Bitcoin may rise in price to $100 thousand by early 2022

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Weekly Market Summary

The Hacker who attacked Poly Network reported he is ready to return the stolen funds. Surprisingly he kept his word and began to return funds.

The attacker claimed that he could have stolen a billion in Shitcoins but was not interested in the money so strongly.

“I NEED A SECURED MULTISIG WALLET FROM YOU. IT’S ALREADY A LEGEND TO WIN SO MUCH FORTUNE. IT WILL BE AN ETERNAL LEGEND TO SAVE THE WORLD. I MADE THE DECISION, NO MORE DAO”. – wrote the Hacker.

Recall that Hacking Poly Network was the largest hacker attack in terms of the amount of damage at the time of the theft

The chairman of the Securities and Exchange Commission has told Senator Warren that the regulator needs more authority to regulate the crypto industry.

Gary Gensler, Chairman of the Securities and Exchange Commission (SEC), has written a letter to Senator Elizabeth Warren claiming that cryptocurrency investors are “inadequately safeguarded.”

“In my view, the legislative priority should center on crypto trading, lending, and [decentralized finance] platforms. Regulators would benefit from additional plenary authority to write rules for and attach guardrails to crypto trading and lending,” Gensler wrote.

Quick weekly news:

• AMC Theatres to Accept Bitcoin as Payment
• Stablecoin Maker Circle Seeks National Bank Charter
• Ethereum supply flips briefly into deflation as gas fees spike
• Bitcoin Avoids Bear Market

Other notable events include:

– Bitcoin may rise in price to $100 thousand
– Ethereum could pave way for $100,000 Bitcoin

Bitcoin may rise in price to $ 100 thousand

Bloomberg strategist Mike McGlon is known for predicting last summer that Bitcoin will again reach $ 20,000 in December 2020. This time he decided to raise rates and announced that BTC would reach $100,000 by early 2022.

“Bitcoin seems to have found support around the $30,000 mark, just as it did at $4,000 in early 2019. We see parallels with the same events and, apparently, Bitcoin may well reach $100,000,” McGlone explained.

He added that in the second half of 2021, we will see BTC achieve much more impressive results and more efficient profitability than ETH.

Ethereum could pave way for $100,000 Bitcoin

In terms of year-to-date market performance, Ether (ETH) has outperformed Bitcoin (BTC) increasing more than 320% vs BTC’s 54%. According to Bloomberg Intelligence senior commodity strategist Mike McGlone, Bitcoin may soon catch up to Ether’s gains, which might even push its per-unit price to $100,000.

On Aug. 9 the analyst tweeted as follows: “If Bitcoin were to catch up to Ethereum’s performance this year, the No. 1 crypto’s price would approach $100,000.”

It should be noticed that Bitcoin’s market dominance has plummeted after topping out at around 73% in December 2020, despite its adoption prospects on Wall Street. It now stands at 47.17 %, indicating that traders have shifted around their investments to other digital assets.

In particular, Ether has become the biggest benefactor of Bitcoin’s declining dominance index. Its market share in cryptocurrency has risen from 10.06% in December 2020 to 20.05% at the time of writing.

• Spot trading: This week Bitcoin (BTC) and Ethereum (ETH) have swapped places, and now Ethereum (ETH) is in first place. Solana (SOL) and Polkadot (DOT) were pushed to third and fourth places, respectively, by top dogs.
• Derivatives: Bitcoin (BTC) and Axie Infinity (AXS) have become the most traded currencies. Ethereum (ETH) is following these together with Chainlink (LINK) and Cosmos (ATOM).

New Listings on CoinbasePro:

• Orion_Protocol (ORN/USD ORN/USDT ORN/BTC)
• TerraUSD (UST/USD UST/EUR UST/USDT)
• IoTeX (IOTX/BTC IOTX/USD IOTX/USD IOTX/USDT IOTX/EUR)
• TRIBE (TRIBE/USD)
• QuickSwap (QUICK/USD)

New Listings on Binance:

• Alpaca Finance (ALPACA/USDT ALPACA/BUSD ALPACA/BNB ALPACA/BTC)
• Harvest Finance (FARM/USDT FARM/BUSD FARM/BNB FARM/BTC)
• Raydium (RAY/BNB RAY/USDT RAY/BUSD)
• Mina (MINA/USDT MINA/BUSD MINA/BNB MINA/BTC)

New Listings on Kraken

• Injective Protocol (INJ/USD INJ/EUR)
• MIR COIN (MIR/USD MIR/EUR)
• Band Protocol (BAND/EUR BAND/USD)
• 1inch (1INCH/USD 1INCH/EUR)

New Pairs on Kucoin:

• TribeOne (HAKA/USDT)
• Chia Network (XCH/USDT)
• Ergo (ERG/USDT ERG/BTC)

By the way, our PRO plan includes new Exchange Listing alerts for all 27 exchanges in our app. Become a PRO and receive an instant notification when a new coin is listed on Coinbase Pro, Binance, or an exchange of your choice!

The Graph is an indexing protocol for querying data for networks such as Ethereum and IPFS, powering applications both DeFi and the broader Web3 ecosystem. Anyone may create and publish open APIs, known as subgraphs, that apps can use to access blockchain data using GraphQL.

There is a hosted service in production that makes it easy for developers to get started building on The Graph and the decentralized network will be launching later this year. The Graph currently supports indexing data from Ethereum, IPFS, and POA, with more networks coming soon.

The Graph is striving to bring reliable decentralized public infrastructure to the mainstream market. Participants utilize Graph Token to secure the economic security of The Graph Network as well as the integrity of data being queried.

Recent announcements:

Users of The Graph can now earn money curating blockchain data
The Graph’s 2.5 Million Bug Bounty Program In Partnership With Immunefi

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We have prepared top-performing coins of Aug 12 for you.

IoTeX has managed to become the best performing asset among TOP-100, gaining 27.92% within the last 24 hours.

Ravencoin was the worst-performing asset among TOP-100 (again), losing 10.11% within the last 24 hours

To get up-to-date reports on gainers and losers during the week, follow us on Twitter.

Top cryptomeme of the week

Let The Whole World Wait 😌

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