Wall Street veteran is predicting a 50% decline in the S&P 500, potentially hurting Bitcoin’s prospects
BTC $9494 (+0.4%) • ETH $233 (+0.3%) • XRP $0.19 (-1%)
It’s been a frenzy for both Bitcoin and the stock market over recent months.
After March’s capitulation, which sent equities plummeting lower by around 40 percent and cryptocurrencies by around 70 percent, global financial markets have exhibited an extremely strong bounce.
The optimism seen in markets seems to be tied to the fact that the world’s central banks and governments collectively injected more than $20 trillion into the economy, largely offsetting the losses incurred due to the pandemic and the respective lockdowns.
Yet a prominent Wall Street fund manager, along with other prominent names in the investment world, remains bearish on stocks. And if the correlations that formed in March continue, Bitcoin is unlikely to benefit.
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Bitcoin (BTC) transaction fees fall below $1 while Ethereum GAS usage reaches ATHs
The world’s two largest cryptocurrency protocols are showing great promise in terms of network activity and inclusivity. While Bitcoin’s transaction fees fell to pre-halving levels, Ethereum GAS usage surged as DeFi activity increased in the past month, reaching an all-time high level.
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South Korea launches its digital currency committee as China’s Digital Yuan efforts speed up
South Korean efforts to launch a native digital currency are speeding up as China’s digital yuan continues to be extensively tested across the country.
Fund manager: If Bitcoin passes $10,500, price could surge as BTC enters “thin air”
Save for a few hours of price action deviation here and there, Bitcoin has effectively traded in a $1,500 range for nearly two months.
Bitcoin’s fundamental health slides as investors grow bearish, but whales don’t seem to care
The overall state of the Bitcoin network degraded again this past week, with the latest slide primarily being driven by waning sentiment amongst the cryptocurrency’s retail traders.
Why one prominent trader doesn’t think Ethereum will ever reach its all-time highs
Ethereum has seen an evolution in it is utility throughout the past several years.
Forbes founder says Bitcoin and cryptocurrencies protect from unstable financial policies; urges further development
The world’s billionaires and influential businessmen are increasingly speaking on Bitcoin as a hedge and investment while calling out the excessive money printing in the United States and uncertainty in financial markets.
Forget kittens, Chainlink’s verifiable randomness now brings fair winnings to “ChainFaces” golf games
A recently-launched project is now utilizing Chainlink to power golf games, building on the latter’s verifiable randomness function (VRF) that brings fair, “truly random” results on online games.
BlockDown 2020 speaker lineup to feature industry heavyweights
Scheduled to take place from June 18 to June 19, the BlockDown virtual conference will feature some of the most prominent voices in the crypto industry.
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The worlds no.1 3D Virtual Blockchain Conference is back. After a successful launch event in April, BlockDown 2.0 brings a host of top speakers like Akon, David Schwartz from Ripple, Jed McCaleb from Stellar & more for its summer edition. With top tier content and a 3D world that is a ton of fun to navigate, BlockDown continues to innovate by providing live translation into the hottest crypto markets - Turkish, Spanish and Chinese for a truly global audience.
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Disclaimer: None of the content in this newsletter is meant to be financial advice. Please do your own due diligence before taking any action related to content within this article.
