Lorenzo Stroe
Independent Analyst
Here is what you need to know on Tuesday, June 30, 2020
BTC/USD is trading around $9,200 recovering from a slight drop to $9,070. For the most part, Bitcoin has remained flat.
ETH/USD has experienced similar price action but the recovery was worse and it’s trading at $225 after the daily 12-EMA and the 26-EMA have crossed bearishly.
XRP/USD is down 0.6% but holding $0.17 for now. The digital asset is in free-fall mode.
Molecular Future, an unknown cryptocurrency is ranked 143rd after a massive 1600% pump. Next on the list is Elrond with a 20% price increase today and $26 million in trading volume. Celsius is up 12% but almost 60% in the last seven days.
Chart of the day: MOF/USD daily chart
Market
According to Kirobo, a blockchain startup, Bitcoin sent to the wrong address can be canceled and retrieved.
Until the right code has been provided by the recipient, the sender can retrieve the funds at any time [...] Kirobo does not hold the user’s private key and has no access whatsoever to the funds or their destination: the password simply governs whether the transfer is finalized or not
According to Max Keiser, Bitcoin could reach $500,000 thanks to a hash rate war between the US and Iran. Currently, Iran controls around 3% of Bitcoin’s global hash rate and Keiser thinks Venezuela can get up to 5%.
And then at some point America will say, ‘We’ve got to enter the 21st century space race of mining Bitcoin,’ and then they’ll try to seek 20% of the hash rate, and then security goes up dramatically, and the price goes to $400,000, $500,000. — Max Keiser
Industry
DEX, a trading platform for cryptocurrencies has secured a Financial Services Permission (FSP) in the UAE. The platform will be able to offer accredited and retail investors the opportunity to buy virtual assets.
DEX CEO Leon Smith said:
At DEX, our goal is to provide investors with a digital assets platform that delivers a best-in-class, fully regulated trading experience. For us, that means ensuring confidence through robust regulation, transparency, and security.
Quote of the day
I do think Bitcoin is the first [encrypted money] that has the potential to do something like change the world. – Peter Thiel, co-founder of PayPal
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Editors’ Picks
Dogecoin and Bitcoin Cash Price Prediction: Funding rates decrease indicate weakness in DOGE and BCH
Dogecoin and Bitcoin Cash registered 3% and 8% losses on Tuesday following increased selling pressure from the futures market. The decline comes amid large-cap cryptos like Bitcoin, Ether and XRP, holding still with slight gains.
XRP could sustain rally amid growing ETF and SEC vote prospects
Ripple flaunted a bullish outlook, trading at $2.1505 on Tuesday. Investor risk appetite has continued to grow since the middle of last week, propping XRP for a sustainable upward move triggered by the swift decision by US President Donald Trump to suspend reciprocal tariffs for 90 days.
VeChain Price Forecast: VET bulls aim for a double-digit rally
VeChain price hovers around $0.023 on Tuesday after breaking above a falling wedge pattern the previous day; a breakout of this pattern favors the bulls. Bybit announced on Monday that VET would be listed on its exchange. Moreover, the technical outlook suggests rallying ahead, targeting double-digit gains.
Dogecoin, Shiba Inu and Fartcoin price prediction if Bitcoin crosses $100K this week
The meme coin market fell sharply on Monday, shedding 4.8% in market capitalization to settle at $49.25 billion, according to data compiled from CoinGecko. The sell-off coincided with increased volatility across broader crypto markets while investors rotated funds into Bitcoin briefly tested $85,000.
Bitcoin Weekly Forecast: Market uncertainty lingers, Trump’s 90-day tariff pause sparks modest recovery
Bitcoin (BTC) price extends recovery to around $82,500 on Friday after dumping to a new year-to-date low of $74,508 to start the week. Market uncertainty remains high, leading to a massive shakeout, with total liquidations hitting $2.18 billion across crypto markets.
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