Bitcoin has been creeping up the charts in terms of growth and has become the centre of the crypto world after 2 years. This growth of Bitcoin after crossing the US $10,000 barrier was speculated as setting up the initial pace of a bull run or climax run, but it has been stopped dead in its tracks by the price going down from a high of $13,950 to just touching the $11,000 barrier in a day. This has not been good news for Bitcoin as suspicion of many investors of the Bitcoin bubble before it blows up has more or less been confirmed.

Why The Price Went Down

Bitcoin’s price went down from $13,850 to higher values of $10,000 in a matter of 24 hours. This kind of growth isn’t favourable at all as the recovery of this can be a mountain climb ahead. Bitcoin is still tanking now and not looking to stay up. The price went down from $10,947 to $10,737 in a matter of minutes while writing this article. The reason behind such bearish behaviour of the price can be sighted to multiple incidents.

Firstly, the main reason for Bitcoin’s price increase was due to Facebook announcing the launch of its own cryptocurrency next year. This crypto will be called Libra (named after the project on which it was established and also scrapping the terrible name GlobalCoin). The announcement had boosted Bitcoin’s growth and helped it break the $10,000 barrier. Now, the hype is down no more new investors have come to buy Bitcoin and that has led to stagnancy in the market.

Also, some sources sight to the price is down due to the Coinbase website going down. According to CNBC who got in contact with a Coinbase spokesperson the site was down for a small period of time due to “high volume”. The price was also down due to investors cashing in at the highest price. Whatever the reason may be, Bitcoin’s comeback (if there is one) from this slump would be legendary.

The Former payment processor of WikiLeaks, and the CEO of Cajutel, Andreas fink recently took his twitter to announce, that Cajutel is awarded ISP license to start operations in Sierra Leone.View image on Twitter

Andreas Fink@kiwi66

We are proud to announce that @Cajutel has achieved Tier 1 #ISP #Data #Services #License to start its operations in #SierraLeone. Cajutel will bring affordable, HighSpeed internet to the masses of #SierraLeone. #bitcoin #ethereum #ERC20 #crypto #cajutel816:31 – 28 Jun 2019See Andreas Fink’s other TweetsTwitter Ads information and privacy

Andreas’ Icelandic company, DataCell assisted WikiLeaks in credit card processing in 2010. They’re fighting with the centralised financial system from a long time, In an Interview with The Associated Press, CEO of DataCell Andreas Fink said: “I would seek damages from the American financial companies over their decision to block WikiLeaks funds. It’s difficult to believe that such a large company as Visa can make a political decision.”

In 2017, they launched an ICO named Cajutel, the name itself is funny but is based on Cashew nuts usually found in Guinea-Bissau. Cajutel is a Guinea Bissau based company under Swiss ownership. Its main purpose is to provide internet connection in Africa and mainly focused on West African countries. Cajutel is one of the many efforts to bridge the gap between the “digital divide” that Africa faces. Cajutel was started on 18 August 2017, where it started its project by an ICO, which launched a token for its funding. Since the ICO is over Cajutel seems to be performing well on Exchanges.

Cajutel’s Business Model

Cajutel was started as an effort to increase internet access in West Africa. For that, it started an initial coin offering (ICO) to fund its project. With increasing profits, it will provide dividends to its shareholders. Cajutel Business plan is targeting the price per token to reach $824. Cajutel wants to target the relatively untapped market of mobile phone internet access market. In Sierra Leone, the estimated number of mobile phones in use is in millions. However, only a meagre of few thousands have access to the internet on their mobile phones that also in very low speed.

Cajutel is looking to close this disparity and get as many users as possible. In addition, it looks to target one of the biggest problems that have lead to negligent internet access throughout Africa, expensive internet. Internet service prices are so high in Africa that the idea of the internet being a basic human right has been obscured. Internet price in Sierra Leone is the US $60 per month for just 300 kbps. For that price, one can get 100 Mbps fast access in the US.

