Bitcoin’s comeback, XRP doubles in a week and other news

Bitcoin suddenly hits $60,000 as a new resistance battle liquidates $850 million

View this email in your browser One week in review:  April 4–10 We've selected the hottest materials of the past week for you to stay up to date with the latest crypto news: #1. Bitcoin suddenly hits $60,000 as a new resistance battle liquidates $850 million A bout of long-overdue volatility has hit the crypto markets, propelling Bitcoin to highs of $61,276.67 on Saturday. A sudden push allowed BTC/USD to exit the $50,000 price range in the early hours of the morning. This move had been weeks in the making, with the digital asset repeatedly trying (and failing) to break $60,000 for most of March. Quant analyst Lex Moskovski said Bitcoin is now grinding up to a new all-time high, writing: "Being a bear is expensive." But it's unclear how much staying power this rally has, and as we've seen over recent months, erratic market movements over weekends don't always endure. Read more #2. XRP surpasses $1 for the first time since 2018: What's behind the new rally? XRP is currently trading above the next resistance level at about $1.20, prompting some to set their sights on a macro sell-wall of $2 that dates all the way back to December 2017. XRP has now regained the coveted position of the fourth-largest cryptocurrency by market cap. The uptick in trading volume may have been linked to Ripple unveiling a new acquisition designed to enhance its cross-border payment capabilities. There was also some upbeat legal news for Ripple this week. Ripple Labs has been granted access to the SEC's documents "expressing the agency's interpretations or views" on the subject of crypto assets. Counsel representing Ripple's CEO, Brad Garlinghouse, believes it may be "game over" for the SEC's suit should they find any evidence that the regulator has deemed XRP akin to Bitcoin or Ether. Read more #3. Coinbase's first-quarter revenue hits record $1.8 billion ahead of its Nasdaq listing Next week is shaping to be a significant one as Coinbase gears up to make its stock market debut. And ahead of Wednesday's direct listing, we got an insight into the company's finances — revealing that revenues hit $1.8 billion from January to March. The exchange's numbers seem very healthy, indeed, undoubtedly because of the bull run that emerged during the first quarter. Net income has been estimated at between $730 million and $800 million for the period — with monthly active users now exceeding 6 million. But not everyone is cracking open the champagne. Some analysts have warned that Coinbase's $100-billion valuation is far too high. Read more Don't stop reading! It's important. This is your moment. This is when you finally decide you're going to do something with your money — make it work for you. You're ready to level up your game and take charge of your finances. Click the link below and start investing. You know about crypto. You believe in its potential. Time to make your knowledge count. Join eToro and grab the bull by the horns This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & eToro USA LLCeToro USA LLC; Investments are subject to market risk, including the possible loss of principal. Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk. #4. Prediction of the week: Ark Invest and JPMorgan expect Bitcoin to hit $130,000–$470,000 JPMorgan Chase expects Bitcoin to reach $130,000, while Ark Invest anticipates the market valuation of BTC to surpass that of gold. The optimistic macro prediction from both funds revolves around the scarcity of Bitcoin, which has buoyed its popularity as a safe-haven asset. Bloomberg Intelligence also has high hopes when it comes to the second quarter of 2021. This week, it predicted that the second quarter was more likely to deliver a further surge to $80,000 than a capitulatory move to $40,000. Read more #5. FUD of the week: Bitcoin to zero? Not while this Redditor has $187,000 to spend Reddit user u/Substantial-Ad-5012 wrote: "Bitcoin will never go to zero in my lifetime. Because I am willing and able to buy all the Bitcoin ever mined at one cent each." In the unlikely event that Bitcoin does in fact drop to $0.01, it would cost a mere $187,000 to pick up every coin in circulation — not accounting for the fact that up to 20% of all Bitcoin are inaccessible. Read more #6. FUD of the week: Paxful denies reports of customer data leak An anonymous online source was recently spotted trying to sell private customer and employee data allegedly obtained from crypto exchange Paxful. However, a spokesperson from the company has told Cointelegraph that no customer data has been jeopardized. Explaining that Paxful hasn't fallen victim to a data breach, the spokesperson added: "The employee data that the person claims to have was obtained illegally from a third party supplier that Paxful previously used; Paxful terminated its contract with this supplier in September 2020." The person attempting to sell the information claimed to have phone numbers, names and addresses, as well as other private information belonging to users — and the "dump" purportedly boasted more than 4.8 million entries. Read more Feel free to explore the most important news with Hodler's Digest: Read more 1.5 million people follow us on social media Download our official app:

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