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15 Aug: Bitcoin Will Be Part of Everyone's Portfolio


"Good actions give strength to ourselves and inspire good actions in others."
- Plato

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Happy Monday Folks! Bitcoin was doing so well and then it hit that golden ceiling once again - $25K; the price is currently trading around $24,101.99. It's tapped $25K a few times and one more time might be the magic bullet to break right through and I believe that can happen this week.

On Jul 18th, Edward Dowd, former BlackRocks Executive, said something interesting and I highlighted it as a signal. Bitcoin ‘will be part of everyone’s portfolio,’ remembering seeing that article? Well today Thomas Farley, Ex-President of NYSE said, "Bitcoin Will Have to be A Part of Any Portfolio," sound familiar? Yeah, now ask yourself, why would these guys say that? What do they know that we don't know? What's coming down the pipe? Spot Bitcoin ETF? Or is it something more substantial? Maybe I am reading tea leaves or not - what do you think? 

Five things to know this week about Bitcoin: Keep an eye on $25K and accumulation is the name of the game under that price level. The macro economy CEFI Contagion crap, CPI data and following monetary policy decisions, geopolitical factors, regulation, etc it's all going to impact price. The funding rates continue to be healthy despite the run to $25K. Mining difficulty is due a second straight increase. Finally, 4-month highs for Crypto fear & greed index. 

Beside all of that, The MERGE will continue to take center stage and the performance of ETH will continue to drive the broader market - IMHO. In addition, the Tornado Cash debacle will continue to get equal press since it's such a pivotal issue, attempting to sensor code is not constitutional and will be fought on all fronts. 

Dive into the weeds below to read more about what's going on.

CRYPTO MARKET

  • Global crypto social engagement climbs over 450% in 2 years despite dull markets (Finbold)
  • Pension funds remain interested in crypto despite crash: WSJ (TB)
  • Crypto needs ‘enabling environment,’ Philippines central bank says (Cointelegraph)
  • Crypto Companies Raising Funds to Purchase Oil and Gas Exploration Blocks in the DRC (BIC)
  • Federal Reserve opens up master account access to banks with 'novel charters,' in win for crypto and fintech (TB | Cointelegraph | Coindesk | BIC)

IN HONG KONG, BITCOIN IS THE LAST CHANCE FOR FREEDOM

BITCOIN & ETHEREUM

  • Bitcoin maintains moderate price uptrend despite short-term correction (Finbold)
  • ‘Final week of the bear rally’ — 5 things to know in Bitcoin this week (Cointelegraph)
  • Bitcoin (BTC) Retraces After Briefly Breaking $25,000 (BIC)
  • Liquidations Cross $280 Million After Bitcoin Price Falls Below $25,000 (Bitcoinist)
  • Bitcoin price corrects after hitting a wall at a multi-month descending trendline (Cointelegraph | Coindesk)

TOM YANG ON BITCOIN, TRANSPARENCY AND MORE

ALTCOINS & STABLECOINS

  • Top 5 cryptocurrencies to watch this week: BTC, ADA, UNI, LINK, CHZ (Cointelegraph)
  • TA: Top 5 Crypto You Should Watch This Week – BTC, ETH, BNB, GMT (NewsBTC)
  • Price analysis 8/15: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, SHIB, AVAX (Cointelegraph)
  • Cardano (ADA) Breaks out From Long-Term Resistance Line (BIC)
  • Solana (SOL) Way Ahead of Ethereum (ETH) in One On-Chain Metric, Says Popular Crypto Analyst (TDH)
  • Solana Price Climbs To $47 As SOL Bulls Outshine Pesky Bears (NewsBTC)
  • Why Solana Could Poised For A 40% Price Move To The Upside (NewsBTC)
  • Dogecoin Ready For 4th Straight Week Of Gains – Even Without Elon Musk’s Backing (NewsBTC)

THE MERGE

  • Ethereum Slumps 5% as Merge Surge Falters (Decrypt)
  • Ethereum ICO-era whale address transfer 145,000 ETH weeks before the Merge (Cointelegraph)
  • Tornado Cash Total Value Locked (TVL) Spikes by More than $140 Million (BIC)
  • $ETH: The “Merge” Protocol Upgrade Will Not Lower Ethereum’s Gas Fees (Cryptoglobe)
  • Price Discount on 'stETH' Reflects Some Doubt on Smooth Ethereum Merge (Coindesk)

TORNADO CASH

  • Tornado Cash community fund multi-signature wallet disbands amid sanctions (Cointelegraph | Cointelegraph)
  • DeFi Web Apps Block Users Hit by Tornado Cash ‘Dust Attack’ (Blockworks)
  • Coin Centre May Bring Legal Action Against OFAC for Tornado Sanctions (CryptoPotato | Coindesk)
  • The Electronic Frontier Foundation Is ‘Deeply Concerned’ About Tornado Cash Ban (Decrypt)
  • Cryptocurrency Advocacy Group Says Regulators Overstepped Authority by Sanctioning Tornado Cash (TDH)

