The Voyager Weekly Round Up

I don’t know about you, but I was glued to the markets this week. I found myself obsessively opening the Voyager app, staring at the prices of Bitcoin, Ethereum, XRP, and other top assets as they flashed red. I flipped back and forth to the stock market, which was spooked into a massive sell-off by an inverted yield curve.

A summer full of regulatory scrutiny and a flip-flopping trade war between the U.S. and China kicked volatility into high gear this week.

On Thursday, Bitcoin fell below the $10,000 threshold, Ethereum dropped under $200 for the first time since May 2019, and XRP touched $0.25, its lowest price in more than a year. All this happened as the interest rates on short-term bonds went higher than the interest rates paid by long-term bonds – a key recession indicator in the equities market.

With no clear signal to blame, some pointed to the Yuan’s recovery as the reason for crypto market's sell-off, while others to the uncertainty in global financial markets.

Is it as bad as it Seems?

Never! As the week comes to an end, the crypto market is gaining stability. Bitcoin has bounced above $10,000, and Ethereum has held firm around $182 for the last 24-hours. If BTC can gain momentum at $10,400, the bears will likely go into early hibernation.

On the less technical side of things, Crypto Twitter believes Bitcoin is still heading over $20,000 this year. More than 800 people liked Blockroot’s Founder Josh Rager’s tweet, indicating their conviction that a new all-time-high is around the corner.

What do you think?


New Zealand’s tax office, the Inland Revenue Department (IRD), has made it legal to receive salaries in cryptocurrency, and be taxed accordingly. The crypto asset being paid must also be able to be exchanged for fiat currency, and must have the primary purpose of acting like a currency or be pegged to the price of one or more fiat currencies, the IRD states. Read more.


Ethereum falls below $200 in sea of red

Things have taken a turn for the worse for Ethereum, with the cryptocurrency crashing to its lowest value in over three months amidst a global market sell-off. Read more.


Bitcoin Draws Premium in Argentina and Hong Kong Amid Sell-Off

The turmoil in Argentina and Hong Kong is prompting local investors to pay a premium for Bitcoin, with the leading cryptocurrency proving to be less of a refuge for everyone else than advertised. Read more.


Ripple to Give Away 1 Billion XRP in Massive Bid to Fund Online Content

Announced Thursday, Ripple’s investment arm, Xpring, participated in the $4 million seed round for the in-browser payment processing startup Coil, spearheaded by former Ripple CTO Stefan Thomas. Read more.


Researchers: Bitcoin Price Drop Not Caused by $3B Ponzi BTC Dump

Bitcoin’s (BTC) recent price drop has not been caused by Bitcoin sell-offs from a $3 billion Chinese Ponzi scheme PlusToken, according to researchers at crypto analytics firm TokenAnalyst. Read more.


Altcoin Apocalypse: Only Two of Top Ten Crypto Cap Have Outperformed Bitcoin

The further Bitcoin has climbed, the worse the altcoin market has suffered, to the point many are calling for an altcoin apocalypse that takes the price of most crypto assets to zero, except for Bitcoin and a select few that still provide value and utility. Read more.


China’s Digital Fiat Wants to Compete With Bitcoin – But It’s Not a Crypto

China may be about to launch a fiat digital currency, but in all likelihood, it will only resemble a cryptocurrency on the surface. Read more.


Serious Security Warning Issued For World's Biggest Bitcoin And Crypto Exchange, Binance

Bitcoin and cryptocurrency exchange hacks and security breaches are still a common occurrence but the biggest bitcoin market places are working hard to change this—with mixed success. Read more.


New Zealand’s tax office, the Inland Revenue Department (IRD), has made it legal to receive salaries in cryptocurrency, and be taxed accordingly. The crypto asset being paid must also be able to be exchanged for fiat currency, and must have the primary purpose of acting like a currency or be pegged to the price of one or more fiat currencies, the IRD states. Read more.


As Protests In Hong Kong Surge, So Does Demand For Cryptocurrency

Hong Kong has been engulfed in a series of protests as tensions over its relationship with Mainland China have been inflamed by recent proposed extradition legislation to the Mainland. Read more.


Goldman Sachs Gets Bullish on Bitcoin With a Price Target of $13,971

In a note to customers, Goldman Sachs gave a bullish forecast for Bitcoin price. Shared on Twitter on Aug. 11, the note suggests a short-term target of $13,971. The target given is based on Elliott Wave Theory, which forecasts market trends by identifying extremes in investor psychology, along with price highs and lows. Read more.