One week in review:
Jan. 13–19 We've selected the hottest materials of the past week for you to stay up to date with the latest crypto news: | | #1. Bitcoin ready to push above key resistance and hit $10,000 | | | The world's biggest cryptocurrency has started 2020 with a fight. For a time on Friday, Bitcoin hit $9,000 — with analysts claiming there are multiple signs that a "bullish transformation" is underway. This weekend also saw the BTC network's mean hash rate hit new all-time highs, meaning it's never been harder to mine new coins. Although BTC fell from highs of almost $9,200 on Sunday to hover at about $8,600, analysts believe it is ready to push above the resistance and hit $10,000. | | #2. New analysis finds Mondays are best days to buy Bitcoin | | | Mondays are enough to fill many of us with dread, but there might be a bright spot. Research shows that Mondays actually offer the best average daily return for Bitcoin at 0.54%, while Wednesdays attract a loss of about 0.23%. This is based on an analysis of the cryptocurrency's performance from April 2013 to January 2020. | | #3. Singer Akon says world's first "crypto city" is set for Senegal in 2025 | | | Akon says he had finalized an agreement to launch a "crypto city" in Western Africa. Akon City is expected to open its doors in Senegal by 2025, and vows to be a "100% crypto-based city with Akoin at the center of transactional life." The metropolis is being built on 2,000 acres of land gifted to the project by Senegal, and the first phase of construction is scheduled to finish in about five years' time. Rest assured, we'll give you plenty of updates on how the project progresses. | | #4. Prediction of the Week "Weak hands are out" — Trader who called $20,000 Bitcoin top calls bottom | | | Waiting for prices to dip to $6,000 before you invest in Bitcoin? You've missed your chance, according to Peter Brandt. The veteran trader — who successfully predicted in early 2018 that crypto markets would fall 80% from their all-time highs of $20,000 — struck a bullish tone during an interview with Cointelegraph. "The weak hands are out; the strong hands own it," he surmised. | | #5. FUD of the Week U.S. SEC warns investors that IEOs may be breaking the law | | | The United States Securities and Exchange Commission has warned that initial exchange offerings may be breaking the law. After the initial coin offering boom turned into a bust, many projects have taken to launching their tokens directly on exchanges. But the regulatory body says: "Be cautious if considering an investment in an IEO. Claims of new technologies and financial products, such as those associated with digital asset offerings, and claims that IEOs are vetted by trading platforms, can be used improperly to entice investors with the false promise of high returns in a new investment space." | | #6. FUD of the Week Singapore crypto consultant kidnapped for $1-million ransom | | | A businessman was recently kidnapped in Thailand and tortured for a $740,000 ransom in BTC. Mark Cheng transferred all his available funds of $46,000 to his captors and reportedly made a daring escape as they prepared to murder him. He was on a business trip to Thailand when he was bundled into a truck by masked men. A Thai actor is believed to have owned that pickup truck, and police have now identified him as a person of interest in their investigation. Describing his escape, Cheng said: "One of them held the gun against the back of my head while the others stepped away. Fortunately, I know martial arts. I reached behind my head and grabbed the pistol, and then I fled." | | Feel free to explore the most important news with Hodler's Digest by Thomas Simms:
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