Cajutel’s ISP License – A Catalyst for Development

This step itself was a major game changer as no other competitors even thought about it as they were too busy in capturing new markets to monopolize. While this was a great move in retrospect, Cajutel still has to balance the pricing with proper speeds. Due to providing such lucrative services at prices lesser than anyone else provides in the market, they could capture the market by storm.

As we are already known to the high-profile nature of the upcoming lunch of Justin Sun with Warren Buffett, it might be our first thought that he would play his cards close to the vest. Well, Justin Sun has recently announced on social media about “three-Michelin starred restaurant in…historic Jackson Square” on 25^th July worth of $4.5 million meal, in the Quince of San Francisco. You must be thinking that this is a really high amount for lunch, but if you ask Sun, it is totally free and priceless. In a blog post, Sun said, “After narrowing the choices to three, I ultimately chose Quince because its food represents the traditional and the upstart — much like the participants in the lunch itself.”

Along with the lunch, Justin Sun has also called a press conference to be taken place before and after lunch. But Buffett will be there till morning press conference only whereas Sun will attend both. Quince has agreed to put the favorite drink, Cherry coke of Warren Buffett on the menu. It could help the billionaire to stay warm and feel like a home. As we all know about the Bitcoin’s roller coaster ride, there is a lot to talk about it for Sun and Buffett. Probably we may think about the subtopics they going to talk about are about Bitcoin’s surge in price that may result in an argument for Buffett that how Bitcoin has turned into a “gambling device.”

Also Read:  Justin Sun and Warren Buffett together for Lunch, to unwrap further layers

What needed to be discussed in the lunch? Why Sun is so curious to have a meal with Buffett? Well with such a volatile biggest cryptocurrency, Bitcoin, there is a lot to discuss and a lot of mystery to unwrap. As we know that Buffett is a long term investor and is not a trader, so it will be easy for Sun to explain him things and take him into his discussion. The only thing that is needed to be taken into count in order to explain with clarity to Buffett is Bitcoin as a payment method, because there it may get tricky.

For the time being, it will not be easy to sell the store of Bitcoin to Buffett as he does not consider gold either. It’s just stocked for him. But he may go into the favor of stocks when it is about higher returns when the investment is done, and Bitcoin may win in this case. Well, you must be thinking that what is the strategy of Sun that will be going to work with Buffett? Justin Sun has revealed his strategy which consists of mainly these three parts.

1. vHe may start his discussion with the fact that some of the biggest companies in the world like Facebook, JPMorgan, and IBM, each have their own cryptocurrency and blockchain projects. Facebook has always been a good example as many can easily be related to social media easily, even if he is Warren Buffett.
2. Secondly, he can give the example of his own projects, Tron and BitTorrent. Sun said, “I’ll talk to Buffett and other attendees about how we’re integrating blockchain into BitTorrent, with its 100 million monthly active users and what we’re doing to expand and nurture the TRON blockchain.” It’s just that Sun needs to stay away from being too technical with the known Luddite; it may increase his chance to convince Buffett.
3. Lastly, it is about the meal. Sun said, “Lastly, I’m looking forward to a great meal!” Sun will be going to invite seven guests for this lunch. One among the seven is the creator of Litecoin, Charlie Lee, as announced by Justin Sun.

It might turn out to be bad news for a majority of the millennials because it might reveal the debilitating aspects of the crypto market in India. Since the majority of the population is yet not much convinced with this whole idea of cryptocurrency and changes in the deep-rooted financial system’s ordeals which resulted in late arrival of crypto in our country.

This might be the reason why even after crypto has found a place in this country, the cryptocurrency exchanges don’t seem to survive long here.

India has already witnessed the closure of many crypto exchanges like Coindelta, Coinome, and Zebpay. But unfortunately, it witnessed one more recently.

