The tweet was a comment made in regards to a Forbes article where a major Tesla investor had predicted that Bitcoin would be worth more than $1 Trillion in 5 to10 years. 

The prediction was made by Yassine Elmandjra, an investment management Analyst in Ark, they are popular for predicting a price target for Tesla.

“Bitcoin offers one of the most compelling risk-reward profiles among assets, as our analysis suggests it should scale from roughly $200 billion today to $1-5 trillion network capitalization during the next five to ten years,” Ark Investment Management analyst, Yassine Elmandjra, wrote in a report out last month, adding that investors shouldn’t ignore bitcoin as an asset class.

“Our analysis suggests bitcoin is early on its path to monetization, with substantial appreciation potential,” Elmandjra wrote. “In our view, bitcoin’s $200 billion market capitalization—or network value—will scale more than an order of magnitude to the trillions during the next decade.”

Best Performing Asset.

Bitcoin has maintained it’s post as the best performing in the last decade, irrespective of the fact that it did pump to over $20,000 and is currently sitting at $10,898. It is interesting to still see individuals and investment Analysis firms to still maintain their Bullish view on Bitcoin.

In this article and video, I discuss the top 10 crypto altcoins in July 2020.

Bullish Altcoins List

Cardano (ADA) Shelley Mainnet Launch

The altcoin I’m most bullish on is Cardano due to their much anticipated mainnet finally launching. This hardfork will introduce staking and smart contracts to the project, among other features.

Cardano recently announced a partnership with Coinbase to allow users to stake ADA from cold storage with Coinbase custody. We should be seeing many other partnerships coming for staking also.

SparkPoint (SRK) New Roadmap and Staking

My second most bullish altcoin for July is SparkPoint SRK token. This project is only a little over a year old and is a micro cap altcoin with a market cap of only $1.8 million.

This project has developed 5 apps within their first year and just announced they are hiring 3 more developers to double their product production. They also are releasing a new long term roadmap on July 27th that will show the future plans for the project.

With SRK being only $1.8m market cap, to get a 100x return on investment would only require a market cap of $180 million. Many projects with less to show have a much higher market cap for this, so I believe there is huge potential for SRK.

Some other notable features of SparkPoint SRK:

• Monthly roadmaps and consistent growth
• Powerful Token Ecosystem
• LOW market cap
• Already generating revenue
• Creating popular products (Mobile games, Delivery app, Learning platform)
• Deflationary token supply

Altcoin Season Is Here

There is lots of bullish data showing that the next big altcoin season is here. We have already seen many projects do over 500% returns recently and Bitcoin dominance is also dropping.

I believe the cryptocurrency space has finally entered a bullish market and will be seeing the crypto global market cap pass $1 trillion for the first time by the end of 2021 or sooner.

This action has given Dogecoin over 40% rise in 24 hours and has given a 2000% increase in trading volume in 48 Hours. As at the time of writing Dogecoin is trading at $0.004555 with a 63% Rise in Price according to Coinmarketcap.

Stay Safe, Invest Smart

Since this incident, a lot of traders have been giving out warnings to potential investors who might get rekt if they choose to FOMO in. Dogecoin has also warned investors to be careful. 

Be mindful of the intentions people have when they direct you to buy things. None of them are in the spot to be financially advising.Make choices right for you, do not ride other peoples FOMO or manipulation. Stay safe. Be smart. 

Watch our video on Dogecoin 100% pump

How it was done

First, the hacker got a flash loan of ETH worth $23 million from dYdX, then converted it to WETH and then started swapping the WETH to STA, they swapped back and forth for complete 24 times. Each trade conducted was charged 1%, this allowed them to drain the STA balance to (copy paste the figure). After that, he swapped it for other assets in the pool very cheaply.

The attacker got hold of a total of $452,000; they got access to 601.3 ETH ($134.8k), 11.36 WBTC ($103.5k), 22,593 LINK ($102.8k) and 60,915 SNX ($110.9k).

