Crypto Brief Dec.21: Bitcoin price potentially breaks above $ 7800 or so plus Ripple, USDT, USDC, PAX, TRX, XLM, ShapeShift, Binance, Coinbase, KuCoin news
From two scenarios of the BTC price moves to privacy doubts on Binance Singapore. These are some of the prominent news in the crypto space.
Popular analyst Dave the Wave recently implied that BTC could soon recover based on Fib retracement levels.
Price targets hit of ‘M1, M2, and M3’.
M1 – BTC Market Cap…… 50%
M2 – Total market Cap…. 61%
M3 – Alt Market Cap…….. 78%
OK, Crypto, you can go back up again now….? pic.twitter.com/JiL5pgYGr0
— dave the wave (@davthewave) December 20, 2019
In addition, he expected Bitcoin’s weekly MACD indicator to move upwards, which will launch the next round of growth on the BTC market.
Trader Scott Melker posted several consecutive tweets earlier today said that a double bottom pattern is forming on the chart. He said that a break of $ 7,100 (green line) could bring BTC up to $ 7,870 (green line). However, if the price breaks below $ 7,100, it can slide towards the black line – $ 6,526.
A break of the blue line would confirm a double bottom. The red line is still resistance – price is still making lower highs and lower lows for now. Move up the other day irrelevant for the moment. The black line is key support. Basically ranging between blue and black. pic.twitter.com/YyvnjNWEfP
— The Wolf Of All Streets (@scottmelker) December 20, 2019
Bitcoin has seen volatile days from 2017 to now, with 20 times price movement over 20%.
The movements in one of two directions have many different causes, from incidents from all-time highs to short-term protests.
Since 2017 there have been twenty 20% or higher intraday moves for $BTC (UTC) pic.twitter.com/7TF55ZNMK5
— Ceteris Paribus (@ceterispar1bus) December 19, 2019
Even so, trader TeddyCleps noted that until Bitcoin reached a weekly close above the critical level at $ 7,000 and $ 8,000, (a historic support-turned-resistance), he will still doubt, implying further reduction.
Chill pill and zoom out ?
Control your fomo, yes shorter timeframes are looking promising – but don’t forget that longer TF are king.
Until weekly gives us a majestic close above blue AKA previous support now resistance, ill remain skeptical and only scalp pic.twitter.com/bt6xmceeT5
— TEDDY ⛓️? (@teddycleps) December 21, 2019
10 million dollars BTC was sell-off
WhaleTrades reported that an anonymous investor sold more than $ 10 million worth of bitcoin for $ 7,125 on BitMEX, the largest cryptocurrency margin trading platform.
BitMEX $BTC Whale:
$10,000,000 worth of #Bitcoin sold at $7,125.32 09:21:59 2019/12/20
| ?????????????????????????????????????????????????????????????????????? So scared right now
— WhaleTrades ? (@WhaleTrades) December 20, 2019
15.837 BTC transferred
Whale Alert has reported that within the past 24 hours, 15837 BTC has been transferred back and forth between unknown exchanges and wallets. In particular, there is a transfer of 10,000 BTC from an unknown wallet to Xapo, most likely selling.
USDT, USDC, PAX News
Another 30 million USDT has just been minted at the Tether Treasury, according to Whale Alert. Fresh money will soon be put on the market.
? ? ? ? 30,000,000 #USDT (30,093,298 USD) minted at Tether Treasury
— Whale Alert (@whale_alert) December 20, 2019
Besides, after 35,028,442 USDC was minted yesterday, an additional 13,000,000 USDC was minted at USDC Treasury today. Shortly thereafter, the same amount of USDC was transferred from the USDC treasury to an unknown wallet
? ? 13,000,000 #USDC (12,985,459 USD) minted at USDC Treasury
— Whale Alert (@whale_alert) December 20, 2019
1,445,038 PAX has also just been minted at PAX treasury.
? 1,445,038 #PAX (1,447,500 USD) minted at PAX Treasury
— Whale Alert (@whale_alert) December 20, 2019
The Stellar Development Foundation (SDF) has announced a task to outline future spending plans. SDF currently holds 30 billion Stellar (XLM), an amount equivalent to $ 1.3 billion. The company was tasked with spending those funds on Stellar development – primarily in the areas of development and promotion.
SDF has dedicated 12 billion XLM to allocate for direct development while dedicated 10 billion XLM for in-use investments. In addition, SDF has dedicated 2 billion XLM to support the Stellar ecosystem. Finally, SDF has dedicated 6 billion XLM for user acquisition.
This could explain why SDF transferred 9 billion XLM from SDF Operations to the unknown wallet earlier today, according to Whale Alert.
ShapeShift and FOX News
A month ago, ShapeShift released a FOX token. It was interesting to see how monthly free trade volumes with FOX affected user engagement. We’ve estimated the type of users based on the distribution of FOX and also noticed a decrease in transactions from the distributor account.
100 FOX are accrued to each user who has passed KYC. Also, 0.25% of the trading value is earned back in FOX. According to the platform, there is no purchase of FOX tokens on the platform. As a result, the EtherDelta and Uniswap markets were created.
CEO Brad Garlinghouse said Ripple currently has more than 300 customers. He expects Ripple’s customer base to grow by 30-40% by 2020 and says its online transaction volume will increase by more than 600%.
While XRP may be more efficient than traditional money transfer methods like bank transfer, skeptics question whether Ripple will have a role in the future.
