This Week In Cryptocurrency - Friday, Feb. 22

Choo Choo!

All aboard the train to the moon! This week carried over the momentum from the impressive end-of-the-week rally last Friday. The total cryptocurrency market cap grew steadily from $120.5B to $135B throughout the seven days – about a 12 percent gain.

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Cryptocurrency Market Stats (2/22/19)

Almost every altcoin was in the green this week with several hitting double-digit growth. EOS (38.68%), Maker (24.36%), and Vechain (24.51%) were some of the best performers. Looking at our top three:

Bitcoin showed out with a 10.04% rise on the week, touching the $4,000 mark.

Ethereum led the pack, gaining 20.84% to get back around $150.

XRP, although it had the least growth, still rose a respectable 6.60%. The price currently sits around $0.32. 

Domestic Cryptocurrency News

Bitconnnnnnect Part Two: FBI Boogaloo: Just when you thought all news of Bitconnect was finally dead and buried, the Ponzi scheme is making headlines once again. This time, at least, it’s on a more positive note.

The FBI released on statement on Wednesday, “seeking potential victims in [their] Bitconnect investigation.” The bureau remained vague on what information they’re looking for but are encouraging any Bitconnect investors to fill out a questionnaire about the matter. The questions include:

  • “Where did you first hear about Bitconnect?” Watch out, Trevon James.
  • “How much money did you invest in Bitconnect?”
  • “Who referred you to Bitconnect (if applicable)?” Again, watch out, Trevon James.

As you can tell, there seems to be a theme in what the FBI is in inquiring about. So, keep your eye out for Bitconnnnnnnnect Part Three: The Bitconnect Gang Reunion.

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Bitcoin in Media

Musk’s Take: In a recent podcast with Ark Invest, Elon Musk (Paypal, SpaceX, Tesla, etc.) carved out some time to talk cryptocurrency with the broadcast’s two hosts. Overall, he had positive things to say. He notes, “Paper money is going away. And crypto is a far better way to transfer values than a piece of paper.” No argument here.

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