Daily Crypto News Feb 14, 2022: Top 3 crypto updates

In today’s crypto news, the latest reports published by JPMorgan, the long-term price of Bitcoin (BTC) is expected to reach $150,000. The current fair value of the same has been pegged at $38000 up from $35000 pegged last year. Although, the firm believes that there shall be some roadblocks for the asset as it moves forward. More on this crypto news is below. 

Intel announced on Friday that it has released a new Blockchain chip to tap the crypto boom. One of the first of its customers is Block Inc, the firm led by Jack Dorsey. This chip is expected to be shipped by the end of this year. 

While the Uber CEO is bullish on crypto but does not wish to include the same as a mode of payment in their application anytime soon. Although, the company looks forward to integrating this in the future the current environmental impact due to mining and high transaction fees from exchanges is what is stopping them now. Read more on this crypto news below. 

Quick Crypto News RoundUp!

Daily Crypto News  Feb 14, 2022

JP Morgan predicts that BTC’s long-term price may reach $150,000

According to the latest predictions made by JPMorgan the long-term price of Bitcoin (BTC) may reach $150,000 which is up from $146,000 that was predicted last year. The current fair value has been pegged at $38000. According to the latest Coinbase reports, the price of Bitcoin (BTC) has risen 17.35% in the past seven days. 

According to the reports from JPMorgan the currency is overvalued at 13%. The firm also says the biggest hindrance for Bitcoin as it moves forward is its volatility and the bust-and-boom cycles which will resist institutional adoptions. As of today, the volatility of Bitcoin is 4 times that of gold. The report also added that at this rate the total market value of Bitcoin should be at par with that of gold held privately for all investment purposes. 

Source: CNBC TV 

Intel launches Blockchain chip to tap Crypto Boom

It was on Friday that Intel Corp launched a new chip for various blockchain applications to cash in the surge in usage of cryptocurrencies. The chip will be shipped later this year and some of the first customers of this chip include, Block Inc, a firm led by Jack Dorsey. 

According to the claims made by Intel, the chip is energy-efficient and is designed such that it will speed up the blockchain tasks that currently require a great amount of computing power and hence, a lot of energy. The Chip designer Nvidia Corp, whose graphics cards are extensively used for mining activities also has its separate chip which is only meant for Ethereum mining. 

Source: NDTV.com 

Uber CEO says the app will eventually accept crypto as payment 

According to Uber’s chief executing officer, Dara Khosrowshahi, uber might accept cryptos someday in the future. It is likely to join the Microsoft corporation one day by accepting Bitcoin (BTC) as a mode of payment in its application. 

Although Uber plans to do this sometime in the future, currently the CEO does not think it’s the right time for the same. Some of the reasons for the company not to include the technology as of now in their application is the environmental impact of digital mining on the energy grid as well as the cost of exchanges that carry high transaction fees. 

Read: Top 10 metaverse cryptos by market capitalization 2022

Source: Hindustan Times 

Crypto Market Trend February 14, 2022

Here is a quick summary of the top crypto gainers and losers for the day. 

Top 3 Crypto Gainers 

*All prices are latest by 11:30 AM February 14, 2022.*

Top 3 Crypto Losers 

*All prices are latest by 11:30 AM February 14, 2022.*