The Indian cryptocurrency exchange Koinex has officially announced that it will be closing its operations from now on. When asked about further details, it said its increasingly difficult to work in an environment where there is minimal support from the bank as well as regulatory uncertainty in the country.

Co-founder of Koinex, Rahul Raj, wrote on his blog post:

“The last 14 months have been tough to operate a digital assets trading business in India, on account of the closure of bank accounts holding user deposits,”

As far as the difficulties are concerned, the crypto exchange undoubtedly had to face many of them. They not only faced denials in payment services from banks and payment gateways but also witnessed enormous blockages of transactions for trading the cryptocurrencies.

Keeping these major concerns in mind, Raj further wrote in his blog post:

“Multiple delays by the government agencies in clarifying the regulatory framework for cryptocurrencies despite our pending writ petition in the Supreme Court of India, coupled with regular disruption in our operations, the final decision has been taken.”

Bitcoin, the world largest cryptocurrency has crossed the $12K yesterday and it is going strong and stable, but the present time the value is under slight bearish pressure. Bitcoin will cross the value of $20k within the period of two weeks, the experts have predicted. On June 25, 2019, eToro’s analyst, Simon Peters predicted that the currency will reach up to the value of $50,000 or $100,000 by the end of this year.

As per Simon, bitcoin went up to $20k within the period of 7 to 14 days last time it was at the value of $11,800 in the year 2017. He alerted that his predictions are based on believing that bitcoin is keeping its parabolic trajectory.

Current Status of Bitcoin: Currently, at the time of writing the currency is trading at the value of $12,105.56 USD and presently its value is decreasing by -4.39%. The currency’s market capitalization is $215,277,982,895 USD and the 24-hour volume of the currency is $44,814,681,496 USD.

Peter thinks that this time the situation of the increase in the value of bitcoin is different from previous times. This is different because it is coming from the investors and institutions those in the past invested their funds in stablecoins. He said, “With the number of sell positions building in the market it’s possible we could see a correction very soon. Even if that was the case though, bitcoin continues to remain on track to close out the first half of the year on a highly positive note. We could see bitcoin reaching $50,000 or even $100,000 this year.”

Peter also stated that the currency’s success has affected the altcoin in the market and some of them has been beaten badly as we can see by their decreasing value. Yesterday the parabolic bulls of bitcoin were very strong, but today they are fighting with the bearish pressure today. As per theCoinMarketCap’s data, the currency crossed 60% of the dominance in the market since April 2017.

Visa, MasterCard, and PayPal have cut off the WikiLeaks funding eight years back. They together account for the world’s largest payment services market with 97%. The blockade was political that was backed by the Republican senators. WikiLeaks has published about the Chelsea Manning, providing evidence of the US military missile strikes and civilian killings in Iraq; the suspension of cash inflows has stifled Julian Assange for short interval of time.

It was the time for the crypto-wave to climb out of the proverbial telephone booth, the underpants over the pants and save the day? After all, the philosophy of the Bitcoin was to cut out the intermediary, be it a civil servant or a corporate lackey, and realize a radical future in which, for example, Afghan women banned from opening bank accounts could work and get paid in Bitcoin.

“Screw big business. Google, Microsoft, and WalMart can all eat flaming death as far as I’m concerned … where systems like Bitcoin can be helpful is in making both government and big business irrelevant and obsolete.” writes Mike Gogulski in a fascinating thread on bitcointalk.org. In December 2010, there was a lot of enthusiasm from cypherpunks for WikiLeaks to contact Bitcoin on their donation website.

Why do not we live in this radical future in 2019? One reason is the enemies of the Bitcoin to be sure that he never arrived. For example, the Indian government has refused to recognize the lawsuit as a legal tender. Facebook refuses to advertise the cryptocurrency as it develops its own. Earlier this month, it launched the Libra crypto, which opens up the possibility that Mark Zuckerberg techno-oligarchy is not just more valuable and more powerful than many national states, but will be able to print its own money.

