I'm going with it - CoinMarketCap Blog

Your daily newsletter for July 17, 2019

Flow

"Life is a series of natural and spontaneous changes. Don't resist them - that only creates sorrow. Let reality be reality. Let things flow naturally forward in whatever way they like."

- Lao Tzu

Happy midweek! Time for some tantalizing crypto news to start off your morning! 😋

Today in history (1987), the stock market index comprised of 30 large, publicly owned U.S.-based companies, also known as the Dow Jones, closed above 2,500 (2,510.04) for 1st time. The Dow Jones currently stands at 27,335 (17 July 2019). 🤯

In today's newsletter, we will be covering Bitcoin Suisse applying for banking and securities dealer licenses, Grayscale Investments recording an all-time assets under management (AUM) in Q2 and Acumen Research and Consulting (ARC) predicting the volume of global blockchain in the healthcare market to hit more than $1.7 billion by 2026.

Please do not forget to answer the polls down below too! It's a great way to interact with you and hear what you have to say. 💭 Happy reading! 📚

Just a bump in the road 😔

Ouch! Total market capitalization has once again been pushed back from ~$288.5 billion to ~$257.2 billion, with most coins seeing double digit (%) losses. The crypto market has been pushed back to early August 2018 levels, and have retraced ~29% over 2019's yearly time highs in late June. 📉

BTC is back below the $10,000 mark, and is trading at ~$9,520, down ~11.6% for the day. On the daily chart, BTC closed below its 100-day EMA line, and is currently below its lower Bollinger Band (<2 standard deviations from its SMA line) with an RSI of ~41. On the weekly chart, its MACD line is heading towards crossing to the downside of the signal line, so we could see most downward action in the coming weeks. BTC dominance is also at a new year high of 66% - boy has this been a brutal year for the alts. 😔

Seeking approval 🙏🏻

Regulated Swiss crypto financial broker Bitcoin Suisse has applied for banking and securities dealer licenses from Switzerland’s finance regulator, the Swiss Financial Markets Supervision Authority.

According to Bitcoin Suisse, the licenses will allow it "to further expand its offering with regulated services and products, thereby strengthening its position as a leading provider of crypto financial services." 💪

The company also revealed that it has already deposited 45 million Swiss francs (~$45.7 million) with a local institution “as collateral for a default bank guarantee, securing client fiat deposits and pooled crypto deposits”, in preparation for the licenses. It intends to soon bring that figure up to 55 million francs (~$55.8 million). 💰

Growth 🤑

According to a Q2 2019 Digital Asset Investment Report, digital asset management fund Grayscale Investments recording an all-time assets under management (AUM) of $2.7 billion, marking a near tripling of its AUM from Q1. 😲

According to the report, Grayscale's total received investments into its single-asset and diversified investment products in Q2 2019 amounted to $84.8 million, double the amount the company saw in Q1. Grayscale noted that new investments were among major drivers of the recent surge of cryptocurrencies’ prices.

Institutional investors represented 84% of the total demand for Grayscale products, alternative investments in Q2 also accounted for 24% of inflows compared to the 1% seen in Q1. 70% of investments came from investors converting tokens they already held into shares of Grayscale products. Overall, Q2 is the first positive quarterly performance for all 10 of Grayscale’s investment vehicles.

A burgeoning industry 😋

According to consulting and information technologies firm Acumen Research and Consulting (ARC), the volume of global blockchain in the healthcare market is estimated to hit more than $1.7 billion by 2026, with a compound annual growth rate of 48.1%. 📈

America is projected to dominate with the largest share in the global blockchain in healthcare market, as it is a mature market that can host the greater adoption of smart technology in manufacturing and healthcare.

Europe is projected to hold the second largest market share due to strong government support, increasing expenditure on technology and the presence of multinational companies. However, ARC believes that the "lack of security is [will be] the major factor restraining the growth of the blockchain in healthcare market in Europe."

