14 Jun: Cryptopocalypse

“Formula for success: rise early, work hard, strike oil.

- J. Paul Getty

brought to you by - Get $10

Buy $BTC and Use the Bitcoin Payments Network at Zero Cost

Better than Venmo and PayPal combined

Happy Tuesday Folks! Yup, max pain continues to come and the Crypto market is on life support along with Celsius. Peter Brandt and Arthur Hayes are both saying it could get worse. Dropping below $20K will really create many to rethink the entire industry the same as it did when it dropped from $20K to $3K. Peter is saying his next target is $12,700 if Bitcoin breaks $20K.

Meanwhile there are other signals that lead you to believe it's down but not out. Bank of America survey reveals 90% are planning to buy Crypto this year. Cardano of all assets continue to see inflows from Institutions. NY Mayor is lobbying for the Governor to not sign the Bitcoin mining bill. There isn't a LOT of positive news but I am not ready to throw in the towel. Live to fight another day and look on the bright side - a lot of people are going to become Whole coiners if the price keeps dropping. Who will be crazy or courageous enough to buy? 

I will put in a calendar reminder to come back to this on June 14, 2023 and let's see what the picture looks like :) 

• Coinbase to Fire 1,100 Employees (Blockworks
• Layoffs Continue with BlockFi and CRYPTO.COM Latest Firms to Shed Staff (Bitcoinist

CELSIUS CARNAGE

• Celsius adds more collateral amid market sell-off to protect their Bitcoin from liquidation (CryptoPotato

• Market Liquidations Cross $1.22 Billion Following Bitcoin’s Decline Below $23,000 (Bitcoinist
• Bank of America Survey Reveals 90% Planning to Buy Crypto This Year (
• Crypto Markets Erased $300B in Days, Bitcoin Dipped to $20.8K: Market Watch (CryptoPotato
• MicroStrategy may be forced to sell part of its BTC holdings or add more collateral (
• El Salvador’s Fiscal Risk Is Extremely Minimal Despite BTC’s Crash, Says Finance Minister (CryptoPotato

• Over $1,300,000,000 in Crypto Liquidated in Last 24 Hours As Bitcoin Threatens To Breach $20,000 (
• Bitcoin (BTC) Bounces by 12% Following Drop to $20,855 (Cointelegraph

• $ADA is ‘Putting in a Higher High, Even After Moving Up 88% Against Ethereum ($ETH) (Cryptoglobe
• Cardano, XRP Face Institutional Inflows as Investors Draw Funds from Bitcoin and Ethereum (

STABLECOINS

• Payment Service Provider Checkout.com Is Adding Support for Stablecoin $USDC (Cryptoglobe
• Circle Introduces Support for Polygon $USDC (Crpytoglobe

• Scaramucci: Bitcoin Will Hit $100K In 12 Months, Ex-White House Chief Predicts, Despite Crypto Carnage (Bitcoinist
• Peter Brandt: Trader Who Nailed Epic Bitcoin 2018 Collapse Says Extreme BTC Correction Looming – $12,700 (
• Arthur Hayes: Predicts if Bitcoin Breaks 20K Levels, Massive Sell Pressure Is Expected (

NOTABLE VOICES

• Brad Garlinghouse: Explains Why Ripple Has Survived ‘Cyclical Bear Markets’ (Cryptoglobe
• JP Richardson: Taxes of top concern behind Bitcoin salaries, EXODUS CEO says (Cointelegraph

BLOCKCHAINS

• ‘Tons of Projects’ of Cardano-Powered Projects Are ‘Moving Forward Without a Care’ (Cryptoglobe
• Cardano Launched EVM Sidechain on its Testnet (CryptoPotato

EXCHANGES

• Binance to Cease Support for MimbleWimble-Based Litecoin Transactions (

• NY Mayor urges Governor to reject law banning Bitcoin mining in the state (Cointelegraph

LEGISLATION/REGULATION

• Brazilian Congressman introduces bill recognizing Bitcoin as means of payment (

PODCASTS

• The Breakdown: Sens. Cynthia Lummis and Kirsten Gillibrand on the Responsible Financial Innovation Act 
• Bitcoin Audible: Reboot - Everyone's A Scammer [Michael Goldstein]
• Bitcoin Magazine: Why every Altcoin will Fail w/ Jimmy Song