Best stories of the week
Equity inventor doesn’t believe bitcoin bull market is over.
The price of bitcoin appears to have stagnated below $ $60,000 $ after hitting all-time highs in early March. But on the other hand, the expiration of the $6 billion option on Friday – a record amount – did not lead to the decline some feared.
The ever-optimistic PlanB says we are far from the end of the bull market and tweets: Bitcoin is just getting started.
YouTuber and derivatives trader Ton Weiss also thinks the best is yet to come and told Cointelegraph: While it is still possible that bitcoin will hit a monthly low of $48,000, I think we will be above $70,000 before June.
BTC has plummeted to $51,212.85 in recent days, its lowest price in two weeks. Shortly after, Michel van de Poppe warned that BTC needs to come back into the $53,200 – $53,800 range to restart bullish momentum in the near future, otherwise an even bigger breakout is possible. So far this weekend, that threat appears to have been averted.
Elon Musk says Tesla is now accepting bitcoin from US customers.
With tech stocks also taking an occasional hit this week, even Elon Musk’s announcement that Tesla is now accepting bitcoin from US customers only temporarily boosted the price of BTC.
Billionaire and TechnoKing said the electric car maker will keep the bitcoins it collects out of sales instead of converting them to a Jeep. He also confirmed that support for cryptocurrency payments will be rolled out internationally later this year.
Tesla’s decision to dump forked products like Bitcoin Cash proved disastrous for BCH, which dipped to a new low against BTC.
But some experts have warned that hacking Tesla with crypto-currencies is not a good idea….. , at least for now. Cathie Wood, founder of Ark Invest, urged investors not to use BTC for purchases until the IRS implements a more reasonable tax policy for crypto assets.
The US currently treats bitcoin as property, not currency. This means that the event is considered taxable regardless of whether you sell BTC for a profit or use it to buy a shiny car.
NFT input: New York Times raises $500,000 for charity atNFT speaker sale.
It’s time for our NFT news tour. Are you ready for this? Let’s go.
First, a New York Times journalist got a pleasant surprise when he decided to auction off one of his articles as an NFT. A day later it was sold for 350 ETH (that’s almost .600,000 on Saturday) – and the proceeds went to charity.
Another big sale occurred when Twitter CEO Jack Dorsey sold a symbolic representation of his very first tweet for more than $2.9 million.
Google Trendsdata shows that interest in non-transferable tokens has reached levels last seen during the ICO craze of 2017. Lego has also hinted that it could be involved in the burgeoning sector, after it wrote a cryptic tweet that read Zeros and ones, but always a brick.
It wasn’t all good news, though. SEC Commissioner Hester Pierce, also known as Crypto Mom, warned that the sale of fractional NFTs could ultimately violate the Act because it could lead to the creation of an investment product.
Theta 3.0 core network launch was delayed until June, causing the token price to drop by.
This week, crypto esports streaming app Theta announced that it is delaying the launch of Mainnet 3.0 until June.
In an announcement, the company said it was still putting together some building blocks for the nonfiction token market. This is one reason why the code needs further review and testing, which explains the planned launch date of 21. From April to 30. June has been postponed.
The network added: While delays are never ideal, we believe this change is a reasonable way to successfully launch mainnet 3.0.
Theta investors were surprised by the announcement. The chip peaked Wednesday at $ $14.99 , but has fallen more than $ 25% in 24 hours.
Tech and Master of Coin – Elon Musk and Tesla’s CFO carry the newtitles
Forget Tesla, the CEO – Elon Musk has been promoted. According to a new SEC filing, the billionaire’s name is now Tesla Technology.
His CFO, Zack Kirkhorn, was also promoted to Master of Coin. Both men will maintain their respective positions.
Musk has reason to celebrate, and the numbers show that Tesla is sitting on $19 million in unrealized profit per day since he announced his $1.5 billion bitcoin purchase. That almost wipes out the $721 million profit from selling 500,000 cars in 2020.
The billionaire also delved into the hip world of non-fiction tokens this week by announcing he was going to sell the musical NFT, whose lyrics are based on the hype surrounding the technology – It’s tested, it’s guaranteed. Very catchy.
Although the platform Valuables bet more than $1.1 million , Musk then took his ball and tweeted: Actually, it’s not a good idea to sell this. It will happen.
It’s a disgrace.
Announcement of the week
Markets Pro offers up to 1.497% return on investment as quantum crypto analysis goes to everyinvestor.
One month has passed since the launch of Cointelegraph Markets Pro and every investor has received professional crypto analysis information on the market.
