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bad crypto news of the week

July 12, 2020

It was another good and stable week for Bitcoin. There is still no big breakout and no sudden breakdown, but there is a comfortable increase of around 1.6 percent. If that sounds like Bitcoin is getting a little predictable, don’t be too confident, be calm. Some analysts see this period of sideways movement as the prelude to a major move, either up or down.. However, other analysts are more positive. Visit Bitcoin in the same place as Apple in the days before iPhone. They believe it could reach $ 60,000 by 2023.

In this case, the participants in a new German guerilla tagging campaign will do many people a valuable favor. The collective “Ideas are like flames” distributes stickers that praise Bitcoin and urges people to accept the “freedom allowance”.. Participants can even get 675 Satoshis for every sticker they attach.

But maybe you should buy Dogecoin instead. This is something TikTok users do. Buying Dogecoin has become a trend in which TikTok users tell each other that if the price reaches $ 1, they could make a fortune. The new demand quickly increased the price of the coin by 20 percent and is now more than twice as high as at the beginning of the week.. Dave Portnoy, founder of Barstool Sports, wasn’t the only one shaking his head on a pump and dump program.

bad crypto news of the weekbad crypto news of the week

Speaking of phrases and exaggerated claims: Interesting crypto things happen in the world of politics. Bitcoin friend Kanye West is no longer a friend of Donald Trump. The rapper has announced that he will run for the presidency of the United States. Will not be alone. Brock Pierce, President of the Bitcoin Foundation and co-founder of the EOS Alliance, has announced that he will also run for the White House.

The Senate is already making progress on cryptocurrencies. The Senate Banking Committee held a hearing to discuss the effects of Covid-19 on digital funding and the role of the US government in creating a digital currency. At the same time, the U.S. Commodity Futures Trading Commission, which regulates the derivatives markets, has prioritized rules for trading crypto assets. The organization has set goals for 2024.

And Venezuela has confiscated 314 Bitcoin mining machines. The country requires miners to obtain government approval to operate mining platforms.

In better news, a new app promises that users can send and receive Bitcoin and Lightning Network payments through their bank accounts. With Zap, users can bypass wallets and channels and keep Know Your Customer’s logs to a minimum.

And finally, UNICEF claims to have invested $ 100,000 in free equity funds in six startups, half of which focus on blockchain.. The children’s charity is interested in open source technologies that can alleviate poverty and affect children in developing countries. That would be a good week.

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Joel Comm He is an internet pioneer, bestselling author of the New York Times, futuristic speaker and co-moderator of the Bad Crypto podcast. It’s a fancy way of saying that spells words, says things, and likes to play with crypto.

The views, thoughts and opinions expressed here are only those of the author and do not necessarily reflect or represent the views and opinions of Cointelegraph.