This Week in Crypto: Cardano, Cuba, BTC Hashrate & More!!

Aug 31, 2021

👨‍💻Corporations Crazy For NFTs👨‍💻

Visa explained that their reasons for buying the CryptoPunk were ‘To help our clients and partners understand the infrastructure requirements for a global brand to purchase, store, and leverage an NFT'

💲Stablecoins In The Spotlight💲

Starting from September, USDC will be 100% backed by cash and short-term US treasuries aka government debt. PAX stablecoin rebranded to USDP, and Tether started printing USDT

📈Bitcoin Hash Rate Goes Parabolic📈

Historically, Bitcoin’s hash rate has correlated quite closely with it’s price. The fact that Bitcoin’s hash rate continues to rise even as prices fall suggests that there are still more gains on the horizon for BTC

🤑Bitcoin ETF In October?🤑

The announcement of some kind of ETF be it for Bitcoin or Ethereum would do wonders for BTC and/or ETH, and Bloomberg analysts believe we could see many of them approved in October

📅Infrastructure Bill Set For September📅

Right now, the tentative date for the infrastructure bill to pass is September 27th. After that it just needs to be signed by the president and it will become law, and then the wolves will hop into the sheep pen

💳Cuba Embraces Crypto Payments💳

To me Cuba’s move sounds awfully close to making cryptocurrency legal tender, and if true then it would make Cuba the second country to make cryptocurrency legal tender, the first being El Salvador

⚖Cardano Foundation Pushes Compliance⚖

In a worst-case scenario, Cardano holders could find themselves in a position where they’re locked out of their wallets until they complete KYC

⛅Weekly Crypto Market Forecast⛅

Investors who are bearish on Bitcoin and have lots of put options will push the price of BTC down as much as they can at the end of each month to maximize profits. Many believe this is why BTC tends to dip at the end of each month


📜 Disclaimer 📜

The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome