The cryptocurrency market was going strong a week ago and the world’s biggest cryptocurrency Bitcoin’s value was above the clouds, but all of sudden the value of the currency almost dropped down by 10% bearish correction today. The market came down harder then it came down the previous year.

The value of the Bitcoin was increasing a week before, but the altcoins were not enjoying their best in the market. Initially with the high spirits of the recent market surge orchestrated by the largest virtual currency, as an ‘Alt-Season’, consisted of 118 cryptocurrencies that surge in the course of years than compare to bitcoin.

A parody of Lil Nas X’s Old Town Road made by Lil Bubble named by “All-time low”. The song shows the schemes and thinking of the people who play long period altcoin game.

Yesterday, the song was published on Twitter and it has already been re-tweeted by 2,291 times and it was liked by 6,686 people. The music video of the song include spaceman wearing “ledger on [their] phone” was playing an acoustic guitar and their tells their motive of direct the altcoin to their all-time low value and buy them when they are can’t move any further. They put logic about the alts they that are over-brought and due to this they are undervalued, but someday their value will surge. The spacesuit of the man in the song points out that the alts are going towards the moon.

The two spaceman walks in the desert and sun is setting being them, one is not taking a shot with another who is walking beside him grabbing the garbage specifying as altcoins such as Litecoin, Bytecoin, Zilliqa, Icon, VeChain, and Verge. While he is sitting down and wondering how he ended up here then the lines come “FOMO buy the pump, Panic sell the dump.”

They are not having any adventure as they haven’t lost because they know they haven’t sold. They were using their phones and holding a stack of dollar bills and looking for buying more.

The spaceman states,

“Buying all these sh*tcoin
You can keep your bitcoin
I am broke as hell
But I will never sell

Spaceman also replies talking to himself, “I’ll be holding bags ‘cause I am never missing my chance.” The comments are not enabled on the account that posted the video. The account of Lil Bubble is named as “$hitcoin extraordinaire” and in the past, he also had posted a video of Gary Jules’s song “Mad World” named as When Moon?

In the last few days, Litecoin has experienced one of the most unstable periods in the crypto-space. In the last 24 hours, the coin has suffered five major fluctuations in its price and remains quite unstable for that period of time. Among the five falls, the first has accounted for 4.61% of the losses. Then in the next 1 hour 37 minutes, there was an upsurge of 8.02% in the price.

This price has reached up to $136 before it dropped by 8.58%. After this decline, it rose again by 6.05% before the final price drop, which is about 8.54% of the value of the long-term. Regardless of the question of instability, medium-term prospects of LTC are still favorable. The medium-term perspective of the coin is bullish. It is possible that the LTC will reach about $200 by the end of the year. With the current analysis of the price detail of Litecoin via the LTC/USD chart, we can see that Litecoin’s price of $121.30 has seen surge up to 2.26%.

According to the LTC / USD trading chart for July, in market capitalization, Litecoin holds the place of being a fourth-largest digital asset. The ROI of Litecoin is 2,800.07%. The market circulation of LTC is 62,464,876 LTC with a total market capitalization of $ 7,805,616,070. Litecoin’s price stays at $ 124.98 at the time of the press, according to the market capitalization of about 24-hour trading volume of $ 5,738,119,114.

At the beginning of April, for all other altcoins, the price of Litecoin received its first price boost. LTC’s price rose 52.10% between 1^st April and 6^th April and traded at $91.81 from $60.26. This was followed by a drop of 27.14% over the next 23 days, where its price was traded at $66.57. Again, 52.65% rise in the price is observed again between 29^th April and 15^th May, where LTC is traded at $101.61.

There was another price increase, which represented at least 33.54% of the coin to $117.06 between 22^nd May and 27^th May. Again the next price increase of 34.97% is observed between 4^th June and 14^th June. The newest point of wobbling is when it dropped by 18.81% over a five-day period from 22^nd June. The market capitalization on 1^st June was $6,982,765,320 and the price of LTC was $112.41 for the coin. The current market capitalization of the coin and the price of the coin are 11.78% and 11.18% more than those achieved in the last month.

Litecoin’s price is rising for the medium-term. By the end of the year, the price of the coin is likely to reach about $200. The following resistance positions for the digital asset are $132.1933333, $142.1366667 and $148.0133333. While the next LTC support positions will be $116.3733333, $110.4966667 and $100.5533333. Litecoin’s price has shown significant potential for performance despite instability. Therefore, for the existing holders, it is recommended that if they want to make maximum profits, they must wait for at least a year.

BIS (The Bank for International Settlements) is trying to set up a shop in order to aid officials who need help to develop their own digital currencies by helping them embrace financial technology.

