It’s been a strange week for BTC as we move forward in our new mining rewards era. The price ends the week down but a late rally has pushed it back over $9,000. Technical analysts expect Bitcoin to continue rising based on the liquidation range of short positions, a discussion of cryptocurrency in Goldman Sachs’s client call, and a lack of funding in the futures market. On the other hand, if ratings agency Weiss is right, more than 21 million Bitcoins may now be in circulation. The agency, known for controversial opinions, blames leverage in agencies.
The entry of Google (NASDAQ:GOOGL) into the blockchain space might help soak up some that extra supply though, if it exists. Blockchain company Theta Labs has partnered with Google Cloud to let users deploy and run nodes. Google Cloud will also act as a validator serving Europe. On the other hand, Google’s Chrome is facing strong competition from crypto-powered Brave. The browser now offers video calls, even as the Telegram messaging service seals its departure from the Telegram Open Network. TON will now stand for “The Open Network.”