Bitcoin Analyst: BTC Could Reach $25,000 by End of 2019, Polish Exchange Shuts Down and Disappears With Customers Funds, & Other News

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Bitcoin Analyst Says BTC Could Reach $25,000 by End of 2019 What is this all about? Bitcoin price analyst Oliver Isaacs thinks bitcoin will hit $25,000 around the end of 2019, saying: "There are multiple drivers behind the recent resurgence. There are geopolitical, technological and regulatory drivers. The net effect of the trade war between the U.S. and China has led to the sudden interest in bitcoin as a hedge on investments." What do other analysts think? Investor Tim Draper thinks that mainstream adoption will occur within the next few years, going so far as to claim that BTC will hit $250,000 by 2023. Analysts at SFOX have been more pessimistic, calling the outlook for the crypto market "uncertain" and cautioning that bitcoin's recent growth may have been simple FOMO. Read more here. Report: Polish Exchange Shuts Down and Disappears With Customers Funds What happened? Coinroom, a Polish cryptocurrency exchange, has reportedly shut down its operations and disappeared with customer funds. A spokesperson for the district prosecutor's office in Warsaw said that proceedings had been initiated against Coinroom for unregistered crypto payment services. What is the amount of loss? 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. Read more here. Tron's Justin Sun Wins eBay Charity Auction in $4.57M Bid to Lunch With Warren Buffett What is this all about? Justin Sun, Tron founder and CEO, has won an eBay charity auction to have lunch with Warren Buffett, renowned investor and CEO of Berkshire Hathaway.   How did it happen? In order to win the lunch, which Buffett has participated in for 20 years, Sun allegedly bid a record-breaking $4,567,888. The winner will be able to bring along seven friends to a New York steakhouse, and all proceeds from the auction go to San Francisco-based nonprofit Glide Foundation.   Details here.     Report: Facebook to Announce Cryptocurrency Project This Month What happened? Social media giant Facebook will reportedly announce its cryptocurrency project this month, and employees will be allowed to take part of their salary in the coin. What is this based on? According to unnamed sources, the white paper for the coin will be released on June 18. As well, Laura McCracken, Facebook's head of financial services and payment partnerships for Northern Europe, said in an interview this week that the stablecoin would not only involve a U.S. dollar peg. Other media reports this week have noted that there are now 100 people known to be working on the crypto project via profiles on professional networking platform LinkedIn. Read more here.             Bitcoin Useful as Investor "Tip-Off," Says Gold Bug Who Predicted 90% Price Crash What is this all about? Bitcoin could inform investors worried about the United States-China trade war, an executive from financial planning and wealth advisory firm Bleakley Advisory Group told CNBC in an interview on June 4. What is this based on? On the back of stock market weakness over fears that the trade war could escalate and the dollar weaken, Bleakley's chief investment officer, Peter Boockvar, drew attention to bitcoin's recent behavior and highlighted gold as a potential alternative. Details here.                                                                                      Prefer video instead of text? Check out our latest Hodler's Digest Want to change how you receive these emails? You can update your preferences or unsubscribe from this list. COINTELEGRAPH LIMITED · Shelton Street, Covent Garden · London