On Sunday, the BIS, which promotes cooperation among the world’s monetary officials, announced that it was starting an innovation hub for financial technology. In an interview with the Financial Times, BIS General Manager Agustin Carstens said that “it might be that it is sooner than we think that there is a market and we have to create our own digital currencies.”

The news comes after Facebook Inc. earlier this month unveiled plans to create a cryptocurrency called Libra which it expects will one day trade much like the dollar. This has been taking the crypto world by storm ever since it was announced as its implications are revolutionary.

Despite Carstens the head of the Basel, Switzerland-based BIS having spoken frequently about the impact of digitalization and has argued, there was a strong case for authorities to rein in cryptocurrencies like Bitcoin, which he said wasn’t functional as a means of payment. Yet central banks, notably Sweden’s, are looking into digital currencies of their own, and the BIS’s new hub is designed to improve understanding of nascent technologies and develop ways to improve the financial system.

“There needs to be demand for central bank currencies and it is not clear that the demand is there yet,” Carstens told the FT. “Perhaps people can do what they want by using electronic wallets provided by banks or fintech companies. It depends on the development of private stable coins.”

The BIS’s hub will be set up in Switzerland, Hong Kong, and Singapore, in collaboration with their respective monetary policy officials, according to a statement.

Tight your seat belts, get ready for an amazing ride in the world of cryptocurrency. World Trade Competition going to be held soon, as announced by Crypto Promoter and Computer Scientist, John McAfee. If you are a crypto enthusiast, this is the best chance for you to create your identity and leave your footprints in the history of time. The competition will be held in three stages, firstly being weekly competition, then quarterfinals and at last Word Trade Finals. The prize for the competition is $100,000 worth Ethereum.

On 29^th June 2019, John McAfee tweeted, “The McAfee Magic World Trade Cup competition for traders, https://t.co/wXbtkmdrVO being held using the https://t.co/5jRN3sSyUg practice trading option, has a $25,000 grand prize.” As it is a competition, it will let the traders showcase their skills in front of everyone and of course, the best one will win. The best trader will get the chance to meet McAfee itself, with his whole team. The competition will take place by the collaboration of McAfee Magic and World Trade Cup.

As written on the official website of McAfee Magic, “McAfee magic is a new, revolutionary; cryptocurrency trading platform McAfee magic enables both manual and automated trading, across multiple cryptocurrency exchanges, all at the same time and from the comfort of a single user interface!”

If we talk about the Prize Distribution, it will take place as follows:

1. In weekly competition, the trader who will hold the 1^st place will be given $500 in ETH, along with subscriptions to McAfee Magic. Traders at 2^ndand 3^rd places will only be given subscriptions to McAfee Magic. The 1^stand 2^nd place winners will only qualify for the quarterfinals.

    2. In quarterfinals, traders who will hold the 1^st, 2^nd, and 3^rd places will be given $3000, $2000, and $1000 in ETH respectively. The 1^st and 2^nd will be given subscriptions as well. In this round, all the top 3 traders will qualify for the final rounds.

    3. In World Trade Finals, the trader who will hold the 1^st place will be given $25,000 worthEthereum, will also be given the best subscriptions of McAfee Magic, and he/she, with his/her team will get the golden chance to meet John McAfee. The traders at 2^nd and 3^rd places will be given $10,000 and $5,000 in ETH respectively and top subscription as well

Bitcoin has seen a quick rise up and then suddenly went down. While this was due to multiple reasons Bitcoin has now been fluctuating between bigger margins that would excite any investor. After its drop from highs of US $13,000 to a still-modest $10,000 on Friday, it again had a really fluctuating between the same figures but in a short period of time. Despite these 25-30% fluctuations, Bitcoin is predicted to soar above these heights and reach its 2017 highs.

Bitcoin’s Growth Pattern – A Trend of its Own

Bitcoin’s growth has been unusual with respect to the market conditions. It has been fluctuating in the last couple of weeks while the market has been kind to some and harsh to others. Bitcoin derivatives like Bitcoin Cash (BCH), Dash and Bitcoin Satoshi Vision (BSV) have been declining at a steady rate. Litecoin, another crypto which was thriving due to its halving event neutralized its recent growth due to exhaustion of FOMO.

Other notable currencies like Ripple and Tron have been growing due to their recent activities. Ripple’s deal with a major company and Tron’s announcement of a discussion of Crypto with Warren Buffet have made them prominent in the market right now.

Bitcoin’s Growth Sparking Mainstream Interest

It is not only Ripple’s Blockchain Network that has grabbed the attention of the mainstream banks, but bitcoin’s projection also has been a talking point between them. Many technical indicators support Bitcoin’s growth figures and it will be a golden opportunity missed if the banks and the governments don’t capitalize on it. Many central banks have already prepared tokens anticipating future growth.

