Crypto Brief Dec.03: Bitcoin price is in danger of falling below $ 6k plus Ethereum, Ripple, Monero, Binance, Bifinex, Waves, OkCoin, Power Ledger, Rootstock news
From the risk of Bitcoin’s price decline to hackers continue to move ETH from the hack of the Upbit exchange. These are some of the prominent news in the crypto space.
Those who are hoping for fractal may soon get a pill.
According to the popular analyst on Twitter Draftaskan Gooner, Bitcoin will most likely fall by nearly 20% compared to the present and retest the low-$ 6,000.
Price action still following this fractal ever so closely…
If today’s candle closes above $7300 I think we will see price reach somewhere around $7500 tomorrow.
And then… ? pic.twitter.com/tGTUnSuMiT
— NebraskanGooner? (@nebraskangooner) December 2, 2019
Whether or not it is a mere coincidence, the price of Bitcoin is moving in parallel with the fractal prediction of the trader.
If the fractal can hold the same level of accuracy as in December, BTC will quickly return to the $ 8,600 level just before Christmas.
The scenario for the peak season of bitcoin in December 2019
Jeff Dorman, a chief investment officer of Arca, said that Bitcoin and the cryptocurrency market in general, tend to be more affected by psychology and emotions than traditional markets.
As such, when a rally starts, the price of bitcoin usually increases by two to three times and when corrections occur, bitcoin tends to decrease by 50 to 80%.
Since reaching $ 10,600 on October 26, the bitcoin price has dropped below $ 6,600, losing nearly 40% of its value.
For the short to medium-term bitcoin price trend, momentum is the key.
If the bitcoin price begins to show signs that it will end 2019 below the critical resistance level, sentiment may spread throughout December.
Technical analysts have targeted a rebound to the $ 8,000 area after falling to $ 6,600, but they remain cautious about whether the recovery can expand to $ 9,000 and $ 10,000.
Popular trader ‘Dave the wave’ tweeted that he was always hesitant about short-term price prediction (as opposed to medium-term) because the shorter TM thinks the more random / less likely the prediction is. However, the fact that prices move sideways and fluctuate in the short term will not surprise him.
I’m always hesitant to predict prices in the short term [as opposed to the medium term] as I think the shorter the TM the more random/ less probable the prediction becomes. Nevertheless, wouldn’t surprise me to see price move sideways and volatile in the short term. pic.twitter.com/2eKRzM7d0T
— dave the wave (@davthewave) November 28, 2019
Bitcoin appears a sell signal
Crypto Thies said his God Market has just had a sell signal. The index is based on a proprietary algorithm and is designed to confirm trends while eliminating human bias and emotions.
He said that he was working on the theory that altcoins could rise better than BTC during the recession, but in the short term, the BTC market doesn’t seem to be very good.
An analyst nicknamed Bitcoin Charts has released a new data set that shows the long-term price action of BTC, with each year represented by a single candle.
The chart highlights the past impact of Bitcoin halving. In the past, the chart showed the pattern: BTC’s annual price action rose for three years, followed by a year of intense bleeding. If the past is true, the chart shows that BTC can prepare for two years of positive price action.
Bitcoin’s yearly candle | Source: Bitcoin Charts/ Twitter
Accounting and consulting firm EY launches TATTOO Wine.
The goal is to give people a way to confirm that their drinks are genuine or counterfeit.
The system is hosted on the public Ethereum blockchain, ensuring that neither party has complete control, increasing confidence in the integrity of the data.
EY said the platform is still undergoing testing in China.
Hackers continue to move ETH from the hack of Upbit
Whale Alert records all stolen ETH transfers from the Upbit exchange on the blockchain. Since Upbit was stolen five days ago, analytics accounts reported that about 253,000 ETH has been moved.
Source: Whale Alert/ Twitter
0x (ZRX) was ready to staking when V3 went live on Ethereum Mainnet
The 36th largest digital currency by market cap is now entering a new phase when the company announces 0x v3 currently live on the Ethereum mainnet, on December 2. This latest version has some 0x Improvement Proposals bundled together.
