The week was filled with numerous stories that continued to shape the rapidly evolving landscape of the cryptocurrency market. From predictions of a potential plunge in Dogecoin’s value to the Israel-Hamas conflict’s impact on the crypto markets, the weekend was anything but quiet. The following round-up provides a quick snapshot of the key stories.
Dogecoin’s Future: Bullish or Bearish?
Cryptocurrency analyst Nicholas Merten has expressed concerns about the future performance of Dogecoin DOGE/USD, Elon Musk’s favourite coin. Merten suggested in a YouTube video that the trajectory of Dogecoin lacks the typical bullish characteristics seen in a bull market, hinting towards a significant correction. Read the full article here.
Israel-Hamas Conflict: Crypto Market Unfazed
The Israel-Hamas conflict has escalated, resulting in numerous casualties and drawing global attention. However, the cryptocurrency market remains largely unaffected by this geopolitical crisis, demonstrating the resilience and decentralization that are core principles of cryptocurrencies. Read the full article here.
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Sam Bankman-Fried’s Concerns Before FTX’s Collapse
Former CEO of FTX, Sam Bankman-Fried, had several concerns before the crypto exchange’s collapse, as revealed by court testimonies. These included competition from Binance and the need for capital generation. Read the full article here.
Israel Seizes Hamas Crypto Accounts
Israeli police have halted cryptocurrency accounts associated with the Palestinian group Hamas, following an attack on Israel by Hamas. Collaborative efforts with the cryptocurrency platform Binance were instrumental in pinpointing these accounts. Read the full article here.
Musk, Dogecoin Co-Creator Slam SEC’s Stance on Crypto Value
Tesla CEO Elon Musk and Dogecoin creator have criticized the Securities and Exchange Commission (SEC) for contending that cryptocurrencies, like Bitcoin BTC/USD and Ethereum ETH/USD, lack any "innate or inherent value.” The comments were made in response to a federal court case against Coinbase. Read the full article here.
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Crypto Photo by Wit Olszewski on Shutterstock
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