Balancer in an official statement said developers were not aware of the possibility of hacking through this means,

This is explicitly why STA was not included in the BAL mining whitelist that was recently put together,” the official Medium post. “The system is designed for compliant ERC20’s and when tokens behave unintended ways, bad things can happen. Balancer is a permission-less protocol and broken or malicious tokens will always be able to be added at the contract level.”

DEX aggregator 1inch stated in their write-up that the attacker was “very sophisticated smart contract engineer with extensive knowledge and understanding of the leading DeFi protocols”

Defi taking the Heat

Defi has grown recently and has accumulated $1.63 billion locked-in value in different platforms. bZx and dForce, two leading DeFi platforms, witnessed hacks earlier this year, bZx was drained of $1 million while $25 million was stolen from dForce platform and later returned. These hacks amongst others tend to show vulnerability in the Defi Platforms.  

Paul Tudor Jones, an institutional investor had earlier indicated he’s interest in Bitcoin and even claimed to have 2% of his portfolio in Bitcoin. He encouraged other institutional investors to do the same stating that he recognizes Bitcoin “potential in a period when we have the most unorthodox economic policies in modern history.”

From time immemorial, institutional investors have only invested a small portion of their capital into cryptocurrency, this could be because of regulatory uncertainty or concerns over hacking and fraud amongst other things. 

Ryan Watkins gives he’s analysis. 

THIS IS HUGE

Everything Cardano has been building for the past few years is finally coming to a reality and people will finally be able to stake their ADA for a nice passive income.

Lately, many projects have been seeing massive price gains leading up to their mainnet launch. Cardano having 2 months before the mainnet launch, we can likely see a massive price surge sometime in July. Although, if things are delayed and don’t go as the roadmap states, then it could do just the opposite.

Regardless, everyone is becoming aware of Cardano and there has been a huge incline in daily volume for ADA. If this volume incline continues, we could be close to the biggest gains ADA has had in years.

Coinbase Listing ADA

Not only does Cadano have their Mainnet launch, but also a Coinbase listing on the horizon. Over 2 years ago Coinbase announced their interest for listing ADA, but to this day, they still haven’t.

This leads me to believe that Coinbase is just waiting for the Shelley Mainnet to go live so they can have a better launch week and possibly offer their users staking of ADA within the platform.

A Coinbase listing for ADA might just be the cherry on top that blows the lid off this project.

Demand Sky Rocketing, ADA Supply Dwindling

With news of the Shelley Mainnet and staking on the horizon, many people are stocking up on ADA in anticipation of a huge price surge.

As more and more ADA is bought and taken out of circulation, the supply is constantly shrinking at the same time that demand continues to rise. This scenario makes for the perfect storm.

ADA Price Predictions

With everything finally coming together at the same time as offering staking and getting a Coinbase listing could set this project to new all time high prices. Anything is possible and we’re headed into new territory in the crypto space.

Watch the video below for further price discussion

This is not investment advice. Always do your own research and make your own financial decisions. This article and videos are for entertainment purposes only.

The amount of ETH one should own will depend solely on that person’s personal preference and whether or not they plan to stake ETH.

32 ETH Minimum for Staking

To stake ETH, you will be required to maintain a minimum of 32 ETH to run a validator. Staking Ethereum is said to yield rewards of anywhere from 4.5% to 10.5% and these figures will vary depending on the total amount of ETH you’re staking. The more ETH you stake, the smaller the percent reward gets.

This is to level the playing field and allow those with smaller staking balances to yield a worthwhile reward.

Passive Income Earnings

How much ETH you should hold will highly depend on how much passive income you want to earn from staking. Using an ethereum staking calculator, you can determine the average earnings from how much you wish to stake.

If you stake 1000 ETH, you can expect to earn around 80 ETH for the 1st year. While that is less than $20k right now, by the time you receive those rewards, ETH can be much more valuable.

Watch this video to learn more about how much Ethereum you should hold and future ETH price predictions

High Demand, Low Supply

With Ethereum staking launching soon, demand is steadily increasing to own the minimum 32 ETH that’s required to run a validator. Many people are also increasing their ETH holding stacks in order to earn more passive income once staking is live.

