Another week has passed and we are ready to tell you about the main events in the crypto world. Despite the recent announcement about the possible fall of Bitcoin to $26,000, JPMorgan continues to actively hire specialists to its crypto division. Also, Apple announced last week the hiring of new employees specializing in blockchain technology. There are even new courses at colleges and universities, which only proves the continuous growth of the recognition of cryptocurrencies in the world.
The bullish mood in the market is also evidenced by the latest report from Bloomberg – Bitcoin $20,000 or $100,000. In the new report, Bloomberg states that the growth of the first cryptocurrency will contribute to the release of the market from the excess of speculative positions while all the previously valid fundamental prerequisites remain in force. They also believe that if the trend continues, Ethereum can enter into direct competition with BTC for first place in the cryptoworld.
“Ethereum faces competition from other crypto-asset and smart contract platforms, but the No. 2 crypto has won the adoption race as the go-to for digitalization of money and finance.”
By the way, this week we have not seen a big drop in cryptocurrencies. On Friday, another tweet by Elon Musk slightly spoiled the weekly statistics. Elon said that bitcoin broke his heart. Bitcoin reacted with a slight drop (by 3k). And with the stabilization of the market situation, commissions have also normalized. Commissions on the Bitcoin and Ethereum networks fell to a six-month low. On May 12, the average commission on the air network rose to $70, and now it is about $5.
Now let’s move on to other news of the outgoing week:
1. SpaceX will launch an Ethereum node on the International Space Station in June. The infrastructure provider said that having an Ethereum node in space will provide additional security, in the event of a failure of the centralized servers on Earth.
2. Bitcoin may reach $220,000 by the end of 2021. Popular TV host Max Kaiser said that large companies are increasingly buying Bitcoin because of the “serious problems” of the US dollar — the US currency is experiencing inflation due to the policy of the Federal Reserve System.
According to him, by the end of the year Bitcoin will grow by 500% and reach $220,000. He called the key turning point in the history of the crypto worldMicroStrategy’s $1 billion Bitcoin purchase — it was after this that the mass corporate adoption of the digital currency began.
3. The Central Bank of India has lifted the “ban on cryptocurrencies”.
4. JPMorgan has not ruled out a further decline in the price of Bitcoin. In their opinion, the fair value of BTC in the medium term lies between $24,000 and $36,000.
5. Electric car manufacturer Daymak has announced the release of a new Spiritus model that will mine cryptocurrency while charging and parking. The electric car will mine digital coins “from Dogecoin to Bitcoin”
6. Google will again allow ads for crypto exchanges and crypto wallets from August 3.
7. The European Union will soon introduce a single digital wallet
The app will be available to residents of all 27 Euro Zone countries. It will allow them to log in to local government websites, pay utility bills, and serve as a repository for digital documentation.
Access to the application, in addition to standard methods, can be obtained by scanning a fingerprint or retina.
8. Hungary will be the first country in the world to erect a statue of Bitcoin’s mysterious creator, who will receive a life-size bronze bust in Budapest. The bronze bust designed by two sculptors, Réka Gergely and Tamás Gilly, will depict a hooded figure, a reference to both the unknown creator and the “people of the internet.” Although the sculpture will have a face, it will be a reflective surface in which everyone can discover their own reflection when they stand in front of it. This reinforces the idea that “we are all Satoshi.”
9. Almost forgot about NFT! The most beautiful woman in the world will now be captured forever on the blockchain. 11 digital portraits of the incredible Marilyn Monroe will be sold as NFT. The collection, titled Metamorphosis of Marilyn, includes works by 3D artists Blunt Action, Starving AI, Bloo Woods, Aitana Basquiat, etc.
Stay tuned to our wallet, enjoy the usable interface and transaction security, and check back for updates and news on Twitter, Telegram, Facebook, Reddit, and LinkedIn. Let’s learn the cryptocurrency market together step by step!