Global LinkUP: Bitcoin prices are still falling

by | Mar 30, 2018

The Global Linkup is a summary roundup of important tech news curated from around the world.

On this week’s edition of the global news round up, there are indications that Cambridge Analytica is unrepentant. In Europe, Brexit has made the European Commission take some weird decisions. And globally, digital currencies are taking a price beating. Read on.

Cambridge Analytica

In the wake of the much publicized data breach, Facebook is atoning.

On Wednesday it announced via a blog post that in the coming weeks there will be new ways for users to monitor and delete data shared with the platform.

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The Independent rightly reports that this move is a damage control of sorts.

Still atoning, on Thursday as seen on Techpoint, Facebook announced it was ending its Partners Categories. These categories allowed 3rd party data collection for as targeting.

In all these effort to make things right, there are indications Cambridge Analytica has not completely deleted all the user data in its database. When the heat was on,  the company denied all wrongdoings and said it had deleted every data. A report on The Verge suggests otherwise.

One big side effect of Brexit

In 2016, the United Kingdom voted in a referendum to leave the European Union. Known as Brexit, the exit has been on a rollercoaster ever since, but the UK will finally leave sometime in 2019.

However, in a new twist, the European Commission has announced it will cancel 300,000 .eu websites that have a UK registrant.

This announcement was made on Wednesday on an official website of the European Commission

What’s cryptocurrenting?

It’s Bitcoin and price slumps.

On Thursday, Bitcoin price fell below $7,500 on the CoinTelegraph Index. The recent Twitter ban on cryptocurrency ads was fingered as the likely cause for this slump.

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In a 24-hour period, the digital currency has slumped to a $6,759 price low according to a Coinbase price tracker. This drop represents a 14% decrease in a one day period and cumulative 38% downward price slide this month alone.

But experts are advising to stay calm in all these upheaval.

The Business Insider compares the price slump to NASDAQ during the tech bubble of the 2000s. The analysis says that based on historical antecedents, this price slumps may signal major recovery for Bitcoin.

Bitcoin isn’t the only digital currency with a price nosedive this week. Early on Tuesday, Market Insider reported that Ethereum plunged to $451; it’s lowest price point this year.

Victor Ekwealor
Victor Ekwealor

tech. media. startups. africa. vc | Twitter: @victor_ekwealor

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