Make sure you check out last weeks post , now let’s go over what happened in crypto this week.
Price Watch:
- is up 15% this week after a slight gain and a nearly 20% drop the week . After stabilizing at earlier this week, the price rocketed in a dramatic green candle. The price has hit a over the $8,00 mark, but analysts are . For the first time in , we’ve seen revealing huge price targets in a manner similar to the end of 2017. Despite the price rise, fell slightly marking a reversal of .
- Ethereum is up 30% this week. The currency was flat and experienced of double-digit drops in the weeks prior. Technical analysts are that the rally will continue. Those more keen on fundamental analysis will point to Golem .
- The entire crypto market gained 20% this week briefly bringing the total market cap over $325 billion. This comes after early gains of earlier in the week and is no doubt due to earlier this week. The dramatic gains come after of the price staying sideways at the $250 billion level.
Crackdowns:
- Trump’s crackdown on Petro backfires: A Venezuelan government representative for the free publicity that came from his . The representative further claimed that Trump’s has even managed to raise investor interest in the U.S. These statements should be taken with some hesitation, as the Venezuelans are suspected of making surrounding the “” raised by Petro’s presale earlier this year. In any case, Venezuela has made some bold predictions for the future stating Petro’s impact would be felt within ““.
- Pakistan from transferring cryptocurrencies this week in a move that closely followed neighbor and India’s last week. The move in Pakistan is expected to be just as controversial (and ) as . The move follows similar actions by , , , , , , , , and others although these bans have taken .
- JP Morgan sued over fees: In what has been called a form of karmic justice for J.P. Morgan CEO Jamie Dimon who called a “fraud”, the firm he runs has been hit with a surrounding hidden fees users incur when using credit cards to buy bitcoin.
- Bitfinex investigated over money laundering: Polish authorities have revealed that Bitfinex has in an investigation into the laundering of zł 1.27 billion Polish złotys (~$371 million). The laundered money is said to belong to Colombian drug cartels. Colombia cryptocurrencies in late 2016 citing money laundering concerns.
Forks:
- Nano lawsuit demands fork: A class action lawsuit filed by victims of a breach against exchange aims to force the developers of (XRB) to create a hard fork which would return lost assets to investors. Normally security is the asset holders responsibility, but the developers appear to have explicitly endorsed the exchange citing a close relationship with BitGrail . have been posed over whether or not the attack happened and many have pointed fingers exclusively at BitGrail. If this lawsuit is won by the plaintiffs it could set a dangerous precedent for future hacks.
- Vitalik opposes hard fork that would stop ASIC mining: After that sought to slow down Ethereum centralization by stopping became wildly popular, Ethereum co-founder Vitalik urged the community to exercise some restraint. With the memory of , it’s completely reasonable to fear a split in the community and a detraction from “more important things”.
Featured image from Shutterstock.
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Published at Sun, 15 Apr 2018 09:48:27 +0000
bitcoin Price News