ANALYST'S CORNER

  • Greg Foss: Explains why BTC is more scarce than gold (Finbold)
  • Lyn Alden: Macro Guru Lyn Alden Says Bitcoin Is Structurally Bullish Long-Term, Despite This Year’s Collapse (TDH)
  • Michael van de Poppe: Identifies BTC’s position to watch ‘for longs’ as consolidation occurs (Finbold)
  • Nicholas Merten: Issues Crypto Warning, Says Bitcoin (BTC) and Ethereum (ETH) Showing Signs of Weakness (TDH)
  • Scaramucci: Highlights key factors why crypto market will soon recover: $300K before 2030 (Cointelegraph | ZyCrypto | TDH | Bitcoinist)
  • Mike Novogratz: Takes Another Bashing After "Saying Cardano Doesn't Have Traction with Developers" (UToday)
  • Peter Schiff: Bitcoin Still Very Bearish (NewsBTC)
  • Altcoin Sherpa: Ethereum, Binance Coin, NEAR, and ATOM Have Limited Upside, Warns Top Crypto Trader (TDH)
  • Coinshares: Crypto Funds See Minor Outflows, Ending Six-Week Inflows Streak (Coindesk)
  • Robot Known for Beating Crypto Markets Allocates to Ethereum (ETH), Cardano (ADA) and Additional ETH Rival (TDH)

NOTABLE VOICES

  • Thomas Farley: Bitcoin Will Have to be A Part of Any Portfolio: Ex-President of NYSE (BIC)
  • Kevin O’Leary: Will Ethereum Flip Bitcoin? Sovereign Wealth Funds Will Determine Top Crypto by Market Cap (TDH)
  • Kevin O'Leary: Reveals HNT to Portfolio Amid ‘Huge’ Allocations in Ethereum, Solana, and Polygon (TDH)
  • Kevin O'Leary: Sacrificing Tornado Cash worth it for institutional adoption (Cointelegraph | TDH)
  • Raoul Pal: The Merge Will Make Ethereum Even More Attractive to Institutional Investors (Cryptoglobe)
  • Citigroup: Is Bullish on Ethereum’s “Merge” Upgrade (Cryptoglobe)

ACCEPTANCE

  • Europe’s largest private retreader becomes world’s 1st in the sector to accept Bitcoin (Finbold)

ACQUISITIONS

CEFI CONTAGION

BLOCKCHAINS

  • Can New Recursion Tech Tackle High Ethereum Fees? (Blockworks | Coindesk)
  • Cardano Set To Trigger Vasil Upgrade On Mainnet As ADA Price Readies For A Go At $1 (ZyCrypto | CryptoPotato | BIC)
  • Cardano founder on Vasil: ‘The ship is steady and brighter days are ahead’ (FinboldUToday)
  • “ADA Whale” on Cardano’s Three Main Advantages Over Other PoS L1 Blockchains (Cryptoglobe)
  • "We Are Not Part of a Clan": Cardano Community Criticizes New Social Platform (UToday)
  • Is Solana Really Decentralized? A Validator Health Report (CryptoPotato)
  • Monero Rolls Out Enhanced Privacy Features With Hard Fork (Decrypt | BIC | CryptoPotato | Coindesk | Coindesk)

VALUING THE BITCOIN NETWORK INSTEAD OF THE ASSET

EXCHANGES

  • Canadian regulatory body allows Crypto.com pre-registration for operations in Canada (Finbold | Bitcoinist)
  • Crypto Exchange Coinify Obtains Regulatory Approval to Operate in Italy (Coindesk)
  • Gate.io's Hippo Financial Services Obtains Hong Kong Crypto Custody License (Coindesk)
  • Blockchain Services Firm Eqonex Closes Crypto Exchange, Citing Volatility and Dwindling Volume (Coindesk)
  • Coinbase Highlights Lightning Network’s Potential Disruption of the $150,000,000,000 Payments Industry (TDH)
  • Brazil’s Largest Brokerage, XP, Launches Bitcoin, Ether Trading (Coindesk | BM | Cointelegraph | Cryptoglobe | TB)
  • Binance receives in-principle approval to operate in Kazakhstan (TB | BIC | Coindesk)
  • Binance distances from WazirX as Indian regulators keep chasing crypto (Cointelegraph)
  • Troubled Crypto Exchange Zipmex Receives Three Month Creditor Protection From Singapore Court (EWN | TB | Cointelegraph | BIC | Coindesk)
  • Zipmex CEO Allegedly Asked to Step Down by Disgruntled Investors (BIC)
  • Vauld Pursues Legal Counsel After ED Issues Asset Freeze Order (BIC)

MINING

  • Bitcoin miner Bitfarms reports $142 million second-quarter net loss (TB)
  • Bitcoin mining stock report: Monday, August 15 (TB)
  • Miner Chandler Guo Repeats Support for Ethereum Fork Post-Merge (Coindesk)
  • Bitcoin Miner Greenidge Generation Shares Fall as Revenues Miss Estimates (Coindesk | TB)

LEGISLATION/REGULATION

  • Crypto Industry Eyes SEC’s ‘Regulation by Enforcement’ Ramp Up (Blockworks)
  • Canadian regulatory council creates new preregistration filing for crypto platforms (Cointelegraph)
  • EU Creates New Regulator For Crypto Oversight (Bitcoinist)

THE BAD

  • Man From Ohio Charged by CTFC for Alleged $12,000,000 Crypto Ponzi Scheme (TDH | Coindesk)

PODCASTS

 

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TheCryptoCurator
TheCryptoCurator

I've been aware of Bitcoin since 2011 and my desire is that you will be better informed about the digital asset industry by reading my daily post. If you want to sign up for SMS alerts - text CRYPTO to +1 (214) 380-2013.


The Crypto Curator
The Crypto Curator

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