Weekly Crypto Recap with NewsCrypto
Welcome back, NewsCrypto enthusiasts! It's time for another edition of the NewsCrypto newsletter.
Do you regret not buying Bitcoin earlier? You at least have an excuse that you didn’t hear about it.
Now think about the guy who had quite a bag of Bitcoins but just wasn't a hodler nor was a NewsCrypto newsletter subscriber do he bought TWO PIZZAs for 10.000 $BTC, equivalent to $268.000.000 at the current price!
For that price he could have owned over 6 million copies of Shrek or over 500 Lamborghinis… you can prevent the same happening to you by subscribing to this newsletter.
What's on the menu today?
1. Breaking Crypto News
2. BTC TA Analysis
3. Ledger's New Key-Recovery Feature
4. Funniest Meme of the Week
News Recap
· While Biden is against crypto RFK Jr. - nephew of JFK, embraces it and even accepts Bitcoin as donations for his presidential campaign.
· 21-year old French citizen arrested for buying a Ferrari with Bitcoin in Marocco where holding and trading crypto is illegal.
· Hacker took control over the Tornado Cash DAO and its governance token $TORN.
· A man's attempt to hide $500.000 in Bitcoin from his wife, failed, leading to a divorce settlement claim for half.
· Hotbit, an exchange with 5 million users, announced the suspension of operations - withdraw your assets before June 21!
Do you want to read more about each piece of news?
Check out the News section on our educational platform here
Bitcoin TA analysis
· Crypto Fear and Greed Index update
· Bitcoin Daily Time Frame
Over the past week, Bitcoin's price movement has been relatively stagnant, with minor fluctuations that have kept it within a narrow range.
This period of stability is somewhat unusual for the typically volatile cryptocurrency market. The price neither hit any significant highs nor experienced any drastic lows, maintaining a steady course throughout the week.
This kind of sideways movement often indicates a period of consolidation, where the market is seemingly deciding its next direction. Investors and traders are advised to keep a close eye on the market, as periods of low volatility often precede more significant price movements. As always, it's crucial to stay informed and make decisions based on careful analysis.
Ledger's New Key-Recovery Feature goes against principles of a cold wallet.
In the world of crypto, Ledger has stirred up a storm with its new key-recovery feature, Ledger Recover.
The company thought it was a brilliant idea, like inventing a parachute for skydivers who forget to pack one. But critics are less amused, arguing that this feature is as compatible with the concept of a hardware wallet as a fish is with a bicycle.
Ledger Recover allows users to share their seed phrase (a sequence of words used to recover a lost wallet) with a set of trusted custodians - Ledger, Coincover, and EscrowTech. They will store users’ sharded and encrypted backups for a monthly fee.
Ledger insists that things are as secure as a bank vault, but the crypto community is skeptical, pointing out that Ledger's new offering contradicts its past statements about keeping private keys off the internet. It's like a vegan restaurant suddenly offering a steak special.
The situation has sparked a debate about trust, privacy, and the ethos of crypto. But Ledger CEO Pascal Gauthier remains optimistic, saying, "This is the way that the next hundreds of millions of people will actually be onboard to crypto." So, it seems Ledger is betting on the future, even if it means ruffling a few feathers in the present.
Funniest Meme of the Week
