Bitcoin price drops to key level as 100% rally since crash looks shaky...
One week in review:
Apr. 6–12 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 drops to key level as 100% rally since crash looks shaky | | | BTC has gained more than 10% in the past week, fueling hope that there's a bullish future ahead for the world's biggest cryptocurrency. Unfortunately, it's never that simple. There was a valiant effort to smash through the critical resistance level of $7,200 — but this triggered a huge rejection. Perhaps it's a little too soon to expect a miraculous bounceback to $8,000 and beyond. | | #2. Jack Dorsey donates 28% of his wealth to global COVID-19 relief | | | Jack Dorsey, Twitter's CEO and the founder of Square, has started a new fund that's designed to offer COVID-19 relief worldwide. He's injecting a cool $1 billion into the Start Small initiative — a figure that's roughly equivalent to 28% of his wealth. The entrepreneur, a vocal Bitcoin supporter, also believes his philanthropic effort will benefit Twitter and Square in the long term "because it's helping the people we want to serve." | | #3. Binance hits back at "embezzlement" claim | | | Binance has hit back at allegations that it embezzled hundreds of thousands of dollars in funds that were frozen from a user's account in November 2018. In a lengthy statement, the exchange said the funds were frozen at the request of South Korean law enforcement agencies because the account holder had allegedly received 3,995 ETH through a listing fee scam. Binance even went as far as providing screenshots of correspondence with the Korean authorities to back up these claims. The user had earlier claimed that he had "every reason Binance misappropriated my money for itself." Speaking to Forklog, he also claimed to be in contact with other Binance users who believe the exchange wrongfully froze their funds. | | #4. Prediction of the Week Former Facebook exec: BTC's price is either going to zero or seven figures | | | Social Capital CEO Chamath Palihapitiya has said Bitcoin's price will either soar into the millions or go to zero — and that the cryptocurrency's success hinges upon whether the architects of the existing financial system continue on the current path toward debasement. Speaking to Morgan Creek Digital's Anthony Pompliano, the former Facebook executive attacked the current state of the global economy, warning: "We are driving, slowly, but we are driving towards a cliff. And then, we're going to drive much, much faster down that cliff or down that hill. And at the end of it is a huge brick wall." | | #5. FUD of the Week U.K. company paid $2.3-million ransom in Bitcoin to cybercriminals | | | A major foreign exchange company reportedly paid hackers almost $2.3 million in Bitcoin after suffering a ransomware attack on Jan. 11. Travelex, which is based in London and is known for its kiosks in airports and tourist sites worldwide, saw its networks infiltrated by cybercriminals on New Year's Eve. Although the company confirmed the attack took place soon afterward, it didn't disclose that a 285-BTC ransom was paid. | | #6. FUD of the Week Bitcoin trading scam claims to involve Harry and Meghan | | | Fresh from cutting ties as senior members of the U.K.'s royal family, Harry and Meghan have been made the faces of a cryptocurrency scam. The couple was featured in a fake BBC article where they supposedly praised a Bitcoin trading scheme. The dodgy story claimed that the duo had appeared on a TV show to discuss a wealth loophole that can "transform anyone into a millionaire within three to four months." It then goes on to praise Bitcoin Evolution, a well-known scam. | | Feel free to explore the most important news with Hodler's Digest by Thomas Simms:
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