Crypto News Digest by U.Today
Take a closer look at what’s happening in the crypto world with U.Today’s news roundup!
Here are the top four news stories presented to you by U.Today.
Here’s why Bitcoin just plunged 5% in minutes
Yesterday, Bitcoin saw its price lose 4.7% of its value in a matter of minutes, hitting an intraday low of $21,764 on the Bitstamp exchange. Major altcoins, including Ethereum (ETH), Cardano (ADA), and Dogecoin (DOGE), followed suit, trading in lock step with Bitcoin. The reason for such a rapid fall is that Bitcoin’s price action is being driven by broader macroeconomic factors; this time the royal crypt coincided with US stock futures. In August, Bitcoin actually rose along with stocks due to cooler than expected inflation data for July. The new CPI data is likely to prompt policymakers at the US Federal Reserve to adopt an even more aggressive monetary policy. Therefore, there is no relief in sight for assets with risk.
‘Rich Dad Poor Dad’ Author Kiyosaki Urges Followers To Get Into Crypto Before Markets Crash
In a recent email newsletter, “Rich Dad, Poor Dad” author Robert Kiyosaki informed its readers that they may soon face a catastrophic market collapse and should therefore buy cryptocurrencies as soon as possible. According to the author’s prediction, the market crash will coincide with the fall of the current dollar-oriented economic system and change the world order, and cryptocurrencies have a chance to withstand such dramatic transformations. Robert Kiyosaki regularly shares his opinions on cryptocurrencies: previously the author stated that he trades Bitcoin but does not believe in its value. He noted that he is interested in long-term investment in cryptocurrencies when Bitcoin falling to $1,100.
Here’s when XRP will take off, David Gokhshtein believes, and even more will happen then
Former US congressional candidate David Gokhstein has shared his view on when XRP will rise. However, the event that will lead to such an outcome will also cause other cryptos to skyrocket, Gokhshtein believes. According to his tweet, Ripple must win the case against the SEC, and if that happens, not only the Ripple-linked token will take off, but also “all legitimate platforms as well.” Back in October 2021, Gokhshtein shared the same sentiment, explaining that the entire crypto industry would benefit from Ripple’s win over the SEC as the regulator would provide some clarity regarding cryptocurrencies.
Ethereum (ETH) on PoS already under 51% attack: investor Jason Williams
Founder of Morgan Creek Digital Assets Jason A. Williams has criticized the decentralization of the soon-to-be post-Merge Ethereum (ETH). He believes that the stake design is very far from being fair and inclusive. In his tweet, Williams wrote that “a 51% attack on ETH 2.0 has already happened,” as a group of insiders and founders are already responsible for controlling over 51% of all ETH locked in public staking mechanisms. The investor claims that “honest” stakers are unable to protect themselves from “abusing” the strategy of whales. There are a number of indicators that suggest Ethereum stakes may be vulnerable to post-merger centralization issues. For example, almost 2/3 of the stake Ethers are controlled by Lido Finance, Coinbase, Kraken and Binance structures.
