that nothing is really ever a joke when a purpose is given to it in the crypto space. Citing the initial example of Dogecoins and Tesla's, one can begin to see possibilities in how crypto can not just be a part of our lives outside the internet, but also significantly impact it.


Elongate Crypto: When a Meme's Not a Joke

One of the many interesting cryptocurrencies of 2021 is the [Bonfire](https://www.bonfiretoken.co/?msclkid=21aaad61cf7b11ec9aeae11e9f428941) crypto token which launched in May 2021 and caused a good portion of the trading market to go into a frenzy.

Everyone wanted a piece of the token and, within a week of hitting the market, daily trading volumes were averaging $75 million. It was so successful that all who had their bets on Bonfire were sure that this coin would be the next big thing.

Reality came crashing down a few months into the year when Bonfire burnt through well over 90% of its market value and sent the price of its token plummeting into the depths of the crypto abyss.

Typically, this means all who believe in the token do what they can to bring it back to life and campaign for its growth and rise back to fame. That wasn't the case; everyone moved on and now daily trading volumes barely make it past $500,000.

## The Coin

The question then became what went wrong?

The red flags were there, but many were much more concerned with the brand purpose of Bonfire. It is a bit irresistible not to invest in a project that claims they are on a mission to educate people about the gospel of blockchain technology. This is especially the case when the tokens are numbered one quadrillion!

While this looks like it's a good thing, it eventually showed that it wasn't because basic economics has it that scarcity or limited availability of a commodity determines its value because a constrained environment will allow demand and supply to work their magic.

The result of not adhering to this principle is why the Bonfire token is worth a fraction of 1 cent today.

## The Myth

There have been many community engagement and marketing tactics employed by different crypto projects, and more will be devised and implemented. However, the approach used by Bonfire is as ingenious as it is interesting: their Reddit group features a set of "chores" newcomers must do. These tasks involve following them on social media handles and doing simple tasks like searching "bonfire" or "bonfire crypto" on search engines and YouTube, thus building a digital reputation by hacking through organic search volume to seem legit.

## The Flame

What really stands out is how easily everyone moved on. Projects rarely see increases of 1,700% in their lifetime, let alone in less than a month after launch. It seemed revolutionary, until it didn't anymore. The large, inferno-like flames of the Bonfire token trading $75 million daily were reduced to mere candle flickers of $500,000.

Despite this, the Bonfire project is still going strong with its claims of advocating for blockchain education to reinforce the value of the token and brand altogether.

Finally, a feature of Bonfire that really is interesting is the decentralised autonomous organization that has voting rights to how the project operates and what directions it should take.

This may be a step in the right direction, but will they bounce back stronger and compete with the likes of [Safemoon](/news/article/safemoon-crypto), charging towards global adoption and fandom? Only time will tell.
 



Latest Moni

Crypto Coin News | Page 18

Read the latest crypto coin news.

Bitcoin Price Crash After Fed Raises Rates

Best Cryptocurrency to Invest In?

Fantom Crypto is Becoming a Web3 Playground

How many Bitcoins are there? Just 9% left!

Elongate Crypto: When a Meme's Not a Joke

Bonfire Crypto: The Coin, The Myth, The Flame

Zipmex Gets 3-Month Creditor Protection

Reddit Crypto Exchange Partnership with FTX

Polkadot blockchain and altcoin explained