Crypto Brief Dec.11: Bitcoin will skyrocket to $100k in 2020 plus Ethereum, Ripple, Litecoin, Tron, WAX, Binance, Bitpay news
From predictions about Bitcoin’s new ATH to TRX will soon be listed on the Binance.US. These are some of the prominent news in the crypto space.
Ross Ulbricht, the founder of the infamous drug market Silk Road, recently predicted that Bitcoin’s price could skyrocket to as much as $ 100,000 by 2020. The prediction is based on the Elliott wave theory.
However, he warns that market dynamics are not always proportional and the numbers based on Bitcoin’s past price action are not always accurate.
Ulbricht made a prediction while still in prison. It takes about a week for him to upload the predictions online, which makes them a bit outdated but that doesn’t matter because he only focuses on the coin’s long-term price action.
According to Ulbricht, the overall trend of Bitcoin is still rising (despite a serious price adjustment).
The first period is divided into five waves. The end of the fourth wave market, the bottom of the 2014-2015 bear market when Bitcoin price fell to $ 175 in January 2015. This took place before preparing for its jump to ATH levels in December 2017.
ATH could mark the end of the third wave while another bear market starting in January 2018 could be the fourth wave, Ulbricht explained.
There is also another scenario in which a peak of $ 20,000 is the end of the fifth wave.
It means that Bitcoin can fix its entire move in the first place.
However, if the fifth wave is still going on, the next bull run could last until February 2021 and could eventually bring Bitcoin price up to $ 100,000 by early 2020.
Bitcoin ransom attack in Argentina
Alicia Bañuelos, Minister of Science and Technology of the local government of San Luis Argentina, confirmed that hackers conducted an attack on a government-owned data center in the country. The hacking team is said to have requested a ransom payment in Bitcoin (BTC).
About 7,700 GB of data, accumulated over a 10-year period, have been reported to be compromised by hacking. Bañuelos said the data center has recovered about 90% of the data encrypted by hackers and will take about 15 days to decode all the files.
Warning of Bitcoin price prediction of $ 100k based on S2F pattern
In a new interview on Coinist Podcast, Su Zhu, CEO of Singapore Three Arrows Capital, warned traders to focus on Bitcoin’s stock-to-flow (S2F). He said this ratio, denoting the relationship between the current production and supply of an asset to predict future value, is not a scientific way to analyze BTC.
S2F is currently widely used to predict a Bitcoin moonshot of up to $ 100,000. But according to Zhu, traders should understand that Bitcoin needs new buyers to drive prices up.
Since reaching the ATH of $ 1,400 in the 2017 cryptocurrency bubble, Ethereum has sunk, erasing nearly all of the gains from that. As of the time of this writing, ETH is trading at around $ 146, down nearly 90% from the ATH.
Despite this, the cryptocurrency is still up thousands of percent above the price it was traded in the first days. CryptoDude noted that the cryptocurrency is up 474x from its ICO price of 0.31 cents, which means that early investors are still getting quite a lot of profit.
$ETH is down 90% since it’s highs @ $1400 currently sitting at roughly $147.
— CryptoDude (@cryptodude999) December 10, 2019
Julia Chatterley of CNN announced an upcoming interview with Alex Holmes – CEO of MoneyGram, the global money transfer giant currently using Ripple’s on-demand liquidity (ODL).
— Julia Chatterley (@jchatterleyCNN) December 10, 2019
In the comments thread, a lot of requests to talk to Holmes about the use of Ripple’s XRP and MoneyGram, the way MoneyGram plans to expand it … come from the community.
Ripple launched xpring.io today
Ripple has launched a new portal for developers who want to build on XRP Ledger.
The portal at Xpring.io is designed to give developers a single store to manage everything they need when integrating payments into their apps and how to integrate other platforms. each other they used.
It features a custom wallet that allows engineers to check out XRP payments and create addresses without spending real money.
We’re excited to launch https://t.co/05eV3SyJnS today, bringing devs the tools they need to add money to their mobile + web apps. Join us in bringing #XRP and @Interledger to #developers everywhere. @ripple @ethanbeard https://t.co/ZLbTLyoVfC
— Xpring (@XpringDev) December 11, 2019
Rumors of a partnership between Ripple and Binance
XRP investors have said evidence of a partnership between Ripple and Binance may be emerging.
In February, CEO Changpeng Zhao said Binance will partner with a San Francisco startup in the future to support a cross-border payment solution called On-Demand Liquidation (ODL).
ODL is designed to provide banks and financial institutions with a legally compliant way of sending money abroad using XRP as a bridging currency.
According to members of the XRP community, a tracking tool designed to detect ODL volumes has uncovered several ODL transactions that may be related to the Russian ruble.
They are linking new deals with Binance, the company launched support for the ruble in October.
BlockFi, a US-based cryptocurrency lending platform, says that savings accounts for Litecoin are being implemented. According to Zac Prince, founder of BlockFi, there is support for LTC soon. However, no official launch date has been announced.
The company launched its platform with support for Bitcoin and Ethereum back in March, offering huge interest rates of 6% annually.
