Find out what happened in the world of crypto over the weekend with U.Today’s news digest
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U.Today has prepared a summary of the top three news stories over the weekend.
Bitcoin (BTC) eyes $40,000 as it heads for fourth green week in row
To the great delight of all Bitcoin holders, the flagship crypto is setting for its fourth consecutive week in green. Over the last four weeks, Bitcoin has increased in value by more than 40% due to growing anticipation of a spot ETF approval. On Thursday, Nov. 9, BTC was little under $38,000, its highest price since May 2022. However, as of now, the biggest crypto by market cap is still only around halfway to regaining its peak of nearly $69,000, the level it reached during the 2021 crypto mania. Currently, traders are aiming for the $40,000 price point and higher. Earlier last week, veteran trader Peter Brandt charted out a price target of $43,289 if a flag or pennant pattern validates for Bitcoin.
Horrifyingly realistic Ripple scam emerges on social media
On Sunday, Nov. 12, X platform user with more than 230,000 followers @sentosumosaba shared a warning about a new kind of scam facing the XRP community. The user posted a video of what appears to be a YouTube ad showing “Ripple CEO Brad Garlinghouse” calling XRP holders to send a minimum of 1,000 XRP and receive double the amount in return. As genuine as the video may seem, this is not the real Garlinghouse’s online identity but an alarmingly sophisticated scam that uses AI technology to imitate the Ripple CEO’s voice and image. Luckily, some attentive users managed to spot discrepancies in the video’s editing and raised an alert.
Shytoshi Kusama signals SHIB’s readiness for bull market
In a recent post on his Telegram channel Shibarium Tech, Shytoshi Kusama, pseudonymous lead of the Shiba Inu project, stated that the community is ready to benefit from the anticipated bull market. “I don’t think we will miss it,” wrote Kusama. The SHIB lead’s message comes amid the crypto market’s upswing, with Bitcoin’s price surpassing $37,000 and rising optimism for imminent spot ETF approval. Kusama provided a clear vision for the project’s course, assuring SHIB holders that the necessary steps are being taken to take advantage of favorable market conditions. “We are on schedule to complete our work in it. But only with your help,” Kusama stressed.
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