{"id":1295,"date":"2020-08-24T13:41:44","date_gmt":"2020-08-24T20:41:44","guid":{"rendered":"https:\/\/synq.tech\/a\/?p=1295"},"modified":"2020-08-24T13:41:55","modified_gmt":"2020-08-24T20:41:55","slug":"august-23-2020-weekly-recap","status":"publish","type":"post","link":"https:\/\/synq.tech\/a\/2020\/08\/24\/august-23-2020-weekly-recap\/","title":{"rendered":"August 23 2020 &#8211; Weekly Recap"},"content":{"rendered":"<h1 style=\"text-align: center;\">Weekly Recap<\/h1>\n<pre style=\"text-align: center;\">August 16th- August 23rd, 2020<\/pre>\n<p>Welcome to our 3rd weekly recap for August.<\/p>\n<h2><strong>Overview\u00a0<\/strong><\/h2>\n<h2><a href=\"https:\/\/synq.tech\/a\/wp-content\/uploads\/2020\/08\/aug-23-weekly.png\"><img loading=\"lazy\" class=\"aligncenter size-large wp-image-1296\" src=\"https:\/\/synq.tech\/a\/wp-content\/uploads\/2020\/08\/aug-23-weekly-1024x630.png\" alt=\"\" width=\"1024\" height=\"630\" srcset=\"https:\/\/synq.tech\/a\/wp-content\/uploads\/2020\/08\/aug-23-weekly-1024x630.png 1024w, https:\/\/synq.tech\/a\/wp-content\/uploads\/2020\/08\/aug-23-weekly-300x185.png 300w, https:\/\/synq.tech\/a\/wp-content\/uploads\/2020\/08\/aug-23-weekly-768x473.png 768w, https:\/\/synq.tech\/a\/wp-content\/uploads\/2020\/08\/aug-23-weekly-1536x945.png 1536w, https:\/\/synq.tech\/a\/wp-content\/uploads\/2020\/08\/aug-23-weekly-2048x1260.png 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/h2>\n<h2>Crypto News<\/h2>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li><a href=\"https:\/\/news.bitcoin.com\/bitcoins-hashrate-hits-record-high-130-eh-s-as-btc-price-faces-resistance-at-12000\/\"><strong>Bitcoin&#8217;s Hashrate Hits Record High 130 EH\/s, as BTC Price Faces Resistance at $12,000<\/strong><\/a><\/li>\n<\/ul>\n<\/li>\n<li style=\"list-style-type: none;\">\n<div id=\"node-1\" class=\"article-pharagraph\">\n<div id=\"node-1\" class=\"article-pharagraph\">\n<p>Bitcoin\u2019s seven-day average hash rate has reached a new all-time high of 130 exahash per second (EH\/s) \u2013 a feat that might positively influence the asset\u2019s price, while adding to the fundamental strength of the Bitcoin network.<\/p>\n<p>&nbsp;<\/p>\n<\/div>\n<\/div>\n<ul>\n<li><a href=\"https:\/\/news.bitcoin.com\/excessive-flooding-in-sichuan-causes-20-hashrate-losses-for-chinese-bitcoin-miners\/\"><strong>Excessive Flooding in Sichuan Causes 20% Hashrate Losses for Chinese Bitcoin Miners<\/strong><\/a><\/li>\n<\/ul>\n<\/li>\n<li style=\"list-style-type: none;\">\n<div id=\"node-1\" class=\"article-pharagraph\">\n<div id=\"node-1\" class=\"article-pharagraph\">\n<p>Torrential downpours of nonstop rain have been wreaking havoc in China\u2019s Sichuan province, which has caused some operations to shut down ASIC mining devices. Reports from the region show that certain areas have seen electrical shortages and the aftermath is causing quite a bit of stress for Chinese bitcoin miners.<\/p>\n<p>&nbsp;<\/p>\n<\/div>\n<\/div>\n<ul>\n<li><a href=\"https:\/\/news.bitcoin.com\/report-bitcoin-untied-from-the-economic-cycle-largely-uncorrelated-to-other-asset-classes\/\"><strong>Report: Bitcoin Untied from the Economic Cycle, &#8216;Largely Uncorrelated to Other Asset Classes&#8217;<\/strong><\/a><\/li>\n<\/ul>\n<\/li>\n<li style=\"list-style-type: none;\">\n<div id=\"node-1\" class=\"article-pharagraph\">\n<div id=\"node-1\" class=\"article-pharagraph\">\n<div id=\"node-0\" class=\"article-pharagraph\">\n<p class=\"text \">On Tuesday, Coinshares Investment strategist James Butterfill published a report which shows that bitcoin is a unique asset, but is \u201clargely uncorrelated to other asset classes\u201d like commodities and traditional stocks.<\/p>\n<\/div>\n<div id=\"node-1\" class=\"article-pharagraph\">\n<p>&nbsp;<\/p>\n<\/div>\n<\/div>\n<\/div>\n<ul>\n<li><a href=\"https:\/\/news.bitcoin.com\/nigerias-foreign-currency-crisis-boon-for-bitcoin-country-tops-wallet-downloads-ahead-of-the-us\/\"><strong>Nigeria&#8217;s Foreign Currency Crisis Boon for Bitcoin: Country Tops Wallet Downloads Ahead of the US<\/strong><\/a><\/li>\n<\/ul>\n<\/li>\n<li style=\"list-style-type: none;\">Nigeria\u2019s weakening naira currency, as well as the shortage of U.S. dollars, are forcing businesses to switch to bitcoin as the means of settling payments for international transactions. Nigerian businesses need the American currency to buy new supplies, as well as to order essential equipment from abroad. However, formal sources of foreign currency like banks are failing to meet this demand.