The General Manager of the Bank for International Settlements, Agustin Carsten described the situation perfectly in an interview with the Economic Times. He said that it may be “sooner than we think that there is a market and we have to create our own digital currencies.”

SEATTLE, WA / ACCESSWIRE / July 1, 2019 / Internet in West Africa is extremely slow, expensive, and very unreliable due to the poor infrastructure and frequent power cuts in the region. However, there are only two mobile operators in this region, both of whom focus almost exclusively on voice communication but not 3G or 4G data transmission. The only reason these carriers provide internet is that they are required by law to do so. On the top of all, there is zero incentive for them to make it fast enough to use and cheap enough to afford.

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To provide high speed, reliable and cheap internet to the underserved community in Africa, a new telecom start-up, dubbed “Cajutel Sarl” have emerged. Despite the raging odds of the regional conditions in West Africa, Guinea-Bissau, based Cajutel Sarl telecom startup has recently attained its telecom license to operate as an internet service provider in the West African nation. This implies that they can start working on their project to provide high speed, reliable and cheap internet to the underserved community in Africa. Cajutel used Ethereum’s blockchain and created digital shares of their company.

Moreover, this startup has been proudly awarded “Tier 1 ISP Data Services License for Sierra Leone” which was first announced by the founder and CEO of Cajutel via Twitter on June 28.

Cajutel to Bring New Revolution in West Africa To Attempt Internet Crisis

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West Africa is looking for a telecom revolution breaking the odds of centralized monopoly, looking for a more decentralized unit to look after the country’s growing need of high-speed internet and to satisfy the needs Ethereum based telecom venture, Cajutel set to become the AT&T of Africa, breaking the stereotypes a decentralized AT&T.

Sierra Leone is a country with a population of 7.5 million, and that ranks closer to the bottom in world rankings of literacy, GDP per capita, and Human Development Index.

Sierra Leone currently has very unreliable and expensive internet, on average a person spends $99 per month for 5mbps internet. With the internet being so expensive, and the poor coverage of the country by telecom operators makes it difficult for users to use the internet and as more users joining the network will affect networks quality. Only less than 13% of the population is currently connected to the internet. Cajutel hopes to empower this nation by providing cheap, reliable and high-speed internet service which would enhance the nation’s education system and increase the GDP per capita.

How Is Cajutel Bringing Ultimate Solution to the Crisis?

Since there is no sustainable infrastructure that can be built upon or improved in the country and its neighboring regions, Cajutel will have to build everything from scratch which includes fiber wires and underground connections, etc from ground level. It has resorted to providing power to its systems through solar-panels as the local power is highly unreliable. Although this may increase the cost, it provides Cajutel complete autonomy of its resources.

Cajutel’s CEO, Andreas Fink, already has more than two decades experience in the telecom sector and aspires to scale the project from Sierra Leone to other neighboring countries. With very low competition from local vendors, Cajutel can definitely establish itself as a telecom giant since it will start from ground-up, meaning it will own all its infrastructure and not have to depend on other service-providers, thereby making it immensely reliable and highly autonomous.

Elaborating on how Cajutel is the only solution, Fink has stated: “In our case, we are using the Etherum’s ERC20 protocol in a more traditional way, which means that we are raising funds against the shares of the company, because at the end of the day you will have investors who put money down and expecting a return, they want to participate in your revenue which you are giving up.”

Cajutel’s Native Token CAJ – A Lucrative Investment Opportunity

Cajutel has the potential to transform Africa’s telecom landscape, especially through strategic partnerships with other telecoms, computer vendors; kiosks just to name a few. Investors have a chance to participate in a truly revolutionary idea. The company has embraced the Ethereum’s Blockchain methodology of raising capital, in other to open up opportunities for investment to smaller investors.

According to the project’s whitepaper, Cajutel has its own native token, named, CAJ which is witnessed as one of the lucrative investment opportunities. The business plan projected under CAJ’s whitepaper, the token is believed to be profitable and holders of token will be subjected for a dividend, the profit for a holder is projected to reach up to $824. In order, while contributors have the possibility to receive a high return on investment if the project succeeds and the newly issued digital token increases in value.

At the time of reporting, the current price of CAJ on Coinmarketcap was around $15.

Cajutel is one such project with a very active community in the telegram, and the CEO itself actively participate in answering investors queries, by far the project has been performing well, and with the license, the project is expected to reach a wider audience, Cajutel is currently listed on Idex and Mercatox exchange.

