Bitcoin hits all-time high as major altcoins enjoy triple-digit gains
One week in review:
Dec. 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 hits all-time high as major altcoins enjoy triple-digit gains | | | Without question, the biggest story of 2020 has to be Bitcoin's dazzling return to $24,000 and beyond. Who would have thought this was possible back in March when BTC suffered an almighty flash crash that took it down to just $3,600? | | | Major altcoins were also basking in the glow of stellar returns this year. At one point this year, ETH was up 417% on where it started the year — outshining BTC in percentage terms, even though it's some way off record highs. | | #2. Who did the most for real-world crypto and blockchain adoption in 2020? | | | PayPal naturally makes the list. In October, it confirmed that it was planning to integrate cryptocurrencies into its platform — meaning that 300 million users would be able to buy, sell, hold and spend Bitcoin, Ether, Bitcoin Cash and Litecoin. The service is already available in the U.S. and is going to be rolled out next year. | | | Other big moments included the S&P Dow Jones Indices confirming that it will debut crypto indexes in 2021 — officially bringing digital assets to Wall Street. | | #3. Five times crypto got weird in 2020 | | | John McAfee announced that he was going to run as the "crypto candidate" in the U.S. presidential election but ended up running his campaign abroad because the U.S. was pursuing him on tax charges. | | | Bitmain suffered a bitter power struggle that affected the company's basic operations, leading to one of its co-founders being ousted. | | | In July, Twitter was crippled by a devastating hack that saw the pages of high-profile figures including Elon Musk, Kanye West, Joe Biden and Warren Buffett compromised. | | #4. Prediction of the Week Top crypto adoption predictions that came true in 2020 | | | Here at Hodler's Digest, we've long brought you some of the industry's most outlandish price predictions. | | | Mike Novogratz had threatened to "hang his spurs" if BTC failed to hit $20,000 in 2020, but he is now entitled to breathe a sigh of relief after this all-important milestone was reached. | | | As early as 2013, Bill Gates had warned that currency can get "pretty inconvenient" — remarks that would prove timely as COVID-19 hastens the world's transition to a cashless society. | | #5. FUD of the Week Notorious crypto figures arrested in 2020 | | | Unfortunately, 2020 didn't exactly shake off crypto's reputation as being a honey pot for criminals — and from January to October, some estimates suggest that losses from thefts, fraud and hacks totaled a whopping $1.8 billion. | | | There were also a number of high-profile figures who became embroiled in legal issues. BitMEX founder Arthur Hayes went missing after the U.S. Department of Justice filed criminal charges — and he still hasn't been tracked down. | | | Meanwhile, John McAfee was detained in Barcelona over tax evasion charges levied by the U.S. government. | | | And over in China, a staggering 109 people were taken into custody in connection with the PlusToken Ponzi scheme. | | #6. FUD of the Week Cat got your tongue? Bitcoin critics wither in 2020 | | | Prominent naysayers like Warren Buffett, Bill Gates and Donald Trump have largely remained silent about Bitcoin and crypto this year. Nobel Prize-winning economist Paul Krugman, who predicted a "total collapse" of Bitcoin in 2018, refrained from commenting as well. | | | According to data by major Bitcoin-themed website 99bitcoins, 2020 has been the year with the lowest Bitcoin "obituary" rate since 2013. | | | Feel free to explore the most important news with Hodler's Digest: | | | |
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