Bitcoin "could hit $6,000" by the end of the year, says experts
CNBC has revealed that experts believe bitcoin could go as high as $6,000 by the end of the year, but investors should be wary of volatility.
Thomas Glucksmann, head of APAC business development at Gatecoin, said in an email: "Throughout the year, we have predicted bitcoin to surpass the $5,000 mark and reach closer to $6,000 by year's end."
Meanwhile, Goldman Sachs CEO Lloyd Blankfein has revealed that he is "still thinking about bitcoin" in a tweet that compares the current situation to a new wave of mainstream currency.
"I'm not outright endorsing or rejecting bitcoin," tweeted Blankfein. "Just know that folks were sceptical when paper money displaced gold."
However, bitcoin hasn't been receiving rave reviews from all - JPMorgan CEO Jamie Dimon called the digital currency a "fraud" that will "blow up."
"Anyone trading in bitcoin at JPMorgan would be fired in a second - it's against our rules and it's stupid," said Dimon.
This is despite the bank routing customer orders for bitcoin-related instruments and acting as an agent for buyers and sellers of bitcoin.
Dimon's comments caused bitcoin to fall to $4,106, but it has since traded at $4,450 - currently, it is trading at $4,219.
ServiceNow pumps millions into EU service compliance
ServiceNow, the digital workflow company, has announced a multimillion euro investment to help EU customers meet compliance requirements.
The legal, technical and organisational safeguards will help companies to comply with the the Schrems II judgment and European Data Protection Board (EDPB) Recommendations issued in June 2021.
ServiceNow’s investment means all EU-hosted data will be exclusively handled within the EU, and the cloud-hosted digital workflow provider claims its solution will come “without impact on current delivery and service”.
ServiceNow upgrade: free of charge
There will be no cost for current customers to opt in to the data compliance solution, even though ServiceNow is investing an unspecified multimillion euro sum and hiring more than 80 new staff across the bloc.
Mark Cockerill, vice president legal, EMEA and global head of privacy at ServiceNow, said: “With any regulation change, cloud services companies have a choice. They can adopt a ‘wait and see’ approach or get proactive and help customers and partners innovate. At ServiceNow we are on the front foot, continually investing in our customers, allowing them to operate with the highest level of choice and control over their EU data.
ServiceNow upgrade: ‘peace of mind’
“Our new EU-centric service delivery model will give our current customers and partners peace of mind. For customers and partners operating in highly regulated industries, or in the public sector, or those that have yet to make the switch to the cloud, this model gives them certainty and simplicity when selecting the cloud service that best suits their needs.”
Carla Arend, lead analyst, cloud in europe for IDC, said, “The Schrems II ruling has led European organizations to revisit their cloud-related data protection policies and processes when it comes to international data transfers through cloud services.
“Contractual, privacy, and security safeguards and the assurance that data will be kept and handled in the EU help European organizations to comply with European data protection laws while taking advantage of global cloud platforms. Vendors, such as ServiceNow, that invest to support their customers in response to this ruling are providing essential choice to their customers.”