Bitcoin flips bullish — but here's why BTC price may still hit $3,900...
One week in review:
Mar. 30–Apr. 5 We've selected the hottest materials of the past week for you to stay up to date with the latest crypto news: | | #1. Bitcoin flips bullish — but here's why BTC price may still hit $3,900 | | | 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. Binance announces CoinMarketCap acquisition | | | Big news in the crypto sector this week: One of the biggest mergers in the industry's history has been signed on the dotted line. Binance, the world's biggest cryptocurrency exchange, has acquired CoinMarketCap, one of the most-referenced crypto data websites. The value of the deal is undisclosed, but it's rumored to have cost Binance a cool $400 million. Binance CEO Changpeng Zhao told Cointelegraph that negotiations had been ongoing for several months, adding: "The acquisition will enable us to build on each other's strengths and further grow and instill transparency in the industry." | | #3. Not April Fool's — Trump hints at $9 oil after accidental Bitcoin plug | | | Last week, Trump had inadvertently advertised Bitcoin after appearing to suggest he supports manipulating the U.S. dollar. This week, the U.S. president raised eyebrows by indicating that he expects oil to crash to just $9. It comes as Russia and Saudi Arabia continue their tiff, with both of them planning to increase oil production this month despite a plunge in demand caused by the coronavirus. WTI crude prices have tumbled by more than 50% in the past 30 days alone — and are down 68% year to date. The last time oil circled $10 was actually in 1998. | | #4. Prediction of the Week Mike Novogratz may "hang his spurs" if Bitcoin doesn't hit $20,000 in 2020 | | | Mike Novogratz has reaffirmed his belief that Bitcoin will reach an all-time high this year — and warned he might give up on BTC altogether if it doesn't. The CEO of Galaxy Digital, a well-known Bitcoin bull, expressed his confidence that Bitcoin's price will at least double by October. He also told CNBC: "This is the year of Bitcoin, and if it doesn't go up now by the end of the year, I might just hang my spurs." | | #5. FUD of the Week Philippine SEC warns of international Ponzi scheme offering 300% daily returns | | | A crypto Ponzi scheme is targeting Filipino, Australian and European investors, according to the Philippines Securities and Exchange Commission. The scheme — known as "Bitcoin Revolution" — offers investors exorbitant compounding daily returns on deposited funds. It claims to offer software that produces trades with a success rate of between 88% and 95%, offering a path to seven-figure gains in just 61 days. From an initial deposit of just $250, the scammers claim that investors can earn 300% per day or 9,000% per month. The SEC is warning that anyone involved in the scam will face up to 21 years of imprisonment and/or maximum fines of $100,000. | | #6. FUD of the Week FBI arrests Russian rapper for crypto money laundering, cites damning Instagram | | | A Russian national has been arrested on suspicion of money laundering, with U.S. authorities pointing to an Instagram account that promoted his rap career as evidence against him. FBI investigators claim Maksim Boiko laundered money using cryptocurrencies, including via the disgraced BTC-e exchange. Boiko entered the U.S on Jan. 19, carrying $20,000 in cash. He told airport security that the money had come from investments in Bitcoin and rental properties in Russia. Data from BTC-e showed his account had received deposits worth $387,964 — and pictures uploaded to his Instagram show him holding large wads of cash. | | Feel free to explore the most important news with Hodler's Digest by Thomas Simms:
| | | |
0 Comments
Postingan
