– Co-founder of Hong Kong-based blockchain investment firm Kenetic, predicted that bitcoin will rally up to $30,000 by the end of 2019
– Coinroom, a Polish cryptocurrency exchange, has shut down its operations
– CCN.com is shutting down after experiencing a 71% fall in mobile traffic
– U.S. real estate association has invested in blockchain-based real estate startup Propy
Jehan Chu, co-founder of Hong Kong-based blockchain investment firm Kenetic, predicted that bitcoin will rally as high as $30,000 by the end of 2019.
Speaking in an interview with Bloomberg, Chu said that bitcoin will continue its bullish direction in line with the rest of the crypto market in 2019 due to three factors:
– mass adoption by institutions like Facebook, JPMorgan, Rakuten and Fidelity;
– the crypto industry’s ability to become a “better tech story” about the Uber and Lyft IPOs;
– and the upcoming bitcoin halving.
***
Coinroom, a Polish cryptocurrency exchange, has reportedly shut down its operations and disappeared with customer funds. While the total amount lost has not been disclosed, some users said that they had up to 60,000 zloty (around $15,790) in their accounts.
Before ending its operations, Coinroom reportedly asked customers in an email to withdraw their money in one day, while in reality, customers have said that they were unable to get all of their money in this final withdrawal. A spokesperson for the district prosecutor’s office in Warsaw said that proceedings had been initiated against Coinroom for unregistered crypto payment services.
***
Cryptocurrency news site CCN.com is shutting down after experiencing a 71% fall in mobile traffic due to a recent update to Google’s search rankings.
“Google’s June 2019 Core Update rolled out on June 3th 2019 and CCN’s traffic from Google searches dropped more than 71% on mobile overnight. … this change by Google is directly having a significant impact on us as a small independent news organization that has never received any outside funding,” said CCN.com founder Jonas Borchgrevink.
“CCN was founded in the summer of 2013 as CryptoCoinsNews. We have been around for six years. We are (were?) the crypto-related news site with the highest amount of traffic worldwide. Although CoinDesk and CoinTelegraph have been friendly competitors with us the past six years for the #1 Alexa spot,” added Borchgrevink.
***
U.S. real estate association the National Association of Realtors (NAR) has invested in blockchain-based real estate startup Propy. The investment came from NAR’s VC fund Second Century Ventures via its REACH accelerator program.
Propy is a blockchain platform connecting real estate buyers, sellers, and brokers and allowing them to carry out a traditional real estate deal online. It also offers a deed registration tool, blockchain title registry, and a listing platform. It previously received $15.5 million in an initial coin offering in 2017.