Devendra's Podcast

The cryptocurrency aficionados’ mantra that Bitcoin is equivalent to digital gold is winning converts among the world’s biggest holders of precious metal. In India, where households own more than 25,000 tonnes of gold, investments in crypto grew from about $200 million to nearly $40 billion in the past year, according to Chainalysis. That’s despite outright hostility toward the asset class from the central bank and a proposed trading ban. 

Strategists flag near-term risks for Bitcoin price outlook 

Strategists are struggling to see a turnaround ahead for Bitcoin, at least for now, as the digital coin looks to consolidate above the $30,000 level. The near-term setup is “challenging,” a JPMorgan Chase & Co. team including Josh Younger and Veronica Mejia Bustamante wrote in a note Friday, while Fundstrat Global Advisors LLC’s David Grider recommended reducing risk or buying some protection.

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Elon Musk Is Leaving Doge Behind For A New Dog Coin?

Elon Musk appears to have abandoned the Dogecoin in favor of a gleaming new dog coin, the Shiba Inu coin. Shiba Inu is a type of dog. The dog used in the Dogecoin memes is a Shiba Inu in particular. Given Dogecoin’s popularity, the coin appears to have been designed to capitalize on that popularity.

MUSK CHOSE DOGE KILLER AGAINST DOGECOIN

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Grayscale Loads Up On Litecoin, Dumps BTC & Other Coins On Wednesday, Greyscale Capital added nearly 8,500 Litecoin to their crypto investment holdings. The investment firm has further spent the last week loading up on Litecoin. Within the last seven days, they purchased just over 15k Litecoin and in the past 30 days added an additional 15k to their holding.

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Bitcoin(BTC) price recovered above $33,000, but it failed to climb above $35,000 against the US Dollar. BTC is retreating from the 100 hourly SMA and it could extend its losses. Bitcoin started a decent recovery and it climbed above the $34,000 level. The price is now facing hurdles near $34,000 and the 100 hourly simple moving average.

Cryptocurrencies are becoming increasingly popular all the time. In reality, new investors seem to be searching for the best investments in Cryptocurrency, that they can invest in today. Maybe when you first heard of Cryptocurrencies, your first thought was how bad they are. However, as time goes on, more people seem to realize the value that they can add to their portfolios. When you think about it, the value that can be added to your portfolio through investing in Cryptocurrency is almost infinitely higher than investing in any other type of investment.

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The Reserve Bank of India (RBI) has been at odds with India’s crypto business for quite some time. The relationship between the two is best defined as adversarial. Because the Reserve Bank of India is concerned about India’s ability to absorb financial shocks, it has repeatedly pointed out the drawbacks of adopting cryptocurrencies.

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• Bitcoin price bounces to $33K but analysts say ‘it’s too early to call a bottom
• Brave takes aim at Google with privacy-protecting search engine beta
• The hedge fund that shorted GameStop closes as $1.13B GME stock offer completes
• Dogecoin Plummets After NASCAR Crash But Crypto Investors are Holding On With Memes
• Billionaire Novogratz still backs Bitcoin over gold
• Student Coin Terminal Will Let You Easily Create Your Own Token for Free

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Lolli is offering customers up to 14% back in bitcoin in their limited promo offer. A variety of retailers are available on Lolli for you to take advantage of the promo. Shop from over 1,000 merchants on the platform and get bitcoin back on every purchase. Lolli is a cashback/bitcoin rewards company. The platform works as a browser extension that you can add to your browser.

• Canadian Regulator Adds By bit to Crypto Exchange Crackdown
• Stablecoin inflows to exchanges dip as traders watch Bitcoin from the sidelines
• Classic bearish chart pattern forms for Bitcoin as BTC price tumbles to $32K
• Ethereum Transaction Fee Revenue at Lowest Level in a Year

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• Bitcoin price dips below $34K as a day of Grayscale's giant BTC unlocking draws near

• Downward volatility hits the market on Sunday, as market participants argue that most of the drop is already complete. Bitcoin (BTC) dropped to local lows of $33,750 on June 20 as fears over weak support levels proved to be well-founded. A comedown from resistance at near $40,000 continued to unfold, with low volumes highlighting little interest in protecting price action much above $30,000.

• ZoidPay brings crypto shopping to Amazon, eBay and 40M+ online retailers

• ZoidPay, a company focused on cryptocurrency mass adoption, is launching a platform where consumers can shop using their digital assets from any big retailer across the world, including Amazon, eBay and Alibaba. ZoidPay has begun building an entire ecosystem around the global shopping experience, complete with staking and decentralized finance mechanisms. 

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News Headlines

• Elon Musk Laughs at SHIBA INU (SHIB) Community As They Claim Nobody Will Use, DOGE
• Bitcoin Whales Started Selling as BTC Dipped to $37,000
• Venture Capital Makes a Record $17 Billion Bet on Crypto World
• 700,000 graphics cards were bought by crypto-miners in early 2021 alone
• Blockchain And Crypto Startups In India Attracted More Investment in 1H 2021 Than 2020
• Ledger Customers Are Being Mailed Fake Wallets to Steal Their Private Seeds
• Danske Bank Takes Position on Cryptocurrencies, Will Not Interfere With Crypto Trading
• Goldman Sachs Leverages Crypto Management Firm Galaxy Digital to Swap Bitcoin Futures
• Crypto-Powered Investing App SimpleFX Launches $50,000 “Euro 2021 Trading Cup”

Source: Crypto Labs | BuyUcoin

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Crypto News Digest

• Ethereum has since been gaining momentum, starting out at $1,000 at the beginning of the year and reaching an all-time high of $4,196.63, according to Coin Metrics. Before losing steam and dropping down to its current price at $2,400. Clocking an average growth rate of 197.4% in 2021.
• Goldman has flip-flopped again declaring crypto assets as unworthy of investment in the same week it expands its crypto trading desk.
• The decentralized finance protocol’s native token MIR jumps over 30% overnight as traders’ attention shifts to its protocol upgrade and Gemini listing.

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