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  1. CBDC will determine the future of money and cryptocurrencies According to Guy Sheffield, Visa’s head of crypto. In the next ten years, the development of central bank digital currencies will affect the confidentiality, monetary sovereignty of states, geopolitics and the adoption of bitcoin. “I’d argue that central bank digital currency (CBDC) is one of the most important trends for the future of money and payments over the next decade. Regardless of anyone’s personal views of whether it’s good or bad, the reality is that global interest in it is not going away,” Sheffield tweeted. He noted that earlier single articles from central banks were issued on this topic, and now there is a non-stop flow of information from experts, scientists and organizations. European companies favor Ethereum European Blockchain startups most often choose the Ethereum platform, according to research by LeadBlock Partners. 27% of the projects are based on Ethereum, followed by Hyperledger (20%), Corda (16%) and Bitcoin (8%). Analysts note that the choice of blockchain depends on the area in which the company operates. Ethereum is preferred by startups from the real estate, cultural and art sectors since it is convenient to tokenize such assets on the platform. Hyperledger is popular in the healthcare, food and agricultural sectors, and Corda in the financial business. The Block: Bitcoin popularity is far from peak The massive spreading of bitcoin will come soon, according to the Block’s analysts. Currently, the popularity of the first cryptocurrency is far from the peak levels of 2017, when BTC was worth $20’000. Weekly trading volumes then amounted to $17 billion, and in 2020 their average level did not exceed $2.5 billion. In Google, searches for bitcoin dropped by 8 compared with the end of 2017, and the bitcoin page on Wikipedia was studied 30 times less. Cryptocurrency exchange accounts on Twitter gain subscribers 47 times slower: in January 2018, they received 254,000 new users, and in 2020, an average of 5,340 per month.
  2. Elon Musk denied rumors of cooperation with ethereum Last year, actor William Shatner tweeted that he had been preparing to create an Ethereum-based product with Ilon Mask and Vitalik Buterin. Yesterday, Tesla’s CEO decided to reply to the tweet and said that he was working with a crypto project. “I’m not building anything on ethereum. Not for or against it, just don’t use it or own any,” Musk wrote. In 2019, the enrepreneur posted a post with the only word "Ethereum", but later said it was a joke. Musk also repeatedly spoke positively about bitcoin and reported that he owns 0.25 BTC. Bitcoin miners' revenues plunge to an annual minimum Last month, the profit of bitcoin miners plunged 23% to a minimum since March 2019. In May, miners earned $366 million, and in June they earned $281 million. The reason was the reduction in commissions and block rewards, CoinDesk analysts say. In May, after the halving, the mempool increased drastically, which lead to a growth in the size of commissions. By early June, the mempool decreased to its usual size, which led to a drop in commission fees. Last month, their share in the total income of miners was 8.3%, and in June this figure dropped to 4.3%. Peter Schiff: the bubble of 2017 was the last one for bitcoin Peter Schiff, Euro Pacific Capital CEO, once again criticized bitcoin as opposed to gold. He noted that gold shows better profitability, and the idea of long-term retention of bitcoin is crazy. “Since hitting its high in June of last year the price of Bitcoin has fallen by 33%. During that same time period the price of gold has risen by 27%. So, priced in gold Bitcoin has fallen by 53%. The long-term trend has clearly changed in gold’s favor. HODLers remain delusional,” Schiff tweeted. He added that the peak of the BTC bubble occurred in 2017, and now the cryptocurrency price is in a long-term downtrend.
  3. Bitcoin brought 70 times more profit than indexes Buy Shares experts compared the profitability of bitcoin and five leading world indexes. It turns out that over the past five years, BTC has generated an average of 70 times higher profit than indexes. During this period, the value of cryptocurrency increased by 3,400%. The NASDAQ index, which includes shares of all companies trading on the exchange of the same name, brought 96% in profit. The S&P 500 index, which includes 505 companies with the largest capitalization listed on US exchanges, grew by 46%. The Dow Jones industrial index showed a similar increase - by 42%. The lowest result was shown by the index of the British stock exchange FTSE 100, losing 7% in price. Bitcoin whale transfers almost $1 billion for a 50 cents fee A transaction in the amount of 101.8 thousand BTC (about $920 million) took place in the bitcoin blockchain. On June 27, an unknown person sent coins to an anonymous wallet. Then he transferred 5,000 BTC to one address, and the remaining 96,800 BTC to another. At the same time, the commission for each transfer amounted to about 50 cents - the whale paid $1.5 for all operations. The transaction was recorded by the Twitter bot BtcBlockBot. Twitter approval of bitcoin at an annual low The number of posts with the approval of bitcoin on Twitter fell to the lowest for this year - for a month and a half, the indicator slipped by half. According to Santiment, the day after the halving, the positive mention indicator set a maximum of 12 months at 781 mark. Now, this indicator is 327. At the same time, the total number of Bitcoin posts has also decreased, according to Bitinfocharts. On May 11, on the day of the halving, the number of references reached 82,838, and today it has dropped to 32,380. In Google, searches for bitcoin dropped by three times less after the halving.
