Canadian project

Despite cryptocurrency markets dropping to multi-month lows, major cryptocurrencies like Bitcoin (BTC) and Ether (ETH) are likely to hit new all-time highs in 2022, according to a Bloomberg analyst.

BTC and ETH will be heading toward $100,000 and $5,000 this year, respectively, according to a forecast by Bloomberg Intelligence analyst Mike McGlone published in his latest market analysis on Thursday.

Bitcoin Foundation chairman and billionaire investor Brock Pierce says that one catalyst could take Bitcoin’s price to $200K this year.

Speaking in a recent interview with Fox Business, Pierce said that he was mostly focused on external influences shaping the price of Bitcoin and the crypto markets. He alluded to governments around the world printing a “massive amount of currencies” and the continued impact it would have on inflation as one particular price driver.

According to Pierce, the price volatility of Bitcoin offers outsized returns for investors and could continue to serve as a catalyst for the digital asset’s price growth.

American fintech giant PayPal (NASDAQ:PYPL) Holdings has reportedly confirmed its intent to launch its own stablecoin named PayPal Coin. The development of an in-house stablecoin was first discovered in the source code of Paypal’s iPhone app by developer Steve Moser.

Confirming the evidence found on the PayPal app, Jose Fernandez da Ponte, PayPal’s SVP of crypto and digital currencies, told Bloomberg News:

PayPal Coin logo found inside of PayPal app. Source: PayPal iPhone app