Last week has seen another wild ebb and flow of the cryptocurrency market. Bitcoin is down 8% this week continuing a trend of an almost 20% drop over the last month. Earlier today, the bitcoin price hit a low for 2018 of $5,825 causing flashbacks of early 2014 when Bitcoin experienced an 80% correction. Despite the large drop, analysts have remained optimistic because the Mt. Gox legal battle is nearing an end which many have speculated is a major key in the markets volatility and the impending launch of Coinbase custody which is expected to draw institutional investors to the cryptocurrency markets. Optimism in the Market Following a trend of major investment personas comparing Bitcoin to a bubble, eToro CEO Yoni Assia has stated that “selling crypto now is like selling Apple in 2001”. Statements like these are a big reason why investors get "FOMO" (fear of missing out). And another wild assumption from Blackmore Group CEO Phillip Nunn claiming that "bitcoin will hit 60,000 this year". The CEO is standing by his prediction despite Bitcoins price falling below $6,000. He further stated his prediction was based on market volatility, which we’re currently seeing. Hacks Last week had also seen its fair share of hacking incidents. In China, over 100,000 internet café computers have been infected with malware designed to mine cryptocurrencies. Unlike most cryptojacking malware, this malware runs at full speed resulting in higher electricity costs and computers becoming unusable. Sixteen have been arrested so far. Korean exchange Bithumb has been hacked for a third time in the past year. This follows the hacking of another Korean exchange, Coinrail which the Korean government explains is even more of a reason the crypto market needs to be regulated. And finally, Cornell professor Emin Gün Sirer has predicted that a vulnerability in the EOS blockchain, caused by its centralization and its teams inability to handle safety issues in the past will lead to a massive exchange hack, affecting even those who don’t use EOS. EOS has been touted as an "Ethereum killer" but the launch has been slightly rocky. Adoption in the Market Square has been granted a ‘BitLicense’ in New York. Square, a publicly held fintech company headed by Twitter CEO Jack Dorsey was granted a license to exchange virtual currencies in New York through the Department of Financial Services. Square is now the seventh company granted such a license. Square, and newly licensed RobinHood, look to battle mega exchange Coinbase to get a foothold in the crypto market.