😟 Is The Bitcoin Rally A Bull Trap?

Why a prominent analyst expects this market to bust in September.

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Happy Thursday!

Bitcoin is back above $80,000, but that may just be a bull trap before an eventual bear market in September, says a vocal crypto analyst.

Stablecoins will become for payments what WhatsApp became for messaging, according to a prominent crypto venture capitalist. Here’s why.

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TOP STORY

Bitcoin’s breakout above $80,000 caught traders by surprise, but not everyone is convinced the move is sustainable.

Prominent analyst Capo of Crypto warned that despite short-term upside, the macro picture points to serious trouble ahead.

He provided forecasts for four different scenarios, from very short term to several years out.

What does the analyst expect?

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QUICK N DIRTY

Bitcoin could go to $250,000, according to Cardano co-founder Charles Hoskinson — here’s why.

Arthur Hayes has turned $0 into $500 million in six years and recently correctly predicted Bitcoin’s dip to $75,000 — how did he do that?

Bitcoin may go back into bull market mode if it breaks the $92,000 threshold, according to on-chain analytics firm Glassnode.

FINTECH FOCUS

Chris Dixon, managing partner at venture firm a16z crypto, says blockchain-based stablecoins are transforming the global payments landscape in the same way WhatsApp upended costly international phone calls.

“The internet made information free and global. So why is it still so hard — and expensive — to move money?” Dixon asks.

He points out that a $200 international remittance still costs an average of 6.62% in fees, which he calls a regressive tax on the world’s poorest workers.

Will stablecoins become the WhatsApp of payments?

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