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May 20 23:46

CryptoNews of the Week

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- Instead of searching for a COVID-19 vaccine, European supercomputers were mining cryptocurrency. After stealing access data from service personnel, hackers installed malware for mining on several heavy-duty computers that were used to develop a coronavirus vaccine. The massive attack affected supercomputers in the UK, Germany, Switzerland and possibly Spain. The first case of infection was discovered on May 11 at the University of Edinburgh in Scotland. Later similar problems were identified at the German University of Ludwig-Maximilian, the Swiss Center for Scientific Computing and the Leibniz Computer Center in Bavaria. Computers had to be temporarily disabled to remove malicious software that was mining Monero coins.
- The yield of bitcoin this year is far ahead of gold. The precious metal has risen in value by 12% since January. The value of bitcoin has increased by more than 35% over the same period. According to experts from TradingView (a social network for traders), the volatility of the main coin was significantly higher, which affected the risks of buying cryptocurrency. But even so, the cryptocurrency market now looks significantly more stable than the stock market. Even the shares of the world's largest banks have lost significantly in price. For example, JPMorgan quotes fell by 37.2%, as a result of which BTC outperformed the bank in terms of market value growth by 300%. Wells Fargo shows the worst result among the study participants: shares of this bank collapsed by 55.3%.
"Even in the economic crisis, bitcoin has the status of one of the best assets to invest in. When the world begins to gradually come out of the current situation, the cryptocurrency market will retain superiority in certain industries. Other assets will be forced to earn credibility again," says Morgan Creek co-founder Anthony Pompliano.
- Analysts at the TIE (a company offering digital solutions) published a report that shows that Twitter users' interest in bitcoin has jumped to a historical high. The upward momentum has been recorded throughout this year, but a sharp spike has come in the run-up to May's halving. Over the past 30 days, the number of posts dedicated to the main cryptocurrency has skyrocketed to its highest point in 2.5 years. And the number of positive tweets significantly exceeds the number of negative mentions.
- China continues to lead in the ranking of countries in terms of computing power in the Bitcoin network. At the moment, just three mining pools, F2Pool, AntPool and BTC.com, account for 52.9% of Bitcoin hashrate (21.8%, 16% and 15.1%, respectively). Moreover, AntPool and BTC.com pools are part of the structure of the Chinese company Bitmain. So, it turns out that this giant and F2Pool together control the lion's share of the global Bitcoin mining. In this regard, a number of industry representatives have already sounded alarm about the reality of the threat of centralization of this “decentralized” cryptocurrency.
- According to the Anti-Terrorism Project, the ISIS terrorist organization banned in many countries stores more than $ 300 million in cryptocurrencies. "I calculated that from 2017 to 2020, the terrorists received about $300 million, which we were not able to detect, and cryptocurrencies can be used to hide them. This is really an ideal mechanism for hiding money. With proper organization, governments will not be able to locate or confiscate them,” wrote the director of the Anti-Terrorism Project, Hans-Jakob Schindler. The statement also says that in 2019, ISIS used cryptocurrencies to organize a terrorist attack in Sri Lanka. 250 people became victims of the attack then.
- The leading cryptocurrency is still unable to break through the $10,000 mark; however, this may change within 72 hours. This was stated by a well-known trader Tone Vays in a live broadcast on the ForkLog channel. "I believe that Bitcoin can go up very seriously. How high? Somewhere up to $12,000,” Vays said. And he added: "If we get stuck now and start falling to $9,000, I will expect us to fall below $8,000. If we break $10,000, everything will be fine.”
- Well-known cryptocurrency investor Tour Demister believes that Bitcoin can make another parabolic rally. In his opinion, the leading cryptocurrency is about to complete the phase of re-accumulation, followed by a powerful breakthrough in its exchange rate. “Bitcoin is fast approaching its second Golden Cross of 2020 - the intersection of the 50-day above the 200-day moving average (SMA). Last year, the Golden Cross led to an increase of 160%. After a false start in February, will BTC get lucky a second time?” - asked Demister.
- Bitcoin will be able to break above $20,000 within the next 18 months, according to eToro analyst Simon Peters. Moreover, the expert does not exclude the option in which BTC will test the value of $50,000, Bloomberg reports. The eToro analyst said that if the United States and many other states really move to negative rates, investment in Bitcoin will begin to grow rapidly. After that, taking the mark at least of $20,000 will already be inevitable.
- The entrepreneur and author of the bestselling book “Rich Dad, Poor Dad” Robert Kiyosaki believes that the Fed’s incompetence is killing the US economy, so the price of bitcoin will rise to $75,000 in three years. He said he had increased his investment in gold, silver, and bitcoin due to the intention of the US authorities to pour trillions of dollars into saving pension plans. We are talking about a bill on a new stimulus package for the economy, passed so far only by the U.S. House of Representatives. Forbes journalists noted that the section on assistance to pension plans assumes unlimited allocation of funds. “The economy is dying. The Fed is incompetent. Next is the infusion of trillions into pensions. Hope disappears,” Kiyosaki wrote.
- Cryptocurrency payment operator Cryptobuyer announced that Venezuelan residents will soon be able to pay with cryptocurrencies in 20,000 retail outlets in the country. As early as June, Central Madeirense supermarket chain, Farmatodo pharmacies, Cinemas Unidos and many other stores will start accepting BTC, ETH, DASH, LTC, BNB, USDT, DAI and Cryptobuyer own token - XPT.
- Hackers created a fake account of Google founder Sergey Brin on YouTube and promised to distribute 5000 BTC on his behalf. At a certain point, more than 100,000 people watched the live broadcast – an old speech by Brin was shown in a small window, and a fraudulent scheme was promoted against his background. The organizers traditionally offered to transfer from 0.1 to 25 BTC to their account in order to get twice as much. Note that such schemes were popular on Twitter in 2017-2018. The video and the channel are not available at the moment.
- “The creator of the Harry Potter novel series, Joan Rowling, who previously tried to figure out Bitcoin, said she was just “trolling Bitcoin in the hope of increasing her significant Ethereum assets.” True, this turned out to be a joke as well. This is how the writer responded to the speculation of some cryptocurrency media about her possible joining the bitcoin community.