Crypto Brief Dec.17: Bitcoin price drops below $7000 plus ETH, ETC, EOS, Tron, XRP, XLM, OKEx, DAI, FTX, PAX, ErisX, Brave, Algorand, Uniswap news
From Bitcoin suddenly fell below key support level to OKEx will soon list MakerDAO’s DAI. These are some of the prominent news in the crypto space.
The bitcoin price broke below the psychological level of $ 7,000 by the end of Monday. Altcoins are also falling, even more than BTC.
Source: Trading View
BTC moved to a low in December. The last time I saw that low was on November 25, sliding to $ 6,638. Currently, this price acts as the next support line. If the break below it, we can see the bear become rebellious.
The original cause was thought to be after blockchain research firm Chainalysis reported that PlusToken scammers, a notorious Chinese Ponzi scheme, are selling off their crypto holdings to cash out, as AZCoin News reported.
Jacob Canfield seems to be seeing persistent bearish trends in the current BTC price behavior. He suggested that Bitcoin could drop to $ 5,500, which is said to be BTC’s local bottom.
What price do you guys have for the bottom on this #bitcoin downtrend?
I think we could see $5500 personally as it is the 78.6% from the swing low to swing high, but we may see a bounce or two in between here and there. pic.twitter.com/2TSK8XhecH
— Jacob Canfield (@JacobCanfield) December 17, 2019
Crypto analyst Michaël urged market participants to think twice before selling at current lows, as Bitcoin could continue to fall further.
You want to sell at $13,000+, not at $6,800.
Reverse your gameplan. $BTC
— Crypto Michaël (@CryptoMichNL) December 16, 2019
Trader Rampage pointed out that traders on Bitfinex added long Bitcoin positions after the price fell to $ 6,921. Perhaps those traders are holding some undisclosed price rise information, or some Bitcoin whales believe that BTC has bottomed out.
Analyst Big Chonis explained in a recent tweet that last week was in favor of bears, Bitcoin was still constrained in a descending channel.
— Big Chonis Trading ? (@BigChonis) December 16, 2019
Bitcoin will increase 10-50x in the long term
In an interview with Real Vision Finance, Pantera Capital CEO said he was still optimistic about Bitcoin, believing that BTC was ready to disrupt dozens of industries and climb new heights of all time.
Because of the high risk in the volatile cryptocurrency market, he believes investors should only allocate an extremely small portion of their portfolio to BTC. But the history of Bitcoin shows that ignoring it is completely unreasonable.
In the long term, he said that BTC is still poised to add another 10-50x from its current price, which will push the price to about $ 350,000.
Ripple and XRP News
Today, the bears roar after a long time of trading sideways in mixed cryptocurrency markets, with Bitcoin plummeting below the critical support of $ 7,000, resulting in most major altcoins making big losses.
It is currently unclear whether the bulls can sustain $ 0.20 as a strengthened support level, but a fall below this level could result in significant losses in the short term.
Is ripple broken?
Price has been literally flat for the past 8 week – it did break a key resistance imposed two years ago with NO reaction
?️@bgarlinghouse maybe you want to dump a few more tokens on the market?
“Making volatility great again” pic.twitter.com/ruiBzHkLdu
— TEDDY ⛓️? (@teddycleps) December 16, 2019
Analyst Jacob Canfield said he would still be inclined to buy XRP even if its price drops to as low as $ 0.10.
I cannot tell you how many friends and family members I saved from buying $XRP in 2018 and 2019.
It has to be in the hundreds.
My answer of when to buy has always been *maybe* $.10 to $.15, but even then I would be cautious.
This has to be my proudest achievement of 2019. pic.twitter.com/RJM2osAyJb
— Jacob Canfield (@JacobCanfield) December 17, 2019
Ripple currently has 534 employees worldwide
New data shows that the number of employees at Ripple is increasing at a dizzying pace. According to the Craft.co analysis platform, the company currently has about 534 employees worldwide.
The company is currently looking for a project manager. The new hire will help Ripple’s network of banks and financial institutions work with cross-border payment products, including ODL provided by XRP.
XRP / PHP reached new ATH
The XRP / MXN corridor on Bitso has been marking a new all-time high in terms of liquidity almost every day. The corridor recorded a new ATH of about 10 million on December 11. In addition, the XRP / PHP port has also witnessed an increase in its liquidity.
According to the Liquidity Bot, XRP / PHP recorded a new ATH on December 16 when it reached 1.37 million.
— Liquidity Index Bot (@LiquidityB) December 16, 2019
Ethereum, EOS, Tron News
According to DappReview, the dollar value moving through EOS’s Dapps has surpassed ETH and Tron. Within 24 hours, $ 8.7 million worth of EOS was moved, while Tron had only $ 4.8 million and ETH had only $ 3.0 million on their respective networks.
#DApp Daily Report:
— DappReview (@dapp_review) December 15, 2019
Ethereum ICO investor is selling holdings
Data scientist Alex Svanevik has noticed that an initial Ethereum ICO investor has been accused of dumping his ETH tokens recently.
Curious who this ETH ICO participant is: https://t.co/mA4mzt1tru
They’ve dumped (?) almost 300k ETH in the last few months – after hodling 530k ETH since the ICO in 2015.
3 days ago they transferred 60k ETH out of their wallet.
