Daily Crypto Brief for Friday, July 10, 2020.

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This is your ITB Media Daily Crypto Brief for Friday, July 10, 2020.

In Mainstream Financial News.

CNBC reports: Gold is the ‘real bitcoin’: Trader sees new highs ahead for the metal - https://cnb.cx/38GSKlz

Gold topped $1,800 on Wednesday, marking a nearly nine-year high.

Its rally may not be over yet, according to Boris Schlossberg, managing director of FX strategy at BK Asset Management. “I guess gold is the real bitcoin,” Schlossberg joked on CNBC’s “Trading Nation” on Wednesday. “Ultimately I think what’s happening is the market is taking implicit bets that inflation is starting to pick itself back up, and I think there’s a really good reason why the market thinks so.”


Bloomberg Headline: Move Over Bitcoin, There's An Alt-Coin Boom Going On (Radio) - https://bloom.bg/2W80GY9

Richard Rosenblum, Co-Founder and Co-Head of Trading at GSR, discusses digital asset trading and market making. Hosted by Paul Sweeney and Vonnie Quinn.

The Asia Times Reports: ‘Digital gold’: Bloomberg bullish on bitcoin - https://bit.ly/2ChCzix

Bloomberg states that bitcoin’s volatility will continue to decrease until the cryptocurrency is no longer a speculative asset. At the same time, the crypto will continue to outperform Ethereum (ETH), XRP, Litecoin (LTC) and other altcoins.

Wall Street Journal Headline: China’s Ride-Hailing Giant Didi to Test Beijing’s New Digital Currency - https://on.wsj.com/2O2abUi

BEIJING—Chinese ride-hailing giant Didi Chuxing Technology Co. said it is working with the People’s Bank of China to test the central bank’s fledgling digital currency on its transportation platform, advancing Beijing’s effort to digitize the yuan.

Forbes Headline: ‘Bitcoin Is In, Real Estate And Gold Are Out,’ Warns ‘Rich Dad, Poor Dad’ Author - https://bit.ly/324DfCA

Now, Rich Dad, Poor Dad author Robert Kiyosaki, who has previously praised bitcoin for its scarce properties, has warned "real estate and gold guys are being phased out"—and "the bitcoin world is coming into view right now."

In Social Media headlines.

Altcoin Daily: Bitcoin In Bull Market | Ethereum Flipping Bullish? Big Wins For Crypto Today! Cryptocurrency News.

The Moon (YouTube) reports: URGENT!!!!! BITCOIN IS FALLING RIGHT NOW!!!!! THE RISING WEDGE BROKE AS I PREDICTED!!!!

Data Dash (YouTube) posts a video titled: Bitcoin & Altcoins Pick Up Momentum. Key Ratios Signal Opportunities Across The Market.

On Crypto Zombie (YouTube): BITCOIN BREAKING KEY RESISTANCE NOW!!! START of NEXT MAJOR BULL RUN!!? DOGECOIN to $1?

In Crypto Publications headlines.

Cointelegraph reports: Accomplice in Alleged $722M Bitcoin Ponzi Scheme Pleads Guilty to Charges - https://bit.ly/3iQy5A8

One of four men charged with defrauding investors of more than $722 million through a long-running cryptocurrency mining scheme has pleaded guilty to charges against him. The man, a 35-year-old Romanian programmer called Silviu Catalin Bacali, was arrested in Germany in December 2019.

Coindesk.com headline: A Rare Glimpse Into How Crypto Is Really Used in Venezuela - https://bit.ly/2Opd1TD

The fintech startup AirTM distributed roughly $300,000 worth of cryptocurrency donations to 60,829 ID-verified Venezuelan e-wallets throughout 2019. The donated crypto came from entities like GiveCrypto, the Electric Coin Company and the artist Cryptograffiti. “To incentivize donations, the largest donor did receive a piece of the mural,” Cryptograffiti told CoinDesk, describing the crowdfunded mural project.

Cryptonews.com reports on its front page: Bitcoin-Focused Investors Missing Out on ‘Mini Altcoin Boom’ - Head Trader - https://bit.ly/3gLxE8x

Speaking with Bloomberg Radio, Richard Rosenblum, Co-founder and Co-head of trading at GSR, said that he believes there is a “mini altcoin boom” going on in the crypto market at the moment. In addition, he also said that many institutional investors are missing out on the boom simply because they are too focused on bitcoin.

“Even though on a broad scale, you could say the market believes more in bitcoin, and is not as focused on altcoins, if you take a smaller snapshot such as this week, bitcoin has rallied a few percent […] adding roughly 10 billion in market value, but if you take two other cryptos that are in the top 15, they’ve added over 20 billion of market value and rallied, in these three days alone, between 15% and 40%,” the trader said.

This has been your ITB Media Daily Crypto Brief for Friday, July 10, 2020.

This has been your ITB Media Daily Crypto Brief for Thursday, July 9, 2020.

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