Recently Paul Tudor Jones announced that he has invested in Crypto as a hedge against inflation. This may soon result in a surge of demand for Ethereum and other cryptocurrencies.

The surge in demand of new investors at the same time as Ethereum is launching staking can result in a bull run unlike anything we have seen.

I believe Ethereum will be the best performing digital asset for the next year.

You gotta ask yourself…Why are earth would CZ pay $400m for Coin Market Cap? 🤔😳 — Crypto Traders Pro

A lot of people might have asked this question, for some they feel they have the answer while others are curious. Maybe the answers are provided with the recent steps taken by Coin market Cap.

After a while of acquiring CMC, CZ tweeted out.

He was obviously asking for feedback from the community on what to do next or what they would like to see improved on CMC. Among other answers were the request to fight out wash trading and hunt exchanges with inflated volumes so as to look big.

In a bid to fight off inflating volumes ( wash trading ) reported by different exchanges. CZ tweeted out with an enclosed link to the ranking of the exchanges on CMC showing the new ranking protocol.

Exchanges are now ranked based on their web traffic and on a scoreboard of 0-1000. What this means is that Exchanges will no longer be ranked based on their trading volume but rather on the number of visits and activities conducted within the website.

With the new ranking protocol we find Binance topping the list with a 1000 points , followed by Coinbase pro and Bitmex exchanges respectively. This action and ranking has left some individuals wondering if truly Binance has 100% of human activity and no inflating of trading volumes and if this ranking protocol was chosen by them since they know that they get a lot of visitors over time.

This might hit as a surprise since Binance based on the previous ranking was always found between top 10 and Decrypt reported it to be on the 15th at some point after acquisition of CMC.

This is what Chan Chief Strategy Officer and current acting CEO of CMC said regarding the web factor ranking protocol last year before acquisition.

“We’ve seen other people do things like you’ve said, web traffic as a way [to verify exchanges are legitimate] but people trade using API keys so that’s why web traffic is not a good indicator.”

“We still do not believe that web traffic is the be-all and end-all metric. To repeat ourselves, as per our blog post, web traffic is one of the many factors that we are iterating on to provide a better adjusted volume metric for our end users.” — Chan

While some individuals are happy over this development, some have questioned it. Among this is the founder of Quantum Economics Mati Greenspan.

Here is what he had to say. 

We have got a lot of users too who are not pleased and have stated that they had expected  this to happen or had switched over since to other ranking platforms.

There is no doubt that Binance will use CMC to promote their own exchange and products, but how far will they go and will it still remain the highest traffic crypto website online?

Not long after this, most of the Crypto Twitter community had already chimed in and given their best shot to explain Bitcoin in as simplest terms as possible.

Bitcoin Twitter Response

Elon Musk Responds

Not long after, Elon Musk responding with a tweet that actually made a lot of sense and was bullish for Bitcoin in general.

Drunk Rowling

Unfortunately, Rowling already had 4 strong drinks in her system by the time she got all of these responses from Crypto Twitter attempting to explain what Bitcoin is.

I’m only allowing myself alcohol at weekends during this lockdown and I’m on my fourth very strong Old Fashioned and honestly, you might as well send me a scroll written in Sanskrit. – J.K. Rowling

Ethereum Founder Vitalik Buterin’s Response

One of the best responses I saw was from Vitalik Butern pointing out exactly why Bitcoin is so valuable. With ETH2 Staking launching soon, Ethereum will have a huge surge of demand during all the retail investors getting in.

Fear of Inflation

Lately many people have been discussing the impending inflation that is coming due to the feds printing trillions of dollars for stimulus packages and to prop up the economy during the pandemic. This has stemmed fear into many people that their savings will soon lose much of its purchasing power and as a result, people are considering Bitcoin and other Cryptocurrencies for the first time.

Recently Paul Tudor Jones announced he holds 1% of his wealth in Bitcoin as a hedge against inflation. Around this time Bitcoin also had it’s 3rd halving event, reducing the total number of Bitcoin created per day.

