$12,000 Bitcoin price back on the table after BTC rallies above $11,400...
One week in review:
Oct. 5–11 We've selected the hottest materials of the past week for you to stay up to date with the latest crypto news: | | #1. $12,000 Bitcoin price back on the table after BTC rallies above $11,400 | | | Bitcoin rallied to $11,448 on Friday, finally breaking above the symmetrical triangle where the price had been compressing for the past 30 days. Earlier in the week, BTC had dropped to $10,528 when Donald Trump suggested negotiations on a second stimulus package wouldn't happen until after the election. | | | All eyes now are on the U.S. election, and whether it'll impact Bitcoin's price. One trader, "BigCheds," told Cointelegraph a clear winner won't affect crypto too much, but he believes "we should see a bounce in risk-off assets like gold and Bitcoin" if the result is contested. | | #2. John McAfee arrested in Spain on tax evasion charges | | | John McAfee has been arrested in Spain on tax evasion charges, and he is now awaiting extradition to the United States. | | | He faces five counts of tax evasion covering the years 2014 to 2018, and if convicted, he could face a sentence of five years in prison and a $250,000 fine for each count. McAfee has also been charged with five counts of willful failure to file taxes. | | #3. SEC's conservative approach to crypto needs to change, "Crypto Mom" says | | | Hester Peirce — the SEC commissioner affectionately known as "Crypto Mom" — has said the regulator's conservative attitude to crypto needs to change. In an interview with Cointelegraph, she admitted that the Securities and Exchange Commission has been "very slow" in giving guidance even though interest in digital assets is growing. | | | "I think we're going to be forced to confront that more and more in the coming years," Peirce said. | | #4. Prediction of the Week Bitcoin pioneer predicts $1 trillion Bitcoin market cap by 2022 or "sooner" | | | Adam Back has said it is "conservative" to think that Bitcoin will hit a $1-trillion market cap by 2025 — and believes it could happen within two years. This would result in Bitcoin surging to a price of approximately $50,000 per coin. | | | For the Blockstream CEO's prediction to come true, Bitcoin's market cap would need to increase by almost 400%, given how it currently has a valuation of about $210 billion. | | #5. FUD of the Week Multimillionaire Dick Smith threatens to sue The Guardian over Bitcoin scam ads | | | One of Australia's best-known entrepreneurs has threatened to sue The Guardian after it hosted ads that linked to fake articles suggesting he is promoting a fake Bitcoin investment scheme. Although The Guardian has been taking down ads once notified, Smith's lawyer warned "that does not prevent Australian readers from falling victim to this prolific cryptocurrency scam." | | | Smith has been battling the ads on various platforms for months. In his case, the fake articles were about "how to make money easy" and "get rich in a few days" using cryptocurrency. | | #6. FUD of the Week 75 crypto exchanges have closed down so far in 2020 | | | Crypto exchanges are disappearing at a fast rate this year. At least 75 of them have shut down due to hacks or scams, with some simply vanishing into thin air. According to research by the Crypto Wisser Exchange Graveyard, five of the exchanges are believed to have been scams, four were hacked, 31 were shut down voluntarily, and 34 were labeled "MIA" for disappearing with no explanation. Two were shut down by governments. | | | There are some macro trends that help explain why so many smaller exchanges are failing. The growth of DeFi and the rise of decentralized exchanges in 2020 have put the final nail in the coffin for many smaller operations. Regulatory pressure has also increased since the early days of the industry, and many exchanges simply haven't been able to keep up with the requirements. | | Feel free to explore the most important news with Hodler's Digest:
| | | |
0 Comments
Postingan
