Bitcoin’s volatility has continued into 2022 as the cryptocurrency’s value surges. This comes just a week after it experienced the longest continuous decline since 2018 in the first week of January, with market analysts warning that a severe sell-off could take place take place if it falls below £40,000. The surge comes as inflation in the US rose by seven percent over the past year, the fastest it has risen in nearly 40 years.
The weakening value of the dollar is seen as one of the leading reasons why investors are looking to place funds in the cryptocurrency, which is often referred to as “digital gold” due to its finite supply.
While Bitcoin has many backers, Carol Alexander of Sussex University tells Express.co.uk that it will fail.
She believes Web 3.0, the third version of the internet that experts claim will incorporate decentralisation based on blockchains, will favour cryptocurrencies Ether, DOT, ADA and SOL.
Ether, DOT, ADA and SOL are traded on the Ethereum, Polkadot, Cardano and Solana blockchains respectively.
Prof Alexander said: “Web 3.0 is here now, and it’s…