This week, new data showed that 41 of the 42 trading strategies tested by Markets Pro now outperform bitcoin in terms of return on investment, with 36 of them outperforming a uniformly weighted basket of the top 100 altcoins.
Two main features are offered to subscribers. The first of these is the VORTECS™Score, which is derived from an algorithm that looks at many different variables (including sentiment, tweet volume, price volatility and trading volume) and compares them to historically similar market patterns.
And the second is NewsQuakes™: Warnings about events that have historically had a significant impact on the price of an asset over the next 24 hours.
Cointelegraph Markets Pro is available exclusively to subscribers on a monthly basis for $99 per month or annually with two months free included.
Winners and losers
At the end of the week, Bitcoin stands at $55,261.18, Ether at $1,705.62 and XRP at $0.56. The total market capitalization is 1,739,387,070,168.
Among the top 100 crypto-currencies, the top three altcoins of the week are Dent, Ankr and AscendEX. The top three altcoiners of the week are: Avalanche, SushiSwap and Ren.
For more information on crypto currency prices, be sure to read Cointelegraph’s market analysis.
Most memorable quotes
By banning cryptocurrencies, India will be left with the lowest supply of its largest currency the world has ever seen.
Raj Chowdhury, Director, HashCash
Don’t try to act like Saylor won’t make a profit because he’s at every other fund on the planet. Then they will be more deeply redeemed.
Michael Saylor, Managing Director, MicroStrategy
I think they would probably ban [bitcoin] under certain circumstances, just like they have banned gold.
Ray Dalio, founder of hedge fund
Personally, I am not in favor of encouraging, asking, or trying to get us to contribute money.
Brad Smith, Chairman, Microsoft
Helping Elon Musk to a million dollars doesn’t mean much to the community.
Vitalik Buterin, co-founder of Ethereum
You made me a lot of money.
Jim Cramer, CNBC host
Bitcoin may reach $400,000 in 2021 as a risk-free reserve asset – Bloomberg
Mike McGlone, senior commodities strategist at Bloomberg Intelligence, believes 2021 marks a turning point for the world’s largest cryptocurrency.
He believes BTC is poised to become a global digital reserve asset and potentially a risk-free asset.
Based on past behavior, his analysis suggests that prices this year could peak at $ .400,000 $ . This figure dwarfs other estimates such as. B. the inventory structure model, which requires an average of $288,000 through 2024.
FUD of the week
Microsoft chairman says fintechs should leave money to central banks.
Microsoft chairman Brad Smith said fintech companies are not in a position to issue private digital currencies and argued that financial matters should be handled by central banks and governments.
Speaking at an online conference organised by the Bank for International Settlements, he said: Personally, I am not in favor of encouraging, asking or wanting us [tech companies] to be involved in the issuance of money.
These statements put Microsoft on the same level as Facebook, which is working on its Diem stablecoin project. The project, formerly known as Libra, has drawn sharp criticism from financial regulators, many of whom have warned that digital assets could pose significant risks to the global economy.
Instagram influencer accused of scamming $2.5 million from his Bitcoin followers
An Instagram influencer has been charged with wire fraud after he allegedly scammed his followers out of bitcoins worth $2.5 million.
Jay Masini, who had about a million followers and was known for giving away money, is accused of promising his victims that he would buy bitcoins from them at inflated prices. But he would not have transferred the money as promised when sending the crypto.
An FBI official said: A quick search on the internet today yields a very different picture of this millionaire scammer.
Masini is currently in custody on New Jersey state charges and will later appear in a New York court. He risks up to 20 years in prison if convicted.
The last jump is the deepest because the wife leaves her husband to buy more bitcoin.
And we end up with a pathetic story that bitcoin caused the breach.
1A man on Reddit claims his wife left him after he refused to sell his bitcoin when the price dropped to $60,000 – and even bootstrapped it during the recent price drop.
The user, u/Parking_Meater, said his wife had packed up and moved in with her sister.
He wrote: She’s super pissed that I didn’t sell for 60k and looks at the price and scolds me profusely. I keep telling him we don’t need money and we have it. We live well. But today she caught me buying gravy and she got so mad she almost hit me!
Best coin features
Is Microsoft doing bitcoin? It is unlikely that the return of BTC to the Xbox will serve as an impetus for the launch of.
While Microsoft’s introduction of Bitcoin to the Xbox Games Store could be a good sign for the industry, Shiraz Jagati thinks it probably won’t have much of an impact.
Crypto media is running with the bulls, with newcomers competing with established brands.
How has the bitcoin bull run changed the crypto media?
The Ethereum network à la carte: Can an upgrade of Berlin save the day?
Berlin’s upcoming update includes CIPs to reduce transaction costs, but this may not be a long-term solution.
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