Crypto price live: Ethereum and cardano hit record highs as bitcoin and dogecoin settle

A Goldman Sachs executive has reportedly made a fortune from dogecoin and quit his job.

First reported by Efinancialcareers, Aziz McMahon left his role as head of emerging market sales at the in banking giant thanks to a fruitful investment in the meme-based currency.

Dogecoin may have suffered a slight dip since Elon Musk propelled it to new heights over the weekend, but it is still up 1,000 per cent since the start of 2021.

We’ve got some analysis on what’s actually going on with dogecoin’s price right here:

The price of ethereum has once again hit a new all-time high on Wednesday, reaching above $4,360 according to CoinMarketCap.

The latest record comes after a new report suggested that the cryptocurrency is still “highly undervalued” and could still quintuple in price over the next four years.

When asked whether now is the best time to buy, sell or hold, the majority of a panel of academics and market analysts responded that despite the huge profits it remains a good buying opportunity.

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A senior figure at a leading hedge fund has predicted that the price of bitcoin is heading to $250,000 by 2025.

“It’s just about network adoption and increased usage. This is a network and networks grow in an exponential way. This is the fastest network in history to a trillion dollars of value,” Mark Yusko, chief investment officer of the hedge fund Morgan Creek Capital Management, told CNBC.

It may sound bullish but his prediction is actually relatively conservative compared to a recent pool of experts, whose average guess was that bitcoin would hit $360,000 in the same time.

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Mark Zuckerberg has shared a photo of his two goats on Facebook, revealing that one of them is named Bitcoin.

The other is named Max – the same name as his daughter – so presumably he’s named them after things he loves.

It’s not clear whether the world’s fifth richest person actually holds any crypto, though as the CEO of Facebook he oversaw the failed Libra cryptocurrency.

Zuckerberg first detailed his interest in cryptocurrency and blockchain technology more broadly in his 2018 mission statement, posted to Facebook.

“There are important counter-trends to this — like encryption and cryptocurrency — that take power from centralized systems and put it back into people’s hands,” he wrote. “But they come with the risk of being harder to control. I’m interested to go deeper and study the positive and negative aspects of these technologies, and how best to use them in our services.”

A day after promising to launch dogecoin into space with the Doge-1 SpaceX mission, Elon Musk is once again helping drive up the price with his tweets – this time through Tesla.

The meme-loving magnate posted an online poll to Twitter asking his 53 million followers whether the electric car maker should begin accepting payments in dogecoin.

Nearly 2 million people have voted already, with more than three quarters of respondents saying that Tesla should accept dogecoin. It wouldn’t such a big jump, you’d imagine, given that they already sell cars in exchange for bitcoin.

You can read the full story here:

Andrew Bailey, governor of the Bank of England, has made his feelings on cryptocurrencies very clear.

““They have no intrinsic value. That doesn’t mean to say people don’t put value on them, because they can have extrinsic value. But they have no intrinsic value,” Bailey said.

“I’m going to say this very bluntly again,” he continued, “buy them only if you’re prepared to lose all your money.”

Mr Musk has replied to a fan who seemed to praise his hype of Dogecoin, agreeing with the take.

“That is how I feel about it,” Mr Musk wrote in reply. (It’s not clear whether he was referring to the tweet, image, or both.)

While still staying as positive as ever, Elon Musk has interestingly tweeted that people need to “invest with caution” in cryptocurrency.

Dogecoin’s latest gains look even more remarkable when zooming out on its price chart.

Since May 2020 the cryptocurrency has risen from just over two tenths of a cent to more than 60 cents, as this graph shows.

It is also nearly 60-times more valuable that the price spike it experienced in 2018. No other major cryptocurrency has performed this well during this time, in terms of percentage gains.