February 20, 2024
5 min read

CryptoSpend Roundup - Weekly Newsletter (20 Feb 2024)

Author
George Chen

Welcome to the 4th edition of CryptoSpend Roundup, your trusted newsletter for the latest, up-to-date and insightful crypto news. As the crypto landscape continues to evolve at a rapid pace, our mission is to keep you informed about some of the latest developments, market trends, and opportunities.

Before we get into the news, here's the current market prices for our listed currencies:

With that out of the way, let's get into the news!

Bitcoin and Ethereum Market Surge

Bitcoin witnessed a significant increase, exceeding $79,000 AUD. Ethereum has followed suit, registering an impressive 11% increase in value, getting fairly close to the $4,500 AUD level. These trends reflects a strong bullish sentiment in the market during this period. Full article.

Predictions About Altcoin Prices Surging

Travis Kling of Ikigai Asset Management forecasts a significant rise in altcoin prices over the next 12-18 months, with Bitcoin and Ethereum potentially setting new highs. He attributes this to the introduction of spot BTC ETFs and a speculative shift in investment behavior due to economic pressures. Kling's analysis suggests a break from the traditional four-year crypto cycle, focusing on infrastructure without clear use cases. Full article.

Biden's Bitcoin Tease

President Biden's social media team posted an image of him with "laser eyes," a popular Bitcoin supporter symbol, sparking speculation about his stance on cryptocurrency. Despite the buzz, this move does not indicate Biden's endorsement of Bitcoin but rather seems to be a response playing into a broader unrelated conspiracy theory. Full article.

Mining Milestone: Bitcoin Difficulty Soars

Bitcoin's mining difficulty has surged past 80 trillion, setting a new record at 81.73 trillion amid anticipation for the upcoming halving event. This increase reflects a more challenging environment for miners, requiring greater computational power. The network's hash rate also reached a peak of 562.81 EH/s. With the halving set to reduce mining rewards in April, the landscape for Bitcoin mining continues to evolve, potentially impacting the network's hash rate and difficulty further. Full article.

Bitcoin Bust: Aussie Officer's Alleged Crypto Theft

An Australian federal police officer is accused by the NACC of stealing 81.62 Bitcoin from a Trezor wallet during a drug raid. The Bitcoins, worth $4.2 million USD now, were allegedly transferred to his possession using crypto tracing software. The officer, William Wheatley, denies the charges, amidst a backdrop of increasing success in tracing and recovering stolen crypto. Full article.

And that's a wrap!

This week in the crypto world has been eventful with Bitcoin breaking above $79,000 and Ethereum nearing the $4,500 mark, predictions about altcoins following this uptrend, some pre-halving mining activity, along with several other moments that likely nobody had on their 2024 Bingo list.

But that's all for this week's edition of CryptoSpend Roundup. We hope you found the information valuable and that it helps you stay ahead in the ever-changing crypto landscape.

If you have any suggestions or feedback for us, please feel free to reach out to our team :)

Happy CryptoSpending!

**All information in this article is for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained herein shall constitute a solicitation, recommendation, endorsement, or offer by CryptoSpend to invest, buy, or sell any coins, tokens, or other crypto assets. Any descriptions of CryptoSpend products or features are merely for illustrative purposes. Past performance is not a guarantee or predictor of future performance. The value of crypto assets can increase or decrease, and you could lose all or a substantial amount of your purchase price. It is essential for you to do your research and due diligence to make the best possible judgement, as any purchases shall be your sole responsibility.

Get the app

CryptoSpend Visa card supports both Apple Pay and Google Pay. Pay securely from your mobile device.

App has been sent to your device!
Oops! Something went wrong while submitting the form.
Send app to mobile