It's official: Cryptocurrency has gone mainstream in Australia.

Buoyed by the turmoil of COVID-19 and the enormous economic damage caused by global shutdowns, investors poured cash into crypto assets as a form of decentralised finance – or DeFi – hoping that it would be protected from external variables.

Take Bitcoin for example: In January 2021 one Bitcoin was worth just over $38,200. By December 2021 that figure had exploded to $72,300 – an increase of almost 90 per cent.

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But the extreme danger of cryptocurrency is its volatility: daily swings of much as 10 per cent are not only common, but expected.

So what does 2022 hold for the future of cryptocurrency? Market analyst at eToro Josh Gilbert told 9News.com.au that he expects to see a continuation of this year's bull market.

"Global adoption of cryptoassets is accelerating at an extraordinary pace and we can expect this trend to continue well into 2022," Mr Gilbert said.

"We're currently in an environment where it's more important to invest when we consider the inflation print experienced in the US.

"Bitcoin has been labelled an "inflation hedge" by some, but the cryptoasset is still in its infancy, and hasn't been tested during a recession, therefore can't be considered as a hedge against inflation for now."

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According to Mr Gilbert, cryptocurrency's ascendancy to the mainstream is likely to remove some of its infamous volatility.

"Crypto critics often argue about the real-world use cases and utility for some cryptoassets, however, it's becoming increasingly apparent that they are now hitting the mainstream by entering and gaining a solid foothold in multi-billion dollar industries such as music, gaming, sports and art," Mr Gilbert said. 

"In early November 2021, the Reserve Bank of Australia (RBA) referred to crypto and DeFi as the 'future of payments,' highlighting crypto's rapid innovation and technology. They acknowledge that crypto and DeFi can revolutionise the financial industry, whilst democratising finance for the whole world, not just here in Australia.

"I think it may take crypto many years to solidify its place in the overall financial industry, but it's already laying the foundations."

New research shows that more than a quarter of Australian investors now own some kind of cryptocurrency asset as COVID-19 and worldwide inflation concerns push many to invest in decentralised finance – otherwise known as DeFi.

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According to the Independent Reserve Cryptocurrency Index (IRCI) 28.8 per cent of Aussie investors now hold some form of cryptocurrency in their portfolio, having increased dramatically from 18.4 per cent in 2020.

The proportion of Aussie women who own cryptocurrency has also doubled, rising from 10.1 per cent in 2020 to 20 per cent in 2021.

"Although Australian regulators and government agencies may have taken a while to get their heads around cryptocurrencies and other digital assets, Australians themselves have sped ahead and we're really seeing that in past year, as an asset class, crypto has gone from the fringe to the mainstream," Independent Reserve CEO Adrian Przelozny said.

"Our IRCI results this year support this, with 28.6 per cent of Australians who don't currently own crypto telling us they would invest if there were better consumer protections in place.

"Another 26.6 per cent said they'd buy crypto if industry regulation was improved."

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But like all investments, there's always the chance that riches could turn to rags almost overnight.

"In 2013 and 2017 we saw crypto bull markets and have now experienced this again in 2021. Nevertheless, I don't think we've yet to see the dramatic price action we saw during these periods," Mr Gilbert said.

"If history is anything to go by, this could mean that we haven't quite seen the peak for crypto yet and 2022 could be a key year.

"In the same breath, investors should remember that we may then experience a 'crypto winter'."

The information provided on this website is general in nature only and does not constitute personal financial advice. The information has been prepared without taking into account your personal objectives, financial situation or needs. Before acting on any information on this website you should consider the appropriateness of the information having regard to your objectives, financial situation and needs.

An aeroplane has crashed in the El Cajon area of Southern California in the United States, authorities have said.

An unspecified number of injuries have been reported, the San Diego County Sheriff's Department reported on Twitter.

Streets are being blocked and deputies are asking drivers to avoid the area, noting it will take time to process the scene.

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The Sheriff's Department said the plane was a Learjet, and authorities are uncertain how many people were on board, CNN affiliate KGTV reported.

There was a fire, authorities said, which has been put out.

The Federal Aviation Administration (FAA) and the National Transportation Safety Board (NTSB) have been notified, and will handle the plane crash investigation, the Sheriff's Department said.

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"We are just helping with the initial response and road closures" the Sheriff's Department said in an email to CNN.

