This Week in Crypto: A Rocky Road
Ah, Sunday! The day of rest – or, in the case of crypto traders, the day of mourning. This week brought about a reality check across the crypto landscape as Bitcoin prices free-fell, dragging altcoins down with it. One moment we were dreaming of bull runs; the next, we were clinging to our wallets like they held the secrets to a high-stakes game of roulette.
Bitcoin’s Bizarre Rollercoaster
Bitcoin (BTC) took a nasty nosedive this week, plunging from a respectable $9,800 to a heartbreaking $7,736 in under a day. Analysts have tossed around theories like a sexy new salad recipe – while some pointed fingers at Bakkt’s shaky start, others pondered the political fracas in the U.S. adding to the panic. Sorry, altcoins, you weren’t spared either! Bitcoin SV (BSV) crashed by over 34% – I guess if you can’t beat the market, you might as well join it in total chaos.
Regulatory Dramas: Facebook & Kik Fighting Back
In the annals of “uh-oh” moments, Mark Zuckerberg has admitted that the Libra project has gotten a little too spicy for society’s palate. With the regulatory heat rising, he seems to be channeling a cautious rabbit rather than the bold bunny we knew five years ago. Meanwhile, Kik’s CEO, Ted Livingston, declared a war cry, vowing to battle the SEC until his pockets are empty. Talk about a real-life David vs. Goliath scenario! Let’s hope Ted has a slingshot ready that’s also backed by a solid legal strategy.
France Goes Crypto-Crazy
Breaking accents, folks! France announced that over 25,000 retail stores will embrace Bitcoin by 2020. Forget baguettes, croissants, and chic attire; it’s time to strut your crypto stuff in Peugeots and shops alike! Giants like Decathlon are joining the party – signaling a monumental shift towards our beloved cryptocurrencies – even with stern words from the European Central Bank about the
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