2020 proved to be one of the biggest years for Bitcoin and cryptocurrencies, due to its busy events and special market news.
In this article, we will discuss the top ten news about Bitcoin and cryptocurrencies in 2020, which are as follows, bearing in mind that their ranking is based on their importance, not on the date of their occurrence.
1- Paypal provides encrypted digital currency services:
Last October, PayPal officially announced the provision of cryptocurrency buying and selling services to 325 million users.
The event represents one of the biggest adoptions stories in crypto history.
Although Paypal's features are currently limited, the company plans to offer more features in the future, so Paypal may continue to attract attention until 2021.
Paypal announces that its clients are allowed to trade bitcoin and cryptocurrencies via the company's online wallets
2- Bitcoin recorded to the highest new level ever:
Exactly two weeks ago, in late November, Bitcoin reached a new all-time high of $ 19,800.
Bitcoin's price has fluctuated since then, which has left investors and analysts unsure of whether the price will continue to rise, or whether the price will collapse as it did in the market crash in 2018.
In any case, $ 19,800 is the highest price Bitcoin has reached since December 2017.
Bitcoin BTC is making history and reaching all-time highs
3- Bitcoin mining bonus split:
Bitcoin mining rewards were cut in half in May, lowering inflation.
For your information, the Bitcoin mining bonus split event occurs once every four years and aims to keep Bitcoin prices reasonably high by balancing supply and demand.
Explanation of the Bitcoin mining bonus split process in a simple way
4- Black Thursday Crash:
Between February and April 2020, global stock markets collapsed due to various factors surrounding the Coronavirus and the Russian-Saudi oil price war.
On March 12, a particularly big crash occurred, and it spilled over into the cryptocurrency market.
Bitcoin prices are down nearly 50%, with prices as low as $ 5,000.
Although Bitcoin prices recovered after that, the event worried investors.
How "Black Thursday" contributed to reshaping the Bitcoin futures market
5- Hacking Twitter and using Bitcoin:
Last July, a hacker seized the accounts of many popular Twitter users followed by millions of followers, including the account of Bill Gates, Jeff Bezos, Apple ...
The hacker carried out the attack to mislead users and lure them into sending more bitcoins to get doubly.
Although the fraudulent strategy brought in very little money (just over $ 121,000), the attack had a widespread impact.
Cryptocurrency fraud re-emerges on Twitter
6- Backlash against the “Coinbase” cryptocurrency exchange:
Queen Piece has received criticism this year for its decision to restrict political activity among its employees.
The company announced plans to take an apolitical stance in September, a decision that drew backlash.
In late November, the New York Times published a critical article about Queen Piece's treatment of black employees.
Other than that, the Coinbase decision to provide the US government with surveillance tools angered the cryptocurrency community, which is known for their belief in decentralization and fighting tracking and censorship.
7- Visa company expands in the field of crypto and blockchain:
In July, payments giant Visa confirmed its intention to settle payments by working with blockchain companies such as CoinBase and Fuld.
Emotions mixed in the reception of this news.
Some believe that the participation of "Visa" will help the cryptocurrency market get more adoption of digital currencies.
Meanwhile, critics argue that Visa could add a central control point and interfere with the freedom of spending that Bitcoin aims to.
"Visa" acquires a financial technology project that supports digital currencies with $ 5.3 billion
8- The explosion of decentralized financing: DeFi
The amount of cryptocurrencies held in decentralized finance (DeFi) apps increased early this summer.
Total Closed Value (TVL) across all Ethereum applications started at about $ 700 million in early January.
In November, the value reached $ 15 billion, which is a twenty-fold increase.
With the launch of Ethereum 2.0, DeFi could grow further, thanks to faster transactions and lower fees.
What is "DeFi"? What are its most important uses?
9- Central Bank Stable Currencies - CBDC:
The People's Bank of China has gradually worked toward launching a digital yuan this year.
Although the effort has not been completed and results are widely shown, the Chinese government has already begun testing the digital yuan in several Chinese provinces.
Currently there is no official launch date, but it is expected that next year China will officially launch the currency and make it available to the general public.
The introduction of digital yuan currency at gas stations and gas stations in a Chinese city
10- Facebook is close to launching its digital currency:
Finally, Facebook's cryptocurrency project is close to launch.
In early December, the expected Facebook currency was rebranded and renamed "Deem" after what was called "Libra".
Facebook has announced plans to launch its US dollar-backed stable currency in January.
This news from Facebook comes after a year and a half of organizational troubles.
However, Facebook's currency will represent an undeniable milestone, as it will be the first cryptocurrency to be created by a technology company belonging to the Big Five.
This was the most prominent bitcoin news and the Walt
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