The theft of 342,000 Ether (ETH) from South Korean cryptocurrency exchange Upbit could have halted the current relief rally taking place in the crypto market. However, Lee Seok-woo, the CEO of Upbit’s operator, Dunamu said that the company will cover for the losses. This erased some of the initial concerns of the market participants and improved sentiment. When sentiment is negative, the markets fall quickly but take a lot longer to rise.
This week a bullish bit of news came from Bitcoin ATM firm Bitstop. The company intends to install Bitcoin ATMs at several Simon Malls locations in the United States. Ahead of the holiday season, Bitstop has already installed Bitcoin ATMs at five locations. Andrew Barnard, Bitstop co-founder and CEO said that the “customers can conveniently buy Bitcoin while doing their Black Friday and Christmas holiday shopping,” as it is the “perfect gift for family and friends.”