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CryptoNews of the Week

- Microsoft has published a patent application for a device called "Cryptocurrency system that uses data on body activity." Apparently, the device will be designed to use human energy for mining cryptocurrencies. The document says that this will be a set of sensors with a module that converts the energy of the human body. According to some experts, "brain waves in the process of human activity emit a huge amount of energy, and this type of activity can easily be translated into computing power." Microsoft representatives have not yet commented on the new product, however, according to insider information, the device may appear on sale before the beginning of 2021, unless it is an April Fool's joke.

- Messari analyst Cao Wang believes that Bitcoin's dominance in the cryptocurrency market may exceed 90% by the end of the crisis, instead of the current 66%. According to the expert, "during the period of the entire market drawdown, large investors prefer to work with proven cryptocurrencies. Most often, they choose Bitcoin, since its volatility does not look potentially dangerous. Other coins do not show so good results. We can single out Ethereum among the promising assets, but even it is currently trading in the red zone."
Cao Wang also drew attention to the fact that many investors prefer to invest in the US dollar at the moment. However, if the global crisis becomes even larger, some of them will rush to the cryptocurrency market, where, due to lack of experience, they will buy Bitcoin, considering it the main and most reliable digital currency.

- Option traders believe that Bitcoin will not be able to update the historical high of $20,000 this year. According to the Skew analytical platform, the probability of this event is only 4%. Experts say that the May halving has ceased to be a driver of future growth rate of the asset. In all the options that analysts have studied, an extremely small part of speculators bet on Bitcoin exceeding the $10,000 mark. Most of the traders believe that the cryptocurrency will continue to trade in the range of $5,000-6,000.

- The CEO of the largest cryptocurrency exchange Binance Changpeng Zhao is often criticized for his overly expressive statements that can encourage subscribers to take irresponsible actions. This time, Zhao called for the purchase of Bitcoins, even on credit. "An insane amount of money will soon flow into the financial system. Buy cryptocurrencies with your Visa cards, " Zhao tweeted.
Samson Mow, Chief Strategy Officer at Blockstream, agrees with Changpeng Zhao. In his opinion, the decision of the US Federal Reserve to print $6.2 trillion to maintain liquidity in connection with the economic crisis makes an excellent advertisement for Bitcoin, which was created just to counterbalance the rampant monetary printing press. "How much did we pay Trump to advertise Bitcoin?"- joked the top manager.
But another well-known analyst and trader, Peter Brandt, believes that Bitcoin may have "big problems" if it can't demonstrate steady growth against the backdrop of the fall of the traditional financial market.

- According to the analytical service Glassnode, the number of wallets containing at least one BTC coin has grown by 60% in three years and reached a record high of 800 thousand. The previous record was set at the end of 2017, when the exchange rate of the main digital coin set a historical high at $20,000. At that time, the number of such wallets was about 720 thousand. Since then, the number of addresses with a balance of at least one coin has been growing all the time, with the exception of the end of 2018, when the Bitcoin exchange rate collapsed to $3,200, their number fell to 690 thousand.
Cryptocurrency exchanges Kraken, OKEx, Bitfinex, Paxful and Luno also reported an increase in the number of new users against the background of the coronavirus. According to Kraken, the number of registrations on their platform has increased by 83%. "This influx of new users to the exchange is not due to the fact that people have nothing to do in quarantine during the pandemic. Most likely, people want to use the crisis and gain independence from the "outdated" financial system," says Pierre Rochard, a specialist in strategic development at Kraken.

- Hackers have recently repeatedly broken into popular accounts on YouTube and have used them to arrange fake distributions of cryptocurrencies on behalf of famous people. This time, the scammers hacked more than thirty different YouTube channels, renamed them to allegedly various Microsoft brands, and broadcast through them a speech by Bill Gates in June 2019. At the same time, along with the "live broadcast", the scammers showed ads for a "prize draw", in which users were asked to send a certain amount in cryptocurrencies, which they allegedly would double in response.

- The Kraken exchange believes that the price of Bitcoin may reach $350,000 by 2044. This will be facilitated by the transition of a $68 trillion inheritance of capital from the "baby boomers" to the younger generations. Kraken experts gave a quantitative assessment of the potential flow of inherited capital into Bitcoin. According to their base scenario, with a tax of 2% and a peak of placing funds in the cryptocurrency at 5% of inherited assets, the inflow of investment in Bitcoin will be $971 billion. Based on the difference between the current issue of BTC and the expected figure for 2044, the price of the main cryptocurrency can reach $349,255. Even according to the most conservative estimate of exchange specialists, it will be around $70,000.


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