Crypto Brief Dec.23: Bitcoin will enter 2020 with a bullish note plus Ripple, ETH, BCH, BTT, ADA, DGB, VET, Binance, KuCoin, Bitrue news
From Bitcoin’s aggressive new year beginning to Bitrue added 27 new XRP pairs. These are some of the prominent news in the crypto space.
Today, Bitcoin became the focus when the price broke above $ 7600, as AZCoin News reported. BTC also witnessed a set of factors suggesting that 2020 could start with a bullish note.
Cryptocurrency traders and analysts have started to raise the price when support and resistance are tested again.
According to Crypto Michael, Bitcoin currently faces a new resistance at $ 7,800, with the potential of retesting $ 8,000.
Green zone held for support here, which is the range low.
Currently at potential local resistance. Wouldn’t be surprised with continuation of ranging for the coming days, before we make another push to $7,800-8,000 resistances later next week.
All in all, good. pic.twitter.com/vyumXpruOh
— Crypto Michaël (@CryptoMichNL) December 22, 2019
Josh Rager also expected the price to rally higher once monthly resistance is tapped.
IMO shorting $7400s was a crowded trade
Everyone talking about it
I’m looking to short but higher
Price currently breaking through monthly open and 0.786 fib of this range
Price could fall here but I think it pushes higher pic.twitter.com/snTMJtMXCf
— Josh Rager ? (@Josh_Rager) December 23, 2019
BTC currently faces another phase of pressure in both directions, potentially sparking other short battles and new heights.
The only thing keeping me for going net short
Is this damn fractal!
The similarities are stunning #BTC pic.twitter.com/6AZQMivbFD
— CryptoRekt.io (@CryptoRektio) December 23, 2019
Open interest and immediate volume witnessed growth in most cryptocurrency exchanges. Bakkt futures also rose as the Bitcoin price began to change positions.
ICYMI: this week’s summary of Bakkt Bitcoin Monthly Futures:
? Total volume: $110 million (+46%)
? Max open interest: $7.0 million (+11%)@Bottlepay this bot a coffee: https://t.co/MJaZ58oPiu ? pic.twitter.com/wa7gMs4hLN
— Bakkt Volume Bot (@BakktBot) December 22, 2019
Tone Vays: Predicting Bitcoin price to reach $ 250k by 2023 is irresponsible
One of the most prominent Bitcoin price predictions comes from Tim Draper, one of the most famous venture capitalists in the Silico Valley. Draper, for over a year now, has said that the BTC price will easily reach $ 250,000 – 3,400% higher than the current price – by the end of 2022 or early 2023.
However, Tone Vays, a former Wall Street trader who became a cryptocurrency analyst, said the prediction was quite irresponsible. Vays was ironic that he believed Bitcoin would reach $ 50,000 by 2023 much more responsible.
Market analyst @ToneVays predicts Bitcoin reaching $50K by 2023, while calling out @TimDraper‘s “ridiculous” price predictions for being “grossly irresponsible.”
WATCH: https://t.co/KwN67AVRZ2 pic.twitter.com/iXVvYzVwWB
— BLOCKTV (@BLOCKTVnews) December 22, 2019
Bitcoin Cash News
BCHD and Openbazaar developer Tyler Smith has published the first draft specifications for a protocol called Snowlolobe. His Github repository states that Snowglobe is a propagating protocol for nodes using Nakamoto Consensus.
Smith is well known for his contributions to the Bitcoin Cash full node BCHD codebase.
After publishing the Snowglobe document, Smith asked the developers to freely give constructive feedback or contact him through Avalanche or BCHD Slack channels.
First draft of the Snowglobe spec is available for review: https://t.co/NUmBLGEaxk. Feel free to give constructive feedback via the issues on that repo, in the Avalanche Telegram channel, or in #avalanche in the bchd Slack.
— Tyler Smith (@tcrypt25519) December 20, 2019
Charles Hoskinson, CEO of IOHK, the company behind Cardano, said the Shelley incentivized testnet, made a big push.
According to PoolTool, people are now making a 7.5 billion ADA deposit, worth around $ 256 million, at the time of writing.
Charles said he was surprised by this result because when planning this, his team targeted 25 – 50 independent stake pools beyond the Emurgo, IOHK and CF [Cardano Foundation] infrastructure. There are currently about 340 registered and have passed the 100 saturation point.
Singapore-based cryptocurrency exchange Bitrue has announced a small Christmas gift for the XRP community: 27 new XRP pairs.
Of the 27 new trading pairs, 14 will be released on December 25, with deposits/withdrawals for these 14 new cryptocurrencies that will be available on December 23. For the remaining currencies/tokens, deposits/withdrawals will be enabled on January 9 and the transaction will be live on January 13.
List of cryptocurrencies paired with XRP. Source: Bitrue
Although the last week has been a strain for the entire VeChain team, this is also one of the most rewarding experiences for the team.
Public disclosure of the acquisition address breakdown including the latest updates, next steps, and internal management decisions has been released.
