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 Brief Dec.13

Bitcoin News

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.

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).

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.

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.

ATOM News

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.

Tezos News

Ran NeuNer, CEO of Onchain Capital, tweeted that he was shorting Tezos.

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.

Ripple News

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 News

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).

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.

CZ urged Jack Dorsey to go on with the development and offers him a hand.

Tether News

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).

Stellar News

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 News

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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