Crypto Brief Dec.31: Bitcoin is risk of plummeting to $ 1,000 plus Ripple, XTZ, BCH, ETC, ETH, TRX, Binance, CoinRoutes, Tomochain, Huobi, WaveExchange

From Bitcoin’s deepening risk to BinanceUS launched the public iOS beta. These are some of the prominent news in the crypto space.

Crypto brief Dec.31

Bitcoin News

According to trader Velvet, Bitcoin needs to maintain the 100-week moving average, currently at around $ 7,000. If this level is lost on a macro basis and drops to $ 5,000 levels, it will confirm that the bulls have lost momentum, confirming a C Elliot wave will push the asset back to $ 1,000.

Bitcoin is trading at $ 7,260, marking a slight retreat from the daily high above the $ 7,500 that was established yesterday.

Bitcoin buyers have tried many times over the past several days and weeks to create bullish momentum in the mid- and upper-$ 7000.

In the short term, analysts found yesterday’s quick rally to simply mark lower high, and that crypto will not be able to generate any sustained momentum until it breaks above $ 7,800.

Analyst Josh Rager talked about this in a recent tweet, noting that this current price action could simply mark a period of accumulation.

While $ 7,800 may be a major level that speculators need to push Bitcoin higher in the near term, it’s important to note that the cryptocurrency is still stuck in a descending channel, which will keep BTC in a strong downtrend until the bulls push it above the upper channel boundary.

TraderXO said that the bottom likely doesn’t exist until this upper boundary is broken firmly above.

Bitcoin’s returns surpassed all other commodities in 2019

Bitcoin’s profits in 2019 are higher than all other commodities, it brings almost double profits compared to the 2nd commodity on the list.

10 items with the most outstanding performance in 2019 include: Bitcoin: + 100%, Paladi: + 57%, Petrol: + 34%, Coffee: + 30%, Lumber: + 27%, Platinum: + 19%, Gold: + 18%, Silver: + 15%, Sugar: + 13% and Wheat: + 11%.

Rippleย  News

After cooling off this month, the XRP liquidity index recorded an all-time high on Mexico’s Bitso exchange. The volume of the third-largest cryptocurrency against the Mexican peso reached 10,071,247 XRP.

Tezos News

Tezos may be completing the A-B-C adjustment. The price has almost finished the wave A and may continue to rise rapidly and fall for a long time.

Prices started correcting on December 13, when XTZ reached a high of 2550 satoshi. Coin has dropped by nearly 30% since then.

Bagsy analyst said the price is close to the support area of 1700 satoshis and also the Fib 0.5 level of the whole move up. Once there, there is expected to be a jump in the price.

Ethereum News

According to analyst Dave the Wave, Ethereum may have just bottomed out in price against the US dollar.

He noted that ETH recently escaped the Fib 0.786 retracement of the price action from the 2018 bottom to the 2019 bottom, while the MACD has shown signs of reversal on a medium-term basis, good for the bulls.

Bitcoin Cash News

Bitcoin Cash has likely bottomed out. The current upturn could resume if the price breaks out of the trading range that has occurred for about 175 days.

Since July, BCH has started to consolidate and trade in the range of 0.026 to 0.033 BTC.
Crypto analyst Krillin stated that the price of BCH has begun to rise and a breakout of 0.03 sts will end the downtrend. He believes that a move above the 50 and 100-day moving average (MA) acts as a catalyst.

Ethereum Classic News

Grayscale Ethereum Classic Trust Fund (ETCG) continues to grow in December for six months in a row! According to the Grayscale Investment homepage, ETCG’s assets amounted to approximately $ 46.6 million as of December 30. ETCG’s fund totals 9,977,400 shares or $ 0.92253186 per share.

Tron News

Tronย is going to be listed on CoinField. The exchange launching a campaign with Tron Foundation and Tron CEO Justin Sun to officially welcome TRON.

Binance News

Binance.US has officially opened a public iOS beta test for all users.

The exchange said the private beta was successful and invited all its customers to participate in the public beta version of iOS. The private beta testing phase began on December 18, giving Binance.US the opportunity to address possible bugs and before making the application available to more audiences.

Huobi News

Xianfeng Cheng (or Mars Cheng), CTO of Huobi, will leave the company in February 2020 after four years of working, according to a Huobi spokesman.

Cheng joined Huobi Global in February 2016. Prior to joining Huobi, he was chief executive at the Chinese IT company OneAPM and lending platform Jimubox.

It’s still not clear why Cheng left Huobi.

CoinRoutes News

CoinRoutes, a New York-based trading software provider, said the company traded more than $ 1 billion in digital assets during 2019.

The company has processed more than 21,000 unique orders on more than 120 cryptocurrency pairs on behalf of its customers since the beginning of the year. Besides, it shipped over 500,000 orders to 18 different cryptocurrency markets in the same year.

TomoChain News

TomoChain has just published a report comparing the differences between the TomoX and Ox protocols (the protocol of decentralized exchanges to solve liquidity problems). Accordingly, TomoX solutions are somewhat more outstanding in performance and liquidity than DEX’s Ox protocol.

Wave.Exchange News

Waves.Exchange has an ambitious plan for next year, which aims to increase the number of users, the liquidity and make its tools more user-friendly.

Accordingly, the Exchange will release a major update The Big Split in Q1 2020. Besides, the exchange will also launch the “Stake It” feature in late Q1 or early Q2.

Other News

U ยฐ OS Network is going to launch the mainnet

The U ยฐ OS Network development team claimed it is ready to launch the mainnet. This also means that the development team is also starting to distribute the U ยฐ OS token.

The creators of the U ยฐ OS protocol urged EOS block producers to participate in the development of U ยฐ OS by voting on the Delegated-Proof-Of-Importance consensus.

Top 15 Blockchains platforms have the highest number of daily active addresses in November and December

Bitcoin is still the leader. ETC has returned to second place to surpass Ethereum. Digibyte lost 11th place, to 13th place this month and daily active addresses have dropped by 98%.

In December, Tezos made the list, ranking 14th with an average of about 5,957 active addresses in December and outperforming Ripple and Cardano (Cardano ranked 16th and not appearing in the picture).

Overall, 9 of the 15 analyzed platforms saw a decrease in the number of daily active addresses in December.

Bitcoin scammers threaten to disconnect the victim’s power supply

The customer of Toronto Hydro, one of Canada’s largest electricity companies, has been harassed with phishing calls. The crooks threaten to cut off the victim’s electricity supply unless the victim pays with Bitcoin for them.

Toronto Hydro warns its customers that they will never disconnect power and if they intend to do so, they will contact a customer through “multiple channels”.

Moreover, the company emphasized that they do not accept Bitcoin payments. Despite the fact that paying with cryptocurrency is easy to track, but it is often impossible to identify who is behind them, which makes cryptocurrencies particularly attractive to criminals.

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