$BTC 24 Hour High $13,900
$BTC 24 Hour Low $13,627
Bitcoin price new high
Bitcoin recorded its highest value of $14,000 over the weekend since the 2017 crash from $20,000. A similar bull run happened in June 2019 where BTC attempted to take out the all-time high but fell short just below $14,000. Market analysis implies organic growth in bitcoin in next few weeks may continue. Traders may expect a lot more volatility with prices around $14,000.
A team of analysts at J.P. Morgan Global Markets Strategy group has published a research note on Friday, touting Bitcoins emergence as an alternative to gold among millennials, suggesting a “doubling or tripling” in the price of the cryptocurrency if current trends continue. The new stance on bitcoin is remarkable given the banks onetime skepticism towards Bitcoin with JP Morgan CEO Jamie Dimon once claiming that bitcoin was a ‘fraud’. Other news of interest includes, the firm’s digital currency JPM coin being used for the first time this week to settle payment globally.
MakerDAO issues warning after a flash loan was used to pass a governance vote. The team behind a DeFi protocol wanted white-list access to MakerDAO’s price oracle. To make it happen, they used a flash loan to manipulate a vote in a process that has triggered questions about the stablecoin platform’s governance apparatus.
It’s a notable example of flash loans, or lending arrangements that play out across a single Ethereum transaction, this can lead to unexpected outcomes and create security quandaries across the largely experimental DeFi landscape. The industry is longing to see more project and protocals on security best practice built-in for fewer defi exploits in the future.