Crypto Brief Dec.26: Bitcoin is in danger of falling to $ 5000 plus Ripple, ETH, BCH, IDEX, NEXT, Bithumb, CZZ, BitMax, TOKO, KuCoin, Binance news

From the risk of Bitcoin’s sharp decline to Youtube blocked Buterin’s Ethereum roadmap introduction video in 2016. These are some of the prominent news in the crypto space.

Crypto Brief Dec.26

Bitcoin News

The consolidation for the whole of December continued as Bitcoin sustained key support levels. However, according to an analyst, if there is a bearish move similar to the previous ones, the price could soon drop to $ 5,000.

Bitcoin has remained in the range of $ 7000 – $ 7200 for a month now, but technical signals are beginning to show signs of another major movement.

Analyst CryptoHamster has observed that the Bollinger bands seem to be squeezed again. As usual, this is a sign of a big move, but the overall trend is still down.

However, Crypto Michaël posted a chart showing how the BTC price has emerged since the beginning of the uptrend in 2016.

Sharing details about the Golden pocket ratio of 0.618-0.65 Fib, he pointed out that the trend continues to increase in the long term.

After trading sideways since November 25, Bitcoin reached $ 7,335 on December 19, then peaked at $ 7,614 on December 23 last week and has now returned to $ 7,276. Trader ‘Rampage’ is making jokes, suggesting that someone in the community asked Santa to trade BTC in this way.

Bitcoin’s supply increased on exchanges

Bitcoin’s market reflected signs of recovery in the past week, after having worn out for most of December. Although the BTC market cap is still down, its estimated hash rate has increased by more than 10%.

Bitfinex marked a sharp increase in BTC supply last month, although its price was very low. The exchange held 204,150 BTC on December 22, an increase of nearly 30% compared to previously recorded data.

Crypto Brief Dec.26 BTC 1

Source: Coin Metrics

Similarly, BitMEX’s BTC supply also recorded an increase in the last month, despite the scandal of customer email leaks. However, the supply of BTC increased from 246,937 to 255,741, close to its all-time high.

Source: Coin Metrics

Bitcoin ROI overwhelmingly more than mainstream assets

Bitcoin is the best performing investments of the decade (2010-2019), with the ROI 62450%. BTC entered once publicly traded on Coinbase in 2012, and for now, BTC outperformed Ethereum in second place with the ROI 17911% and overwhelmingly more than mainstream assets.

Craig Wright: Bitcoin price isn’t going to $20,000 or $100,000

The self-proclaimed Satoshi Craig Wright predicts that the leading cryptocurrency will not continue to increase in value during his Christmas interview.

Famous cryptocurrency baron John McAfee announced that Bitcoin would skyrocket to $ 1 million on December 31, 2020. However, Wright found such a forecast to be ridiculous, claiming that there was not enough global money to push the Bitcoin price up.

Wright has linked Tether with previous Bitcoin rallies while predicting that BTC will not increase without the leading stablecoin pumping price for it.

The influence of the US President on the Bitcoin price

Analyst Alex Krüger has released two charts showing the volatility of the BTC price following statements from two US presidents.

On March 3, 2009, former President Barack Obama declared that “What you’re now seeing is profit and earning ratios are starting to get to the point where buying stocks is a potentially good deal if you’ve got a long-term perspective on it.” The former President issued the announcement a week before Bitcoin bottomed in the same year.

Nearly ten years later, on December 25, 2018, President Donald J. Trump said, “We have companies, the greatest in the world, and they’re doing well. They have record kinds of numbers. So I think It’s a tremendous opportunity to buy. A great opportunity to buy”. And as can be seen in the chart below, Mr. Trump’s statement also caused Bitcoin price to bottom out and enter the notorious bear market.

The user “Million $ Mailman” disagreed with the opinion of the analyst. In his view, the President’s statement is not significant; the collapse of BTC price is due to “Fed Manipulation” has changed the course of history, and those aware of the powerful consequences of the Fed action were the benefactors.

Google Scholar has about 14k articles covering Bitcoin

According to the online scholarly search site Google Scholar, run by Google, as of 2019, there are nearly 14,000 articles mentioning bitcoin.

That number has increased by about 19.13% compared to last year, reflecting the growing interest in Bitcoin worldwide.

