The price of Bitcoin is facing its final resistance before $15,000...
One week in review:
Aug. 3–9 We've selected the hottest materials of the past week for you to stay up to date with the latest crypto news: | | #1. The price of Bitcoin is facing its final resistance before $15,000 | | | It's been a (slightly) calmer week for Bitcoin — with the world's biggest cryptocurrency managing to recover from the low $11,000s in recent days. Now, the $11,600–$12,000 is a crucial level to break if BTC is to continue moving higher. | | | According to Michaël van de Poppe, the resistance zone at $11,800–$12,000 is significant, as it's the final untested level until BTC enters open air. If there's a breakthrough, he thinks Bitcoin's price can easily run toward $15,000 or even $16,000 — exacerbating FOMO. Unfortunately, he believes such a move is unlikely. BTC's price went vertical as it headed from $9,500 toward $12,000 — meaning it may lack strength and momentum to go higher. | | #2. Revealed: The perfect time of the week to buy the Bitcoin dip | | | New data suggests that Sunday evenings are the best time to buy Bitcoin — with the crypto historically seeing higher returns at the start of the working week. There are several reasons Bitcoin might perform better as the weekend draws to a close. Lower trading volumes on Saturdays and Sundays raise the chance of high volatility. Also, traditional markets that facilitate BTC trades close on weekends — and this could cause a price spike when they reopen. | | #3. Alleged Twitter hacker's digital hearing overtaken by pornography and rap music | | | A digital courtroom hearing for the teen accused of being behind July's massive Twitter breach has been held in Florida. It did not go to plan. The trial had to be postponed. Infiltrators interrupted the hearing with rap music, movie dialogue and shouting. Pornographic material was then projected onto the viewers' computers. | | | Graham Ivan Clark was taken into custody on July 31. Earlier this week, he pleaded not guilty to all of the allegations against him. It's alleged that the 17-year-old — alongside a 22-year-old from Orlando and a 19-year-old from the United Kingdom — gained access to at least 130 high-profile Twitter accounts. | | #4. Prediction of the Week Pantera's founder foresees $100,000+ Bitcoin on the horizon | | | The world's oldest Bitcoin investment firm has made a bold prediction that BTC will have hit $115,000 by August 2021. Pantera Capital's ambitious projection is based on the stock-to-flow model. For the prediction to pan out, Bitcoin would need to surge by 900% in the next 12 months. That's a big ask — even for a cryptocurrency that's renowned for its volatility. | | #5. FUD of the Week Blockstream's Adam Back slams Ethereum as a Ponzi scheme | | | Computer scientist and Blockstream CEO Adam Back has compared Ethereum and other high-cap altcoins to Ponzi schemes. In a Twitter tirade, he wrote: "Bitconnect, Charles Ponzi, Ethereum, Onecoin, Cardano, Ripple, Bernie Madoff, Stellar, Dan Larmer. All looking very similar grade to me." Charles Ponzi and Bernie Madoff are two of the most famous creators of Ponzi schemes, while Bitconnect and OneCoin are famous cryptocurrency projects that were revealed to be Ponzis. | | #6. FUD of the Week German police seize $30 million in crypto from streaming site operator | | | Crypto worth over 25 million euros has been seized by German police, with the help of the FBI. The haul is associated with the illegal movie streaming site movie2k.to, which was closed down in spring 2013 due to copyright infringement concerns. The site's two main operators are accused of having distributed over 880,000 pirated copies of films, together with their accomplices, via the site between 2013 and 2018. One of them, the site's programmer, has cooperated in forfeiting $29.6 million worth of Bitcoin and Bitcoin Cash. | | Feel free to explore the most important news with Hodler's Digest by Thomas Simms:
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