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  5. Jim Rogers: bitcoin will drop down to zero Renowned American investor and Chairman of Rogers Holdings Jim Rogers stated that bitcoin continued to be a bubble and at one point in the future its price would plummet to zero. He pointed out that cryptocurrencies could not exist because they were not controlled by authorities. "But their governments have something that crypto people don't have. That is guns. The reason why I think cryptocurrency will be gone eventually is that it is not based on the armed force of governments' power.", Rogers worded his point of view. He added that money was turning into a digital form, but it continued to be controlled by regulators unlike cryptocurrencies that would not be able to become legal tender. Max Keiser: the BTC price will grow to $400,000 when dollar collapses Bitcoin investor Max Keiser confirmed his forecast about the growth of the first cryptocurrency exchange rate up to $400,000 and specified that specific dates would depend on the collapse of the US dollar. According to Keiser, the interest payment on the USA's national debt comprised the main item of expense for the government. "The debt is big. But the interest on that debt is now bigger than America’s number-one budget item, the military’s 1.6 trillion spend. When the interest on the debt gets close to 100% of GDP then America will officially be a failed state. This looks like it will be the case within 5 years — as short interest rates snap back to historic levels of 5%, not the current 0.5%", the trader said. He added that he had been waiting for BTC to grow up to $100,000 since 2011, but had recently increased his forecast to $400,000. The increase will start with the collapse of US dollar, Keiser thinks. Anthony Pompliano encouraged pension funds to buy bitcoin Co-founder of Morgan Creek Capital Management Anthony Pompliano addressed pension funds encouraging them to invest money in the cryptocurrency. Last week he sent a letter to investors where he called bitcoin the most effective equity in the nearest years to come. According to the businessman, pension funds should invest at least 1% of the capital in BTC — the optimal level would be 5%. "And you want to know where the greatest innovation is occurring at the moment? Bitcoin. There is a group of individuals who have built a $150+ billion asset with the goal of assuming the position of the next global reserve currency. If that happens, it will be the best performing asset for the next 20+ years. But even if that doesn’t happen, things will be okay", Pompliano pointed out.
  6. Bitcoin should cost $18,000 today Analyst PlanB writes. According to his estimates, the correlation between the S&P 500 index and bitcoin is 95% and the cryptocurrency is underestimated today. With the current index, BTC should cost $18,000, the analyst points out. PlanB also notes that the charts of both equities fit into the S2F model — according to the forecast, the next peak of bitcoin will occur at the level of $288,000 and S&P 500 will rise up to $4,300 in this case. The BTC price will continue to fall Popular trader CryptoCapo posted a series of tweets where he compared the current bitcoin chart with historical data. The detected "fractals" presuppose that the bitcoin exchange rate will continue to go down. According to the analyst, the price is ready to break through the support trend line. If the rate goes below $9,200, the next goal will be the level of $8,550, the breakthrough of which will definitely confirm the bear trend. CryptoCapo earlier posted the Wyckoff method estimate according to which the current accumulation would trigger the price movement to the point of $1,600. Bitcoin will go down to $6,900 towards autumn Crypto analyst Dave the Wave points out. According to his conclusions, the bitcoin exchange rate should drop down to the lower side of the global triangle where there is also the Fibonacci correction level of 0.382. The analyst points out that indicators confirm the bearish attitude and "the last but one chance" to buy at a low price will be near the level of $6,900.
