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.
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.
“Traders” that are hoping for $BTC to go to the 200MA level and think it will rally from there are either really dumb or are tricking you.
👉 Holding 100MA is crucial!!!!
👉 If price drops to the 200MA, means we lost momentum to the upside (Confirms Elliot C-Wave) https://t.co/PancTBUSfM
— 𝓥𝓮𝓵𝓿𝓮𝓽 📊丝绒 (@888Velvet) December 30, 2019
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.
Needs to break above $7800s and close above for me to feel bullish about a possible trend reversal
Until then, price continues to range with possible accumulation (over five weeks in this range)
So far, price possibly just made another lower-high today pic.twitter.com/R4uiHbwkfp
— Josh Rager 📈 (@Josh_Rager) December 30, 2019
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.
$BTC – Apparently they say the lows are in after a few weeks of consolidation…
Might want to zoom out a little, break the channel and reclaim 8k first. pic.twitter.com/0f2oTLx82T
— TraderXO (@TraderX0X0) December 30, 2019
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%.
2019 Commodity Returns:
Natural Gas: -24%
Fortnite Floss: -56%
— Brad Mills [Jan/3🔑] (@bradmillscan) December 28, 2019
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.
— Liquidity Index Bot (@LiquidityB) December 30, 2019
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.
Target acquired, now bounce. pic.twitter.com/SWrx7NF7lG
— Bagsy (@imBagsy) December 30, 2019
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.
Freebie from my alts page.
And that ladies and gentlemen may have been the bottom in ETH. May it be a happy and prosperous new year.🥳 pic.twitter.com/TJZW4SNbLe
— dave the wave (@davthewave) December 30, 2019
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.
Breakout and retest of that line with MAs support was the trigger.
Didn’t trade on Bitmex during the holidays, too bad, that was an easy one. pic.twitter.com/43NIR0XnHV
— Crypto Krillin ॐ (@LSDinmycoffee) December 30, 2019
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.
12월 그레이스케일 이더리움 클래식 신탁 기금(ETCG) 지속적 증가, 6개월 연속증가세!
— Ethereum Classic Korea(🇰🇷) (@ethclassic_kor) December 31, 2019
Tron is going to be listed on CoinField. The exchange launching a campaign with Tron Foundation and Tron CEO Justin Sun to officially welcome TRON.
Tron #TRX is going to be listed on @CoinFieldEX. We’re launching a campaign with @Tronfoundation and @justinsuntron to officially welcome #TRON to #CoinField. Stay tuned for the details and how you can participate in the airdrop! pic.twitter.com/mTrqS6Lf0S
— Bob Ras (@bobrasX) December 30, 2019
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.
After the successful private-beta test, we are opening the iOS beta to all of you!
— Binance.US (@BinanceAmerica) December 30, 2019
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.
[Huobi CTO To Leave The Company]
— Shahara Ambolodto Taligaba (@STaligaba) December 30, 2019
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 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.
Read #TomoX‘s solutions to challenges most Decentralized Exchanges are facing regarding performance & liquidity; See how TomoX differs from 0x (a DEX protocol aiming to solve the liquidity problem in DEXs) in speed, cost & ecosystem support. https://t.co/gjCK9bZ5en
— TomoChain (@TomoChainANN) December 30, 2019
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.
https://t.co/z9r4K8yi2X has ambitious plans for next year, aiming to boost user numbers and liquidity and make its tools more user-friendly. Learn more about what to expect in 2020 in the blog post below👉https://t.co/qQejizgpJT
— Waves.Exchange (@Waves_Exchange) December 30, 2019
U ° OS Network is going to launch the mainnet
The U ° 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 ° OS token.
The creators of the U ° OS protocol urged EOS block producers to participate in the development of U ° 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.
- Bitcoin Logo Appears In MV “Duyen Am” Of Vietnamese Supper Star Hoang Thuy Linh
- Perhaps Bitcoin Price Drops Are Not From PlusToken Cashouts, But Rather A Coincidence