Oktober 23, 2020

The price of Bitcoin flirts with 11K, why?

Bitcoin’s price is flirting with the 11K after a major purchase. Guess who from? You won’t believe it, we’re telling you!

After a few days of great stability for Bitcoin Fast Profit, the leading crypto finally gets a major boost and you won’t guess from whom.

Bitcoin Volatility (BTC) Lower than Ever

A $50 million crypto boost, who’s behind it?

The price of Bitcoin (BTC) has managed to reach levels above $10,800 and flirt with the 11K in the last few hours, after weeks of being quite bearish.

How? Why?!

Square, the payment company, has announced its latest investment today: $50 million in Bitcoin! Yes, the company has acquired 4,709 Bitcoin with 1% of the company’s assets.

„We believe Bitcoin has the potential to be a more ubiquitous currency in the future,“ said Square’s CFO, Amrita Ahuja.

The news prompted the crypto currency to briefly test the $11,000, and then to move a little below that level. This is how the leading crypto has managed to gain 2.28% during the last 24 hours.

According to Jack Dorsey, owner of Square and CEO of Twitter, more important than Square investing $50 million in Bitcoin is that they are sharing as they did in order to get others to do the same.

Will the price of Bitcoin exceed 11K? Or, on the contrary, will it face a big rejection?

Square invests $50 million in Bitcoin, find out about it and more

BitMEX CEO decides to resign after crypto controversy

The week before the crypto community controversy was what happened with the BitMEX crypto exchange, accused of operating illegally and without regulatory compliance.

Now, the executive director, Arthur Hayes, has immediately withdrawn from all executive management responsibilities along with Samuel Reed, chief technology officer.

„These changes in our executive leadership mean we can focus on our core business of providing superior business opportunities for all our customers through the BitMEX platform, while maintaining the highest standards of corporate governance,“ said David Wong, president of 100x Group.

Week in Crypto: BitMEX and Donald Trump caused tension in the markets

Centralized Ethereum Nodes?

This time it is Anthony Pompliano who has set up the most recent crypto debate in social networks. Specifically, the podcast host discussed that much of the Ethereum network is hosted on third-party cloud servers such as Amazon Web Services (AWS).

Pompliano’s debate begins on Twitter by responding to a tweet from Jeff Bezos claiming that he could „shut down most of these Ethereum-based DeFi applications by simply closing AWS. You’re not decentralized if you just spin the servers with Uncle Jeff!

Camilla Russo, founder of The Defiant, responded to the crypto debate by pointing out that, certainly, „Ethereum nodes could definitely be more decentralized. Still, the facts do not support this argument.

According to Russo, only 33% of Ethereum nodes run on AWS.

Price of Ethereum Continues to Maintain Profits, May Soon Awaken

Christie’s auctions its first crypto artwork linked to an NFT

As previously reported in CryptoTrend, the auction of ‚Block 21‘, a crypto artwork linked to a non-expendable token (NFT), took place yesterday. This piece was sold for $131,250 at an auction at Christie’s.

This established a new record price for an NFT; the previous mark was $105,000 a month ago.

Christie’s to auction Bitcoin’s first massive artwork

In a few lines…

Apple is asking Telegram to remove three channels used by protesters in Belarus.
Brian Armstrong, CEO of Coinbase, announced that 5% of employees working for the crypto exchange opted for an exit package after the CEO said they should separate policy from work.
According to CoinTelegraph, Bitcoin’s addresses were increased thanks to a crypto advertising campaign carried out by the authorities of the People’s Republic of China.