Top 5 crypto news of the week

What crypto news touched us this week? Find our top 5 crypto news of the week every Saturday.

Bitcoin has failed to build significant strength for months. Top analysts therefore now expect new pain for the number 1 cryptocurrency. How quickly can bitcoin recover from this?

How much is 1 whole bitcoin?

1 whole bitcoin (BTC) is currently trading at $18,914 after a decrease of 0.97% in the last 24 hours (data from Coinmarketcap.com). The world’s most valuable cryptocurrency is a whopping 72% off its previous all-time high. It is equivalent to $68,789 and was marked on November 10, 2021.

Can we return to the heights? That’s the big question on many crypto investors’ minds right now. Although many analysts believe a return to the peak is likely, it is unclear how quickly this could happen.

Most recently, there was hope in the interest rate decision from the US central bank – however, their increase in the key rate of just 0.75 percentage points was not able to boost the crypto markets as expected. On the contrary. Bitcoin and Co. has responded with a correction.

Nevertheless: In the long term, many industry observers remain positive. In the short term, however, BTC could correct again, according to two popular analysts.

The price of the cryptocurrency XRP has risen exponentially over the week, rising over 63% in value. The successful breakout has moved XRP up one position and is now in 6th place among other cryptocurrencies.

Will XRP keep going up? XRP is available on eToro.

XRP Ripple Price Prediction 2022

A look at the XRP crypto price charts shows that the recent price surge has resulted in a critical resistance level being breached. Earlier today, XRP was trading at $0.46 and it fell a key support level of $0.51.

XRP was previously rejected at the yellow resistance trend line. However, on this particular occasion, the bulls were able to retest and break through the resistance, sending the price of XRP higher to $0.55.

For the past 105 days, XRP has been trading within a consolidation pattern known as the horizontal channel that has formed a huge double bound bullish reversal pattern within it.

Do Kwon, co-founder of Terraform Labs and Terra Network, have returned to Twitter, even as prosecutors in South Korea now freeze their bitcoin (BTC) and crypto assets — while TerraLunaClassic (LUNC) prices continue to take holders on a bumpy ride.

Yesterday, the Financial and Securities Crimes Division of the Seoul South District Prosecutor’s Office confirmed that Interpol had issued a red notice. The announcement is a high-level request to law enforcement officials worldwide to locate and arrest Kwon pending his extradition, surrender or similar legal action.

YTN reported that five other Terraform executives, including the company’s CFO, are also on Interpol’s “Red Notice” list.

But the defiant Kwon appeared unfazed by the development, telling his Twitter followers that he is “not hiding” and regularly “walks around malls” – although he was hesitant to reveal his exact whereabouts.

Cryptocurrencies are becoming more and more popular as an investment, as they work decentralized from the banking system and are considered relatively inflation-proof. According to statistics, there are currently 9,974 cryptocurrencies and it feels like a new one is added every day. The meme coins are particularly popular among investors, not least since Elon Musk discovered his love for Dogecoin and since then has happily influenced the price with his tweets. Meme coins are primarily cryptocurrencies like any other. Nevertheless, the fun currencies have a higher sympathy factor among investors than, for example, “serious” cryptocurrencies such as Ethereum or Bitcoin. A dog, especially a Shiba Inu, often graces the meme coins. Now, with Tamadoge, a new meme token has set out to conquer the crypto world.

Tamadoge – the new meme coin that is somehow different

At first glance, Tamadoge may look like any other meme coin. The front of this token is also a Shiba Inu, but in a trendy pixel retro look. But if you take a closer look at the coin, you quickly realize that Tamadoge is a meme token, but somehow different.

To the Tamadoge-Telegram group to not miss any news

The meme coin with use case

There is the use case. Tamadoge is the original character of his own Metaverse, called the Tamaverse. “But the Dogecoin also has a use case, it functions as a means of payment,” one or the other reader may now object. That’s true, but the options for paying with DOGE are, to say the least, quite limited. Floki Inu has his own metaverse, but it has little to do with the cute Shiba. The Tamadog is deeply rooted in his Tamaverse, where he serves, among other things, as a means of payment. Among other things, the Tamadoge pets can be bought.

Forecasts should actually give us orientation to better assess the future. But the future doesn’t always live up to what experts hope it will. The best example is the case of the crypto miner Compute North. As recently as last fall, the company’s CEO predicted a bright future for mining.

The past three years have provided ample opportunity to rant about the accuracy of forecasts. Now it has also hit a mining giant. Instead of being happy with a further strong increase in the Bitcoin mine hash rate, the scene is experiencing an unprecedented downturn.

The predictions were way off the mark

The growing industry, predicted by Dave Perrill, is instead going through hard times. Nothing came of the cheap energy; instead, inflation, the pandemic and the fear of war are crippling the economy. Compute North has now felt this bitterly.

The mining giant is struggling with rising energy costs and falling Bitcoin prices at the same time. Compute North was once considered one of the largest data center providers for cryptocurrency mining. But the gold rush is over for now. The company has now filed for bankruptcy in the United States.

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