Market Update for July 26th

Friday, July 26th 2019

Recent Headlines

Bitcoin Price Dips Under $10K as Analysts Disagree Over 2019 Trajectory

Bitcoin's price had been mounting gradually since April, reaching highs of close to $18,000 CAD in late June. Since our last newsletter, the price has had a significant bearish trend following renewed selling pressure. Technical trader Filb Filb anticipates the year ending at around $7,000. Others are more optimistic, like Mike Novogratz of Galaxy Digital who predicts $20,000. Not parabolic enough for you? Dan Morehead of Pantera Capital anticipates $42,000 by year's end, and $356,000 by 2021. Read more...

Number of Crypto Notables on Buffett Lunch Guest List Grows

The talk of the town this week is Justin Sun's dinner with Warren Buffett, which he won by paying a record-breaking 4.57 million to Buffett charity auction. The proceeds this year are going to San Francisco's Glide Foundation. Well, the dinner has been postponed beyond it's original July 25th date, due to Justin Sun falling ill with kidney stones. Confirmed so far to be attending with Sun at this eventual dinner will be Jeremy Allaire, CEO of Circle; Yoni Assia, CEO of eToro; Helen Hai, head of Binance Charity Foundation and Charlie Lee, founder of Litecoin. Donald Trump has been invited but has not responded yet.

Indian Regulators Officially Propose Total Cryptocurrency Ban

Last year India enacted a policy restricting banks from letting citizens purchase cryptocurrencies. This had meant that peer-to-peer trading platforms like LocalBitcoins have been the only way to buy or sell. This week the Reserve Bank of India officially makes public a report that would effectively ban the usage of cryptocurrency outright. Although banks would be allowed to utilize blockchain ledgers and research is permitted, the buying, holding and mining digital currency would be illegal.

Decentralized Cloud Storage is Changing the Face of the Internet

The internet of today is largely centralized around a few large technology companies, which can mean more security breaches, censorship, and lack of control over your data. Bitcoin has proven that we can decentralize something as sacred as money and not compromise security or privacy. So what else can be decentralized? IPFS, the Inter-Planetary File System, is a protocol to securely store files across a network of computers across the world. For a rundown of this technology, and services that you can use today that are built on top of it, check out part 1 and part 2 of this article on Hacker Noon.

You Can Now Withdraw BAT Tokens from Brave Browser

Brave announced on their blog that they are implementing a much-requested feature to withdraw your BAT tokens from their browser wallet. The token is an interesting experiment in fixing our relationship with advertisers and helping content creators get paid for their work. You can choose to tip websites or YouTube channels you endorse using the token, or have the browser do that automatically based which sites you visit most frequently.

3 Lessons I Learned while Trading on the 24/7 Crypto Market

Interested in getting into trading? It can be overwhelming when you're dealing with a market that is active 24/7, and stressful when you're not profitable for stretches at a time. Check out this article for some tips to start you off and tools you can utilize to lighten the work load.

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