Bitcoin pushes to clear $7,750 as key weekly close approaches...
One week in review:
Apr. 20–26 We've selected the hottest materials of the past week for you to stay up to date with the latest crypto news: | | #1. Bitcoin pushes to clear $7,750 as key weekly close approaches | | | It's a nail-biting time for Bitcoin owners. The cryptocurrency mounted a strong rebound and surged from $6,800 to $7,600 this week — with a dramatic surge on Thursday, taking many traders by surprise. But the question now is whether these higher prices are here to stay. | | | On Sunday, Bitcoin needed to hold above $7,475 or else its price was prone to retest underlying support levels. Two technical factors could push BTC to $8,000 near-term as traders anticipate a strong weekly close. | | | The Crypto Fear & Greed Index shows investors remain extremely cautious about Bitcoin's short-term prospects. Currently, the score stands at 21 — "extreme fear." | | #2. Bloomberg: Bitcoin is setting up for a 2017-like bull run | | | A new Bloomberg report this week was exceedingly flattering about Bitcoin and suggested that the cryptocurrency is preparing for a mahoosive bull run. The report claimed that Bitcoin and gold stand to be "primary beneficiaries" of the coronavirus-induced market turmoil. With BTC's correlation to the precious metal hitting all-time highs, it added that Bitcoin could be about to transition from a "risk-on speculative asset to the crypto market's version of gold." | | #3. Ripple files lawsuit against YouTube: "Enough is enough" | | | Ripple Labs has filed a lawsuit against YouTube, and the company is seeking damages for the video-sharing site's alleged failure to stop XRP scammers and impersonators. Brad Garlinghouse, Ripple's CEO, claims the scam — often referred to as "The XRP Giveaway" — has already defrauded victims out of crypto worth hundreds of thousands of dollars. | | | YouTube is accused of profiting from the scam by "knowingly selling paid ads on behalf of fraudsters" — and awarding verification badges to channels taken over by the scammers. | | #4. Prediction of the Week "Boomers are f*cked" — new macro report forecasts $1 million Bitcoin by 2025 | | | A damning new macro report claims Bitcoin can rally to $1 million, but the coronavirus means that the baby boomer generation is, well, "f*cked." Global Macro Investor CEO Raoul Pal says the COVID-19 pandemic is inflicting "incomprehensible" damage on the U.S. pension system. | | | Summarizing the market losses seen since March, he wrote: "The Baby Boomers will sell every rally they can to protect their last, rapidly diminishing nest egg. The Baby Boomers are totally f*cked. I have been publicly warning and warning about this." | | #5. FUD of the Week Vitalik Buterin trolls Craig Wright over patent trolling | | | Ethereum Co-Founder Vitalik Buterin took a veiled swipe at Craig Wright this week, the Australian entrepreneur who claims to be the pseudonymous Bitcoin creator, Satoshi Nakamoto. Wright has previously claimed that nChain, where he works as chief scientist, has filed more than 800 applications for blockchain patents, and has been granted between 50 and 100. | | | In a scathing tweet, Buterin argued that this is beside the point, writing: "If you're bragging about how many 'blockchain patents' your country/company/organization has, you don't understand blockchains." | | #6. FUD of the Week COVID-19 domain seized after attempted sale for BTC | | | The United States Attorney's Office has seized a fraudulent COVID-19 domain name after its owner attempted to sell it in exchange for Bitcoin. CoronaPrevention.org was put up for sale on a "hackers forum" the day after President Donald Trump declared a national emergency in response to COVID-19, the U.S. Department of Justice alleges. | | Feel free to explore the most important news with Hodler's Digest by Thomas Simms:
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