V3 is their biggest upgrade, since its launch in August 2017, it will set 0x as a robust liquidity API for the DeFi ecosystem and address some of the major issues encountered when Decentralized exchange.
1/ 0x v3 is now live on Ethereum mainnet! ⛓️
A brief thread on how the v3 upgrade evolves 0x into a community-owned liquidity API… ?https://t.co/tGkRGwtsvX
— 0x (@0xProject) December 2, 2019
Whale Alert today reported that 1 billion XRP (about 218 million USD) has been moved from Ripple Escrow wallet to Ripple and almost 1 billion XRP has been locked in deposits at Ripple at the same time.
Source: Whale Alert/ Twitter
The Monero network has successfully upgraded RandomX, a new mining algorithm intended to combat ASIC.
The development team in the Monero community conducted a live stream on YouTube on November 30. The upgrade took place around 58 minutes.
The new upgrade also introduces Proof-of-work (PoW), RandomX, which uses random executable code along with memory-focused techniques to combat ASIC.
Binance CEO Changpeng Zhao attended the annual summit on market capitalization in Istanbul, Turkey on November 19.
Zhao praised Turkey as one of the fastest-growing countries in cryptocurrencies and officially stated that Binance currently supports the Turkish Lira.
Binance Crypto Exchange añadió cuatro pares comerciales para el rublo ruso. Esto hace parte de una serie de nuevas características y activos agregados a la plataforma en los últimos meses. En noviembre, agregó soporte para la lira turca y el Fiat Gateway. #CriptoNovedadesEmet pic.twitter.com/rcid3mbFyy
— Emet Business Group (@emet_business) December 2, 2019
Binance launched four new trading pairs for the Russian Ruble
Leading cryptocurrency exchange Binance has published a list of four new trading pairs for the Russian Ruble.
According to the notice given by the exchange, the trading pairs including XRP / RUB, BNB / RUB, ETH / RUB, and BTC / RUB start on December 2, 2019.
— CZ Binance (@cz_binance) December 2, 2019
Binance acquired DappReview
Binance, the world’s leading cryptocurrency exchange, has just added DappReview, a data-based research and advertising provider based in Beijing, to its long list of new products and services.
DappReview often releases some research around the progress of decentralized applications (dApps). The acquisition will help the world’s leading exchange to expand the dApp ecosystem and develop new use cases for blockchain technology.
— Binance (@binance) December 3, 2019
Hong Kong-based cryptocurrency exchange Bitfinex has announced support for Lightning Network deposits and withdrawals, making it the first exchange in the industry to support this.
Starting December 3, Bitfinex will add support for Lightning Network deposits and withdrawals. New features will be provided to all users faster and cheaper transactions. Those who run their own Lightning Node will also be able to connect to Bitfinex.
Waves stated Wave DEX decentralized exchange stopped working on the old domain to continue operating as a mixed exchange, according to a press release on December 2.
According to the announcement, the process of transferring activities to Waves.Exchange has begun. User funds held on Waves DEX will remain completely secure during and after the process.
The mixed exchange was partially activated before the migration started early today and is expected to be fully operational by tomorrow.
The new trading platform will enable transactions that cannot be reversed, increase security and control users like decentralized exchanges with the features of centralized exchanges.
Dear users! We have moved! Trading operations at Waves DEX are now terminated (excluding migration). All exchange services will become available right after the https://t.co/z9r4K8yi2X launch. The launch is expected to complete within 24 hours. pic.twitter.com/xKa4pkbCrT
— Waves.Exchange (@Waves_Exchange) December 2, 2019
OK Group, the operator of the exchange OKCoin intends to invest US $ 140 million in China to facilitate the adoption of blockchain technology.
According to a shared statement on Sunday, the group will set up an Asia Pacific Innovation Center in China’s Hainan Province. OK Group plans to cooperate with the Hainan government to promote the blockchain ecosystem in China.