  7. Buterin: the growth of the bitcoin price is not related to halving The co-founder of Ethereum Vitalik Buterin stated that the theory that the growth of the BTC exchange rate was related to halving did not work. The developer attached a chart of the S2F model according to which bitcoin periodically increased its cost together with halving the reward for mining a block. "The last $20k peak was near the halfway point between the 2016 and 2020 halvings", he pointed out. In the comments Buterin was told that the model predicted the quantitative growth of the bitcoin price, but it did not presume that the maximum will coincide exactly with the event of halving. The developer agreed that the absence of the direct correlation between halving and the growth of the bitcoin price did not disprove the theory, but said that he still did not agree with it. The price of Ethereum can rise up to $7,500 If the BTC exchange rate increases up to $50,000, Chris Burniske, a partner in the Placeholder venture capital firm, thinks. "If $BTC goes > $50,000 in the next cycle, and $ETHBTC returns to its former ATH, then expect to see $ETH > $7,500", he wrote in his Twitter account. According to him, the price of bitcoin will rise up to $50,000, even if the volatility of the new rally will be twice as less as the previous indices. In this case, the capitalization of the first cryptocurrency will rise above $1 trillion. It will allow bitcoin to strengthen its "macro equity" status, while ETH will be able to become a mainstream instrument, the expert thinks. The price of bitcoin will go down following the stock market Analyst Satoshi Flipper thinks. If the US shares continue the correction, the BTC price will fall to $7,300 before the middle of July, he writes. Satoshi Flipper points out that, by going below $9,400, the exchange rate has broken through the trend line that has been acting as a support one since May. The S&P 500 index fell down 2.79% this morning — the crypto market followed it as well, the trader points out. He adds that he has been holding the short position regarding bitcoin since the weekend.
  8. Survey: 36% of large institutions invested in Bitcoin Fidelity Investments surveyed 774 institutional investors from Europe and the USA - it turned out that 36% of them had purchased Bitcoin and other cryptocurrencies. These include hedge funds, financial managers, pension funds and other market participants. At the same time, the share of such investors increased from 22% to 27% over the year in the USA, while in Europe the figure is even higher - 45%. Tom Jessop, CEO of Fidelity Investments, explained that this is due to more relaxed European legislation and the prevalence of negative rates. “These results confirm a trend we are seeing in the market towards greater interest in and acceptance of digital assets as a new investable asset class,” he concluded. 80% of ETH holders are in positive territory 80% of Ethereum owners bought cryptocurrency at a price lower than the current one, according to Glassnode. Over the past two years, the indicator was at such a high level only three times. At the same time, the last time the price of ETH was $700, now the asset is trading at around $245. At the end of March, with the price dropping to $108, the share of investors in profit fell to 18%, a record low since 2016. The historical maximum price of Ethereum was set in January 2018 at around $1,430 - since then, the cryptocurrency has fallen in price by 83%. Glassnode previously noted that more than 77% of ETH has not moved over the past six months.
  9. Again, miners sell more BTC than they mine After the halving of the block reward, miners have to sell more coins than they can earn, according to a report by Arcane Research. The company uses the Miner’s Rolling Inventory (MRI) metric, which tracks the number of coins generated and moved by miners. If the figure is above 100%, then they sell more BTC than they mine. In March, the MRI reached 105%, then began to decline and fell below 100% on the verge of halving. Immediately after the event, the indicator began to grow and now has again reached the level of 105%. According to Arcane Research analysts, this indicates a change in the mood of miners after halving. Commission fees at ETH have surpassed BTC Ethereum network activity continues to grow: last Saturday, daily transaction fees exceeded Bitcoin levels. According to Glassnode, for the ETH network, the figure was $498 thousand against $ 308 thousand for BTC. Analysts attribute this to the growing demand for transfers in Ethereum. In addition, recently the capitalization of stablecoins has been growing, the bulk of which operates on the ETH blockchain. Earlier, the founder of Mythos Capital, Ryan Sean Adams, noted that there is a direct correlation between commission fees and the price of Ethereum. If the trend continues, then we can expect a growth of cryptocurrency price. What altcoins will surge in price along with Bitcoin? Simon Dedik, co-founder of the Blockfyre analytical portal, shared his opinion. He noted that in 2017, during the rally of Bitcoin price, almost all altcoins went up in price. In the next cycle, this situation will not happen again, and only the most important altcoins for the crypto industry will surge in price. These, according to the analyst, include Ethereum, Litecoin and XRP. Not all representatives of the crypto sphere adhere to this opinion. So, TV presenter Max Kaiser said that altcoins can not compete with the first cryptocurrency in the future. A similar position was expressed by the CEO of Morgan Creek Digital Anthony Pompliano: in his opinion, all altcoins will become useless and disappear from the market.
