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Let's Talk Bitcoin This Week
BTC danced with an all-time high this week only to plummet by 12%, or in cash terms $2000 in a matter of hours. You've most likely heard that bitcoin nearly reached its all-time high of $20k, which occurred back in 2017 and was only $500 away from meeting its 2017 all-time high this week! There has been plenty of speculation around the rising price of Bitcoin this month. Most of the attention has been with institutional investors becoming more interested and active in Bitcoin as crypto as well as fresh investors rushing in to get a slice of the digital pie.
So, what caused the plummet? Traders would have made up to a 20% gain by buying the dip this month and selling at the $19,000+ price point. An attractive profit gain for traders and investors caused a large amount of the digital asset to be liquidated and profits are taken. With BTC at a tipping point, a cool down is healthy and expected
Ethereum 2.0's 'phase 0' Will Commence Dec 1st
With the upcoming Ethereum 2.0 / Eth2 consensus change, the Ethereum network will be implementing PoS for and Shard Chains for energy consumption, scalability, and security improvements for the Ethereum blockchain. There have been some doubts as to whether the first upgrade 'phase 0' of Eth2, will commence on the deadline they've provided, as the dates have been pushed back in the past. However, the good news hits the headlines today, the Etherum network has announced 'Phase 0' is going ahead on December first.
XRP Doubles in One Week
Some interesting statistics have surfaced this week around the Ripple token. According to Google trends, The third-largest crypto asset (by market capitalization), XRP, has had a huge amount of growing interest. The highest number has been recorded in the last 2 years and has doubled since last week alone. The upcoming SPARK air-drop could be a contributing factor to XRP's latest mini-bull run.
Blockchain Meets Royalty
The Queen of England Elizabeth II, has apparently been left 'delighted' after she received the first open-access blockchain research publication, in both print and online. She sent a letter back to The British Blockchain Association thanking them for enlightening her on Decentralised ledger technologies! What an amazing story,