The most important news this week
Bitcoin is about to break the seven-month downtrend
It has been a troubled week for the world’s largest cryptocurrency, which is on the verge of breaking out of a long-term downtrend. Despite the rise of BTC to $ 8,400 a few days ago – the next resistance area, according to analysts – prices have since fallen to the $ 8,000 level. This leads to speculation that the geopolitical instability, fueled by the growing tensions between the United States and Iran, may be the cause of the surge. Data from Google Trends showed that the search term “Bitcoin Iran” increased 4,450% in the seven days leading up to January 8. Also this week, Fundstrat Global Advisors suggested that BTC has the potential to achieve 100% returns for investors in 2020 – and prices may go up dramatically in the past five and a half months in May.
The President of the European Central Bank is pushing towards the central bank’s digital currency
European Central Bank President Christine Lagarde said she supports the institution’s efforts to develop a central bank digital currency that will facilitate cross-border payments faster and cheaper. She revealed that the European Central Bank continues to “assess the costs and benefits” of this asset, as this will enable the public to continue to use the central bank’s funds even when old coins and banknotes drop. Adding a caution note, a European Central Bank spokesman Cointelegraph said that “it will take some time” before its in-depth analysis on CBDC. Countries around the world are racing to launch their own digital currencies – and this week, the People’s Bank of China said work on its own digital yuan was “going smoothly”.
The court rejects the Supreme Education Council’s request to have Telegram reveal ICO Bank records
A New York judge rejected a request from the U.S. Securities and Exchange Commission to Telegram to disclose her bank records. There is no doubt that Telegram’s lawyer will breathe a sigh of relief because the request was removed. The Securities and Exchange Commission is trying to figure out how Telegram spent the $ 1.7 billion raised during its initial offer of coins in 2018, but the company said the request from the regulator was a “baseless fishing trip.” , Because he still has to prove that his bank records comply with foreign data privacy laws. The messaging platform said that this review will take up to seven weeks to prepare.
Former Jebel Gox CEO Mark Karpeles is seeking a long-term lawsuit
Former CEO of defunct BTC Exchange. Gox began efforts to end the litigation that a previous user had exchanged for exchange again in 2014. Mark Carbles says he has the right to judge summary actions because Gregory Greene, the chief prosecutor, admitted that his initial claims were either incorrect or unaccredited. The defendant’s attorneys wrote: “It is time to conclude this entire case.” Green Karls lawsuit is charged with criminal diversion and fraud, and claims that Mt. Gox continued to accept deposits even while customers were having difficulty withdrawing their money. Mount Gox collapsed in 2014 when about 800,000 BTC was stolen – at least 700,000 of which were customers.
Binance Charity launches relief efforts for Australian forest fires
Binance charity donates $ 1 million in BNB codes to Bushfire Donations project in Australia. The pledge made by the charitable arm of the major currency exchange comes as the country struggles to face the devastating fires that have killed tens of people, destroyed thousands of homes and burned vast tracts of land. Binance Changpeng Zhao CEO invited the entire crypto community to extend its support as the fires continue to fire.
Winners and losers
At the end of the week, Bitcoin is $ 8,177.14, Ether is $ 145.01 and XRP is $ 0.21. The total market value is 218,244,671,194 dollars.
Among the top three winners this week are Aave, GoChain and Chimpion. The first three losers this week are Synthetix Network Token, ABBC Coin, and Quant.