This means supply is decreasing, while demand is increasing and could cause a huge price spike in Bitcoin and other cryptocurrencies.

Conclusion

We are seeing more people take interest to Bitcoin lately than ever before and I believe this will result in a new retail demand for Crypto unlike anything we have seen before.

Bitcoin was created in 2008 during the last recession for this exact purpose. Will we finally see Bitcoin, Ethereum and other crypto’s finally get the lime light and pass the 1 trillion dollar global market cap for the first time?

I’d like to start with the fact that anyone who hasn’t heard of Digibyte might not actually be into crypto full time. Over the years we’ve seen the community support this project with all its got. It is indeed one of the most loved and supported projects out there. This shouldn’t come as a shock to you if you have really done good research on them. On their site we are told it is a volunteer based and global community driven project.

Digibyte is an open source blockchain created in early 2013 and released in 2014. Digibyte also claims to have become one of the most safest, fastest, longest decentralized unspent transaction Output (UTXO) blockchain in existence. To understand what and how a UTXO works, click here. Click here to understand how it works on BTC too.

DIGIBYTE TOKONOMICS

Ticker – DGB

Total supply – 21B

Circulating supply – 13B

Transaction speed/ time – 15secs

RECENT PRICE MOVEMENT 

The price of DGB has seen some positive movements recently. It’s hard to see such movements in the Crypto space without a high profile news or release in the crypto space. Some wonder what could have helped make this coin move up in price too. Well, when asked Josiah an admin in the DGB community gave an Honest reply as to what he feels must have helped the price move in this manner, below is his answer to it.

From Josiah’s answer, we could see what he believes has helped the price to make this uptrend movements. He says DGB is basically BTC with another name and that DGB is  more secure, faster, and better than BTC. So here is some similarities between DGB and BTC and then you choose which is better.

SIMILARITIES BETWEEN DBG AND BTC

1) Proof of work – Bitcoin is proof of Work or rather POW and can be mined, same case with DGB. You can check out the official site for Digibyte to know how the mining works and what tools are available.

2) Halving – This is for sure one of the interesting part of BTC. Halving is the process of dividing or cutting out 50% of the total rewards a miner can get for mining or generating blocks. It occurs every 4 years when the block generated on the blockchain hits 210,000 blocks ( 840,000 blocks for LTC). DGB has its halving every month at approximately 175,200 blocks, 1.12% of coins minted are reduced. Here is a fraction of the code explaining it.https://github.com/digibyte/digibyte/blob/master/src/validation.cpp#L1202

3) Transaction Speed/Time – For any crypto to gain mass adoption and hopefully be used in a day to day activity then speed and convenience must be a core factor. DGB transactions are confirmed at approximately 15sec which is way faster than BTC where transactions sometimes ranges from minutes to hours depending on the network as at the time of transacting. This for a fact shows that DGB is 40 times faster than BTC.

4) Exchange Listings – Every exchange today has BTC as a default pair, no one has to pay to list BTC. It is interesting to know that DGB might have this same favor too to an extent. An article released by CCN in 2019 stated that DGB was listed on 80 exchanges without fees.

Rudy Bouwman, the Secretary and Vice chairman of DGB Foundation Confirmed this even adding that it was over 100 exchanges that DGB was listed without fees. How this happened is not known but it’s great to see such developments in the crypto sphere and the fact that some of these exchanges are those with high demanding fees is something to marvel at.

5) Community support –  Its a known fact that BTC has a lot of strong supporters even going as far as top influential individuals and leaders in the crypto space such as CZ the CEO of Binance Exchange and the Bitcoin Maximalist Pomp. DGB too has seen some strong support from the community of investors and well wishers it has, they’ve been cases where it was delisted and the community voiced out, they have helped win popular twitter polls and other crypto engagement, there is hardly a tweet asking for what to invest where you wont see a user comment $DGB.

You can find more features about this project on their official Site. With the above we couldn’t agree less with Josiah’s words when he described DBG to be more forward thinking and advanced.

As at time of writing DGB is trading at $0.023 on CMC