— Alex Svanevik (@ASvanevik) December 16, 2019
Justin Sun announced Tron-based new project
Tron CEO Justin Sun posted a tweet to the community to guess what Team JUST AI project based on Tron is doing, the release will take place in a week.
Make a guess? ? https://t.co/h4qsKKo3nm
— Justin Sun (@justinsuntron) December 17, 2019
Algorand, a decentralized blockchain network developed by the US blockchain company of the same name, will upgrade to version 2.0.2.
The upcoming network upgrade is ready to increase the amount of time it takes for nodes to upgrade to new consensus versions after reaching the voting threshold, as announced on December 13.
Scheduled for 10:00 AM ET on December 16, the Algorand v2.0.2 version is expected to take place at block 3,705,466.
In just one year, Uniswap, an increasingly popular decentralized token exchange protocol on Ethereum, has reached key milestones and community’s approval of becoming a keystone dApp in the first DeFi arena.
Accordingly, Uniswap has reached the next applicable milestone, with liquidity providers of decentralized exchange earning their first $ 1 million fees.
? As of yesterday, Uniswap LPs have earned $1M fees in 2019! https://t.co/JyJacAIrw4
— Uniswap ? (@UniswapExchange) December 12, 2019
Quantoz stated that currently supports Stellar Lumens (XLM) along with Ripple’s XRP.
The Dutch-based blockchain technology company said XLM and XRP are supported on the latest version of the Nexus protocol, designed to help companies manage crypto assets and integrate blockchain infrastructure (both public and private) into their businesses.
OKEx and DAI News
OKEx just announced that the exchange will soon list MakerDAO’s DAI with the following schedule:
- Deposit 09:00 Dec 17 (UTC)
- Spot Trading 07:00 Dec 18 (UTC)
- Withdrawal 09:00 Dec 19 (UTC)
Go live schedule ?
Deposit 09:00 Dec 17 (UTC)
Spot Trading 07:00 Dec 18 (UTC)
Withdrawal 09:00 Dec 19 (UTC)
— OKEx (@OKEx) December 17, 2019
According to a recent announcement by FTX exchange, Perpetual Futures on BiLira, a Turkish stablecoin issued in October 2019, went into operation.
The launch of BiLira Futures shows better token distribution on fiat-to-crypto platforms, bringing more investors into the cryptocurrency space.
FTX just launched futures on TRYB, a Turkish Lira stablecoin!https://t.co/R4nFxBFpPJ
— SBF (@SBF_Alameda) December 16, 2019
The blockchain development organization Ethereum Classic Labs Core (ETC Labs Core) rebranded itself as ETC Core, according to a blog post on December 15.
ETC Core technology coordinator Stevan Lohja said the rebranding will help the company differentiate itself from ETC Labs, one of the first incubators to support innovative projects on the Ethereum Classic blockchain.
Lohja also introduced the ETC Labs Core development team in early 2019. Since then, the ETC Core team has been working on core ETC projects, supporting the coin’s blockchain and providing tools for Dapp services, mining, and development.
A relatively rare event, Whale Alert reported that Paxos Standard (PAX) $ 8 million had just been cast at PAX Treasury.
? 8,075,112 #PAX (8,077,910 USD) minted at PAX Treasury
— Whale Alert (@whale_alert) December 16, 2019
The newly minted stablecoins have not yet appeared on the market, but this is a positive development for those hoping to have some relief after Bitcoin’s price drop today.
ErisX, a Chicago-based cryptocurrency exchange, announced that it will begin trading future digital currency products in a strange announcement on December 16.
ErisX contacted its members, informing them of their intention to start trading on December 17. The announcement was strange, as it appeared without any fanfare, leaving suspicion only exaggerated by the history of the exchange, as well as rival LedgerX.
Privacy-focused Brave has reached a new milestone three weeks before the end of the year. According to data from BATGrowth, there are currently more than 350,000 verified publishers on the platform and over 220,000 BAT addresses.
Very few companies in the cryptocurrency industry have seen the success that Brave has. The privacy-focused browser has surpassed much older and much more established competitors.
The number of websites, creators, and companies that have signed up for the Brave reward program has increased since last year. Data from BATGrowth has shown that there are currently 352,041 verified publishers on the platform, with over 232,222 of them being YouTube creators.
Swedish Bank works with Acckey to develop e-krona digital currency
On December 13, the Swedish central bank announced that it would partner with Acckey, a consulting and strategy firm for digital and technology operations, to begin the development process for A digital currency, e-krona.
The project will start by creating a test platform cryptocurrency development that can take place in a secure testing environment.
The Swedish central bank originally started the project in 2017 by observing the central bank’s ability to create a digital currency (CBDC).
New Zealand ASB Bank participated in the new funding round of TradeWindow
New Zealand’s ASB Bank, owned by the Commonwealth Bank of Australia, participated in the new $ 1.7 million funding round of blockchain startup TradeWindow.
TradeWindow provides software as a service supply chain solution to create a single trading window, accessible by all parties involved in the transaction.
After the seed, ASB Bank now owns 21% of the company and is the second-largest shareholder after TradeWindow CEO AJ Smith, according to a December 16 report.
- Some Famous Faces to Behind the Billion Dollar Bitcoin Futures Market
- Onecoin: Neil Bush, son of former US President George H.W.Bush, was paid $300,000 by “Cryptoqueen” Ruja Ignatova