Top Five Stories from The Last Week
Bitcoin at Most Overbought Level Since Record Bull Run: Bloomberg Analyst
What is this all about?
Bitcoin is at its most overbought level since its record highs in December 2017, Bloomberg Intelligence analyst Mike McGlone claimed.
What is this based on?
According to McGlone, recent market growth occurred because of long-term price compression and low volatility, which caused the price to be "released from the cage." McGlone stated that he expects a similar downturn period to follow the recent growth.
Read more here.
Top-Subscribed YouTuber PewDiePie Partners With Blockchain Livestreaming Platform
What happened?
The most subscribed Swedish YouTuber personality, Felix Kjellberg — aka PewDiePie will begin livestreaming exclusively on the blockchain platform DLive, starting April 14.
What did he move?
PewDiePie's move to Dlive comes as the Swede faced backlash over his alleged ties to white supremacism, as his channel was mentioned by the Christchurch gunman prior to his attack on two New Zealand mosques.
Read more here.
Coinbase Crypto Exchange Debuts Visa Card for U.K. Customers
What is this all about?
Major United States cryptocurrency exchange Coinbase has launched Coinbase Card — a Visa debit card, that enables its United Kingdom-based customers to pay both in-store and online with cryptocurrency.
What else new?
The Coinbase Card has also been released for iOS and Android, linking Coinbase accounts with the app and allowing users to select which wallet will fund their card, as well as allowing access for receipts, transaction summaries and spending categories.
Read more here.
NYT Reporter: Facebook Seeking $1 Billion in Venture Capital for Crypto Project
What happened?
According to a tweet by New York Times tech reporter Nathaniel Popper, Facebook is reportedly looking to various venture capital firms to develop its digital token that has been previously reported on.
How would it work?
Popper, citing unnamed sources familiar with the matter, said that Facebook is seeking $1 billion to develop its cryptocurrency project, which itself has not been publicly confirmed by the company. The Times reporter also noted that the project involves a stablecoin that would be pegged to a basket of foreign currencies held in bank accounts.
Details here.
Chinese Traders Pay Extra for Bitcoin Through OTC Desks Amid Crypto Market Surge
What happened?
Local Chinese social media sources said that Bitcoin's price surge last week has led Chinese traders to pay a premium in order to trade the cryptocurrency.
Why did it happen ?
Since China formally banned crypto trading in the country in 2017, investors have had to resort to creative methods in order to deal in Bitcoin. In the analysis, cnLedger notes that a principal way to avoid the ban is to buy stablecoins such as Tether via over-the-counter services and convert them into other cryptocurrencies.
Read more here.
The next few weeks are critical, as it will confirm whether Bitcoin's bottom is in place or not. Check our latest market analysis!
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