Our parent company, OK Group, is among the first to be enrolled in the Hainan Offshore Innovation Zone in China. This is a major step towards global expansion, as our group builds an innovation center promoting #blockchain development and industry adoption.? @starokcoin pic.twitter.com/FjpLvkoEmG
— OKCoin (@OKCoin) December 3, 2019
Power Ledger News
Australian blockchain startup Power Ledger revealed its plan to test a peer-to-peer solar trading platform in the Indian state of Uttar Pradesh on Thursday.
A step in the right direction. PowerLedger.https://t.co/o7qQQUP81P
— CZ Binance (@cz_binance) December 2, 2019
The pilot project, drafted by UP Power Corporation Limited and the Renewable and New Energy Development Agency. The goal is to allow rooftop solar panels to exchange energy with neighbors through the blockchain platform. The first phase of the project is expected to be completed in March 2020.
Bitcoin startup, Rootstock today announced that it will raise $ 200,000 to fund the development of dApps built on the Bitcoin blockchain.
To be eligible to receive funding and advice from the RSK team, developers can submit their ideas, which will then go through a four-stage registration process including a review round from the RSK team.
We are excited to announce that the Grants Program is live with up to 200K USD to be awarded! Want to build your dApp but need some funding? Get cash and mentorship directly from the rsk developers team! Visit us https://t.co/uBN1u18obn and submit your ideas! #ToolsForDevsByDevs pic.twitter.com/edgzb8uvyz
— RSK (@RSKsmart) December 2, 2019
NVIDIA announces an AI-based Blockchain platform for the healthcare industry
GPU and chip system manufacturer NVIDIA has released a new computing platform based on artificial intelligence and blockchain, assisting healthcare providers in reducing the analysis of complex 3D models from A few hours down to a few minutes, according to the blog post of the NVIDIA Vice President of Healthcare, Kimberly Powell.
The smart platform, Clara Federated Learning, provides deep learning models for the healthcare industry and runs on AI EGX’s smart platform.
Decentralized AI systems ensure data remains within the network of health care providers. Each customer on the network can use the platform to conduct in-depth learning, but also collaborate with other customers to provide a more accurate, global model.
The WTO shifts its focus to blockchain technology
The World Trade Organization (WTO), an intergovernmental organization involved in global trade rules among countries, has shown appreciation for blockchain technology at a recent conference held. held in Geneva.
The conference was intended to bring out use cases of blockchain in various fields including finance, transportation, logistics, border procedures, and agriculture, according to a report published by senior WTO analyst, Emmanuelle Ganne and Deepesh Patel Trade Finance Global.
The report surveyed more than 200 entities operating in the blockchain space and reached a conclusion by emphasizing the changes that this technology is bringing.
— WTO (@wto) December 2, 2019
Crypto Valley Association discloses Document on asset tokenization
Crypto Valley Association (CVA), a government-independent, independent blockchain technology and blockchain ecosystem, will release its Asset Tokenization Paper at its inaugural launch event for the Western Chapter.
Documentation defining the tokenization process for Swiss companies and addresses questions related to legal and tokenization techniques and provides guidance to participants with security tokens.
The association’s Asset Tokenization Paper defines best practice for the tokenization of assets in the Swiss #blockchain #ecosystem. @thecryptovalley #innovation #fintech #platforms #digitalassets #CryptoAssets https://t.co/7TvmibeVl7
— Daniel Steingruber (@dsteingruberCH) December 3, 2019
The SEC appoints the new cyber chief
Kristina Littman will be the new director of the Cybersecurity and Enforcement Unit, taking over from Robert A. Cohen, who left the post in August, according to the SEC’s announcement on Monday.
Joining the SEC as a lawyer in 2010, Littman became a senior adviser to SEC Chairman Jay Clayton in the summer of 2017. In that role, she advised Clayton on regulations and policies related to cryptocurrencies and digital assets, as well as international, trade and market matters.
- Bitcoin Halving Is Coming, But What Will This Affect The Price?
- Ethereum 2.0 Upgrade Can Bring Staking That Replaces Mining By 2020