Crypto Market Weekly Update — July 22

The increasingly high volatility that has characterized Bitcoin and the rest of the crypto markets gradually settled at the weekend.

At the time of writing this crypto market weekly update, most of the top cryptocurrencies are consolidating their positions at different levels.

They also look poised for a major move either in the right or wrong way for traders and investors, while we hold our breath as crypto has taught us.

Which Big News Did You Miss?

Donald Trump Tweets Bitcoin; Asks Facebook to Become A Bank. We had a notable number of top U.S officials talk about Bitcoin last week, but it all began with the number one citizen, Donald Trump who said he wasn’t a ‘fan’ of the cryptocurrency. Read the full story here.

France to Approve Crypto-related Companies Under New Regulation. France has swiftly moved to provide regulation for the crypto industry and is set to welcome the first cohorts of newly licensed firms at the end of the month. Read the full story here.

Facebook’s Libra Survives Day 1 Scrutiny by U.S Senators. David Marcus appeared calm and knowledgeable of Facebook’s past failings while testing before U.S Senators early last week regarding their planned Libra currency. Read the full story here.

Viral FaceApp is Pro-Bitcoin; No $1 Bill! Do you the viral mobile app, FaceApp, it’s ridiculous what becomes of the $1 bill when you pass it through the 20-40 year test. Read the full story here

Japan to Create International Network for Crypto Payments. Japan is planning to end crypto money laundering once and for all by inventing a global crypto payments network. Read the full story here.

Best Opinion Pieces

Emi Lacapra – What’s Going on With Ethereum? Is Ether Set For an Imminent Failure or Is it Just FUD? Sorry Ethereum. The future is looking bleak for the project but not without hope no doubt. Which way next? Read the full article here.

Wilfred Michael – Bitcoin Vs. Dollar: Which is Laundered More? With Bitcoin critics notably arguing that the cryptocurrency is mainly used by bad actors, we found statistics that prove otherwise. Read the full article here.

Top Three Coin Overview

Biggest Market Gainers and Losers

gainers and losers

What to Expect This Week

Intercontinental Exchange (ICE) backed crypto derivatives startup, Bakkt is expected to begin user testing and trading today, a development that is likely to affect the market positively.

This is not to say that Bakkt would be buying more Bitcoins with the company already revealing that they filled their bags during the cheap Bitcoin market at the end of last year.

However, the fact that the startup is set to serve institutional investors makes it a viable project to keep an eye on.

Meanwhile, the Facebook Libra vs Congress would likely continue with lawmakers poised to release more questions for David Marcus to attend to by July 23.

Keep an eye on these developments while you plan your crypto moves this week.

Happy Trading/Investing!

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