What rests is the reminiscence for the recent past when the overthrow of power seemed possible. On the same thread in 2010, another cypherpunk adds: “bring it on. Let’s encourage Wikileaks to use Bitcoins.” But that did not happen. Satoshi Nakamoto, the mysterious nickname, probably not Japanese, but probably British, perhaps even multiple inventors of the bitcoin rejected the notion: “No, don’t ‘bring it on’ … I make this appeal to WikiLeaks not to try to use Bitcoin. Bitcoin is a small beta community in its infancy … the heat you would bring would likely destroy us at this stage. “

Since then, Bitcoin has been disappointed with extremists who have hoped that this could provoke a revolution. The first Bitcoin transaction took place 10 years ago. Since then, wealth has accumulated (in December 2017, Nakamoto was worth more than $ 19 billion, making it probably the 44th richest man in the world if he/she/ they were human), and riches were lost since the beginning of 2018, when Bitcoin’s came in and created a revolution in the world of cryptocurrency.

Bitcoin’s enemies were not only the one, but there are also internal ones too. The power over the Bitcoin network is focused in the hands of those few whose computer skills and mathematical skills are sufficient to mine for Bitcoins. Just as the sex guns were co-opted by the business they put as a desperate agent, as well as the vision of decentralized, uncensored, free internet that was shaken by its commercialization, the battle was taken over by that economist Nouriel Roubini calls ” charlatans and swindlers”.

What’s rescued is not as much a bit as the Nakamoto vision of it. Like FBI agent Fox Mulder in The X-Files, only Nakamoto does not trust anyone, and this philosophy has supported his invention. In Bitcoin, cryptographic evidence replaces the insecure trust of the people in the institutions.

Key to this: what is meant is that the verified but unverified transactions are aggregated into a block that is distributed to the user network and added to a bunch of other blocks. This block is kept, at least in theory, by every user in a “distributed ledger” that eliminates the need for a central third-party authority.

The book is purposed to explain how blockchain works and why it still inspires. It consists of the Bitcoin of the Nakamoto 2008 Electronic Money System on Equal Access, a guide to it by block admirer Jay Klara Brekke, along with an appendix, an introduction by James Bridle, and information essays paralleling a Bitcoin with cryptographic work in Bletchley Park. A park that helped the Allies defeats the Nazis.

Brekke writes: “I want to make your eyes shine in bright-eyed wonder as you reread the Bitcoin white paper, just as mine did.” That is the preference from the book: her guide combines the repulsive fervor at the door of God with excitement for the elegance and unrealized potential of the Nakamoto idea.

Bitcoin may be the recycling of radical initiatives, and Nakamoto has not been heard since 2014, but the idea of ​​blocking self-defense for consensus development is still worth developing, not just to change the way we spend. In our seriously dissatisfied age, the block offers a better way than cynicism for corporations that violate state and privacy, though it is not ready to take over the world sooner.

Crypto alternate Coinbase had a short-lived outage Wednesday afternoon, with each of its website and API rendered quickly inaccessible, as the cost of bitcoin dropped greater than $1,700 within the span of 15 mins.
Consistent with Coinbase’s standing web page, the alternate reported main outages throughout its web site, cellular apps, and API, although its inside programs seemed to be useful throughout that length. When reached, a spokesperson advised CoinDesk: “We’re again up.” At Five:17 ET, the alternate’s standing web page famous: “A repair has been applied and we’re tracking the consequences.”

Consistent with its web site, buying and selling app Robinhood additionally reported problems with its crypto buying and selling provider.

The platform was once rendered inaccessible on cellular and desktop browsers round 20:45 UTC. Bitcoin’s value, which noticed a prime of just about $13,900 on Wednesday, fell over the last hour, losing as little as $11,900. BTC’s value was once at about $13,685 simply previous to the autumn, hitting $11,908.11 sooner than bouncing again upwards — a distinction of more or less $1,785. In spite of convalescing again above $12,000, the fee is lately soaring at more or less $11,920 as of the time of e-newsletter.

