Crypto Brief Dec.22: Bitcoin price likely head under $6k plus Ripple, Ethereum, Tron, Cardano, Tezos, Litecoin, Stellar, Binance Coin, MINDOL news
From Bitcoin’s bearish outlook before ending year to MINDOL anime token’s wild 2800% increase. These are some of the prominent news in the crypto space.
Bitcoin price is trading in a bearish pattern but has shown signs of bullish momentum. The direction of the next movement can determine the direction of the following long-term trend of BTC.
On December 18, the BTC price initiated a move that increased very quickly by 15%. On the same day, Bakkt posted impressive volumes, breaking the previous all-time high. However, not everyone is convinced of the potential increase in Bitcoin.
Trader Josh Rager recently noted that it’s too early to be happy after Bitcoin’s $ 1,000 upward. BTC is still stuck under the trend line formed after the infamous Xi Jinping pump in October. If its price fails to break this level and the $ 8,000 resistance, there will not be a reversal rally.
Feeling bullish after that $1k move? Zoom out and you’ll see price is still very much in a downtrend
Needs to break/hold above $7950/$8k for any talk of a potential reversal
Break previous low and likely head under $6k where $5,300 area is a promising place for buyers pic.twitter.com/Xhyekb5Yq8
— Josh Rager 📈 (@Josh_Rager) December 21, 2019
Trader James stated that Bitcoin price could be forming a descending triangle similar to that created in 2018, appearing before the price collapse to the bottom of $ 3,400.
This is a STRETCH but wouldn’t shock me at all. pic.twitter.com/TeT08FtTti
— James (@coinzada) December 20, 2019
Bitcoin still overtook Trump, VISA, PayPal, and Libra
2019 is a slow year for bitcoin. It has nearly doubled 2x since January but is in danger of ending the year with a 50% reduction from the annual high. Even so, it managed to surpass Donald Trump, VISA, PayPal, and Libra on Google Trends at the peak of the year.
Source: Google Trends
Bitcoin could reach $ 141k in the next bull market
The upcoming Bitcoin parabolic rally can cost as high as $ 141k, based on logarithmic band analysis but may take some time to test for different levels of support.
Benjamin Cowen’s analysis is based on the view of BTC performance so far, especially regarding the halving event.
The PlusToken scam has been continuously selling its stolen Bitcoin (BTC) on the market for months now. However, an analyst believes that the Ponzi is similar to another leading cryptocurrency project: Ripple, which has unlocked a massive 1B XRP per month.
According to Alistair Milne, Ripple controls a disproportionate amount of XRP in traffic and dumps the price slowly, making HODL’ers miserable.
Imagine PlusToken having the majority of Bitcoin in their wallet, constantly dumping it slowly on HODL’ers.
I’ve just described Ripple.
…who have just raised $200million for ~2% of their ‘business’
— Alistair Milne (@alistairmilne) December 20, 2019
Many analysts are anxious about the future of XRP.
According to trader Jacob Canfield, the XRP / BTC pair has just lost the support of the simple moving average for 20 weeks after trying to keep it as support for weeks. This makes the pair with much lower potential.
A lot of people focus on XRPUSD, but XRPBTC just recently broke the weekly 20MA. It tried to hold it, but failed to this week.
A key pivot level for $XRP on the weekly is the 2350 zone.
If this breaks and closes, I would look for potential support much lower. pic.twitter.com/j4di1ObHTy
— Jacob Canfield (@JacobCanfield) December 20, 2019
Ripple is the second most valuable company in cryptocurrency
Ripple is currently the second most valuable company in cryptocurrencies, behind only bitcoin mining giant Bitmain, according to cryptocurrency research firm Messari.
Ripple raised $ 200 million in Series C led by global investment firm Tetragon. San Francisco-based payment startup is currently valued at $ 10 billion.
The fund will help fund Ripple’s worldwide expansion. The company now has 49 job opportunities at global offices, including in São Paulo, London, and Dubai.
Litecoin and Stellar News
Litecoin creator Charlie Lee said Stellar, the 12th largest cryptocurrency asset by market capitalization, could be a security.
In a new episode of Magical Crypto Friends, Lee made an unexpected comment about the destruction of 55 billion XLM of the Stellar Development Fund (SDF) after SDF burned XLM because it no longer needed money to continue building the coin.
When asked if this move will make XLM more closely related to security, Lee said that “I think so.”
Binance Coin News
The Binance Coin price has been corrected in a bullish pattern since reaching a high of $ 41 on June 21. There is a significant support area at $ 10, which can push the price to a breakout level.
Despite a string of recent positive news from Binance, prices have fallen by 40% in the past two months.
Trader “Nika” claims that this correction is coming to an end as it has created a tapering wedge lasting six months. Wedges are considered a bullish pattern, suggesting that a breakout should follow.
— Nika❄️ (@G_maker) December 19, 2019
After CryptoKitties, Unstoppable Domains on the Ethereum blockchain have witnessed the most active activity on the network. Following the launch of the .crypto registry for blockchain domains, it has reached the top of the most active Dapps on Ethereum.
.crypto domains are live today. Create censorship-resistant websites & replace your wallet addy with a readable name on partner wallets like @Trustwalletapp.
— The Crypto Dog📈 (@TheCryptoDog) December 19, 2019
Event “IstanBlock” releases limited early bird tickets
IstanBlock 2020, Turkey’s exclusive blockchain event, launched early bird ticket sales yesterday, amid massive excitement across the region.
IstanBlock 2020 takes place from April 9-10 and will be the leading event of the Istanbul Blockchain Week, taking place from April 6-10.
The excitement culminated with more than 2,000 expected attendees at Istanbul’s prestigious Hilton Bomonti to connect, enjoy top quality speakers, and listen to influential people from the blockchain and cryptocurrency world.
— Istanbul Blockchain Week (@IstanbulBlockWk) December 20, 2019
Charles Hoskinson, the creator of Cardano, said that there is no need to believe in the promise of cryptocurrencies and new systems applied by blockchain technology through him or any other individual. Every panicked person will make mistakes, manipulation, and death.
In an AMA session recorded earlier this month, Hoskinson explained why he believed that code was superior to humans and why systems were built on code.
The Mindol project was launched to promote Japanese manga culture.
MIN is said to be a festival-related property, which can flow between participants, content creators, and fans.
The price of MINDOL has increased by 2,800% in the past few months, a spectacular increase. Before dropping to 201, MIN climbed to 12th place on Coinmarketcap.
— XRP_SK (@sk_xrp) December 20, 2019
Tezos has achieved many remarkable achievements in 2019. The Tezos Foundation has published an update, covering this year’s milestones, including over 430 bakers securing the Tezos network, more than 1,300 Tezos developers trained, three new Tezos smart contract languages introducing six new syntax varieties and a lot more.
Besides, Tezos Foundation is also updating the mission over the next six months.
Tezos: 1,338 Developers Trained in 2019, Tezos in Top-10, Improved Reward Formula, A Year In Review, Ledger Live, Introducing LabNet / Biweekly update 7th December — 21st December from r/Paradigm_fund
Tron developers are experimenting with new security features that aim to conceal sender and receiver addresses, transaction amounts, and transaction inputs/outputs.
CEO Justin Sun said existing tokens like TRX, BTT, and WIN would not be able to incorporate this feature, and their transaction ledgers will continue to be made public.
(1/3) Great to see that #TRON community developers have released the privacy feature that is the key to shielded transactions and layer-2 extension, which has entered testnet.
— Justin Sun (@justinsuntron) December 21, 2019
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