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Bitcoin is down 65 percent from its all-time high of $68,990. In June, it briefly dropped below $18,000, implying a 75 percent drop from its all-time high. Last year when he appeared on Kitco News, Hex founder Richard Heart predicted an 85 percent drop in the price of Bitcoin. “At my last appearance here, I said that Bitcoin was down to $10K,” he said. “So far, Bitcoin is actually down 75 percent, 10 percent lower than my 85 percent target.” Heart blamed institutions with large holdings in Bitcoin such as Celsius, MicroStrategy, and Three Arrows Capital for taking leveraged positions in the cryptocurrency, leading to the bubble. “Michael Saylor took leverage and he dropped, I believe, 30 percent on his Bitcoin stack,” Heart said. “El Salvador’s government is down, ARKK’s investment is down. Everyone was devastated, except for me. I called the top on the deck. ” Heart spoke with David Lin, Anchor and Producer at Kitco News. https://www.youtube.com/watch?v=/vfE7UFDceqI Bitc

But later in my career while I was at Bendigo Bank, I began to see that the technology that underpins Bitcoin has the potential to dramatically change finance and financial equity. So I started modeling to see how cost-effective it would be to use this technology, then I ended up at NAB and started looking at it on a larger scale. At NAB, I worked on several projects including Project Moon on syndicated lending, and what turned into Project Atom, which is a central bank digital currency project with the RBA. But these kinds of projects take years and are never seen, so I pretty much work undercover. Then suddenly, there was this beautiful little company that actually allowed me to develop this model in depth. I really feel like this is an opportunity to bring everything I’ve been working on into one space. Are you investing in bitcoin yourself? Yes, we all have our own wallets, and we have watched them go down every weekend. I would like to say that I have not transacted personally

Mooners and Shakers is sponsored by Dacxi, the world’s first purpose-built Crypto Wealth platform. Bitcoin lost a nice, round, $20K psychological mark earlier, but has managed to find some decent support above $19.6k, at the time of writing. Meanwhile, the CPI inflation data on Wednesday July 13 in the US, and all the technical analysis in the world today may not be able to keep up with the results. Is it as simple as: lower-than-expected inflation, rising crypto/risk assets; high inflation, crypto assets/risk down? Perhaps, despite the old high inflation “entry price” argument is also floating again. Perhaps the real kicker will come when the US Federal Reserve announces its response to the July 26-27 CPI inflation data with the possibility of another 0.75bp rate hike. Right, got it – inflation… macro sucks right now… is there anything else scaring the market, other than crypto also doing its best to burn internally through the “contagion” effect of Terra LUNA, Celsius and 3AC et al

Mooners and Shakers is sponsored by Dacxi, the world’s first purpose-built Crypto Wealth platform. Bitcoin and Ethereum are pumping, Celsius has reportedly paid off its BTC loans, and most of the top coins are having a good day. That’s all, the bear market is officially over, go up only from here. Sorry, got carried away – haven’t seen a crypto green day like this for a bit (though yesterday wasn’t too bad either). Source: Coin360.com Just a relief rally pump? Possible. With the next batch of US inflation data looming on July 13 and many experts expecting another 75bp rate hike from the Fed, there is no way the prospect of a flat-to-bearish downtrend can be ignored. That said, at least one prominent US financial analyst saw an orange glow at the end of what has been a pretty dank, sad, overused tunnel this time of year. Mike McGlone, senior commodities strategist at Bloomberg factored in the following… #Bitcoins could be one of the biggest bull markets in history at a relatively di