Crypto Newsletter

$135K for December: Stock-to-Flow Creator Lays out Bitcoin's 'Worst Case Scenario for 2021'

The pseudonymous creator of the popular stock-to-flow (S2F) bitcoin price model, Plan B, has published his “worst case scenario for 2021” predictions on social media on Sunday. The analyst says there’s also a “more fundamental reason” to why bitcoin prices have been dropping in June and how the month of July may see “weakness” as well.

Top Analyst Says He’s Investing in One Untapped Altcoin Amid Crypto Correction

Altcoin Daily host and crypto analyst Aaron Arnold is spotlighting a new under-the-radar altcoin, as the crypto markets continue to correct and Bitcoin trades around $35,000.

In a new video, Arnold tells his 848,000 subscribers that he is investing in decentralized finance (DeFi) protocol Formation Finance (FORM). Formation FI is a cross-chain DeFi platform that is optimizing the search for favorable risk-reward ratios in yield-farming opportunities across the crypto space.

DOGE dumps as Dogecoin-sponsored NASCAR driver crashes

A Dogecoin-donned race car hit a wall in spectacular fashion over the weekend as DOGE fared much the same in the markets.

Saturday’s National Association for Stock Car Auto Racing (NASCAR) Xfinity Series Race in Nashville ended in disaster for the Dogecoin sponsored car, with the DOGE-emblazoned Chevrolet Camaro driven by Stefan Parsons smashing into the wall on lap 70.

Digital euro offers better privacy protections than private stablecoins: ECB official

European Central Bank (ECB) executive board member, Fabio Panetta, has argued that a digital euro offers superior privacy protections than privately issued stablecoins.

Panetta criticized the profit motive of private firms, emphasizing it is in their commercial interests to harvest masses of data on their users.

‘You’re a moron if you sell’ your Apple stocks and Bitcoin because…

Bitcoin, for a very long time, has been facing a lot of skepticism over the last decade. Ranging from its use in illegal transactions, energy concerns, price volatility, and the list goes on. Many within the industry even compared the coin to a bubble about to burst.

According to a report by Crypto Parrot, a cryptocurrency trading simulator, Bitcoin reached $1 trillion twice as fast as Amazon and three times faster than Apple.

Cryptoverse Gets Another Unicorn Despite Market Downturn

Venture capitalists are still pouring hundreds of millions into the infrastructure of the cryptoverse, hoping the whole nascent industry will grow further despite a recent sharp correction in the market.

Indian lawmakers review the proposed bill banning cryptocurrencies

India’s central government is reportedly reviewing the bill that would ban the use of cryptocurrencies in the country in what could spell a last-minute change of direction to the laws around the local crypto sector. According to the BloombergQuint report, the government of India is working alongside sector regulators and stakeholders in contemplating whether or not a total ban on cryptocurrencies should be brought into force. Governments across countries are actively working on regulating cryptocurrencies.

Three Arrows Capital CEO on What Caused Bitcoin’s Over 40% Drop

Last week, Su Zhu, Co-Founder, CIO, and CEO of Singapore-based crypto-focused hedge fund Three Arrows Capital talked about the past, present, and future of the crypto market.

The former Deutsche Bank trader’s comments were made during an interview with pseudo-anonymous crypto researcher “Hasu” for an episode of the “Uncommon Core” podcast that was released on June 17.

Bitcoin hashrate hits 8-month low as Chinese miners power down

Bitcoin’s hashrate has fallen to its lowest levels since early November as mining operations in China start unplugging.

Bitcoin’s network hashrate, a measure of its computational horsepower, has slumped 46% since its peak level in mid-May. According to Bitinfocharts, Bitcoin hashrate is currently 91.2 EH/s (quintillion hashes per second), close to half of its 171.4 EH/s high posted less than six weeks ago.

Ethereum Resumes Decline, What Could Trigger Drop Below $2K

Ethereum started a steady decline from well above $2,400, similar to bitcoin. ETH traded below the $2,250 and $2,120 support levels to move into a bearish zone.

There was also a break below the $2,100 support zone and a low was formed near $2,041. Recently, ether started a decent recovery and climbed above the $2,200 level. However, the price failed to clear the $2,250 and $2,280 resistance levels.