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Bitcoin Hits 15-Month High as Naysayers Double Down on ‘Dead Cat Bounce’

A rollercoaster weekend trading session saw BTC/USD retake levels not seen since March 2018. Bitcoin (BTC) was holding steady around $10,850 on June 24 after a fresh surge took it above $11,000 for the first time in over a year.Market visualization courtesy of Coin360Data from Coin360 showed a slight correction kicking in for bitcoin on Monday, markets consolidating gains after a dramatic weekend.BTC/USD had climbed as high as $11,230 in recent days, marking its best performance since early March 2018.The action did not go unnoticed, with mainstream media titles appearing to struggle with explaining the return of a cryptocurrency they had previously announced all but dead.Many quoted traditional finance sources who maintained that the current bull-run is doomed to fail and that bitcoin investors will ultimately lose everything in fiat terms.“Don’t get fooled by the dead-cat bounce this year,” Whitney Tilson, founder of Empire Financial Research and a former hedge-fund manager said quoted by Bloomberg.“Mark my words: A year from now, it will be a lot lower.…

Ethereum Co-Founder Criticizes Facebook’s Libra Token for Centralization

Ethereum co-founder Joseph Lubin said that Facebook’s Libra is “like a centralized wolf in a decentralized sheep’s clothing.” Ethereum co-founder Joseph Lubin said that Facebook’s Libra token is like “a centralized wolf in a decentralized sheep’s clothing” in an article published on tech news outlet Quartz on June 21.The social media giant released the white paper for a its cryptocurrency dubbed Libra earlier this month to mixed reviews from experts in the cryptocurrency and blockchain industries and concern from government regulators.In his article, Lubin notes that Libra’s white paper describes feelings common among many in the cryptocurrency community.…