Crypto Brief Dec.13: Elliott Wave signals Bitcoin price up to $ 25,000 plus ATOM, Tezos, Ripple, Binance, Stellar, Coinbase, Tether news
From Bitcoin’s bullish outlook to the new breakthrough into the mainstream of XRP. These are some of the prominent news in the crypto space.
Crypto analyst Michaël once again commented that the Bitcoin market is ‘boring and fragile’. According to him, if the green area holds, the Bitcoin price will explode and head towards the $ 7,800 area as the chart shows.
But he also warned that a bearish move could occur if the area is not held.
Boring & fragile markets here.
Either of the two.
1) If green holds, I’d want to see a break up during the day and then we can start aiming for the range highs again.
2) If not, then acceleration will likely occur again and then I’m aiming at a significant drop. pic.twitter.com/uGYfPQ2HqS
— Crypto Michaël (@CryptoMichNL) December 12, 2019
Having the same optimistic sentiment, bitcoin investor Alistair Milne has provided the community with an insight into the Bitcoin price through the Falling Wedge model. Some people point out that it’s a bullish sign (Falling Wedge or Rising Wedge pattern often leads to a reversal).
— Alistair Milne (@alistairmilne) December 12, 2019
According to the latest analysis by Dave the Wave, Bitcoin may see some price action in the near future, but will soon resume its long-term uptrend using Elliott Wave analysis. According to him, BTC will hit a low of $ 6,000 around February 2020, then rise to $ 25,000 or higher – about 250% of the current price – in early 2021.
One for the Elliot wave fans… pic.twitter.com/fXx97nMsTc
— dave the wave (@davthewave) December 11, 2019
John Griffin: Whales can easily sink bitcoin prices
Economic professor John Griffin recently sounded an alarm bell about the impact of Bitcoin whales on the Bitcoin market. He told Bloomberg that some big players could easily sink the price of BTC unexpectedly.
According to data published by CoinMetrics, the number of BTC controlled by deep-pocketed Bitcoin investors has reached a four-year high. As of December, 42.1% of the total circulating supply of Bitcoin stored in the wallet had between 1,000 and 1 million BTC.
Mark Cuba: “I am not opposed to Bitcoin”
Billionaire Mark Cuban has received many reactions from the cryptocurrency community after saying that Bitcoin has no chance of becoming a reliable currency.
Cuban makes it clear that he is not the opposite of Bitcoin. However, failing to achieve orthodox acceptance means King of Cryptos follows some great products/services that have failed due to a lack of consumers.
You don’t have to convince me. You need to convince your neighbors. If they don’t see value, that is the problem you need to solve. I’m not opposed to BTC . I understand every argument being made.The world is littered with great products/services that failed for lack of consumers
— Mark Cuban (@mcuban) December 12, 2019
ATOM prices have increased since the beginning of September. It has recently moved above a significant resistance area and may continue to move higher.
On December 5, Binance announced that it would support ATOM staking. Since the announcement, ATOM prices have increased by 16%.
Trader Devchart stated that ATOM price is currently in the process of booming but first needs to remove the resistance areas of 67,000 – 80,000 satoshis.
— Devchart (Andre) (@devchart) December 11, 2019
Ran NeuNer, CEO of Onchain Capital, tweeted that he was shorting Tezos.
I’m shorting XTZ. Wish me luck!
— Ran NeuNer (@cryptomanran) December 12, 2019
Meanwhile, Weiss Crypto Ratings put Tezos in the promising blockchain system alongside Ethereum and Cardano and said that both three will need Chainlink because it provides truly safe and reliable data.
Platforms like #Ethereum (#ETH), #Cardano (#ADA) and #Tezos (#XTZ) will probably also need #Chainlink. They run lots of smart contracts & aim to replace a host of centralized services in the world today. That’s not going to be possible without reliable and secure real-world data.
— Weiss Crypto Ratings (@WeissCrypto) December 12, 2019
Ripple’s XRP was first mentioned in an official U.S. government document.
The Consumer Financial Protection Bureau (CFPB), an independent U.S. agency responsible for protecting consumers in the financial sector, has proposed the addition of a safe harbor in its money transfer rules, allowing reduced compliance costs for limited money transfer organizations for one year.
The CFPB mentioned that the money transfer market has faced “significant changes” since its implementation due to a combination of advanced technologies from cross-border payment providers.
Accordingly, Ripple is one of the industry disruptors along with SWIFT Global Payment Innovation (SWIFT GPI) and non-banking financial companies.
Different view to protecting transactions on RippleNet
Ripple says they may have a different view of how it closely protects the number of transactions processed on RippleNet.
Successful vice president of Ripple’s customer, Marcus Treacher, in an interview with Bobsguide stated that it depends on the company’s overall growth.
Binance has announced the launch of a fiat gateway for Latin America. The announcement came during laBitConf, a major cryptocurrency event for Latin America held in Montevideo, Uruguay.
The new platform, called Latamex, will operate under the Binance Fiat Gateway. It allows Binance Latin American users to buy cryptocurrencies directly linked to Santara Network, the Latin American digital asset liquidation network.
Latamex will initially be launched in Argentina and Brazil, allowing direct purchase of cryptocurrencies with Argentine pesos and Brazilian reals. Users will be able to purchase Bitcoin (BTC), Binance Coin (BNB), Ether (ETH) and Binance USD (BUSD).
#Binance Announces Latin American Fiat Gateway
— Binance (@binance) December 12, 2019
CZ supports Jack Dorsey ambition for developing a decentralized social media standard
After the Weibo account of CEO Tron Justin Sun and Binance co-founder Yi He was blocked, Binance CEO Changpeng Zhao (CZ) encouraged Dorsey to continue with Bluesky. According to CZ, the community really needs an early decentralized social media platform.
I don’t use Weibo much anyway.
Guess we gonna need that protocol-based social media sooner than we think. Were we just talking about it today?
— CZ Binance (@cz_binance) December 12, 2019
CZ urged Jack Dorsey to go on with the development and offers him a hand.
Would be happy to give him a hand, of course.
— CZ Binance (@cz_binance) December 12, 2019
Canada’s Instacoin ATMs has added stablecoins like Tether to their machines due to high customer demand. Besides Tether, five stablecoins have been added including DAI, USD Coin (USDC), Paxos (PAX), Gemini Dollar (GUSD), TrueUSD (TUSD).
Canadians can now instantly buy and sell a new class of low volatility cryptocurrencies at Instacoin ATMs.#instacoin #btm #atm #cryptocurrency #BitcoinATMs #Altcoins #cryptocurrencies #Litecoin #BitcoinCash #DASHhttps://t.co/qWI9arFZQv pic.twitter.com/AnUsgDKAwX
— Instacoin (@Instacoin) December 11, 2019
Grayscale has released a new overview of Stellar. The report highlights the almost immediate coin transactions and the Stellar Development Fund’s efforts to promote technical development and network adoption.
Stellar is currently being piloted for institutional financial use cases by Fortune 500 companies including IBM and Franklin Templeton for cross-border payments and stock tracking and payment.
Coinbase is adding support for Orchid (OXT) on the professional trading platform Coinbase Pro, according to a blog post on December 12.
Coinbase Pro will start accepting OXT deposits starting Friday, December 13, for at least 12 hours before allowing full transactions.
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