El Cajon is about 25 kilometres east of San Diego.

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New vision released by police shows the moment two children who went missing in rural NSW were found, praised as a "fantastic result" by emergency services.

Police were called to Cedars Road, Kains Flat, about 35km north-east of Mudgee in the Mid-Western region about 5.45pm on Monday.

They were told 14-year-old Eli Jones and 12-year-old Hannah Jones went for a walk about 2.30pm and did not come back.

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Police rescue, specialist police and the dog squad were all involved in the search, along with NSW Ambulance, Rural Fire Service Volunteer Rescue Association and the Westpac Lifesaver Rescue Helicopter Service.

The pair were found today in bushland at Kains Flat.

Detective Inspector Natalie Antaw said the pair were spotted by a toll rescue helicopter and "located safe and well".

The police vision shows the children walking through dense bushland when the helicopter spotted them.

"The helicopter winched down ambulance paramedics who were able to walk with the children out to a waiting ambulance, where they were reunited with their parents," she said.

NSW Ambulance Inspector Jed Gollan said the children were "tired, thirsty, and had quite a few mosquito bites – but they were otherwise in good health".

"Reuniting them with their parents was a great moment."

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Family members can be seen hugging the children as they were reunited at the search site.

Detective Inspector Antaw said they believe the children became disoriented and lost in the bush.

She added it's a "fantastic result" and a "sensational feeling" to see the children reunited with their family.

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The family has issued a statement thanking emergency services and volunteers for finding the children.

"Our family would like to give our deepest thanks to emergency services and volunteers for assisting in the safe recovery of our children," the statement said.

"We also extend a special thank you to the community from both Mudgee and Sydney."

"While we are grateful for the assistance provided by the community and media, we respectfully request privacy at this time."

Western Australia police are appealing for information after a seven-year-old child was sexually assaulted at a home in Ellenbrook.

The child went to bed as normal on the evening of Sunday, December 26.

She disclosed to her parents that she had been sexually assaulted during the night on the morning of December 27.

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Police are currently searching an area in Ellenbrook, a north-eastern suburb of Perth, for items that may assist this investigation.

This includes a window fly screen and a girl's pyjama top that are missing from the house.

Investigators would like to speak to anyone who has seen these items, or has dashcam or CCTV.

An earthquake has hit Victoria's east, just over three months after the state was rocked by its largest-ever earthquake.

The 2.8 magnitude tremor, which was three kilometres deep, occurred about 3.24pm on Tuesday.

Its epicentre was recorded near Moe in Gippsland.

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https://twitter.com/vicsesnews/status/1475694810799300608

Around 48 people have recorded feeling the earthquake.

A man has reported feeling it in Upwey, in Melbourne's outer east.

Victoria SES has said anyone who needs assistance following the earthquake should call 132 500.

A pet turtle has been rescued after it fell off a balcony on the NSW Central Coast.

Fire and Rescue NSW (FRNSW) crews were called to Coral Street at The Entrance just before 12.30pm today.

A young boy was desperate to retrieve his pet turtle which had fallen to a balcony below in the apartment block.

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"The turtle had remained trapped there for two days as the occupants were not contactable," FRNSW said.

Firefighters used a ladder to access the first-floor unit and retrieve the "shell-shocked turtle".

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The turtle was not injured in the fall.

Fire crews returned the turtle to its very grateful owner.

A US animal shelter received a Christmas gift they were not expecting, after more than 800 parakeets were surrendered.

Staff at the Detroit Animal Welfare Group, in the state of Michigan, were "shocked" to find the birds "crammed in seven cages" but "could not turn them away".

There were 497 parakeets surrendered on Christmas Day, followed by 339 days later.

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The team was able to set up proper temporary housing for the birds and "miraculously" the shelter recently had parakeet food delivered.

"It truly takes a village to help these animals and we are so thankful for everyone that works together to get them the care and proper homes they deserve," the shelter said in a post on Facebook.

Many of the birds are being handfed as they don't have mothers to feed them.

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Four animal rescue groups have since come to the shelter's aid, with assistance with the adoption process.

This is in addition to offers from the community to assist, foster, adopt, donate as well as send food and cages.

"Owning a parakeet is a six-to-15 year commitment and they require not only food, water and daily cage cleaning, but also daily interaction, enrichment and flight time," Detroit Animal Welfare Group said.

"As any pet, they should be part of the family."

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