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Bad crypto news this week



For Bitcoin, this is another important week. The dollar price has risen by about 2.5% this week, although it is still somewhat down from the recent high of $13,400. At one point, Bitcoin fell 4% in 24 hours. But the bulls remain optimistic, and they believe that the price may rise to $20,000 in March. Future price trends will depend on many factors, including whether banks accept cryptocurrencies with Paypal; the scale of stimulus measures that are expected to resist the new coronavirus outbreak; and the hash rate pattern. The volatility point may appear at the end of the month: at that time the expiration price of the BTC options market was $750 million. At the same time, a large amount of Bitcoin is moving. A whale recently transferred billions of dollars worth of Bitcoin. The cost is $3.58.

Despite this volatility, Anthony Pompliano, co-founder of Morgan Creek Digital, believes that Bitcoin has got rid of its association with the stock market and has now become a safe haven for investors. Mike Novogratz agreed. He believes that Bitcoin is a kind of digital gold: a good way to store value, but cannot be used as currency in the next five years. However, this opportunity may only apply to Bitcoin. Altcoins have performed poorly; for example, despite Bitcoin̵

7;s growing strength, Ethereum has always looked relatively weak.

Some companies have been performing well with this advantage. Business intelligence company MicroStrategy has made more than $100 million in profits from its Bitcoin investment. This is more than just analyzing the business. Visa may have difficulty following them. The US Department of Justice is currently investigating the company’s acquisition of the financial technology company Plaid.

The government has also been investigating social media. A hearing of the Senate Commerce Committee gave the CEOs of Google, Facebook and Twitter a partisan barbecue. However, one solution to the opacity of company content review may be open source algorithms.

Senators are not alone in partisan hacking. A group of hackers took over President Trump’s campaign website. The hackers said that they had evidence of the president’s “criminal involvement and cooperation with foreign actors” (sic)…and requested funding.

In Japan, a group of companies gathered to create a blockchain-based trade data management system. In Siberia, a new Bitcoin mine will create 100 jobs. Singapore’s largest bank DBS Group (DBS) is launching an exchange to convert fiat currencies into cryptocurrencies. In China, charities are using blockchain to provide trust to donors because they have raised funds for people in Wuhan, the center of the coronavirus outbreak. Although in the United States, Nasdaq CEO Adena Friedman (Adena Friedman) stated that machine learning and cloud technology will promote the development of capital markets, the process of adopting blockchain is “complex” , And “it will take longer.”

At least the art world is moving forward. From blockchain-inspired art to encrypted art and digital markets, artists and auction houses have discovered new opportunities in blockchain technology. Another reason for optimism.

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The views and opinions expressed here are only those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading action involves risk, so you should conduct your own research when making a decision.


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