Hodler's Digest, May 27-June 2: Top Stories, Price Movements, Quotes and FUD of the Week

Top Stories This WeekKik Launches $5 Million Crypto Funding Campaign for Lawsuit Against U.S. SECKik, a Canadian tokenized social media startup, has launched a $5 million crypto initiative in order to fund a lawsuit against the United States Securities and Exchange Commission.

Kik CEO Ted Livingstone, also the founder of Kik's crypto project the Kin Foundation, announced the formation of the Defend Crypto fund, which plans to legally challenge the SEC to get regulatory clarity surrounding the definition of securities in regard to cryptocurrencies.

Report: Circulation of Facebook's Crypto Could Face Demographic ChallengesFacebook's payment-focused cryptocurrency, reportedly called GlobalCoin, could face demographic challenges, according to research from crypto analysis firm Diar.

According to the Financial Times, bitcoin's price reached as high as 394,000 pesos per coin, which are prices that have not been seen since the crypto spike in late 2017.

Cryptocurrency Broker Client Reportedly Aims to Acquire 25% of All Bitcoin SupplyForbes reported this week that digital currency investment firm Dadiani Syndicate was reportedly approached by a wealthy client to buy as close to 25% of the bitcoin supply as possible.

The firm, a peer-to-peer network where people trade with each other in crypto, made news last year when it put 49% of Andy Warhol's 1980 work "14 Small Electric Chairs" up for sale for bitcoin and other digital currencies.

The crypto market is slightly down, with bitcoin at around $8,448, ether at $262 and XRP at $0.44.

Prediction of the WeekKenetic Co-Founder: Bitcoin to Trade at $30,000 by Late 2019, Regardless of Bitcoin ETFJehan 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 Markets: Asia, 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.

Bitcoin's Overnight Crash Doesn't Stop Experts From Remaining Macro BullishAs the top cryptocurrency reached new yearly highs, before briefly dropping back down, Cointelegraph correspondent Joseph Young analyzes the market outlook.