Welcome to my crypto news report for the week of July 7th, 2017. The crypto market is red again today and struggling to tread water. There are some coins performing well though. In this report we will go over Dash being up, Litecoin being up, Kraken being sued, and a Wall Street strategist predicting $20,000 - $50,000 Bitcoin. Also, Spain's Bitnovo adding 4,000 outlet, and more.
Dash is up by 15% and has crossed the $200 mark earlier this week, but is currently at $198.95. Litecoin is up 23% and reached $55, and is currently at $46.85 at the time of this writing. Some other top performers today is Dubaicoin which is up 538% and ZrCoin which is up 346%. DigitalNote is also doing good, up 34.89%. Sibcoin was up by over 36%. Its break out was predicted by my friend here on Steemit, Denis Dobrochasov, @EntrepreneurX.
Kraken is facing a class action lawsuit by Silver Law Group, over the Ether crash in June 2017, in which almost a million USD was lost. Kraken says it will not make a habit of reimbursing the outcome of naturally occurring events in the market, nor losses due to unavoidable DDoS attacks.
Spain's Bitnova has added 4,000 outlets for Bitcoin cash purchasing. The previous number of merchants on the platform was 600, so its quite an impressive increase.
In other news today, a top Wall Street strategist sees Bitcoin worth up to $55,000. Bitcoin has more than doubled its value this year, but that's nothing compared to where Tom Lee said it is going. His model shows bitcoin could rise to a range of $20,000 to $55,000. This is due to among other things, gold mining increasing the supply of gold and Bitcoins reaching its inherent 21 million-coin-limit. This was the first report from a major Wall Street strategist on digital currency.
Here is a video where I break down this news using some new presentation software and then do some upgrades:
Link to Wall Street Article:
http://www.cnbc.com/2017/07/07/strategist-tom-lee-weighs-sees-bitcoin-going-as-high-as-55000.html
I hope you enjoyed my crypto news blog update for today. Have a good weekend!