The Raven’s Dispatch – The Week in Cryptocurrency – June 7, 2018

The Raven's Dispatch


June 7, 2018

The only good thing to come out of Bitcoin is this cat

We kid, we kid. Everyone needs some lighthearted fair after a tumultuous 2018. Up and down, sideways, crashes, rallies, etc. This market is a roller coaster. And nothing represents that more than the bitcoin rollercoaster guy gif. Most accurate gif ever? Possibly. After last weeks weekly candle closed in green the hopes and dreams of the bulls were finally in view again. While we haven’t “mooned” we are seeing shorter downtrend periods and starting to see higher lows. All signs that the downtrend is losing steam.

The top 5 in terms of marketcap remains unchanged and all showing signs of life. The overall cryptocurrency market in the past inched upwards moving from $332bln to $346bln representing a 4% increase in the past seven days. Our second weekly close higher in two weeks. That sound you just heard? The collective sigh of relief from the bulls.

The Bitcoin roller coaster is evident in the image below, but the other top 4 coins show some nice upward trends. Altcoins followed Bitcoins increase in price but in a much smoother manner. We are still not out of the woods.


Bitcoin:  BTC grew at 5.7% to $7,695 in the past week as of this post. Still waiting for that trend reversal, but higher lows are a good sign since the March low of $5,873. Still on that Ramen diet for the time being.

Ethereum: Ethereum continues to show signs of live with an 11% increase over the past week settling at $609 as of this post.

Decentraland (MANA): Described as an “open-source initiative to build an open world”, Decentraland is an interesting project that is sure to delight Minecraft fans as much as it horrifies technophobes.

In Decentraland, you can buy and develop parcels of virtual land. Using the MANA token, you can literally buy real estate, of which there is a finite amount, and create buildings and other infrastructure for you and other players to explore in virtual reality.

Since being listed on Binance in November 2017 MANA has been on a strong uptrend opening at $0.011 and currently sitting at $0.10 representing a in a 722% increase. The ICO for MANA took place in august of last year and with an issue price of $ 0.024. Barry Silbert, a major player in the crypto space and owner of Digital Currency Group, has a stake in Brave, the online payment system – and Brave is a partner of Decentraland. So it has good backing. For more details you can check out our “What is Decentraland” article.

What’s new at Crypto is Coming

Ripple Successfully Trialled By UK Forex Exchange – More positive news from the Ripple team. Love it or hate it Ripple continues to make moves.

Is Roger ver a positive crypto evangelist? – Say what you will about Roger Ver, and there has been a lot said, there is no question he is one of the most controversial figures in the crypto-space. Check out our analysis on why he is so controversial.

TOP 10 ICOs of 2018 (Infographic) – Initial Coin Offerings are big business and a new and innovative way to raise capital for blockchain projects. They also offer CRAZY returns. In some cases 100x. Check out this great infographic of the top returning ICOs of 2018.

What are crypto hedge funds investing in? – Where are the crypto hedge funds investing? Another fantastic infographic form the ICO Analytics crew showing where that money is going. Follow them on Twitter.

Crypto Promoter And ICO Shiller, John McAfee To Run For President In 2020 – That’s right that crazy, crazy bastard we all love (or hate) is throwing his hat into the 2020 Presidential ring. I mean if Trump could do it, why not McAfee? He’s got my vote!

Drain the Swap: Lessons on Loving the Atomic Swap – We all know cryptocurrencies in general have scaling problems, but Bitcoins scaling problems are legendary. That’s what atomic swaps are for. Check out this guide to understand what Atomic Swaps are and how the lightning network could revolutionize Bitcoin and crypto in general.

Peter Thiel’s thoughts on tech (via @eriktorenberg) – Peter Thiel is a legendary venture capital investor, we should prolly listen to him. Interesting twitter thread from @eriktorenberg summarizing Peter Thiel’s worldview.

Cryptocurrency news from around the internet

Buy bitcoin now while it’s still cheap, says cryptocurrency hedge-fund owner – Cryptocurrencies are cheap right now, says Dan Morehead, founder of Pantera Capital Management. So it’s a good time to buy. We can’t say it enough on this site: #BTFD (Buy the fucking dip)

Japan’s FSA Bans Private Cryptocurrencies – The country known as the most influential proponent of virtual currencies is pulling the plug on some of them – particularly those which operate in a highly anonymous manner and offer rich privacy features.

The only good thing to combe out of Bitcoin is this cat – Sometimes it seems the blockchain industry can be too serious. Enjoy this lighthearted post about a chill ass crypto cat.

Bitcoin traders rejoice! Bittrex launches USD fiat pairs – As the world starts to, slowly, adopt crypto certain brave banks are getting on board to offer exchanges accounts for fiat deposits. Great news!

The mathcoins: decentralised cryptocurrency, without the blockchain? –  Can we get the tantalising promises of cryptocurrency — decentralised, censorship-resistant, fast, cheap, secure — without the headaches? This is a great article from David Gerard, read it.

When Crypto Meets Conceptual Art, Things Get Weird – Seriously what won’t artists do to feed themselves? Kevin Abosch is turning the technology behind cryptocurrencies into art, stamping blockchain addresses in his own blood and selling a virtual neon Lamborghini.

Man dies on Mount Everest during ASKfm cryptocurrency promotional stunt – A sherpa, who prolly didn’t know a thing about crypto, lost his life helping some douche bags with a stunt designed to draw attention to a cryptocurrency Initial Coin Offering. Douche bags and douche bah ICO.

Fidelity is plotting a BIG move in cryptocurrency trading – Paywalled but still amazing news. The institutions are getting in. You should be doing the same.

Coinbase Unveils Plans to Enter the Japanese Market –  Japan loves their crypto, it makes perfect sense for Coinbase to set up shop in the land of The Land of the Rising Sun

That’s hiragana for ‘Welcome” (That’s right I speak and read entry level Japanese, suckas)

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