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Bitcoin Rallies Past $4,000-Mark As Crypto Rebound Gathers Pace

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Bitcoin Rallies Past $4,000-Mark As Crypto Rebound Gathers Pace

Bitcoin rallied above $4,000 on Friday, leading the broad cryptocurrency market higher as the biggest digital asset headed for its best week in a year.

The token has gained more than 28% since Monday, on course for the largest weekly advance since the peak of the crypto craze in December 2017.

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Other cryptocurrencies including Ethereum and Litecoin also jumped, and the Bloomberg Galaxy Crypto Index is up more than a third this week.

Analysts who watch chart patterns for hints on future price direction had said this year’s sell-off may have gone too far. Bitcoin plunged through long-term support at $6 000 in November, taking its losses for the year to more than 80%.

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Yet momentum indicators, including the relative strength index and the GTI VERA Convergence Divergence Indicator, suggested that near-term prices could climb.

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African News

France Policies In Africa Is Creating Poverty – Italy’s Deputy PM

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France Policies In Africa Is Creating Poverty - Italy's Deputy PM

Italy`s Deputy Prime Minister Luigi Di Maio has reiterated on Monday that France’s policies in Africa were creating poverty and causing migration.  France had summoned the Italian ambassador to Paris to protest his assertions.

Di Maio told reporters, that France is one of those countries that by printing money for 14 African states, prevents their economic development and contributes to the fact that the refugees, leave and then die in the sea or arrive on western coasts.

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Di Maio was referring to the CFA Franc, a currency used in 14 west and central African nations, which is tied to the euro at a fixed exchange rate, with the peg guaranteed by France.

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He called on the European Union to “address the question of the decolonisation of Africa, accusing France of still treating a number of African countries as vassal states.

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South Africa’s President Calls For Lifting Of Sanctions On Zimbabwe

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S.African President Calls For Lifting Of Sanctions On Zimbabwe

South African President Cyril Ramaphosa has called for sanctions against Zimbabwe to be lifted. He said on Tuesday, his government was in discussions with Harare about how best to help.

He added that, Zimbabwe’s situation was a challenge for the whole of Africa and he planned to meet Zimbabwe president- Emmerson Mnangagwa.

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Meanwhile Mnangagwa has promised on Tuesday to investigate violence against civilians during protests and punish any misconduct by security forces.

The Zimbabwe Human Rights Commission (ZHRC) said on Tuesday security forces instigated systematic torture of residents. It says, the level of force used on those who died or injured and supported by medical reports pointed to police brutality.

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Police say three people died during violent demonstrations last week, but human rights groups say at least a dozen were killed.

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African News

Uganda: Musicians Must Register And Obtain Licence Before They Release Songs – Govt

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Uganda: Musicians Must Register And Obtain Licence Before They Release Songs - Govt

Uganda’s government is proposing regulations for new songs. Junior Minister for Gender, Labour And Social Development, Peace Mutuuzo, said in an interview that the new regulations to govern the music and entertainment industry were already drafted and expected to be passed by cabinet by March. Adding that musicians and other artists will also have to register with the government and obtain a practising licence which can be revoked for a range of violations.

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A list of restrictions including requiring artists to submit to authorities, lyrics for songs and scripts for film and stage performances to be vetted. The minister said, content deemed to contain offensive language, to be lewd or plagiarised, will be censured. Musicians will also have to seek government permission to perform outside Uganda.

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Critics say the regulation is aimed at discouraging negative comments about the authorities who are rattled by the popularity of pop Star Bobi Wine and other critical voices in the entertainment industry.

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