A major news came along from one of the most hotspots in the crypto market right, i.e., from the desk of the self-proclaimed Satoshi Nakamoto, Craig Wright.
While speaking about the disputed $10 billion Bitcoin haul, Wright revealed that the private keys that are imperative to access it will be released next year. According to Wright, the keys were to be delivered in 2020 by a bonded courier.
Well, these revelations came across during the ongoing Kleiman trial while Wright’s deposition was going on. Moreover speaking about the deepest concerns of Carolina Bolado, the Florida court reporter, the legal might be continued for a while now as Wright’s constant attempts to create havoc as well as confusion in the courtroom is something that doesn’t seem to end.
SHOCKING REVELATIONS
The entire trail duration might have been unproductive but somehow or the other it leads us to some shocking revelations that were not yet known in the entire market.
While creating all the havoc as well as dilemmas, Wright perhaps unknowingly made some really startling claims.
Since it was yet known that the disputed $10 billion Bitcoin holdings were completely unattainable. The entire market believed that there was no way it could ever be achieved. Unfortunately, turns out that it was never true at all.
The part that drew all the attention was, in the midst of all the drama, Wright himself ended up saying that the keys for those Bitcoin holdings aren’t unattainable. In fact, they are soon to be released in the year 2020.
The interesting part is, this is for the first time in almost a year when Wright himself admits the existence of such keys.

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On the 27th of June, 2019 the bitcoin price began a vicious 20% plunge. Despite it being painfully obvious, someone bought Ethereum at $5,000 in real-time.

About a week ago, the Grayscale Ethereum Trust (ETHE) launched on over-the-counter market OTCQX, enabling US investors – including retail investors – to purchase the product’s shares, which are backed by “physical” ether tokens. Much like Grayscale Investments’ flagship product, the Bitcoin Investment Trust (GBTC), ETHE began as privately-traded security, available only to accredited investors willing to front the large investment minimum. There’s plenty of ETH out there (more than $1.3 billion worth changed hands over the past 24 hours). However, there’s a very limited number of Grayscale Ethereum Trust shares. And even fewer are up for sale.

Accredited investors can purchase shares in Grayscale products at their net asset value and then, following a vesting period, dump them on the illiquid public market at hefty premiums to their actual value. Often to retail investors, who are either too ignorant to recognize they’re paying insane premiums or have a semi-compelling reason to pay far above market value to purchase bitcoin (e.g., a desire to hold BTC in tax-advantaged retirement accounts).

Someone bought Ethereum at more than triple its record price. According to TradingView, it actually popped higher a few days ago, though I didn’t witness this one in real-time. Today, ETHE has cooled off to a far more pedestrian $125. Meaning that investors are now buying ETH below its all-time high. But only slightly.

ETHE’s net asset value is currently about $27. This is very similar to what happened in December 2017.

With Facebook announcing the release of its cryptocurrency called Libra next year, the upper echelon has finally notice of this and they are not happy. Facebook announced its cryptocurrency on 18th June and told that the currency will be made public in the first quarter of 2020. Everybody knew about this project but nobody expected it to be launched so early. While most of the market’s skepticism doesn’t affect Facebook, but if it’s from anyone from the Federal Reserve, they sure are affected.

Fed Chairman’s Reaction To Libra

Jerome Powell is the current chairman of the Federal Reserve. He is very skeptical of the idea of Facebook entering the crypto space. He has stated that there will be ‘Very High’ scrutiny against this crypto. “The Federal Reserve will be observing and monitoring the Libra development and launch very carefully”, Jerome Powell said. He promised the community that Facebook will be treated with high standards, making implications that it would be a sure shot success from the start. He said the following about Libra :

“Libra’s a new thing; we are looking at it very carefully. Given the possible scale of it, I think that our expectations — from a consumer protection standpoint, from a regulatory standpoint — are going to be very, very high. […] Authority for overseeing Libra is going to be in several places, but I think that the big picture is we are going to be looking really carefully at it.”

Also Read: Facebook finally secures dozens of investors for Libra, but aims for more

Impact Of Facebook On Crypto

The concern of the Federal Reserve is valid as big companies entering financial space makes governments nervous. This crypto is said to make a sure shot impact as it is backed by many successful companies as well as the giant called Facebook developing it. Many crypto pundits speculate the start of the Libra rally with an immense FOMO and a huge flock of investors. While this could get huge traction to the crypto world, it could put down bitcoin from the center stage.

Facebook denies that Libra would post a threat to Bitcoin, but it’s Announcement alone had set the market on a mini fire. The potential of Libra is huge and it can tap into any areas as its reach is large too. It will make an interesting case if it is immediately used in Uber and PayPal services. Also, Facebook can use the user data of everyone to make it’s crypto more “appealing” or use it in some other way. Whatever may happen it would be an interesting prospect to see what is made of Libra when it is launched.