Bitcoin price back over $10K following 36% gains on the day...
One week in review:
Oct. 21–27 We've selected the hottest materials of the past week for you to stay up to date with the latest crypto news: | | #1 Bitcoin price back over $10K following 36% gains on the day | | | The world's largest cryptocurrency has had us all in for a white-knuckle ride this week. Wednesday saw Bitcoin crash $500 in a matter of minutes and sink to $7,500 — a five-month low. At one point, BTC had realized massive gains of 36% on the day — taking the coin and hurtling it beyond $10,100. One commentator claimed it was the fourth-largest gain in Bitcoin's history, and the biggest daily gain since 2011. | | #2 Chinese President Xi Jinping urges accelerated blockchain technology adoption | | | So, more on those comments from Xi Jinping — comments that may have proven to be catnip for crypto markets. On Thursday, he called for China to accelerate its adoption of blockchain and said that doing so would be essential for technological innovation and transforming industries. A long-standing aversion to cryptocurrencies remains in China, where ICOs and crypto exchanges have been banned, and mining could follow next. Nonetheless, a Chinese central bank digital currency is in the works. | | #3 Revealed: How much wealth has been transferred using Bitcoin | | | New data this week revealed that a whopping $11 trillion in Bitcoin has been transferred since its blockchain went live a decade ago. According to crypto analyst PlanB, the network processes an average of about $9.6 billion per day. In other developments, a survey by a financial services firm suggested that the number of Americans who own cryptocurrencies has almost doubled this year. Back in April, a report had suggested that BTC could overtake other global payment systems, such as Visa and Mastercard, in a decade from now. | | #4 Now is a great time to visit Cointelegraph's unblocked Facebook page | | | We've been blocked for more than a month but now we're back on Facebook. There was a lot of confusion surrounding why the block had gone into force. A Facebook representative has told Cointelegraph that the page was unpublished in error, meaning it's now live again. Come and give us a Like! | | #5. FUD of the Week Unknown miner controls 50% of BCH hash rate for 24 hours | | | An unknown Bitcoin Cash miner was apparently in control of more than 50% of the token's hash rate for 24 hours. Reaching this threshold runs the risk of users being able to dominate the entire network and do "nefarious things." | | #6. FUD of the Week Head of Crypto Capital arrested in connection with money laundering | | | The president of the controversial Panama-based payments processor Crypto Capital has been arrested by authorities in Poland. The company has ties to Bitfinex and other major cryptocurrency exchanges. Ivan Manuel Molina Lee is suspected of money laundering and being involved in an international drug cartel. Following the arrest, Bitfinex described itself as a "victim of a fraud." | | Feel free to explore the most important news with Hodler's Digest by Thomas Simms:
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