Recap | Major drawdowns normal in Bitcoin bull markets, analyst says | Binance announces 28 new use cases for BNB, more coming

Happy Friday! 🔥 Welcome to CryptoSlate Recap, our daily newsletter containing links to some of the top blockchain stories on CryptoSlate and across the web.


Up, down, or sideways? Ethereum Classic, Ontology, OmiseGo, Augur, 0x technical analysis

Up, down, or sideways? Ethereum Classic, Ontology, OmiseGo, Augur, 0x technical analysis

Yesterday’s wild price action—where bitcoin saw its value jump above $9,000 to then quickly drop to $8,000—has the market wondering whether the bullish trend will continue or if it is time for a correction.

5 min read →


Major drawdowns normal in Bitcoin bull markets, analyst says

Major drawdowns normal in Bitcoin bull markets, analyst says

Bitcoin surged past $9,000 before plummeting to $8,000 and then recovering around $8,400. While the 8 percent drop was met with concern, one cryptocurrency analyst said that large drawdowns are actually normal in Bitcoin bull markets, adding that even more extreme drops are bound to happen.

2 min read →


Nevada Bitcoin broker on LocalBitcoins sentenced to 2 years in prison

Nevada Bitcoin broker on LocalBitcoins sentenced to 2 years in prison

Morgan Rockcoons, a Nevadan man accused of wire fraud and operating an unlicensed Bitcoin exchange for using LocalBitcoins, was sentenced to nearly two years in prison. According to a government press release, Rockcoons will also have to forfeit $80,600 in illicit profits.

2 min read →


Binance announces 28 new use cases for BNB, more coming

Binance announces 28 new use cases for BNB, more coming

There are now at least 83 different use cases for storing, using, and spending Binance Coin. The exchange said that its #UseBNB initiative will further increase this number, as more and more platforms are being launched on Binance Chain.

2 min read →


Craig Wright’s libel lawsuit could cost Peter McCormack up to £750,000

Craig Wright’s libel lawsuit could cost Peter McCormack up to £750,000

Peter McCormack, the host of the “What Bitcoin Did” podcast, revealed details about the lawsuit Craig Wright had filed against him in April. In a lengthy Twitter thread, McCormack explained the horrific legal ordeal he will have to suffer through to defend himself from Wright’s accusations.

2 min read →


How far will altcoins correct? Dash, Cosmos, NEM, Bitcoin Diamond, Digitbyte technical analysis

How far will altcoins correct? Dash, Cosmos, NEM, Bitcoin Diamond, Digitbyte technical analysis

Despite the wild price action that the cryptocurrency market went through today—where bitcoin saw its value jump above $9,000 to then quickly drop to $8,000—the charts could help determine where some of the highest market cap altcoins are heading. Dash Dash went through a month-long consolidation period from April to May.

5 min read →


[RESEARCH] Analyzing Bitcoin’s historical dominance over the crypto market, will BTC continue to dominate?

Analyzing Bitcoin’s historical dominance over the crypto market, will BTC continue to dominate?

During the last few weeks, many respected analysts have claimed that the bottom is in for bitcoin and the conditions are setting up the market for another “parabolic move,” as Peter Brandt explained.

7 min read →

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ICYMI

👀 Another copyright filed for Bitcoin whitepaper, mysterious figure challenges Craig Wright

📈 Coinbase listing opens EOS to millions of retail investors

🧽 Calvin Ayre on Bloomberg: Bitcoin SV will absorb all the other cryptos


What else?

The President and COO of Coinbase is departing the company after scaling to over $1 billion in revenue.


The #DefendCrypto movement by Kik has already raised its $5 million goal for its legal defense.

Mati Greenspan@MatiGreenspan
The Kin founded website
defendcrypto.org has already raised $5 million. The movement is growing.

Bitcoin metrics at all-time highs. Will price be following soon?


Jameson Lopp is offering to provide expert testimony to Peter McCormack in his legal battle against Craig Wright.


Featured blockchain companies

Thanks to the following companies for their support:

🌊 Seattle Devcon Blockchain - June 28-30 in Bellevue, WA U.S. Join us at this accessible and inclusive event for blockchain beginners and advanced level topics. 

🚀 OpenCrowd - a design and technology firm creating custom blockchain business solutions for global clients and early startups

⚡️ Blockstation - a leading Canadian FinTech company founded in 2014, provides one of the first digital asset trading solutions for stock exchanges.

Want to be featured here? Contact us to learn more.


Crypto market data

For more pertinent market data, please see:

🌚 Cryptocurrency Rankings

📈 Biggest Gainers - 24h

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💰 Highest Volume - 24h

🆕 Recently Added Coins


⚡️ CryptoSlate Research

CryptoSlate Research is an an exclusive, premium newsletter that delivers thoroughly researched, long-form analysis from cryptocurrency and blockchain experts. When you are a Research subscriber, you will gain access to members-only posts such as:

📈 Analyzing Bitcoin’s historical dominance over the crypto market, will BTC continue to dominate?

🇰🇷 Why UPbit was the only Korean crypto exchange to record a profit [$120m] in 2018


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Disclaimer: None of the content in this newsletter is meant to be financial advice. Please do your own due diligence before taking any action related to content within this article.