The Use Case for Bitcoin was Finished – Mike Novogratz


Mike Novogratz at the 2019
Ethereal Summit stated that Bitcoin would not change the world by itself by
being a store of value.  He opined that
the use case for Bitcoin “was finished.”

When talking about the Altcoins,
he stated, “There’s no one building anything on the Litecoin blockchain.”
However, in the past, Novogratz had glorified selling Litecoin and had called
it a testnet for Bitcoin.  He stated that
several Altcoins would succeed with their unique use cases.  He previously predicted that Bitcoin would
hit on the $20,000 in the forthcoming 18 months.

For a short period Bitcoin
hovered beyond the $8,000 on May 14, 2019.

The price of XRP has been up by
17%.  The price tested the yearly highs
above $0.3700 touching at $0.378. While several cryptocurrencies have been
trading for more than 100% ever since the beginning of the year, XRP has been
in the red.  The support and resistance
level has been hovering at around $0.30-$0.31. 
The total market capitalization of XRP climbed above $15 billion
sustaining the third place in the market.

Borse Stuttguard has listed
Litecoin ETN and XRP.  The ETN can be
used by the traders to bet on XRP and LTC. The ETN has been made available in
the exchange from May 13, 2019. 
Swiss-based exchange as well launched the ETP based on the XRP.

ETNs are unsecured debt
securities, which are a lot like ETFs traded on stock exchanges.  Such products permit investors to gain
exposure to asset classes.  Thus
investors will be exposed to cryptocurrencies without having to purchase them

The increase in the price of Litecoin is at par with that of other coins, which has been trading around 90$.  Several other Altcoins have been rising by 6.02% on a daily scale.  Litecoin has a market cap of $5.63 billion and continues to be on the bullish course along with Bitcoin.

The bull run of Bitcoin has
triggered the rise of XRP as well.  XRP
has been trading in smaller ranges of $0.30 for quite some time now.  Considering past highs, there is tremendous
room for the growth of XRP and the last alt-season was in reality triggered by
XRP. The XRP price is trying to catch up with the positive momentum of Bitcoin.

However, when discussing the
speed of Bitcoin one of the tweets read: 
“When I post about #bitcoin
I get shilled that it’s slow compared to ripple or bcash or whatever crap. Yes,
I can use a Google Spreadsheet, and it’ll be faster than bitcoin too, but

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While it could be argued that investing in Bitcoin is certainly a risk, Cameron Winklevoss, – one-half of the famous Winklevoss twins – believes that it’s not as risky, or as he puts it “crazy” as waiting on the sidelines.

The Winklevoss brothers are known for their bullish ways, especially when it comes to Bitcoin (BTC); and today is no exception with Cameron offering his famous rhetoric on the #1, encouraging speculators to jump in and invest.

According to Cameron while some think you would be mad to invest in BTC, he states that you would be crazy not too, equating the rise of cryptocurrencies to the “future of money”

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Update From New York City’s Blockchain Week


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For the last five years, every spring CoinDesk has been hosting its blockchain technology conference Consensus in New York City. The idea is to bring together the top brands and developers in the cryptocurrency and blockchain spaces to learn what’s new and what’s next. The event has grown to include the surrounding Blockchain Week, which includes both official and unofficial events thanks to the volume of attendees.

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Cryptocurrency is moving past the toddler stage and people are starting to pay more attention to the underlying blockchain technology. The CryptoNouveau event was a great place to meet the top thinkers in the blockchain space and learn where they think the technology is going next.


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Central Bank of Russia Expects Crypto Draft Bill to Be Adopted in Spring 2019


The central bank of Russia believes that the draft bill on crypto regulation is prepared enough to be adopted in the spring of 2019, local news agency TASS reports on May 22.

Olga Skorobogatova, first deputy governor of the Russian central bank, has stated that the bank expects the crypto bill, “On Digital Financial Assets” (DFA), to be adopted during the spring session in 2019 in accordance with the order of the country’s president, Vladimir Putin.

Speaking at a recent meeting of the Parliament, Skorobogatova argued that the DFA, as well as a draft law on crowdfunding and other crypto-related bills, are at a “sufficiently high degree of preparedness” to be adopted during the session.

The official has also emphasized that all those draft laws are “crucial for the country and will allow for the implementation of new projects.” Conversely, Russian prime minister and former president Dmitry Medvedev had…

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Goldman-Sachs Backed Circle Blames ‘Restrictive’ US Laws for Layoffs


Bitcoin and crypto are rising, but Goldman Sachs-backed Circle laid off 10 percent of its workforce blaming a ‘restrictive’ regulatory climate. But is that just a smokescreen to mask Circle’s dwindling user base?

SEC Bullish on Bitcoin, Bearish on Alts

OK, so we may not call the SEC exactly ‘bullish’ on Bitcoin. In fact, quietly cautious at best, downright suspicious at worst.

But at least the regulatory body has it clear that Bitcoin is not a security. It’s even considering Bitcoin ETF proposals, albeit at a glacially slow pace.

The same cannot be said for the majority of ICOs. While there are rumors of change on the horizon, it appears that for now, they…

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Bitcoin Falls Under $7,900 as US Stock Market Sees Minor Uptrend


Wednesday, May 22 — most of the top 20 cryptocurrencies are reporting moderate losses on the day by press time, as bitcoin (BTC) falls under the $7,900 mark again.

Market visualization courtesy of Coin360

Bitcoin is down over .5% on the day, trading at $7,850 at press time, according to CoinMarketCap. Looking at its weekly chart, the coin is down over 1.83%.

Bitcoin 7-day price chart

Bitcoin 7-day price chart. Source: CoinMarketCap

This week, Cointelegraph reported that CME Group, the second global exchange to list bitcoin (BTC) futures, is about to record the biggest trading month for BTC futures trading.

Ether (ETH) is holding onto its position as the largest altcoin by market cap, which currently stands at $26.9 billion. The second-largest altcoin, XRP, has a market cap of $16.5 billion at press time.

CoinMarketCap data shows that ETH is up over .5% over…

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