This week we’ve seen some of the hardest pullbacks on the price of Bitcoin and the overall cryptocurrency market. Bitcoin’s price briefly broke through the $30k support level, bringing the price to a four-month low we haven’t seen since January and the whole market cap fell down to $1.6T before recovering a bit at the end of the week.
The reasons behind this massive pullback are a multitude of unfavorable news like the Tesla CEO Elon Musk announcing Tesla won’t support Bitcoin car purchases anymore due to environmental concerns and the rumor of upcoming crypto regulations in the US.
As for development here at NewsCrypto, we’ve had a week packed with action and exciting announcements despite the gloomy sentiment of the overall market.
We’ve released the new privacy section on our NewsCrypto education platform we’ve developed with the help of our partnership with PirateChain. It covers the basics of crypto privacy, how well Bitcoin and Ethereum are handling it and how privacy focused tokens provide a solution for some of the vulnerabilities of traditional blockchains.
We’ve been quite happy with the results of our AI sentiment prediction tool but we’ve decided to continue tweaking and updating it, so that it can eventually achieve even better results and provide greater precision. We’ve also been testing the new version of the NewsCrypto mobile app that will be translated into three new languages: French, Chinese and Turkish. The new version will be released soon, enabling us to fulfill the demands of our growing communities worldwide.
Lastly, our team is working on the long requested NewsCrypto merch store so that our most devoted followers will be able to show off their swagger with t-shirts, hoodies, caps and towels which will all bare our logo and other marks. Some of them will even contain hidden messages, thanking our community for the support throughout the years as we could never make it so far without our followers.
As we’re all hoping for positive news and crypto market recovery in the coming days, I wish you all a wonderful week and I look forward to seeing what the upcoming week will bring to us. As always, I’ll update you on our development and interesting crypto events at the end of the week.