This week was a rollercoaster ride in the world of finance and cryptocurrency. From 50 Cent‘s Bitcoin BTC/USD earnings to Ark Invest’s Cathie Wood’s prediction about King Crypto, and Roaring Kitty’s YouTube live stream resulting in a surge in a cat-themed cryptocurrency, there was no shortage of action. Here’s a quick recap of the top stories that made headlines.

50 Cent’s Bitcoin Vision Pays Off

Grammy Award-winning rapper 50 Cent, also known as Curtis Jackson, made a groundbreaking move a decade ago by accepting Bitcoin as payment for his album “Animal Ambition”. Fast forward to today, and his decision has paid off handsomely, making him a multi-millionaire. Jackson reportedly amassed 700 Bitcoins from the album sales, which at the time were worth around $460,000.

Read the full article here.

Cathie Wood’s Bitcoin Prediction

Renowned investor ARK Invest’s Wood has made a daring prediction about the future value of Bitcoin. According to Wood, if corporations continue to diversify their balance sheets into Bitcoin, the digital currency could reach a staggering $500,000. This would mean that an investment of just $100 in Bitcoin today could be worth as much as $200,000 if Wood’s prediction comes true.

Read the full article here.

Kitty-Themed Crypto Rides the Roaring Kitty Wave

In anticipation of Roaring Kitty’s YouTube livestream, Kitty AI, a cat-themed cryptocurrency, saw a significant surge. The Solana SOL/USD-based memecoin moved 65% higher with trading volume more than doubling to $8.73 million in the last 24 hours as of late Thursday.

Read the full article here.

Roaring Kitty Stream Triggers Crypto Sell-Off

The cryptocurrency markets ended the week on a sour note, with Bitcoin, Ethereum ETH/USD, and Dogecoin DOGE/USD experiencing a strong sell-off following the end of the Roaring Kitty live stream.

Read the full article here.

Shiba Inu Burn Rate Skyrockets

Shiba Inu SHIB/USD, often referred to as the “Dogecoin Killer,” saw a significant spike in its burn rate over 24 hours on Monday. This led traders to be bullish about its upcoming price momentum, with some predicting the price potentially doubling or even tripling.

Read the full article here.

Read Next: Bitcoin, Ethereum, Dogecoin Rise On Weakening Labor Market Indicator: Analyst Says He Will Dish Out Cash For Retweets If King Crypto Doesn’t Hit $95K By This Time

Photo courtesy: Shutterstock

This story was generated using Benzinga Neuro and edited by Anan Ashraf.

Bitcoin BTC/USD is nearing a significant technical breakout, potentially reaching a milestone of $100,000, according to an analyst.

What Happened: Bitcoin is on the cusp of a significant technical breakout if it surpasses its previous peak of about $73,800.

Technical analyst JC Parets of AllStarCharts noted that maintaining levels above $70,000 increases the likelihood of Bitcoin reaching $100,000.

“The idea was we [Bitcoin] were gonna get to $47,000, take a break, get to $70,000, take a break, and then ultimately breakout to a $100,000,” Parets said on a “Trends with Friends” podcast last month.

Parets highlighted that Bitcoin has followed this pattern so far.

“We got to $47,000, we took a break. We broke out, got to $70,000, we’re taking a break. Like this is perfectly normal,” he added.

A $100,000 target represents a 40% potential upside from current levels.

Also Read: Crypto Analyst Foresees Upswing In Bitcoin’s Value Before Major Plunge

The cryptocurrency has rebounded significantly over the past year, recovering from a severe bear market in 2022. Bitcoin is now forming a “cup and handle” pattern, a bullish technical formation. If this pattern materializes, Bitcoin could potentially reach a measured move price target of about $130,000.

Why It Matters: The potential breakout comes after a period of significant volatility for Bitcoin. In late May, pseudonymous trader and crypto analyst Rekt Capital provided insights into Bitcoin’s status and future prospects. Rekt Capital noted that Bitcoin was no longer in the “danger zone” but warned of a possible 13% dip from its current value.

Rekt Capital explained that Bitcoin typically enters the “danger zone” after a halving event, which reduces miners’ rewards. Despite these concerns, Bitcoin has shown resilience and has been on an upward trajectory, indicating strong market confidence.

As Bitcoin approaches the $100,000 mark, it is essential to consider the broader context of its recent performance and the technical patterns that have emerged. Investors and analysts will be closely watching to see if Bitcoin can sustain its momentum and achieve this significant milestone.

Now Read: Crypto Analyst Forecasts Monumental Bitcoin Rally By 2026

This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Photo: Shutterstock

• Lennin Cenas points out that cybercriminals could use iris biometric data to impersonate identities.
• Investigations in several countries question Worldcoin over concerns about privacy and biometric data security.

In Peru, consumer protection experts have raised serious concerns about the practice of iris scanning in exchange for cryptocurrency rewards, drawing attention to the significant risks associated with sharing such sensitive biometric data.

Jaime Delgado, a Peruvian lawyer and consumer advocate, has voiced strong opposition to the method employed by the Worldcoin project, likening it to “selling your organs.”

Delgado highlighted the dangers of trading crucial personal identification for minor economic benefits, suggesting that such an exchange could pose a severe threat to one’s future security. 

“Selling your eye’s iris for a few cents or your biometric identity feels akin to selling your organs,” 

Delgado stated, emphasizing the lack of assurances that the data will not be misused in the future.

The controversial cryptocurrency initiative continues to face criticism across Latin America. In Peru, particularly in the districts of Miraflores, Surco, and Lince in Lima, people are drawn to scan their irises at devices known as Orbs.

These locations register a daily influx of more than 500 individuals, each hoping to earn a handful of WLD tokens, worth approximately 180 Peruvian soles.

However, the use of such biometric data has raised alarms about potential misuse. Lennin Cenas, an engineer specializing in artificial intelligence, warned that cybercriminals could exploit iris data for identity theft.

 “The iris code is unique and lasts a lifetime. With the ongoing advancement of AI, it’s uncertain what might occur in the future or how much the technology will evolve,” Cenas explained, stressing the importance of guarding such personal information.

The implications of these privacy concerns are widespread, with several countries, including Chile, Mexico, France, Germany, the United Kingdom, Kenya, Nigeria, Argentina, Spain, South Korea, Hong Kong, and Portugal, initiating investigations into Worldcoin. 

In some cases, such as Spain and Portugal, authorities have even moved to expel the project over privacy issues and concerns about the participation of minors in iris scanning.

Despite assurances from Worldcoin’s executives that the iris data is not stored and only used to verify human identities, skepticism remains. They have pledged to erase all data traces from the scanning devices, yet the controversy continues, highlighting a global apprehension about the security and ethical implications of such technology.

In Chile, despite criticisms, authorities are considering collecting biometric data from residents “to verify them,” claiming that it is safer to entrust such sensitive information to governments rather than private companies.