Ethereum News

A cryptocurrency blogger on YouTube Christian Peel shared that one of the banned crypto-related videos on his channel was about Ethereum.
In it, co-founder Vitalik Buterin conducted a question and answered session at Coinbase in 2016 and talked about the Ethereum roadmap.

A screenshot of the message stating that this video contains ‘malicious and dangerous content.’

Vitalik Buterin expressed his confusing message, saying it was strange to ban an ethereum 2016 video.

Analyst Scott Melker disagrees with the alarm that the cryptocurrency community has been ringing:

“It is highly enforced youtube is knowingly targeting crypto accounts or censoring the community.”

A legal expert Jake Chervinsky agreed with Scott, said that those YouTubers could violate the Securities Act § 17 (b), the “anti-touting” provision. However, this statement does not seem appropriate in the case of Buterin.

Bitcoin Cash News

Over the past few months, the price performance of Bitcoin Cash (BCH) has been nothing but catastrophic. This culminated in Bitcoin Cash, reaching an all-time low against Bitcoin (0.0256 sts) on December 25.

BCH has dropped to new lows just five days after Ver predicted that it would be able to surpass BTC’s market capitalization.

Crypto Brief Dec.26 BCH 1

Source: Trading view

Binance News

Binance CEO Changpeng Zhao has revealed that the exchange’s development department has released a set of application programming interfaces (APIs) to lend cryptocurrencies. The code and instructions have been uploaded to the official GitHub repository.

Meanwhile, Binance.US were currently available on Android for App BETA Testing.

Ripple News

MoneyGram CEO, the Texas-based money transfer giant, said the company is working hard to optimize and perfect the use of XRP as a tool to transfer money across borders.

MoneyGram partnered with Ripple and started using XRP ODL-based payment solution last summer. In a new interview on First Move, CEO Alexander Holmes said blockchain technology could transform the cross-border payment industry.

KuCoin News

KuCoin will be performing system upgrade for Market System at 14:00 on Jan 2, 2020 (UTC+8). The upgrade will take about 3 hours to complete. Market instability may occur during maintenance.

A zero-interest borrowing activity

KuCoin will launch a zero-interest borrowing activity from Dec 25 to 29, 2019. A total of 1,000,000 USDT and 80 BTC will be lent with zero interest during the activity.

Bithumb and CZZ News

Bithumb Global will list Classzz digital asset service with CZZ/USDT trading pair on the GEM board.

  • Deposits will be available on Dec 30th, 2019 at 15:00(UTC+8)
  • Trading will be available on Dec 31th, 2019 at 17:00(UTC+8)

BitMax and TOKO News

BitMax.io will list Tokoin (TOKO) under the trading pairs of TOKO/USDT.

  • Deposit & Withdrawal started at 10:00 p.m. EST on Dec 25th, 2019.
  • Trading will start at 10:00 a.m. EST on Dec 27th, 2019.

To celebrate listing of TOKO, BitMax.io will launch three promotional events: Airdrop, Net-Buy Contest & BitTreasure with a chance to share 620,000 TOKO reward (equivalent to around 50,000 USDT).

IDEX and NEXT News

IDEX announces that NEXT will be de-listed on December 31, 2019, due to an upcoming token swap.

NEXT holders will be required to swap their NEXT Tokens (ERC-20) for NEXT Coins that will act as the native currency on the NEXT blockchain (NEXT.chain) and unlock utility on NEXT.exchange.

Other News

Somali Central Bank ordered the closure of accounts related to FX brokers

The central bank ordered commercial banks in Somalia to close some foreign exchange-related accounts without explanation. Local media stated that any decision was by Somalia Central Bank’s previous warnings about foreign exchange transactions.

The central bank said it would monitor the accounts being used for foreign exchange brokerage services and may impose restrictions, including closing accounts.

The Central Bank issued a directive on October 28 after a board meeting. The instruction takes effect.

The IRS is investigating how people interact with crypto

The IRS is asking everyone if they have associated with virtual currency in any way for 2019 tax return. Is this the first step towards broader persecution of Bitcoiners in the coming years?

The IRS is asking everyone if they have interacted with virtual currency in any way for 2019 tax return… Is this the first step towards wider persecution of bitcoiners in the coming years? Are they trying to add us all to a database before the clampdown? from r/Bitcoin

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