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Popular Singer Akon Defends BTC Against FUD

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The Grammy award winning musician and popular singer Akon recently came out in support of Bitcoin, defending the flagship cryptocurrency and stating that it is neither volatile nor lacks intrinsic value.

Akon is in the latest cryptocurrency news for his defence of BTC. In fact, his comments appeared during the Breakfast Club, which is a popular radio show among the New Yorker, where Akon was joining as a guest.

The hip hop star and popular singer Akon confronted many questions mainly aimed on Bitcoin and its price volatility, the lack of proper backing etc. In his response, Akon said that even government-backed fiat currencies have no intrinsic value, but people still use them because they trust their governments. Even though Akon did not say anything worth featuring in the altcoin news, he added that the US government shoves dollar into the lives of billions of people through military force.

“What they do have is the military. That’s who backs the dollar,” Akon said, claiming that this is the reason for the greenback.

When it comes to the Bitcoin volatility, the popular singer Akon added that Bitcoin is more stable compared to fiat currencies because it is genuinely democratic. The method of issuing new tokens stands distributed – which means that people assign value to Bitcoin unlike the US dollar which rises in terms of its value (up and down) in response to government policies.

“It boils down to trust. What you trust is the value it gives you,” said the popular singer Akon, adding that he can buy anything using Bitcoin as much as he can with the US dollar.

A video of the popular singer defending BTC can be seen in the tweet below.

Moreover, the musician was featured on many best cryptocurrency news sites. He lately emerged as a successful businessman, having ownerships in a record label, a clothing brand as well as a solar energy company.

Most interestingly, Akon is also in the process of launching a cryptocurrency named AKoin in Africa, which is envisioned by the popular singer Akon as one that would “create opportunity and inclusion for youth entrepreneurs by allowing consumers to buy, hold, and spend cryptocurrency right from their smartphone through a suite of blockchain-powered apps.”

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Deloitte Starts Testing Bitcoin Payments For Its Staff

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Deloitte starts testing how bitcoin payments can play out as a payments option for the employees of the company as per the reports by the Luxembourg Times which we are reading more today about in the altcoin news below. As per the reports, Deloitte has launched a BitPay option for its employees but the BTC payments were available back in2017 in one of the offices in Canada. Months after the test run, the prices of the number one cryptocurrency started going wild and they even broke the records by the end of the year. One of the company’s representatives Laurent Collet stated:
 “We think it’s good to have our employees assess this new technology.’’
Now since the BTC prices have stabilized again to the $10,000 region, the number one cryptocurrency offers a more predictable basis for calculating the price. Bitcoin is now exchanging for $10,221. Paying with your Bitcoins was a good idea in the early days of the network but now the analysts are seeing increased activity related to moving coins in and out from exchanges. Usually, the Bitcoin network will show high transaction loads when the price is rising and when it attempts to sell some coins. there is also some increased tendency for Hodling BTC. Bitcoin is one of the most liquid coins so it is exchangeable for currency as needed and preferred by merchants. One Bitcoin transaction cost is currently at $0.51 unless the priority status is paid for. When the activity is higher, the transactions could cost a few more dollars which is not very suitable for micropayments. Paying with Bitcoin has obviously some major setbacks so now Deloitte starts testing how can they improve the disadvantages. The test of Deloitte will be in-house and on a small scale but globally paying with your Bitcoins is no longer simple. Almost every major exchange has established a KYC procedure and limits the amounts to be paid globally. Deloitte is not a stranger of blockchain and crptocurrencies. The company has been exploring the crypto space for years and the risks of various projects. The company has already formed a blockchain team and opened multiple research centers around the world as we found out in the latest cryptocurrency news.
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Bitcoin Will Surge After It Reaches $10,700: Analyst Prediction

