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Hacked KuCoin, Ill-Fated BitMex, COVID-Infected Trump, All-Time High Stocks & Upcoming US Election; Are You Ready?

Analyzing few past weeks with respect to few upcoming weeks, our world is in extreme buzz. How will this impact the price discovery of bitcoin and cryptocurrencies? Let’s take a tour!

  • Hacked KuCoin: Almost 150 million dollar worth of cryptocurrency was stolen from KuCoin last week. In the new update, 13 million dollar has been laundered through decentralized exchanges like Uniswap and Kyber while 9 million dollar has gone to centralized exchanges. This hack did not tickle the price of bitcoin.
  • Ill-fated BitMex: Legal proceedings has been initiated by US Commodity and Futures Trading Commission (CFTC) along with the Federal Bureau of Investigation (FBI). CEO Arther Hayes will be facing some huge fines. This news triggered the price of Bitcoin to fall from $10,900 to $10,400.
  • COVID-Infected Trump: Yesterday US President Trump confirmed that he has been tested positive for COVID-19. This news caused slight dip in the market worldwide. But every market seems to hold the news to comprehend the future outcome. Bitcoin price dropped from $10,600 to $10,400.
  • All-Time High Stocks: US Stock market is still hovering around all-time high even though COVID-19 impact is still intact. Where will the stock market goes in this depressing economic turnover?
  • U.S. Election: Everyone is looking into upcoming US election in November. The outcome between Trump and Biden will decide the direction of almost all market worldwide. Can Fed print more and more money to balloon the market even after the election? What will happen if Biden wins? Are we awaiting great recession ahead?

Whatever happens, keep buying bitcoin. Because that’s the only right way.

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Krishna
Krishna is an initial CDT member of RECAP blockchain network; a crypto enthusiast who has worked on multiple startups since 2013.
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