Deepdive into the crypto markets - July 2021
The crypto market
The price of bitcoin has been somewhat volatile but not enough to make a bitcoiner flinch. We are about 30 percent up in the past days since writing, but still down from the top. On twitter bitcoiners keep laser eyes in their profile pictures to illustrate that we are laser focused on reaching 100k USD. Until then the laser eyes say on. So add some laser eyes and join us in our (inevitable) wait!
Bitcoin and the traditional industry
Bitcoin is holding above its newly found arch enemy (that might have lost its arch enemy status recently bit more about that in another newsletter) Tesla. A kind reminder that you should take a minute to just contemplate the breathtaking miracle that is a decentralised protocol being more worth than most companies in the entire world.
Bitcoin and other cryptocurrencies
Bitcoin continues a slow march downwards over the long run in terms of market dominance. Recently we have seen a spike due to the recent increase in volatility on the downside in the industry. This often correlates to less stable assets falling sharper than the grandfather.
Today's educational content comes in a different form. Being in bitcoin is not just about understanding the industry from a logical and technical perspective. Understanding it only with your mind is shallow and will lead to the wrong decisions downstream. No, the real way to understand it is with your heart and mind. Therefore here comes some tunes that should inspire you to proceed further than you would have otherwise dared to. The Run of the Golden Bull
This month most impactful news
Data supports notion that China's bitcoin mining dominance faded ahead of the crackdown
Escrow company issues first-ever bitcoin-backed real estate loan
Paypal to expand bitcoin buying to UK, says wallet withdrawals in progress
Sen. Elizabeth Warren shoots down a key reason investors buy bitcoin, calls for tighter regulation