LTC coming very soon!
— Zac Prince (@BlockFiZac) December 11, 2019
Following the Matic flash crash, the cryptocurrency community is asking questions about how to choose crypto assets in Binance’s margin trading.
In September, Binance added Matic to its margin trading platform. The catch-up issue revolved around an embarrassing failure that saw a -70% loss in just one hour yesterday, per AZCoin News. These manipulated valuable coins only hurt the industry and make it look like a joke to observers on the sidelines.
According to recent reports, around 1.1B Matic has been up for sale as the dump sped up. This indicates that the incident was performed by an entity. 44% of the total market capitalization of this cryptocurrency was sold in the order book.
People are underestimating the extent of this dump. At one point I saw over 1.1b units for sale (after the dump had already begun) for a coin with only 2.5b units of circulating supply. Easily over 44% of the total market cap of this coin was for sale in the order book.
— MastermindCam (@mastermind_cam) December 10, 2019
Similar price action for Bitcoin will bring it down to $ 2,500 in just 30 minutes.
If you scale up what just happeend on MATIC, it would be like someone dumping 750,000 btc in 30 minutes and taking us to $2500.
— lowstrife (@lowstrife) December 10, 2019
BitPay has announced they will soon add three stablecoins to the list of supported tokens in a press release on December 10.
BitPay merchants around the world can now accept #stablecoin payments in PAX, USDC, and GUSD. Meet payments with the speed of blockchain and the stability of dollars ?: https://t.co/F6R02uvANU #BlockchainPayments pic.twitter.com/cgqKWc944B
— BitPay (@BitPay) December 10, 2019
The payment processor confirms businesses can now accept payments in USD Coin (USDC), Gemini Dollar (GUSD) and Paxos Standard Token (PAX). All are pegged to the US dollar.
Notably, Tether (USDT), the stablecoin with the largest trading volume, is absent in BitPay’s choice.
Accepting or paying with stablecoins opens up new possibilities for global businesses that require dollar stability but the security and efficiency of blockchain payments, according to the press release.
Tron CEO Justin Sun announced that TRX will soon be listed on the Binance.US along with nearly 20 other digital assets.
#TRON(#TRX) is in the next batch of digital assets that are going through the evaluation for listing on https://t.co/zj7XR0aDey. @BinanceAmerica is a reliable & inclusive marketplace for everyday American users that discovers projects with true utility. https://t.co/4Z40E2Lz6k
— Justin Sun (@justinsuntron) December 11, 2019
Besides, the Poloniex exchange, where Justin Sun is one of its major investors, has announced its intention to give users some new opportunities to make money. The platform will start from TRX at the end of December. Other crypto assets will also be added gradually.
New Ways to Earn ? Coming Soon!
Over the next few months we’ll be introducing more ways for our hodlers to earn. We’ll start with $TRX later this month and expand to other assets in the new year
— Poloniex Exchange (@Poloniex) December 10, 2019
DappRadar, a provider of data for decentralized applications (dApps) running on multiple protocols, has announced that they will add WAX (World Asset eXchange) to their platform.
WAX Cloud wallet allows entry to WAX dapps through existing social accounts such as Google and Facebook. Reducing barriers to adoption for dapp developers.https://t.co/ZIx9aSd3WH
— DappRadar (@DappRadar) December 10, 2019
DappRadar will filter data from Dapps running on the WAX blockchain. The company will be able to collect details about active users, token volume and trading activity. This will allow investors to gain insight into developments in the WAX protocol.
The move comes after WAX introduced the WAX Cloud Wallet last week.
In a December 9 blog post, the Maker Foundation published a series of governance polls for security after software developer Micah Zoltu explained how any hacker has $ 20 million. could make an attack on the MakerDAO network and steal nearly $ 340 million
A series of administrative polls into the voting system has been announced, with a poll asking the Maker community whether to upgrade the administrative security module (GSM) from 0 seconds to 24 hours.
Lithuanian Central Bank publishes research on CBDC
The Bank of Lithuania is the latest organization to publish research on a central bank’s digital currency as the Baltic nation aims to lead the region in fintech and blockchain space. The paper titled ‘CBDC in a whirlpool of discussion’ highlights the country’s ambition and perspective on the current cryptocurrency industry.
CBDC has recently won significant attention among policymakers and academics.
With the three main views expressed on this topic, the focus is clearly on innovation and progress with blockchain development in the small Baltic nation.
The paper outlines the capabilities of a variety of CBDCs with different characteristics.
They may include a retail-only cryptocurrency, wholesale options and the ability of interest-earning options.
ICC launched an Ethereum-based carbon credit transaction network
In a major initiative that will test real-world blockchain technology applications, the International Chamber of Commerce (ICC), is launching a carbon credit transaction network using technology built on Ethereum.
ICC will use AirCarbon, a commodity exchange based in Singapore, to power the carbon credit transaction network for the aviation industry accounts for about 2.5% of emissions worldwide.
By attaching financial costs to carbon emissions, the credit system encourages users to reduce their carbon footprint.
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