ARC believes that Asia Pacific will be the region with the fastest growth rate in terms of blockchain deployment in healthcare due to its fast growing economy and associated opportunities. ⚡

Blockchain term of the day 🤓 - Block reward

An incentive for a miner who successfully calculates a valid hash in a block during mining. By contributing to the security and liveness of the chain, the miner is rewarded with this incentive, ensuring that miners continue to act in the best interest of the blockchain by legitimately taking part in the process (instead of hacking it).

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Quick, join the waitlist now! Can't wait to see ya! 😀

Special announcement 📢 - CoinMarketCap merch giveaway

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Other news 📰

The Council of the City of Richmond Hill in the Greater Toronto Area of Canada has recently voted in favor of securing an agreement with Canadian crypto solutions provider Coinberry to support Bitcoin (BTC) property tax payments for residents and firms in its jurisdiction. 💰
In a recent interview with CNBC, U.S. house minority leader Kevin McCarthy said “I like Bitcoin. Is it where it needs to be? No, but the real thing I like when it comes to Bitcoin is blockchain, ‘cause I like the security. I want government to actually start using blockchain.” 🗣️
The hearing for Facebook’s Libra cryptocurrency project with the Banking Committee of the United States Senate commenced yesterday. Lawmakers grilled Facebook on privacy and trust concerns. 🗣️

Crypto calendar 📅

16 May - U.S. SEC's decision on the NYSE Arca and Bitwise Asset Management's Bitcoin ETF application (decision has been delayed)

19 Aug - U.S. SEC's initial decision on the VanEck, SolidX and the Cboe BZX Exchange Bitcoin ETF application

TBA - ICE's Bakkt Bitcoin Daily Futures Contract updated launch timeline

Poll of the Day

How much do you agree with this statement: "We are heading back to a bear market cycle" 💭

Why or why not? Share with me in the polls! 😆

What you said

"On a scale of 1-10 (10 being most enjoyment), how much do you like reading our daily newsletter?"

The average vote was a 9.1.

"Why or why not?"

Balanced and real. - Gotta keep it real. 👌🏻

Usefulness - Cheers! 🙌

I like your format and really enjoy commenting with my fellow bitcoiners. - I don't censor any comments whatsoever because I want it to be as raw as possible. 👍

love it. love it. love it. i look forward to ready it everyday & end up learning or refreshing knowledge. thank to everyone at coinmarketcap for your time in giving us daily dose of crypto knowledge & insight. - Thank you for your kind words! Great to know you look forward to it! 😀

I like the one question questionnaire each day. - Gotta keep it simple and not so time consuming so you can quickly get on with your day! 🙃

I like to read de news about cryptos and the way you offer us the news, good work!!, keep that way. Sorry my english i speak spanish - Thank you!!! Not to worry, I understand you perfectly! 😬

short and sweet - Only way a newsletter should be done. 😊

Quality content - Specially curated just for you guys! 🎁

There always something interesting, reading the responses to previous days question is insightful. I try and be close to my phone because at about 14H00 the cmc newsletter arrives. - Haha yeah personally I love the responses section the most because it lets me hear you guys' thoughts. It's always interesting. 😂

I know nothing about cryptocurrencies. It is all very confusing. Any information is helpful. - Don't worry! Keep hanging out here and I'm pretty sure you'll be brought up to speed!

Best site out there for crypto information. - 4eva.

Good education learning vehicle spattered with fun! Thank You! - Cheers!!! Very kind.

Because I am very surprise about yesterday News stating a continuous decrease bcse of MACD, and read today that Bitcoin is coming up today….. - Nothing is for certain! Technical analysis is about probabilities based on previous data. There is no guarantee how the price action will be in the future!