Consistent with knowledge BitMex, just about $250 million in quantity traded fingers in a Five-minute length surrounding the preliminary value drop, with just about $690 million in quantity buying and selling throughout 15 mins after the drop started throughout its XBT/USD perpetual switch contract marketplace.

Bitcoin’s value has been on a tear around the final week, coming with regards to 18-month highs above $13,000 previous within the day. The fee was once soaring round $nine,000 one week in the past.

According to data BitMex, nearly $250 million in volume traded hands in a 5-minute period surrounding the initial price drop, with nearly $690 million in volume trading across 15 minutes after the drop began across its XBT/USD perpetual swap contract market.

Bitcoin’s price has been on a tear across the last week, coming close to 18-month highs above $13,000 earlier in the day. The price was hovering at around $9,000 one week ago.

The ups and downs of the crypto market are not only unpredictable but also inevitable.

While on one hand, the entire crypto market is expanding its boundaries enormously, on the other hand, traditional financial institutions and their deep-rooted ordeals find it increasingly difficult to cop up with the cryptocurrencies.

Perhaps this is why some bold statement was made by the U.S. Treasury Secretary Steven Mnuchin while addressing a plenary session of the G7 initiative aimed at combating money laundering and terrorism financing.

At the event, Steven quite clearly stated that :

the G7’s Financial Action Task Force (FATF) organization will never let crypto assets “become the equivalent of secret numbered accounts.”

While speaking about it, Steven was actually indicating to all those secretive bank accounts where the identity of the account holder is kept secret. Not just this but in these financial bodies a client is only identified by a code word.

PRE-REQUISITES THAT CRYPTO EXCHANGES MUST ENSURE

Keeping in mind the history of crypto crimes as well as its weak pillars of security as well as privacy, Steven came up with some imperative regulations for the crypto exchanges which says:

The FATF will ensure that the cryptocurrency exchanges as well as any other crypto-related businesses to implement bank-like anti-money laundering and Combating the Financing of Terrorism procedures

MNUCHIN’s VISION

He firmly believes that these strict implementations of rules will undoubtedly minimize the potentiality of crypto firms to become enablers of unethical activities:

He says:
“By adopting the standards and guidelines agreed to this week, the FATF will make sure that virtual asset service providers do not operate in the dark shadows. This will enable the emerging FinTech sector to stay one step ahead of rogue regimes and sympathizers of illicit causes searching for avenues to raise and transfer funds without detection.”

Well, the crypto market just witnessed another incident that might have astonished each and every trader or analyst who doubted the potentiality of Bitcoin.

This is so because, yet again, Bitcoin is back with its 2019’s new high on June 21. Bitcoin has finally been able to hit the $9,800 zone and firmly beating daily returns of almost all major cryptocurrencies.

Needless to say that the incredible bullish move of Bitcoin, has once again surprised the investors after the BTC touched the $9000 mark this week.

As far as the 30-day gains for Bitcoin are concerned, it can clearly be seen that investors now stand at 26.5%.

As each and everyone in the market is aware of the predictions made about Bitcoin by some analysts a few months earlier, which said that as soon as Bitcoin crosses the $10,000 threshold, this would undoubtedly boost up the demand among prospective buyers, who would push the price further higher. They also mentioned that in a note to his clients of Fundstrat Global Advisors, Tom Lee who is a serial Bitcoin bull indicated that 2019 could see BTC/USD reached as high as $40,000.

He further tweeted on Thursday saying:
“In most markets, a ‘new high’ is needed to confirm a breakout[.] But with (bitcoin), when it trades at a price seen only 3% of its history, this has confirmed a new high imminent. This makes crypto different,”

Be yourself; Everyone else is already taken.

— Oscar Wilde.

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