Bitcoin posts 5th consecutive month of gains, crypto-app downloads stall and a Bitcoin whale goes short
Here is your daily overview of important, interesting and market moving cryptocurrency news
Bitcoin posts gains for 5 months straight
After a strong rally in June that ended with a big dip, Bitcoin still managed to finish the month with a plus. In doing so, Bitcoin posted it’s fifth green month in a row. This has been the longest winning run for Bitcoin since August 2017
Crypto-related app downloads stall despite recent rally
Despite the recent surge in Bitcoin’s price, Bloomberg reports that the amount of cryptocurrency-related app downloads is not increasing. This could indicate that consumer enthusiasm is still low, even though Bitcoin rallied. It could also indicate that institutional participation in the cryptocurrency markets is on the rise and that it might have been a big driver behind the latest rally.
A Bitcoin whale goes short
According to a renowned cryptocurrency trader, a single investor placed a 20.000 BTC short order on Bitfinex on the 30th of June. Which in fact means that the investor is betting 200 million USD that Bitcoin’s price will go down.
The bitcoin price fell around 10% on the 30th of June.
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