Dr Crypto

In today's blog, I will be looking at a coin named "Algorand". The Algorand blockchain has received attention from crypto influencers and analysts recently.  So the questions are what is Algorand? Why is it receiving a lot of attention? And what does the data show? What is Algorand? Algorand's website claims that Algorand is the "The Blockchain for FutureFi".  They site caims that " Algorand builds technology that accelerates the convergence between decentralized & traditional finance by enabling the simple creation of next generation financial products. Algorand is unleashing scalability, fusing TradFi x DeFi, and accelerating global sustainability." Who Are the Founders of Algorand? (From CoinMarketCap) Silvio Micali is a professor of computer science at the Massachusetts Institute of Technology, and the founder of Algorand. He is a recipient of the Turing Award (in 2012) for his fundamental contributions to the theory and practice of secur...

  The last few days have been about the fall of TerraUSD and Terra-Luna.  TerraUSD and Terra-Luna are crypto projects out of South Korea.  As the names imply, they are both run by a person named Do Kwon.  The fall of TerraUSD has led to the subsequent fall of Terra-Luna. What are Terra USD and Terra-Luna? Terra USD is a stable coin backed by Bitcoin and Terra-Luna is the connected b lockchain protocol.  From coinmarketcap.com: TerraUSD (UST) is the decentralized and algorithmic stablecoin of the Terra blockchain. It is a scalable, yield-bearing coin that is value-pegged to the US Dollar. TerraUSD was created to deliver value to the Terra community and offer a scalable solution for DeFi amid severe scalability problems faced by other stablecoin leaders like Dai. Thus, TerraUSD promises users a higher level of scalability, interest rate accuracy, and interchain usage. Terra-Luna is a blockchain protocol that uses fiat-pegged stablecoins to power price-stable globa...

In the month of May, The price of Bitcoin has been dropping. Influencers who once touted a price of $100,000, these influencers are telling their followers to HODL.  At this point in time,  it is unclear how far the price of Bitcoin could fall.  Many crypto analysts and influencers contend that large institutional investors will not allow the price of Bitcoin to fall below a certain amount. It has been reported that if the price of Bitcoin falls below $21,000 MicroStrategy " will be forced to pony up more cryptocurrency to back its $201 million Bitcoin-collateralized loan  with Silvergate Bank that was used to buy Bitcoin in the first place." - https://fortune.com/2022/05/04/michael-saylor-microstrategy-margin-call-bitcoin/ Crypto Market Cap and Bitcoin's Price and Dominance Charts

  I have included a chart with Facebook Prophet's price prediction for May 2022.  Facebook Prophet's forecast for May 2022 is similar to its forecast for April 2022; FB Prophet expects a price between 45,000 (high end) and close to 32,000 (low end).  The graph shows that most of Bitcoin's actual price has fallen within the FB Prophets' high and low-end bands. I will be reviewing FB Prophet's April 2022 prediction with Bitcoin's actual price in another chart.