Once again we bring you the most important news of the week, especially from Bitcoin, to get you off to a good start on Monday.
This week in the crypto market was quite euphoric and entertaining thanks, for the most part, to the movements of Bitcoin (BTC). We told you everything you need to know to start the week off right.
Bitcoin price stable at $13,500, while other crypts are in red
Weekly crypto market summary
Bitcoin achieves supernatural strength
On October 27th we reported in Crypt Trend that Bitcoin (BTC) had managed to surpass its 2020 peak to stand slightly above USD 13,000.
We also pointed out that Michaël van de Poppe, an analyst at CoinTelegraph, explained that the leading crypto showed a clear zone of resistance between USD 13,000 and USD 14,250; this last level being the next big hurdle that the crypto market has to face before seeing BTC at USD 20,000.
However, after reaching its annual high of USD 13,859, on October 29th Bitcoin retreated slightly and took the rest of the crypto market with it.
Even so, the leading crypto was able to hold on to the $13,500; the same couldn’t be said for the rest of the crypto market, which remained in the red.
So, this week in crypto has been quite positive for Bitcoin. What does the next one hold?
MicroStrategy has made $100 million since it acquired Bitcoin
MicroStrategy falls more in love with Bitcoin every day
Leading crypto has certainly been driven by increased demand from large institutional investors such as MicroStrategy. Therefore, Bitcoin learned how to keep them happy.
Let’s remember that MicroStrategy invested USD 425 million in the leading crypto; an investment that motivated the entire crypto market. As it turns out, this week it was revealed that this investment has brought them $100 million in profits.
Also, Michael Saylor, CEO of MicroStrategy, said this week that Bitcoin „is a $250 billion solution.
That’s how Bitcoin has become more interesting every day, and that’s exactly what Grayscale revealed this week in its October report.
Bitcoin is almost 100 days over $10,000, so what’s next?
Leading Crypto to Turn 100 Days Above $10,000
That’s right, soon Bitcoin will be 100 days old and over $10,000; the longest time it’s ever been over that mark.
As we reported in CryptoTrend, the leading crypto has a pattern where, after spending more than 100 days above a level, the price is catapulted to a new level.
Will it do so this time? The next few weeks will tell.
Forbes leaks documents on how Binance dealt with US regulations
Crypto Problems of the Past Stalk Binance
In almost every week we can find some controversial or problematic news in the crypto market; this time it has been an alleged strategic document apparently made by Binance to deceive the regulators.
The news about the leaked document was published by Forbes this week; the article claims that Binance tried to communicate with those responsible, including CEO Changpeng Zhao, but they did not get an answer.
CZ responded on Twitter, mentioning the Forbes article and assuring that the document was not made by an employee or former employee of Binance. He added that anyone could have done it but that does not mean that Binance will follow it.
John Forbes Nash, could it be Satoshi Nakamoto?
New evidence, new possible Satoshi Nakamoto
This week a series of fairly credible evidence emerged that points to John Forbes Nash as the person behind the pseudonym Satoshi Nakamoto.
At CryptoTrend we have collected all the evidence that points to the possible identity of Satoshi Nakamoto.