Is Bitcoin Breaking Out? 📈

Bitcoin bulls now have their sights set on $50,000. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ Market Activity Total Market Cap $2.15T (+3.34%) 24 Hour Volume $106.90B (-17.26%) Notable Movers[(LINK) $30.79]( (+12.88%) Notable Movers (DeFi)[(MLN) $142,74]( (+34.73%) Bitcoin Dominance 41.73%[(+0.01%)]( Bitcoin Price[(BTC) $47,443.39 (+2.03%)]( Ethereum Price[(ETH) $3,415.13 (+1.99%)]( Cardano[(ADA) $2,45 (+2.44%)]( Can You Hack a Blockchain? Everyone is talking today about the [New York Times opinion piece]( that had some...interesting allegations about breaking into the Bitcoin blockchain. To start, this is the claim: "Bitcoin can also be seized or stolen. During World War II, the German government relied on a code called Enigma that its mathematicians insisted was impossible to break. The British famously broke it, basically by figuring out the password. That’s also how the federal government apparently recovered part of a Bitcoin ransom payment worth several million dollars from hackers." We all know that there is so much wrong with this paragraph. The association alone between Enigma and the Bitcoin blockchain is quite an unusual one, especially when you consider the connotations (which the writer does spell out pretty directly) — we all thought Enigma was unbreakable, just like we only think that Bitcoin is unbreakable. To begin, in this referenced Bitcoin ransomware case (where bad actors blackmailed the owners of the Colonial Pipeline after taking it offline), the recovered ransom payment was in no way "hacked" or "broken into" to get back. A blockchain itself cannot be "hacked" — read our [CoinMarketCap Alexandria piece]( to understand the specifics of why this is so impossible. The Department of Justice traced and (with a warrant) seized the Bitcoin from a virtual wallet (since we all know that the blockchain is actually an amazing way to publicly trace money). But back to the NYT piece — while some of the author’s claims are controversial, such as, "Bitcoin is popular despite being mostly useless" — it’s the faulty analysis that is raising people’s eyebrows this time. We all expect the FUD pieces about Bitcoin being a bubble (which this piece’s author mentions twice) — but if you’re going to hate on almost everyone’s favorite cryptocurrency, at least get your facts straight! 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[Here's the latest.]( Bitcoin 'Breaking Out' Above $47,000 🔥 Bitcoin has managed to break through $47,000 — a level regarded as a crucial level of resistance that stood in the way of further price gains. There's optimism that bullish momentum may be returning after last week's crash. On Monday, ARK Invest's Cathie Wood predicted BTC will race to $500,000 within five years. [What she said.]( Coinbase Ups Debt Offering to $2 Billion 💰 Coinbase has announced that it now intends to raise $2 billion through a debt offering — up from an initial sum of $1.5 billion. The exchange said the increase was linked to substantial market interest. It plans to use the cash for "general corporate purposes" that could include continued investment in product development or the acquisition of other companies. [Read more.]( Big NFT Auction Coming Up 🚨 A rare zombie CryptoPunk is going under the hammer. The lot being auctioned off by Christie's includes CryptoPunk #9997 — a red-eyed, bearded zombie sporting a black cap. It was last sold in February for just shy of 100 ETH, worth $169,770 at the time. The seller is marking his 40th birthday and plans to donate part of the proceeds to charity. [What's on sale.]( Thanks for reading! Have a great day — more news tomorrow! 👋 [Read More]( We Aren’t Just Daily News. Take A Look At Some Of Our Other Products: Bitcoin Price Prediction Predict the Bitcoin Price on the "End-of-Month" and Win USDT [Predict Bitcoin Price]( Bitcoin Price Prediction Predict the Bitcoin Price on the "End-of-Month" and Win USDT [Predict Bitcoin Price]( [Go to CoinMarketCap]( [App Store]( [Google Play]( [Facebook]( [Twitter]( [Instagram]( [Telegram]( © 2021 CoinMarketCap [Update Settings]( | [Unsubscribe]( [coinmarketcap.com]( CoinMarketCap OpCo LLC, 8 The Green, STE 6703, Dover, Delaware 19901, United States