  10. CoinMetrics: signs are emerging that may mark the beginning of an altcoin season The analytical service CoinMetrics drew attention to the price growth of some crypto assets. Cardano has risen 40% in the past week after announcing the launch date for the next major update “Shelley”. OmiseGo price doubled after Coinbase announced the coin’s listing In addition, ETH price grew by 14% per week, ahead of a number of “core assets” - and the majority of altcoins work on the ethereum blockchain, analysts note. “Such market movements in response to mainnet launches, new product upgrades, and exchange listings are reminiscent of late 2017,” CoinMetrics experts conclude. Miners reduced bitcoin sales The Glassnode portal has published data on the influx of coins to exchanges from mining pools. It turned out that after the halving on May 11, miners reduced sales, and now their volume is much lower than the average values for 2020. Over the past two months, sale peaks were observed on May 3 and 7, when Bitcoin price surpassed the $9,000 and $10,000 marks, respectively. Service experts also noted that a surge in BTC price on June 2 above $10,000 provoked an eight-fold increase in the flow of traders’ funds to large exchanges. After the dip to $9,500, the indicators returned to average, which indicates the importance of the round level of $10,000 for market participants. Bitcoin has got protection against attacks by authorities Bitcoin Core 0.20.0 was released on June 3. It contains a solution designed to protect the network from attacks of major players, such as nation-states or corporations like Google. Software “Asmap” was included to protect against a theoretical “Erebus” attack. Such an attack involves blocking or substituting P2P connections to isolate a specific part of the network. The attacker must connect to as many nodes around the victim as possible so that all eight of its external connections go through the attacker's network. Thus, the victim is completely isolated from the main blockchain. Theoretically, such an attack, carried out by an entire nation-state, could fracture the entire Bitcoin network.
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  13. JPMorgan: Bitcoin is trading 25% below the real value Although the investment bank JPMorgan does not work with cryptocurrency, the company's specialists occasionally provide analytics on it. According to the bank’s report of May 22, bitcoin today is trading “25% below what the intrinsic price would be after the halving.” The intrinsic value is calculated on the basis of the average cost of mining one coin. Thus, BTC should be trading near the $11,500 mark, which is about $2,400 higher than the current figures. According to JPMorgan, "eventually bitcoin will catch up." Miners push the market Miners turned into sellers, exerting pressure on the market, says analyst CryptoKea. Over the past seven days, they have sold 955 coins over what they mined. “We reached Bitcoin miner capitulation territory,” the analyst concluded. At the same time, the BTC hashrate fell to its lowest level in 2020. Even during Black Thursday, when the rate of the first cryptocurrency fell to $3,800, the computing power of the network was 94 TH/s. Now it has fallen to 90.30 TH/s. Miners switch off outdated devices, but they are forced to sell bitcoins to pay for current expenses, CryptoKea notes. The number of “hodlers” increases to the levels of 2016 The number of coins that have not been moving for more than a year has reached 60%, according to cryptanalyst Philipp Swift. This indicates a significant increase in the number of "hodlers" - investors who prefer to hold coins for a long time. The last time this was observed in 2016, it was several months before the bull rally, Swift notes. The analyst used the data of his own HODL Wave indicator, which estimates how long the coins did not move from one address to another. Currently, the indicator value is at levels close to the historical maximum.
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  15. Bitcoin whales withdraw 17,000 BTC over a few hours Large holders of bitcoin in several transactions withdrew 17,320 BTC (about $169.4 million) from several exchanges, the Whale Alert service noticed. First, 5,000 BTC was sent from Bitfinex to an unknown address. Then 3,058 BTC was transferred from an account on Binance exchange; 2,645 BTC were moved from OKEx in two transactions. A little later, another 3,164 BTC were withdrawn from OKEx, and 1,593 BTC from Coinbase. The senders and recipients are unknown; all transfers were made during the evening and night of May 19. Twitter users have suggested that whales accumulate coins on the verge of the upcoming Bitcoin price increase. Bitcoin price drops to 0 on BitMEX On May 19, the BTC/ USD price collapsed to zero at BitMEX, one of the largest crypto derivatives trading sites. After that, the platform suspended trading for several hours. Representatives of the exchange did not explain whether there was a real deal at the rate of $0, or whether it was a technical malfunction. BitMEX said that “all funds are safe”, now the website is working as usual. The other day, a lawsuit was filed against BitMEX, among other accusations, the exchange was accused of price manipulation and fraud. Bitcoin mining difficulty decreases by 6% On the morning of May 20, the first change in the complexity of mining Bitcoin took place after the recent halving — the indicator fell by 6%. The reason lies in the hashrate falling after halving the block reward. Now outdated equipment can once again generate revenue at the cost of electricity below $0.05 kW/h. In some provinces of China, due to the rainy season, tariffs for miners have been reduced to $0.03 kWh/h. This may prompt miners who have switched off, to return to cryptocurrency mining, according to Alejandro De La Torre, vice president of the PoolIn mining pool. According to BTC.com, in two weeks, complexity may decrease by another 6.3%. In early March, the indicator updated its historical maximum, but after the collapse of the exchange rate to $4,000 at the end of the month, it fell by 15.95%.
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