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Bitcoin will surge once it reaches the $10,700 price point according to Dan Tapeiro who is the portfolio manager at Pimco and we are about to find out more about his prediction in the coming altcoin news below. The price of the number one cryptocurrency increased on Tuesday as the investors patiently waited for the outcome of the Federal Reserve’s meeting on monetary policy. Bitcoin slipped by $44.70 or about 0.44 percent and reached the price level at $10,217. The downside price action happened on the sidelines of the better-performing alternative cryptocurrencies while the Ethereum blockchain managed to increase up to 2.18 percent against Bitcoin. XRP, on the other hand, became the second-largest gainer against the benchmark cryptocurrency after it increased by 5.97 percent. Some of the other altcoins including Litecoin and Bitcoin Cash also registered some decent gains. There is a sentiment that Bitcoin did not live up to its ‘’safe-haven asset’’ status in the face of the adversary. The recent drone attacks on the Saudi Arabian crude oil production facilities ended up destroying the already weak global economic outlook. The S&P 500 and China’s CSI have dwindled the investors digested the long-term prospects of the Saudi attack. Some of the analysts believe that the incident will halt the global oil supply for the next few months and the effect will even start reflecting the health of the international markets:
 “While the ultimate impact will depend on a combination of the extent of damage, the US and Saudi response, and whether further attacks occur, the current production decline will exacerbate the tightening in the oil market that was already underway and could add a more lasting geopolitical risk premium to prices.’’
Almost all of the haven assets are reacting positively to the Saudi attacks as well as Gold and Treasures who also managed to increase as the investors look at them as hedging assets. now, the crypto users are eyeing the Federal Reserve meeting and the markets expect that the US central banks will cut the interest rates by 25-basis point. The Fed Chair Jerome Powell is still facing political pressure from the US president and the chairman himself stated that he will address the attendees tomorrow. The analysts believe that bitcoin will surge once it reaches the $10,700 and as per the analysts Dan Tapeiro who stated for the latest cryptocurrency news:
“Everyone “knows” that fact already. In traditional markets, when everyone knows the fact it is considered “priced in.”
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Current Bitcoin Is Stronger Than Ever, But No One Cares: Google Trends

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The position in which Bitcoin is right now, as the latest cryptocurrency news show, is among the strongest we have seen in years. The current Bitcoin standing at $10,000 is stable, but people are not searching for the term anymore on Google and the interest for BTC has dropped. According to analysis from Google trends, there are many reasons for that. To begin with, we will share some data. According to Google Trends, the term "Bitcoin" is less popular now than any time since the end of April. Despite the largest cryptocurrency trading higher this week than then - at $10,200 compared to $4,100 - it appears that Bitcoin currently attracts very little mainstream interest. On a scale of 1 to 100,  the term "Bitcoin" charts at 38 worldwide after hitting 100 in late June. What's interesting is that despite the lower interest, the current Bitcoin is stable above the $10,000 margin. As we previously reported in our Bitcoin and altcoin news, it is the mainstream attention which tends to fluctuate in line with the Bitcoin price volatility. Overall searches appear to have rocketed since the start of April, when the BTC price initiated its rise from months of sideways trading around $3,500. We have also seen other episodes of parabolic moves which increased Bitcoin's stance. Mainstream media titles frequently choose to cover crypto price performance over any other event - and if you read the best cryptocurrency news sites - you probably know that the current Bitcoin price is always featured among the top updates. BTC/USD has meanwhile remained similarly flat around the $10,000 since mid-August and the commentators continue to suggest that the volatility of BTC is ripe to return during the rest of the year. In today's BTC updates, we can see that the current Bitcoin price dropped and lost 1.42% as Bitcoin stands at $10,215 at press time. The coming altcoin news, on the other hand, suggest that there are more increases on the market, starting from Ether (ETH) which leads with a 2% surge, continuing with Ripple's XRP token which rose by more than 1% to reach $0.2657 and Litecoin (LTC) which is now at $72 after a 2% surge. The total cryptocurrency market cap is at $265 billion and the 24 hour volume is $54 billion.  
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Bitcoin Price Analysts: A Strong Bull Run Is Imminent

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Bitcoin price analysts believe that a strong bull phase is imminent for the number one cryptocurrency according to the coming altcoin news that we have on our website today. According to one of the bitcoin price analysts ‘’Crypto Michael’’, the longer the current sideways accumulation phase continues for Bitcoin, the stronger the next bull run will be. Since it briefly reached the $13,800 price range back in late June this summer, the price of the number one cryptocurrency has managed to maintain a $10,000 to $10,300 price range. The downward traces towards the $9,000 price range has seen a massive reversal. The trend has started despite the popular forecast made a while back that the bitcoin price will fall to $8,500 because of the unfilled CME futures gap. Over the last week, another one of the bitcoin price analysts Peter Brandt outlined the presence of the significant downward pressure on the Bitcoin price at least in the short term. On the macro level on the other hand, the longer the price of the major cryptocurrency resists this downward pressure and sustains its consolidation, the more likely it is for a stronger uptrend to start. If this prediction holds true, the bitcoin price action between $9,000 and $12,000 will manage to stay consolidated. Back in June, crypto analyst Josh Rager explained that the $11,700 price level is a crucial resistance level for bitcoin since last week he doubled down on his stance saying that the bitcoin price is closing above $11,700 and this could even start another significant rally. According to the charts, Bitcoin looks to have entered another parabolic phase and usually when the markets mature, their cycles become longer so bitcoin is in line with this rule. Assuming that the same pattern holds true, the next Bitcoin parabolic move will arrive as soon as 2021 or 2022. According to analyst PlanB, the relationship between the stock flow and the bitcoin price goes far beyond the correlation and cointegration. As per the analysis in the latest cryptocurrency news, bitcoin is set to begin the parabolic move advance at the end of the accumulation phase which is currently in motion.
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