New TradeSanta’s weekly digest is right here. We have collected the hottest stories of the past week in cryptocurrency and blockchain spheres. So, here they are:
- AT&T failed to win crypto “SIM-Swap” lawsuit;
- The U.S. Internal Revenue Service notified crypto hodlers that they need to pay taxes on their crypto;
- Dan Morehead, founder of Pantera Capital predicted that Bitcoin may hit $42,000 by the end of this year.
Cryptocurrency Market Stats
Market capitalization crushed down to 264 billion USD, and lost more than 6% over the last 7 days.
|Stat||Value (7d change)|
|Market Cap||$ 264 671 485 490 (-6.96%)|
|Markets||19 580 (+0.52%)|
|Cryptocurrencies||2 391 (+1.14%)|
|BTC Dominance||64.5% (-0.8%)|
Major Coins’ Price Stats
According to the Coinmarketcap data, Bitcoin and other major cryptocurrencies went into red last week. After weeks of steady gains, BTC dropped in price by more than 9%. XRP price is down 5%, and ETH – by 6%.
|Coin||Close||7d Gains||7d High||7d Low|
|Bitcoin||$9 552.86||-9.87%||$10 580.51||$9 252.30|
Quote of the Week:
Changpeng Zhao, Binance CEO: “Cryptocurrency will survive regardless of any one country. Most countries that try to ban bitcoin cause their citizens to want cryptocurrency more.”
In Case You Missed It:
- A federal judge in Los Angeles, California rejected AT&T telecommunications company requestto reject all Michael Terpin’ requests. He sues AT&T for over $224 million over “SIM swapping” thief. According to CNBC, AT&T not once, but twice allowed hackers posing as Michael to obtain his SIM card. Criminals had stolen his phone number. His number was later used to access Terpin’s cryptocurrency accounts, and then $24 million worth of cryptocurrency were stolen.
- The U.S. Internal Revenue Service (IRS) started sending letters to taxpayers who hodl cryptocurrencies, offering to pay taxes and edit their tax returns. According to Coindesk, the IRS further added that it will send these letters to “more than 10,000 taxpayers” by the end of this month,” adding that “the names of these taxpayers were obtained through various ongoing IRS compliance efforts.”
- Pantera Capital founder Dan Morehead told Unchained Podcast that Bitcoin could hit $42,000 by the end of 2019. He predicted that BTC has a great potential to reach $356,000 within a couple of years, and added: “It’s right on the trend line, and I think it’s a good shot that by the end of the year, we hit that, and then if you just extrapolate that line out for another year, it’s 122,000 USD per Bitcoin and in one more year $356,000.”
That’s all for today. Don’t forget to subscribe, share if you like it, and stay tuned for further posts from TradeSanta team!