<\/li>\n<li style=\"list-style-type: none;\"><\/li>\n<li style=\"list-style-type: none;\">\n<div id=\"node-1\" class=\"article-pharagraph\">\n<div id=\"node-1\" class=\"article-pharagraph\">\n<div id=\"node-0\" class=\"article-pharagraph\">\n<p>&nbsp;<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Weekly Recap August 16th- August 23rd, 2020 Welcome to our 3rd weekly recap for August. Overview\u00a0 Crypto News Bitcoin&#8217;s Hashrate Hits Record High 130 EH\/s, as BTC Price Faces Resistance at $12,000 Bitcoin\u2019s seven-day average hash rate has reached a new all-time high of 130 exahash per second (EH\/s) \u2013 a feat that might positively<\/p>\n","protected":false},"author":4,"featured_media":1297,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":""},"categories":[30,52],"tags":[81,91,92,89,87,88,94],"jetpack_featured_media_url":"https:\/\/synq.tech\/a\/wp-content\/uploads\/2020\/08\/business-communication-computer-connection-preview1.jpg","yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v14.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>August 23 2020 - Weekly Recap &bull; SynQ<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/synq.tech\/a\/2020\/08\/24\/august-23-2020-weekly-recap\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"August 23 2020 - Weekly Recap &bull; SynQ\" \/>\n<meta property=\"og:description\" content=\"Weekly Recap August 16th- August 23rd, 2020 Welcome to our 3rd weekly recap for August. Overview\u00a0 Crypto News Bitcoin&#8217;s Hashrate Hits Record High 130 EH\/s, as BTC Price Faces Resistance at $12,000 Bitcoin\u2019s seven-day average hash rate has reached a new all-time high of 130 exahash per second (EH\/s) \u2013 a feat that might positively\" \/>\n<meta property=\"og:url\" content=\"https:\/\/synq.tech\/a\/2020\/08\/24\/august-23-2020-weekly-recap\/\" \/>\n<meta property=\"og:site_name\" content=\"SynQ\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/synq.suite\/\" \/>\n<meta property=\"article:published_time\" content=\"2020-08-24T20:41:44+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-08-24T20:41:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synq.tech\/a\/wp-content\/uploads\/2020\/08\/business-communication-computer-connection-preview1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"728\" \/>\n\t<meta property=\"og:image:height\" content=\"546\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@synqsuite\" \/>\n<meta name=\"twitter:site\" content=\"@synqsuite\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Organization\",\"@id\":\"https:\/\/synq.tech\/a\/#organization\",\"name\":\"SynQ\",\"url\":\"https:\/\/synq.tech\/a\/\",\"sameAs\":[\"https:\/\/www.facebook.com\/synq.suite\/\",\"https:\/\/instagram.com\/synqio\",\"https:\/\/www.linkedin.com\/company\/csq-holdings-llc\",\"https:\/\/www.youtube.com\/channel\/UCE5zXkohdP_uGIky0X1YDGA\",\"https:\/\/twitter.com\/synqsuite\"],\"logo\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/synq.tech\/a\/#logo\",\"inLanguage\":\"en-CA\",\"url\":\"https:\/\/synq.tech\/a\/wp-content\/uploads\/2019\/08\/synq.png\",\"width\":3880,\"height\":1648,\"caption\":\"SynQ\"},\"image\":{\"@id\":\"https:\/\/synq.tech\/a\/#logo\"}},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/synq.tech\/a\/#website\",\"url\":\"https:\/\/synq.tech\/a\/\",\"name\":\"SynQ\",\"description\":\"The Leader in Crypto Forecasting\",\"publisher\":{\"@id\":\"https:\/\/synq.tech\/a\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":\"https:\/\/synq.tech\/a\/?s={search_term_string}\",\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-CA\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/synq.tech\/a\/2020\/08\/24\/august-23-2020-weekly-recap\/#primaryimage\",\"inLanguage\":\"en-CA\",\"url\":\"https:\/\/synq.tech\/a\/wp-content\/uploads\/2020\/08\/business-communication-computer-connection-preview1.jpg\",\"width\":728,\"height\":546},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/synq.tech\/a\/2020\/08\/24\/august-23-2020-weekly-recap\/#webpage\",\"url\":\"https:\/\/synq.tech\/a\/2020\/08\/24\/august-23-2020-weekly-recap\/\",\"name\":\"August 23 2020 - Weekly Recap &bull; 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