WhatsApp Image 2020-07-17 at 8.04.56 PM

TWITTER HACK (Bitcoin)! Explained!

BTCUSD trends lower but still without a large move to break out of the sideways pattern. Action is still mostly with the alts as LINK hits a new ATH + large rallies for XTZ and XLM.

Hackers shocked the world this week by taking control of numerous high profile Twitter accounts. The message would ask viewers to send BTC to a specific address to get back double the amount. This trick has been around long enough and the total BTC received was minimal. Can be fairly sure this wasn’t done to grab a few bucks, but rather to make mockery of a centralized platform like Twitter. The FBI investigation is ongoing..

In China, we finally see updates re: DCEP. Ride-sharing platform, Didi, and food delivery player, Meituan, will hold hands with the central bank to test the digital currency. For those who don’t know, CBDCs do not pose a direct threat to decentralized forms of money like Bitcoin as they are issued and fully controlled by central banks. The launch of DCEP should probably be favorable to overall crypto markets as it gets the average person more accustomed to digital assets. 

To end all FUD around the halving, BTC hashrate has hit another ATH. Difficulty was adjusted up another 10% this week causing temporary congestion to the network but a new ATH re-emphasizes the robustness of the Bitcoin economics. 


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