Home Business Crypto Rewind 22: Bitcoin Treasure Hunt and China Panic

Crypto Rewind 22: Bitcoin Treasure Hunt and China Panic

Crypto Rewind 22: Bitcoin Treasure Hunt and China Panic

Last week was dominated by a number of crypto exchanges that closed their doors and of the aftermath the troubles at hardware wallet manufacturer Ledger. Meanwhile, the prices of many cryptocurrencies continued to cool relatively, and this week was no different. Yet there was also a lot of positive crypto news, you could even call it hype.

One bitcoin satoshi is not the other

The bitcoin price has not increased this week. In fact, although the price has not broken the pattern it has been in since March, the price has actually fallen slightly to $27,200 at the time of writing. Yet there is still hope. The former institutional investor PlanB thinks that bitcoin (BTC) is in a bull market if the price exceeds $ 29,500. That is a special resistance level formed by on-chain transactions.

Meanwhile, the rest of the market happily continues to pursue bizarre tactics. As it turned out this week, one satoshi is not the other, and in rare cases can even be worth more than a whole bitcoin.

The so-called ‘sat hunters’ aim to fish these rare units of BTC out of purchasable coins. Don’t worry, apart from these special sats, 1 BTC is still worth 1 BTC, even if the rare sats are fished out.

Ripple to $250?

So the prices of bitcoin and many major altcoins have done little this week, but the price of XRP is actually up about 10% this week. This made it one of the few green coins. Part of that seems to be because network activity hit a new all-time high this week.

John Deaton, a popular lawyer from Ripple’s rank and file, thinks that Fear Of Missing Out (FOMO) will arise if the price breaks the $ 2 mark. There also seems to be some FOMO at the moment, as it was rumored that the price could reach $ 250.

Coinbase plea US government

Meanwhile, Coinbase is still fighting for proper crypto regulation in the United States. In a plea, Brian Armstrong, the trading platform’s CEO, wrote about how US policymakers are hindering innovation in the US, even empowering China. China seems to be increasingly open to crypto and blockchain.

For example, the memecoin Floki Inu is reportedly gaining popularity in China. This token would be used for the new video game Valhalla. Meanwhile, the US Securities and Exchange Commission is still embroiled in lawsuits against US companies that appear to want to comply.

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