10! It's a 10! Coffee and CMC newsletter every morning while the kids eat breakfast with Good Morning Football in the background on TV. I enjoy the updates on the crypto world and I enjoy reading daily questions/replies from us and you. This is an informative newsletter with great links to more great info. I've been able to share a few to help teach newcomers. - Hey thank you so much for spreading the word about the newsletter. That's very kind of you! My aim is to make it the most subscribed and read newsletter in the crypto community, so I'll need any help I can get! 😬

I like the comments and seeing information that is concise. - Glad to hear that! Believe me, you guys are the funniest bunch lol. 😂

Seriously? This is the most informative source of informations I read every day. No senseless shilling and great research. Thank you! - Yeah I think you folks would appreciate condensed news with no frills and stuck to it! 👌🏻

Because I like the way you think about and assess all things crypto. - Hey appreciate the kind words!

because it keeps informed. and makes me $$$ - Where's my tip? Muahaha, just kidding. Enjoy the gains homie! 💰

I look forward to reading it every day. Well summarized, informative, insightful and often entertaining 👊. - Cheers! This made my day!

It's daily, not too long and informative! - Thank you!

Starts my day off right - Just like a cuppa this newsletter is meant to set you off on the right foot. 👍

I learn a lot of new things ... I especially like to read, how we evaluate this or that, and your comments to them))) - Appreciate it champ! Thank you for the support! Do continue to support!

Love it and the timing of it is perfect so that I can read it during my lunch break. Keep up the good work and this time next year Rodney I could be reading your newsletter from my Sea view Villa 🙂 - Imma drink to that! Invite me when you've landed on the moon from crypto 💰(:

Informative on an entire spectrum .Dont need to look elsewhere .Factual . Great read - Thank you, thank you, thank you!

It's great to have a source of news that isn't skewing everything towards a single product. - Hahaha yeah, don't you just hate those things? Ain't gonna do that to you guys ever. 🤦‍♂️

It covers the bases I want to read about in the crypto space and now got to the stage if I do not see it I miss it!! - Yeah the space just moves so quickly that you have to be in tune always. Glad to know this newsletter helps you with that! 😀

its because no hold bar meaning smooth and limitless - Danggg, appreciate the compliment!

"How would you like to see the newsletter be improved upon?"

Just keep doing what you do!!! - Gotta keep innovating!

it's prefect & very well organised.. also appreciate that u guys deliver it everyday without fail. if u can include poll with choice of fixed answers fixed & include results in next days newsletter it would be great. keep them coming.. - That's a great idea! I used to do that, but I figured open ended questions would be better to hear what you guys have to say! Will def try and mix it up though. 👍

Discussion of practical technology; specific wallets eg. Crypto developments; how to setup a smart contract, how to account for PnL for companys, companies who are accepting bitcoin. I think gov's should move to a broad based tax on consumption only and no income tax this way they could still get their revenue and also simplify the whole tax system - Great suggestions! Will look into these! 🧐

I have no complains in this part - Coolz!

I think it perfect as is. Keep up the good work! - Thank you!!! 👍

More relevant - Hmm, how though! 🤨

Nothing at the present time. I am just recently found you. - Glad to have you on board! Feel free to leave a comment in any following newsletter! 👍

It’s great as is. - Aww thank you. 😊

On each of the graph options, state both the high and the low for that time period at a glance! - Good point. 🤔

Keep doing what you're doing. Unless you can send out some satoshi for being cool, you are doing good - Wish I could hand out satoshi lol. Well, we are doing a swag giveaway! See the special announcement section above! 🎁

I would like you to visit the future, then come back and tell us what you saw, so that I don't have to think. - If I'm visiting the future I ain't coming back lol.

Damn, I am not ready for an extra question. 🤔 Seven days a week?🤷‍♂️ - Hahahaha this made me chuckle. 7 is too much! I need a break too! 😂

If if its not broke, etc! - I feel ya.

Do another 250 and I will try to figure that out - LMAO. good one.

Just keep doing what your doing I look forward to your newsletter every day. - Appreciate the nice words!

mmm...maybe more daily graphs , Fib , ADX and DI - This will be implemented in the near future! Just you wait!

I love to see a contact page not just on the newsletter but the website (am I missing something as never been able to see a contact page) so that viewers could ask questions, put forward ideas etc.. - There is! Scroll right to the bottom. There is a hyperlink there. 👀

Thank you all for reading! Catch you back here again tomorrow for your daily dose of crypto news! 💙