A Public Disclosure of the buyback address incident including latest updates, next steps, and the internal management decision.https://t.co/FfIvxCKcW4
— VeChain Foundation (@vechainofficial) December 22, 2019
KuCoin has completed the MainNet token swap of Travala.com (AVA), and the deposit and withdrawal functions are now open. AVA has been swapped to AVA (Bep2). Users can deposit NEP5 AVA to NEO address, Kucoin supports the swap automatically converting all users AVA (Nep5) to AVA (Bep2) on a 1:1 ratio.
#KuCoin has completed the MainNet token swap of https://t.co/63iRkJF63u (AVA), and the deposit and withdrawal functions are now open.
Read more➡️https://t.co/K6L676mtkV pic.twitter.com/KhMIgpW9u2
— KUCOIN (@kucoincom) December 23, 2019
KuCoin added margin trading for KCS with 10x leverage
KuCoin has announced that they will add KCS as the platform’s latest margin asset, supporting KCS / USDT trading pairs with leverage up to 10 times.
Margin is a popular feature of KuCoin. Prior to KCS, KuCoin margin trading supported Bitcoin, Ethereum, Ripple, Tether, EOS, and Litecoin on 12 asset pairs at the end of October.
DigiByte is a highly decentralized, fast-growing, and public blockchain and is the longest UXTO blockchain worldwide. As the first major blockchain to deploy Segregated Witness (SegWit), as well as having overcome various scalability issues, DigiByte has expanded to 10M blocks.
Today #DigiByte, the longest UTXO #Blockchain, has produced it’s 10.000.000th block, and still counting. DigiByte keeps growing. pic.twitter.com/nxyf3pyNiF
— DigiByte (@DigiByteCoin) December 22, 2019
Staking seems to have become popular in the crypto industry. Binance launched Binance Stakes in September.
Recently, Binance Research revealed an estimated annual output for staking assets, in which Kava is leading the rankings with its expected annual output of 14-16%.
Expected annual yields for staking assets vary greatly, from 1% to 16%. Will 2020 be the year of #Staking?
Find more by reading our report about the Rise of Staking. https://t.co/Zp01WeGGsF pic.twitter.com/5qfASkoKfh
— Binance Research (@BinanceResearch) December 22, 2019
Exim Bank, the leading bank for compliance and operations in Euro, is revealing new details about the company’s use of Ripple and XRP.
In an interview with The Silicon Review, Graham Bright, Euro Exim Bank Limited Head of Compliance and Operations, confirmed Euro Exim’s use of XRP for cross-border payments. He also said the company is also using Ripple’s payment messaging system to send Swift messages.
XRP price’s positive outlook
Trader XRPJoker said the price of XRP is performing similarly to December 2017, before XRP reached an all-time high of nearly $ 4. He suggested the community not to miss the opportunity to reserve XRP while its price is still cheap.
#XRP price is fluctuating similar to that of Dec 2017 all time high. Watch closely, the nature of #Xrp price movement is changing. Take advantage of the current fire sale, we may never see lows like this again. Regret nothing? #xrparmy #xrpthestandard #xrpcommmunity #XRPBTC
— XRPJoker? (@joker_xrp) December 20, 2019
Meanwhile, trader CryptøManiac101 says that he expects a bullish breakout on the XRP / BTC trading pair.
XRP / BTC – BULLISH BREAKOUT TO FOLLOW SHORTLY – CryptoManiac101 – #XRPBTC chart https://t.co/4oc4KULa3Z
— CryptøManiac101 (NOT GIVING AWAY CRYPTO) (@_Crypto_Maniac_) December 21, 2019
BitTorrent is giving away 7 Million $BTT to welcome 2020 to BitTorrent community, including a special big prize for this Christmas. The program starts from 12:00 AM on December 23, 2019, to 11:59 PM on January 1, 2020.
#BitTorrent 2020 New Year Event?#BitTorrent is giving away 7 Million $BTT to welcome 2020 with you!
⏰12:00 AM, Dec 23th-11:59 PM, Jan 1st SGT
Rule: https://t.co/Br4MdClPVH pic.twitter.com/VHmmnZz0yg
— BitTorrent Inc. (@BitTorrent) December 23, 2019
The Ethereum network will be scheduled to be upgraded at block number 9.2 million, which is expected to occur on Wednesday, January 1, 2020. The exact date may vary due to the time of the block and time zone.
Ethereum announced on a blog post that users to upgrade their nodes before Wednesday, December 30, 2019, to calculate the variable block times.
[IMPORTANT] Upgrade your nodes for the Muir Glacier upgrade happening on Jan. 1, 2020! See more here: https://t.co/hJRTHY9Gj1
— Ethereum (@ethereum) December 23, 2019
Competitor of Ethereum 2.0
Lucas Nuzzi, Director of Technologies Research at Digital Assets Research (DAR), described an unexpected competitor of Ethereum 2.0.
Instead of another smart contract platform, Nuzzi proposed that a fork like Ethereum 1.0 of the Ethereum network would be the most dangerous competitor for Ethereum 2.0.
People preach ETH2 as if its main competitors were all other smart contract platforms.
In reality, the most likely ETH2 competitor will be the inevitable Ethereum fork that retains PoW, rejects its leadership, and optimizes layer 1 for solutions like Aztek, Zk Sync, StarkDEX..
— Lucas Nuzzi (@LucasNuzzi) December 20, 2019
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