Daily Crypto Brief for Wednesday, August 5, 2020

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This is your ITB Media Daily Crypto Brief for Wednesday, August 5, 2020.

In Mainstream Financial News.

#CNBC reports: Twitter warns about possible $250 million FTC fine - https://cnb.cx/39Vgp2v

Twitter on Monday disclosed that it expects to lose as much as $250 million for using personal information users provided for security purposes to target advertising instead, after receiving a draft complaint from the Federal Trade Commission.

#Bloomberg Headline: Bitcoin’s Pause May Serve as Consolidation Before Push Higher - https://bloom.bg/33zBI8F

Bitcoin’s surge over the past week got a lot of hearts pumping. Now technical indicators suggest enthusiasts could see it make another major move higher soon. Based on its recent price trend, Bitcoin appears to be consolidating before its next jump, which could take it back to $12,000, a resistance level dating back to last August. In addition, the coin is in overbought territory, according to its 14-day Relative Strength Index (RSI), which measures the magnitude and persistence of price movement.

#AsiaTimes Reports: Bitcoin ‘will drop to $10K’ before rally resumes - https://bit.ly/31luhiF

Volatility Data Suggests Bitcoin Price Drop to $10K Before Rally Resumes. Volatility metrics suggest Bitcoin price may revisit $10,000 before restarting the rally to a new 2020 high

#WallStreetJournal Headline: Companies Should Bolster Blockchain Controls, Risk Advisory Group Says - https://on.wsj.com/2PsBLKU

Companies should conduct thorough risk assessments and develop muscular internal controls to strengthen oversight of blockchain-technology projects, according to new guidance from the Committee of Sponsoring Organizations of the Treadway Commission.

#Forbes Headline: ‘I Want To Buy All The Bitcoins,’ Portnoy Tells Winklevoss Twins In Bitcoin Interview Challenge - https://bit.ly/33tzkAf

Dave Portnoy, the founder of the Barstool Sports blog and an outspoken bitcoin sceptic, has invited cryptocurrency exchange founders Cameron and Tyler Winklevoss to explain bitcoin to him. "I’m officially inviting the Winklevi [sic] twins to my office to explain bitcoin to me," Portnoy said via Twitter, adding: "I want to buy all the bitcoins."

In Social Media headlines.

Altcoin Daily (YouTube) posts a video titled: The First MAINSTREAM Cryptocurrency Bull Cycle Is HERE! Joe Rogan & Barstool BOTH Pumping Bitcoin!

The Moon (YouTube) reports: BITCOIN EXPLODING TO ALL-TIME-HIGHS IN TURKEY!! GOLD ABOVE $2,000!! WHAT'S GOING ON???

Data Dash (YouTube) posts a video titled: The Time Is Now. Bitcoin, Gold & Silver Confirm Bull Market.

On Crypto Zombie (YouTube): BITCOIN RARE SIGNAL FLASHES BUY!!!! ???? BEWARE THIS TRICK!!! NEXT 100x ALTCOIN?

In Crypto Publications headlines.

#Cointelegraph reports: Why $11.5K Is the ‘Most Important’ Level for Bitcoin, Traders Explain - https://bit.ly/30ucE0N

“Firstly note that a breakout is bullish if it can be successfully defended, meaning as long as $BTC can remain above the breakout trend line it has significant technical room higher… But note that inside the larger wedge consolidation a potentially much more bullish pattern has emerged, that of a potential inverse which would point to near 17,000.”

#Coindesk.com headline: Russian Voters’ Data on Sale After Blockchain Poll to Keep Putin in Power: Report - https://bit.ly/31ktONv

Hackers are reportedly selling the personal data of over a million Russians who voted electronically, using blockchain technology, during the recent constitutional amendment process.

#Cryptonews.com reports on its front page: Gold and Bitcoin Surge Exposes Generational Divide – JP Morgan - https://bit.ly/2PotUxV

According to a note by strategists at investment banking giant JPMorgan Chase & Co that was quoted by Bloomberg, the older generations continue to favor traditional safe havens like gold and bonds over stocks, as alternative assets have come back in focus amid the COVID-19-triggered economic downturn: “The older cohorts continued to deploy their excess liquidity into bond funds, the buying of which remained strong during both June and July,” the note said.

This has been your ITB Media Daily Crypto Brief for Wednesday, August 5, 2020.

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