Bitcoin bull run update
Bitcoin still remains on a bull track while settling firmly above the $11k level. Bulls are currently seeking support for the next bull run, which seems to be justified this time around thanks to institutions that don’t want to “miss the boat”.
So, if the 2017 was all about hype and retail funds, the current surge is about institutional money flooding in. And they are in for the long run!
There’s no lack of different predictions for a Bitcoin price. However, based on Virtuse’s Nonlinear Model, we expect the bitcoin price to reach $100,000 within 5 years, and $1m by 2031. To learn more, check out the latest interview with our CEO, Ras.
The Libra case
Regulators all over the world continue with headless panic. Democratic Party in the US even called on Facebook to Halt Libra Cryptocurrency Plans. Lawmakers sent an open letter to Mark Zuckerberg as well as David Marcus, the chief executive of Facebook subsidiary Calibra, calling for a moratorium on any development on its proposed Libra cryptocurrency and digital wallet, Calibra.
Projects and adoption summary:
- The Telegram’s Gram pre-sale is estimated to start on July 10 at the price of USD 4. It is 201% more than investors paid in the second initial coin offering (ICO) round in March 2018.
- The eToro cryptocurrency wallet is adding support for 120 ERC-20 standard tokens.
- Blockchain startups raised $822 million in the first half of 2019.
- The sale of luxury building for €6.5 million in Paris has become the first-ever European blockchain real estate transaction.
- UK Regulators approve their first crypto hedge fund – London-based Prime Factor Capital Ltd.
- South Korean business conglomerates Samsung, LG and telecom giant SK are set to begin offering a range of blockchain technology-powered products and services this summer.
- Scotland-based BrewDog is selling its shares for selected cryptocurrencies.
What we read – Nice deep dive and stories: