Crypto Brief Dec.25: Bitcoin Stochastic RSI is flashing strong bullish signal plus Ripple, Ethereum, Monero, ChainLink, Binance, BitPay
From Bitcoin’s strong bullish signal to Binance supports a series of new trading pairs. These are some of the prominent news in the crypto space.
Full-time trader BitDealer recently drew attention to the historical price trends of Bitcoin before, on and after Christmas.
Traders noticed that throughout Bitcoin’s history, the price of the cryptocurrency increased by an average of 2.57% over the three days after Christmas, i.e. from December 26 to 28. With Bitcoin’s current price of $ 7,250, BTC can be traded at $ 7,450 on December 28.
Of course, this is just an average, although the positive post-Christmas trend seems to exist, according to analysis conducted by crypto exchange SFOX, No.1 performed better at the holiday time.
— ₿itDealer (@Bitdealer_) December 23, 2019
On Monday, a Bitcoin price gap opened in CME futures between $ 7,200 and $ 7,450 due to weekend fluctuations in the cryptocurrency market. The problem is, on Monday, Bitcoin was trading at $ 7,600, even as high as $ 7,700, leading some to speculate that the asset would leave this gap behind, possibly forever.
On Christmas Eve, the void was filled as BTC wobbled.
CME gap filled. pic.twitter.com/y9pzWjgi2b
— Hsaka (@HsakaTrades) December 24, 2019
Trader “The Wolf of All Streets” recently observed that the weekly Bitcoin chart has formed an extremely bullish signal: a large bullish divergence in the oversold territory of the Stochastic RSI.
This is the fourth time this signal has been seen since the ATH level of $ 20,000 was seen at the end of 2017. The first was before a rally of $ 6,400 to $ 9,900 in mid-2018, the second before the 330% increase in the price of Bitcoin seen from December 2018 to June 2019 and the third predicts a move from $ 7,400 and $ 10,400 took place just weeks ago.
(1) The weekly XBT chart confirmed the massive bullish divergence in oversold territory on Stochastic RSI. This is the fourth time that this has happened since the Bitcoin top. The first moved price from $6,400 to $9,900… pic.twitter.com/VpHArXdGzr
— The Wolf Of All Streets (@scottmelker) December 23, 2019
Searches “Bitcoin” reduced in 2019
On December 20, Yahoo financial expert Edmund Heaphy stated that “crypto searches fell 84% on Yahoo Search in 2019”. From there, based on “newly revealed Yahoo Search data,” he said the searches “Bitcoin” dropped 65% from last year.
In addition, data provider The Tie also noted institutional investors are losing interest in this technology.
Mentions of institutional interest in Bitcoin in news headlines have plummeted to a 2019 low after seeing significant growth throughout the summer.
Data from over 85,000 unique publication headlines collected since October 2017. pic.twitter.com/3JqHEpIAF8
— The TIE (@TheTIEIO) October 2, 2019
Ethereum co-founder Vitalik Buterin proposed a way to accelerate the transition from a proof of workflow to a proof of stake chain.
At Buterin’s proposal, validators who want to join the old Ethereum chain can register themselves as eth1 friendly validators. Anyone can register and self-cancel a subscription.
These validators can then propose “eth1-on-eth2” blocks, verifying [these blocks] as part of the committee will be required. Merge the two together will make the chain upgrade process a lot faster.
Binance has announced support for three trading pairs with the Turkish Lira (TRY) and a trading pair with the Russian Ruble (RUB). Accordingly, Binance will open trading for ETH/TRY, XRP/TRY, USDT/TRY and USDT/RUB trading pairs at 2019/12/25 8:00 AM (UTC).
Please note that TRY and RUB are national currencies and do not represent the ticker of other existing digital assets.
— Binance (@binance) December 25, 2019
Binance DEX added BNB/ETH trading pair
Binance added the BNB / ETH trading pair to the decentralized exchange (DEX), according to the company’s announcement on December 24.
The support follows an initial proposal posted on the Binance community website a week ago by CEO Changpeng Zhao.
The ETH BEP2 token will be issued on the Binance Chain, pegged and backed 1: 1 by ETH assets held in a publicly disclosed reserve address.
— Binance DEX (@Binance_DEX) December 24, 2019
Binance announced to support $ ETHBNT airdrop worth $ 1.6M
Binance will support an approximate $1,600,000 equivalent ETH/BNT airdrop for Bancor holders.
The exchange will take a snapshot of all BNT held by Binance users at the time of the first Ethereum block after January 1st, 2020 at 5:00 AM (UTC).
— Binance (@binance) December 24, 2019
Ripple CEO Brad Garlinghouse will be one of the key speakers at the 55th Global Forum, which will take place from 13 to 14 March in Singapore.
The event, organized by the Wharton School, the University of Pennsylvania’s business school, was founded with the help of American industrialist Joseph Wharton.
Garlinghouse will be the only representative of the cryptocurrency industry to join the Forum. The speakers also included representatives of JPMorgan, Mastercard as well as central banks.
Is IBM quietly exploring Ripple and XRP?
A LinkedIn profile is spreading among the Ripple and XRP communities.
IBM Solution Architect Viral Shah, who is based in Mumbai, seems to be working on a proof concept using RippleNet. According to his profile, he wrote that “performing POC on RippleNet Blockchain implementation for Bank. Interacting with various teams and clients to gather information and drive various solutions”.
IBM has yet to confirm that it will work directly with Ripple.
Trader “The Wolf Of All Streets” claimed that Chainlink (LINK), the star of 2019, is on the verge of ‘do-or-die’ as it continues to touch its parabolic curve.
The trader predicts that the price of the LINK can be reduced by more than 50% if the coin’s parabola is broken. Although such models can lead to unprecedented profits in a fairly short period of time, they can also lead to painful losses when things go south.
Parabola meme still intact – barely. If this breaks, expect at least a 40-50% drawdown, although more is technically likely. Parabolic movement is epic for gains, both long and short. pic.twitter.com/i9voDXrlOJ
— The Wolf Of All Streets (@scottmelker) December 24, 2019
Monero price has been revised since April 2018. It has reached the penultimate support zone at 0.06 sts. An incident below this level will likely bring it back to 0.004 sts.
During the period from November to December 12, Monero prices have made some effort to initiate an upward move and break out of the previous resistance. However, all fail, causing the price to fall and the prospect of price increases to dissipate.
Trader DonAlt stated that the price of XMR is in a downtrend and there is no sign of a reversal.
This is a clear lesson in patience.
You like the coin? Wait for signs of reversal.
Little reason to buy it in an obvious downtrend while it’s slow bleeding.
I’ve been waiting for more than a year and I’ll gladly wait for another if I have to. pic.twitter.com/rCjgR9TwJc
— DonAlt (@CryptoDonAlt) December 21, 2019
The American Cancer Society (ACS), a non-profit organization committed to funding cancer research, is now accepting bitcoin donations through BitPay.
Cancer affects people from all walks of life, so it is not surprising that ACS draws support from a large pool of donors, according to ACS CEO Brant Woodward.
Founded in 2011 as a bitcoin payment solution, BitPay said it has been handling more than $ 50 million in donations since 2017 with partners like the Tony Hawk Foundation and the American Red Cross.
During the same period, the average donation amount hovered around $ 10,000, according to BitPay’s statistics. BitPay processes donations at a fixed 1 percent fee, which can be selected by donors if they wish.
However, there are currently reports that BitPay has stopped supporting Bitcoin.
— Nano Bank (@NanoBank) December 24, 2019
Youtube is purging crypto-related videos
Ran NeuNer, the host of CNBC’s Crypto Trader, is pondering the controversy surrounding YouTube’s recent actions against cryptocurrency content creators.
YouTube deleting all Crypto content is a MASSIVE blow to the industry. YouTube is the go to place for educational video and the first port of call for new people entering the eco system to learn the basics. As a community we should challenge this formally.
— Ran NeuNer (@cryptomanran) December 25, 2019
YouTube said it is investigating the cryptocurrency smackdown to try to determine exactly what is going on. The video-sharing giant hopes to have an update on the situation soon.
Many creators are using Twitter to spread, confirming that their videos related to BTC, ETH, and XRP have been removed because of harmful or dangerous content.
Due to the .@YouTube censorship of crypto content, I’ve put all my videos as “private” for the time being. I’m forced to do this because if the Youtube algorithm tags more public videos, it’ll mean the deletion of my channel. pic.twitter.com/TAbX8OPfEO
— Boxmining (@boxmining) December 25, 2019
The community on Bitcointalk is also excitedly discussing YouTube’s unexpected action.
User “Sadlife” wrote:
“It looks like some entity, people or organization are trying to suppress bitcoins or crypto’s growth or just maybe bitcoin. I heard about this also it happened to a popular Youtuber and crypto influencer a while ago it was “alessio rastani” he said that some people might be trying to prevent crypto news to come out, he said they may know something that others don’t but this is only a conspiracy theory, but in my opinion I guess someone is hurting in bitcoin’s growth”.
Meanwhile, user christian07 stated:
“Youtube ban this because of the negative things about cryptocurrency like the scam or hack so they aware that they do promote or spread this in some ways like every time will see their youtube videos related with cryptocurrency then also some country do not like crypto they ban this so it possible that users can still see some cryptocurrency in youtube videos”.
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