1. Jin Chao, Binance Strategic Director, believes that Bitcoin is in the fourth life cycle and can grow to $ 50,000 – 100,000.
He noted that between these values a critical point in cryptocurrency distribution will be reached. He also added that during the current trend, cash flows are unlikely to be channeled into the Altcoins, although this was the case during 2017.
«Recently, the correlation between Bitcoin and Altcoins has been falling. People begin to discern what they trust more and what tools are needed only for speculation».
2. A similar opinion is shared by Max Kaiser. In a conversation with CNBC, he said that, due to the improvement and spread of technologies such as Segregated Witness and Lightning Network, people are starting to see Bitcoin as both a tool for capital preservation and a tool of micropayments.
According to Kaiser, altcoins will disappear completely over time, because all the money will gradually flow into Bitcoin. «The domination rate may well grow to 80% or even 90%».
3. Bloomberg noticed that 40% of Bitcoin growth in May occurred during the weekend. The price peak of $ 19,666 in December 2017 was also reached on Saturday.
Why it happens? The author of the article propose several versions.
– Outrunning of events. Many companies announce important news on Monday morning. And as it is well known, the market moves on expectations. Accordingly, traders start buying assets in advance, awaiting the announcement of positive news.
– Group thinking. It is talking about traders communicate with each other. On weekends, they can meet, share their opinions on future news, discuss past events.
– FOMO. It is assumed that traders watching the movement of quotations join the trading process at the weekend, because they are afraid of missing out on the possible benefits.
It seems to us that all the points are a little far-fetched, but the main and obvious reason is quite simple- the critical currency market operates 24/7/365, respectively, growth is possible on weekends and on weekdays.
4. Spencer Bogart, Blockchain Capital’s general partner, commented on the growth of Bitcoin.
He believes that this behavior is characteristic of any asset with limited supply and incomprehensible demand.
«Do people buy a vintage Ferrari to ride it? Or a piece of art because it is beautiful? No. They are locked in storage because these things are limited in quantity. There will be no more Picasso paintings or vintage Ferrari. These things are a means of accumulation. This is a scarce asset».
5. If you are a Bitcoin player, then you have to rejoice: Bitcoin has been a profitable investment 98.2% of the days since its inception. This is the conclusion reached by analysts at Holdcalc.com. Of the 3,830 days that Bitcoin exists, it was unprofitable to invest in it only 69 days-almost all days of December and January 2017.
It should be noted that the study doesn`t need to be taken seriously, because if Bitcoin goes down from current prices, the number of unprofitable days will be a lot more.
6. Jesse Powell, CEO Kraken, commented on the view that stablecoin Tether could be the cause of recent Bitcoin growth. He noted that during the growth of the first cryptocurrency, the number of fiat deposits on the trading platform is also growing. Therefore, Tether is hardly a source of inflation in the market. It reflects the situation transparently.
«The increase in rates is triggered by the influx of new users, but they are already ordering more USDT. That is what drives the price, but not the Tether».
7. Meanwhile, Bitcoin updates its local bottoms. The first cryptocurrency dropped below $ 10,000 in the morning of July 2, Tuesday. In the last 24 hours, the drop is 10.5%.
UPD: Then it bounced off the local bottom in the region of $ 9,850 and at the time of writing this publication, it was trading at $ 11,350.
8. Calibra registered as a cash operator at the US Treasury Department for Financial Crime (FinCEN), it applied for a money transfer license in the United States and began the process of obtaining BitLicense from the Financial Services Department of New York.
Sean Pak, venture director of the company Anthemis, noted that the company will have to obtain hundreds or even thousands of licenses of regulators around the world in order to make all their plans in reality.
9. Security cryptocurrency research company «Digital Shadows» found more than 100 fake domains tied to Libra and several dozen with Calibra digital wallet.
10. Alexey Moiseev, Deputy Finance Minister, said that settlements in cryptocurrencies on the territory of Russia would be banned.
He also noted that there is a discussion about introduction of criminal penalties for mining, but so far they will not do this, because it is impossible to describe the offence. First of all, it is necessary to describe the subject.
11. However, at the same time, he noted that it is planned to develop regulatory standards for holding an ICO in the Russian Federation.
«No one`s going to ban. Many businesspersons ask when it will be possible to conduct an ICO transparently. It will all be regulated and allowed».
He also once again noted that he wants to give cryptocurrency the status of foreign currencies-trade would be legalized, the calculation would be prohibited.
A separate regulation of Libra is not planned.
12. For the first time since last May, the number of transactions in the Ethereum blockchain per day exceeded 1 million. According to Etherscan, 1,004,170 transactions were completed on June 28th.
It should be noted that the peak value (1,349,890 transactions) was recorded on January 4th.
13. On June 30 several large transactions were noticed in block 583 139 of the bitcoin blockchain. They belong to one user who made 25 transfers totaling about $ 6 billion.
In general, this information doesn`t have any threat or utility. The only one thing should be noted that there is possible in the Bitcoin blockchain transfer huge amounts of money with almost instant speed.
14. Binance announced the launch of a futures platform called «Binance Futures».
Initially it is planned to support futures for a pair of BTC / USDT with a maximum leverage of up to x20. Then the number of tools will be expanded, as well as the size of the shoulder.
15. The US rating agency «Weiss» assigned Litecoin an excellent rating for profitability and distribution.
In the meantime, the fourth cryptocurrency was rated «satisfactory» for an investment risk factor, and therefore its overall rating for risk-return ratio was B-.
16. According to preliminary data, the creators of the cryptocurrency wallet PlusToken», which has all the features of a financial pyramid, have disappeared with their users’ money. The total damage is estimated at $ 3 billion.