Crypto Brief Dec.09: Bitcoin price is about to breakout or breakdown plus Ethereum, Ripple, Litecoin, Tron, Stellar, Tezos, OKEx news

From a mind game between Bitcoin’s bulls and bears to Tezos has just flipped Cardano to rank 11th on Coinmarketcap. These are some of the prominent news in the crypto space.

Crypto Brief Dec.09

Bitcoin News

After a bit of momentum last week, Bitcoin spent most of its weekend consolidating. Analysts are currently considering the uncommon premise of surrendering when prices have been flat for the past two weeks. This will reflect the same movements in the same period last year.

Analyst Jacob Canfield polled some of his followers to assess the sentiment of two opposites: Bitcoin bulls and bears.

Not surprisingly, only about half of the 1,800 respondents at the time of writing had a bullish opinion. Another psychological measure is that the fear and greed index of BTC is still recording a scary number 28.

Responding to chart comparisons, analyst Josh Rager noted that the current seems to be similar to the cumulative period that occurred last year.

In a few hours, Bitcoin’s weekly chart is expected to form a golden cross of the 50-week and 100-week simple moving averages. As one analyst recently pointed out, the last time he was seen, BTC increased 75% in the four to five weeks after passing. But will it happen again?

Perennial Trader Sakura noted that when the golden cross was formed in 2015, the market structure was bullish and gradually increased during the months leading up to it. Currently, Bitcoin’s chart structure is largely negative, and BTC is still in a downtrend starting in June, marked by lower highs and lower lows.

This difference seems to imply that Bitcoin is unlikely to see a 75% increase in the coming weeks.

Bitcoin may be poised for a big breakout

The Cryptomist tweeted that Bitcoin may be poised for a big breakout. The analyst says BTC appears to be in an ascending triangle and could break out in a matter of days.

However, analyst ‘Magic’ made an opposing view. He agreed that BTC may move to the upside in the short-term but King of Cryptos will remain in a bear market downtrend in the long-term.

Ethereum News

Trader CryptoWolf brought good news to the Ethereum community, sharing his thoughts on the ETH price hike he expected early next summer.

He believes that after more than half a year of correction (due to Falling Wedge and three months of bullish MACD divergence), ETH has broken out of the resistance area and will start rising rapidly.

Per trader, at some point after June of next year, the price of Ether will reach 61.8 Fib, which means – 0.05661 BTC or $ 423.

Trader Crypto Michaël also shared a similar price forecast on ETH.

Talking about the recent FUD Ethereum, he compared it to FUD Binance claiming to ban US citizens on the main platform when the exchange is about to open a branch in the US.

Ripple News

The University of Texas in Austin is looking to fund faculty and graduates who want to publish research projects focused on blockchain and cryptocurrency.

The program was supported by Ripple last November, partnering with universities to promote blockchain understanding in academia.

Litecoin News

In a new interview on Let’s Bitcoin podcast, Litecoin creator Charlie Lee gave a reason as to why LTC is a necessary and important cryptocurrency asset. He highlighted the biggest strengths of LTC and its overall liquidity.

Besides, Litecoin Foundation became a Sponsor to Boltathon, the world’s first virtual Lightning Network conference and hackathon.

Stellar News

The Stellar blockchain has been running the Lightning Torch version of bitcoin since the summer.

In early 2019, a member of the bitcoin community known as the “hodlnaut” launched a test called the Lightning Torch or Lightning Trust Chain. The idea is to test the Lightning protocol, a second-class scaling solution on bitcoin that reduces the cost of sending money (the experiment ends on April 10 as a donation to Bitcoin Venezuela).

Meanwhile, since June 26, Stellar has been quietly using its own version of the torch as a simple demo of how easy it is to transfer funds around the base layer of the proof-of-stake blockchain created. by Jed McCaleb.

The torch is currently 1150 XLM, or about $ 67. Unlike the lightning torch, Wouter Arkink, the Stellar torch’s instigator, says that participants do not always add the same amount to a torch (lightning users often add 10,000 satoshis, much less than a dollar). It can range from 2 to 50 XLM.

Tron News

Tron CEO Justin Sun has just tweeted that Tron ranks third after Ethereum and EOS according to CCID’s 15th global blockchain technology evaluation index.

Meanwhile, According to tronscan.org, in the past 14 days, the general account on the TRON network has increased from 4,190,559 to 4,262,802, showing an evident growth trend. TRON ecosystem is growing at a steady pace.

OKEx News

Tiered Maintenance Margin Ratio System for Spot Margin Trading is now available on the OKEx platform to facilitate a better margin trading experience.

And, after successfully launching OKEx USDT Futures, the platform is preparing to launch USDT-Margined Perpetual Swap trading.

OKEx also announced about another big news that the platform will soon launch Options Trading. The OKEx Options Trading Simulation Contest will be held from 04:00 Dec 12 – 04:00 Dec 23 (UTC).

Tezos News

500,000 Tezos have just been sent from an unknown wallet to Binance. The reason may be staking, a feature released by Binance last week for Tezos.

Many are speculating that the deposit is a sign that many larger players will send Tezos to Binance. As one Twitter user said, free staking is bringing customers to Binance.

Tezos just flipped Cardano, targeting the top 10

Tezos just flipped Cardano to rank 11th on Coinmarketcap when it’s market capitalization peaked a billion dollars for the third time this year. Starting the weekend, priced at around $ 1.30, XTZ soared to its intraday high of $ 1.65 a few hours ago. This move is equivalent to 27% after only two days making this altcoin one of the top-performing coins.

Source: Coinmarketcap

CEO Wealthchain Tezos Industrialist, Kevin Mehrabi, excited about Tezos’ new accomplishment and humorously says that XTZ will soon have a fun grudge match with EOS, currently ranked 7th by market capitalization on Coinmarketcap.

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