• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
Breaking News: Breaking: SEC Sues Binance And CEO For Alleged Securities Fraud
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
Bitcoinist.com
No Result
View All Result
Breaking News: Breaking: SEC Sues Binance And CEO For Alleged Securities Fraud
sunday bitcoin news digest

Sunday Digest: Bitcoin Price Rally And The Weeks Top Headlines

Emilio Janus by Emilio Janus
4 years ago
in Bitcoin News, Bitcoin, Bitcoin Price, News, News teaser
0

This week, a string of Chinese hitmen were jailed after each subcontracted the next to carry out an assassination. The final hitman colluded with the target to fake his death, thus getting the whole lot caught and imprisoned. Thankfully not everyone in China is incompetent. President Xi Jinping did a great job of pumping Bitcoin this week, albeit perhaps unintentionally.


Bitcoin Price

For a week which had some heart-stopping moments, things seem (touch wood) to be ending well for BTC. So how did it all pan out?

The beginning of the week saw what turned out to be a false start for bitcoin price, though it got us all excited at the time. BTC bounced back above $8,200, and suddenly perhaps McAfee’s new $2 million predictions weren’t so crazy.

Tightening technicals were signaling a big move, and PlanB confirmed that the stock-to-flow model still put us on track for a $100k bitcoin price in 2021.

And then came the two-stage flash crash. First, we dipped back under $8k, wiping out the week’s gains in one fell swoop. Then we took a $500 dollar hit down to $7500. Was this pattern of sideways trading, followed by big moves, down to  day-traders pumping and dumping? Or could a drop in network velocity have caused the crash?

Whatever the cause, time seemed to be running out for the (so far incredibly accurate) 4Chan ‘wizard’ prediction of a $16k bitcoin price by the end of October.

And then President Xi bigged-up blockchain and price bigged-up with it. The gains came super fast, clocking up a 13% jump in just ten minutes. But by the end of the rally price had surged over 40% for its fourth-best day of all time.

It also lent itself nicely to a July prediction, which would now see us entering a bullish ‘wildcard’ rally. We can only wait and see. Maybe that 4Chan ‘wizard’ may be proven right yet?

News In Brief

At least somebody seemed to benefit from the midweek flash crash. Bakkt reported record trading volumes on its physically-backed futures offerings. Although some questioned whether Bitcoin futures could just be one big market manipulation scheme.

Also, Bakkt related, Mike Novogratz suggested that the company’s new custody solution coming online could see prices go up to $10k… just before they did.

Google (questionably) claimed that it had achieved ‘quantum supremacy’ with its Sycamore quantum computer. A back-of-an-envelope calculation suggested that it had the power to mine all the 3 million remaining bitcoin in 2 seconds.

Russian authorities said they would ban Facebook if the US blocked the company’s proposed Libra ‘cryptocurrency’.

And Finally…

Earlier in the week, Bitcoinist lamented the continued radio silence of much-loved bitcoin-championing former serial-tweeter, Max Keiser. Whilst Max continues to host his regular Keiser Report on RT, it has now been over a month without a tweet for the previously-20-a-day man.

Bitcoinist‘s erstwhile impressive track record in luring industry figures back to social media has so far not succeeded with Max. We guess sometimes you just have to go cold turkey. But we’ll be here waiting when he does return, and it’ll be good to see him back.

Did you reap the benefits of hodling in this latest bitcoin rally? Let us know your thoughts in the comment section below!


Image via Shutterstock

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Emilio Janus

Emilio Janus

Related Posts

Bitcoin BTC BTCUSDT

Ugly Picture: Macro Pressure Will Crush Bitcoin’s Price? BTC Could Return To This Level

7 hours ago
bitcoin gold standard

The Bitcoin Standard: Celebrating 90 Years Since US Goes Off Gold

8 hours ago
crypto

Top Crypto Strategist Shares Alarming Bitcoin Price Forecast

3 days ago
Bitcoin

Current Bitcoin Cycle Has Broken This Fee Pattern For The First Time

4 days ago
Bitcoin BTC BTCUSDT

Fed’s Predicament is Bitcoin’s Opportunity: Why New Highs Are Possible In 2023

4 days ago
Crypto founder and bitcoin millionaire found dead

Bitcoin Millionaire Founder Found Dead After He Was Reported Missing

4 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Play Finance

Now Trending

  • Whale Power Unleashed: Mooky Emerges as the Rival Meme Coin...

    4 days ago
  • Exploring the Meteoric Rise of Mooky: Could It Be the Next...

    5 days ago
  • Discover the Next Big Thing: Mooky.io Presale Boasting Fair...

    5 days ago

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit
1xBit
1xBit
K8
K8

Press Releases

  • Rollman Mining Marks Its Ascent as the World’s First...

    11 hours ago
  • Top Crypto Whales Think DigiToads (TOADS) And Monero (XMR)...

    11 hours ago
  • XT.com Lists NORDEK ($NRK) in its Main Zone

    11 hours ago
  • Hedera (HBAR) Investors are now Turning Their Attention to...

    13 hours ago
  • How a College Dropout Turned $200 into $2 Million with...

    17 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance

© 2023 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.