Recap | Top bitcoin analyst says bull season is 99% in | Altcoins pop as bitcoin consolidates | Bitcoin Cash exploit cripples network during scheduled hardfork upgrade
|CryptoSlate||May 15, 2019|| 7|
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A bug was reportedly exploited on Bitcoin Cash during a scheduled hardfork upgrade of the protocol. For an hour and a half transactions went unprocessed, causing fees to skyrocket.
The world’s largest cryptocurrency has gone parabolic in the past week, with bitcoin breaking its yearly high on May 14th by crossing the $8,000 mark. Willy Woo, a cryptocurrency analyst, says that even in modest estimations, data shows that the bull season is 99 percent in.
The recent hack of the world’s biggest cryptocurrency exchange, Binance, highlights the need for heightened security in the crypto space.
On May 13, as the bitcoin price climbed from $7,000 to $7,700 within hours and the CME bitcoin futures market recorded a daily volume of over $1 billion.
Cryptocurrency hedge fund managed to survive the 2018 bear market that caused the price of Bitcoin to drop by over 70 percent. A report published by PwC and Elwood analyzed 150 crypto hedge funds that manage around $1 billion in digital assets and found that they suffered losses of only 47 percent.
The market is catching up with bitcoin. After breaking—and monetarily holding—$8,000, other altcoins are getting some action. XRP recently saw a 40 percent increase, Ethereum is surging, and Binance coin is approaching all-time highs.
Samsung is planning to extend its crypto and blockchain support to its range of Galaxy phones, according to a local report.
NEO is raising $100 million fund to invest in its project ecosystem.
MakerDAO’s governance is paying off–the price of the DAI has stabilized against the dollar.
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