Newsletter dated 22.7
Highlights
• Crypto market growth: Total crypto market capitalization reached 3.92 trillion USD, up 82 billion USD in the past 24 hours, mainly thanks to the strong recovery of altcoins.
• White House releases crypto policy report: The first full crypto policy report will be released on July 22, following an executive order by President Donald Trump to promote the U.S.'s leading role in the field of digital assets.
• UK sells confiscated Bitcoin: The UK plans to sell over 5 billion pounds (equivalent to 6.7 billion dollars) of Bitcoin confiscated from a Ponzi scheme in China in 2018.
• Bitcoin and altcoin volatility: Bitcoin is trading around 118,749 dollars, while altcoins like Conflux (CFX) surged 119% on July 21.
Analysis and Predictions
• Bitcoin price: Expected to continue trading within a narrow range from 117,000 to 120,000 dollars. If altcoins continue to show strength, BTC may test the support level of 115,000 dollars or rise to 122,000 dollars.
• Conflux (CFX) price: CFX may surpass the 0.24 dollar level and reach up to 0.26 dollars if the upward momentum is maintained and investor interest remains steady.
• Ethereum price: Expected to soon reach 4,000 USD, with some analyses predicting the ETH price will hit the 10,000 dollar mark.
Other news
• CoinDCX hacked: CoinDCX was hacked for 44 million USD as the CEO confirmed internal wallets were compromised.
• Bitcoin spot ETF funds: An additional 363 million USD recorded, bringing the consecutive inflow streak to 12 days