Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.
Bitcoin’s price has hardly moved an inch in the last six weeks — barely moving 2% in either direction from its average. This long period of stagnation resembles what happened in early 2017. BTC stayed around $900 for the first three months of the year, which was followed by an explosive 300% move in the second quarter. Of course, Bitcoin is facing stubborn levels of resistance before it clears $10,500 — and this week, BTC’s correlation to the S&P 500 reached an all-time high. On Thursday, a bad day for stocks saw Bitcoin abruptly drop below $9,200. Key metrics do show that institutional interest in crypto is high and rising, but even some of the world’s biggest Bitcoin bulls are sounding a note of caution. Mike Novogratz, who wrongly predicted BTC would hit $20,000 by the end of 2019, has said he doesn’t recommend investors putting the majority of their funds in crypto. “My sense is that Bitcoin way outperforms gold, but I would tell people to have a lot less Bitcoin than they have gold, just because of the volatility,” he told CNBC on Tuesday.
Dogecoin gains 20% amid TikTok pumping challenge
Coinbase reportedly preparing for stock market listing later in 2020
“Fireworks are coming” — FX markets will boost Bitcoin, says analyst
Islanders demand return of .IO domain from colonizers
New York court rejects Bitfinex appeal over $850 million in lost funds
Telegram will shut down the TON testnet by August 2020
Why banks keep blockchain cryptocurrency-related transactions
Much-anticipated central bank digital currencies raise privacy concerns
How the U.S. and Europe are regulating crypto in 2020
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