The price of XRP is still not really good compared to the rest of the market at the end: down about 50% since January 1 this year.
Twitter user Catxolotl reported that he received a message from Binance Singapore announcing that his withdrawal was suspended due to risk management for the user. The exchange stated that it had reason to believe the individual had used the CoinJoin money mixing service. This is a standard feature of the Wasabi wallet focused on privacy.
He raised his privacy concern when Binance knew he was sending to Wasabi when all he entered was bc1 address, nothing more.
Bitcoiners be warned: this is what happens if @BinanceSGD finds you withdrawing to @wasabiwallet
Not surprised that my transactions are tracked, it’s KYC after all
But I’m very concerned that Binance knew I was sending to wasabi, when all I input was a bc1 address, nothing more pic.twitter.com/T6ePjahESY
— Catxolotl (@bittlecat) December 19, 2019
To provide a new and better trading experience for users, KuCoin’s KuMEX has increased its maximum leverage to 100x for perpetual bitcoin contracts. Users can now select any leverage between 0.01x and 100x.
?#KuMEX has increased the maximum leverage to 100x for Bitcoin Perpetual Contract. Users can now select any leverage between 0.01x and 100x.
【More info】https://t.co/Qv2Gzo6LoW pic.twitter.com/Bb9Nlyi6uz
— KuMEX (@KuMEX_Official) December 19, 2019
The first DeFi will go live on the TRON network on the 24th of December, 2019, and is promised to be backed by BitTorrent (BTT) and WINk (WIN).
The first #DeFi will go live on the #TRON network on the 24th of December, 2019, and is promised to be backed by #BitTorrent (#BTT) and @WINkorg (#WIN).https://t.co/1xxpUyXWVR
— TRON Foundation (@Tronfoundation) December 19, 2019
TronLink supports TRX, TRC10, and TRC20 tokens. It enables users to get deeply involved with TRON‘s ecosystem building and also opens up SDK and testing environments to fully serve developers and expand TRON’s ecosystem through joint efforts.
.@TronLinkWallet supports #TRX, #TRC10 and #TRC20 tokens. It enables users to get deeply involved with #TRON‘s ecosystem building. And also opens up #SDK and testing environment to fully serve developers and expand TRON’s ecosystem through joint efforts. pic.twitter.com/9lOSqvVHf6
— TRON Foundation (@Tronfoundation) December 20, 2019
Meanwhile, TeamJust is about to be launched on the TRON network.
?After a long time of waiting, Just Game @TeamJustDev is about to be launched on #TRON network. Let’s embrace this interesting financial experiment!
?TronLink has prepared 500k $TRX to all Just Game players.
?Dec. 22 – Dec. 29
? Check details belowhttps://t.co/9vVVWOiOkq
— TronLink (@TronLinkWallet) December 19, 2019
Coinbase CEO Brian Armstrong has been granted a patent for a system that allows users to trade Bitcoin via email directly.
Issued by the US Patent and Trademark Office (USPTO) on December 17, this method allows users to make Bitcoin payments using email addresses attached to wallet addresses, without incurring transaction fees.
Astro joined Coinbase
The Astro Wallet team has joined Coinbase. For the past two years, the team has focused on innovating UX for crypto. The team will continue its efforts towards a shared mission of creating an open financial system for the world after partnering with Coinbase.
We are honored to share that the Astro Wallet team has joined @coinbase! For the past 2 years, we have focused on innovating UX for crypto. In joining forces with Coinbase we will continue to work toward our shared mission of creating an open financial system for the world. pic.twitter.com/gOmKtlBhxL
— Astro (@astro_wallet) December 20, 2019
Argentina posted highest LocalBitcoins volume
Argentina broke a record on LocalBitcoins when the platform recorded the highest volume of transactions ever in the past two weeks.
During the week of December 7, LocalBitcoins in Argentina recorded a trading volume of 22,466,140 Argentine pesos. In the following week, it recorded 21,513,195 Argentine pesos. Both are record-breaking compared to the transaction volume recorded just three weeks ago.
GSR teamed up with Interhash to provide risk management solutions for Bitcoin miners
In a December 20 press release, GSR, a liquidity service provider and a digital asset market maker, announced a partnership with Interhash, a mining service company and a strategic partner of Canaan.
The purpose is to provide risk management solutions for bitcoin miners on the Canaan network, allowing them to guard against losses and make profits from inventory.
GSR will provide a customized suite of products, including swaps, collars, and many other bespoke structured tools from January 2020. They will provide a barrier against volatile factors such as Bitcoin price, mining difficulty, electricity, and equipment costs.
JCB Japan signed MoU with Paystand to apply blockchain-based B2B payment solution
Japan’s leading credit card issuer JCB plans to adopt a new business-to-business (B2B) payment solution based on blockchain technology.
JCB signed a Memorandum of Understanding (MoU) with the Paystand blockchain-based commercial payment platform to develop digital payment platforms for businesses and customers in Japan.
This aimed at cutting costs and delays related to online internet money technology is still being implemented on Japan’s a $ 10 trillion B2B market, which is still dominated by cash transactions. Only 1% of commercial payments in Japan are made via credit card.
Today –> 90% of all b2b payments in Japan are via cash or paper methods in a $10 trillion market.
Future w/ @JCB_CARD + Paystand –> easy, secure, frictionless business payments that leverage digital technology.https://t.co/ARFvPgXNyu
— Paystand (@paystand) December 20, 2019
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