Looking at the events of the past month, it’s normal if you’ve been away from your wallet for a while. Premium tears everywhere. But the interesting thing is how you can see Bitcoin and other altcoins fighting to get back to their past glory. So will this heartbreak continue or will it end soon? For now, some awesome things happened last week.
Let’s dive into it:
Goodbye May 👋
May is finally over, thank God 😩. Cryptocurrency prices bled this month, and it wasn’t pretty. The good things is that there’s a lot of hope going forward. Bitcoin is moving closer to the $40,000 mark, and altcoins are slowly looking alive again.
After the long heartbreak, little old Bitcoin looks set to heal 😃. Get your wallets ready! – not financial advice, of course 😉.
Zoom, Zoom, Zoom 🏎️
Somebody get Superboy Cheque on the speakers! Bitcoin is going zoom! 💨
On Sunday, a Bitcoin-sponsored car competed at the Indy 500 – America’s most famous car race. The Chevrolet vehicle was sponsored by Ed Carpenter Racing (ECR), and it was covered in full with the Bitcoin logo. Seriously – you’d think Bitcoin threw up all over the car 😂.
So we’ve got crypto in football, basketball, and the NFL. Now, it’s time to conquer the tracks. 🏁
Hard Times for Chinese Bitcoin Miners 😪
We thought things were bad two weeks ago when Chinese authorities banned Bitcoin mining. Well, we’re all holding the country’s beer right now.
Last week, Chinese officials introduced laws targeting anyone caught mining Bitcoin. The laws propose putting miners on a “social credit blacklist,” that prevents them from getting loans from banks and even using the public bus system 😱
These miners are feeling the worst of it. Time to japa, anyone? 👀
Biden Wants to Know What You’re Up To 🤔
Last week, the White House published its 2022 budget proposal and crypto got a shout out 😃.
The proposal mainly tries to reduce tax evasion using cryptocurrencies. Basically, the U.S. government is trying to check crypto holders’ accounts and prevent them from hiding taxes.
At least, crypto gets more points for legitimacy. We’ll take that win 😎.
BSC Brings a Bouncer to the Club 💪
On Thursday, CipherTrace announced that it would expand its software support to the Binance Smart Chain (BSC). Through this partnership, CipherTrace will monitor the BSC and identify high-risk transactions.
Everyone hopes to improve security on the Smart Chain and reduce DeFi scams 🚫.