Crypto Brief Jan.01: Bitcoin price may be red in 2020 plus XRP, ETH, TRX, IOTA, Waves, TomoChain, OKCoin, Binance, Poloniex, BitMEX

From the gloomy 2020 forecast for Bitcoin to Changelly officially listed TomoChain. These are some of the prominent news in the crypto space.

Crypto Brief Jan.1

Bitcoin News

After rising to $ 7,500 and being rejected, BTC was caught in a strong downtrend, pushing the price to the key support zone of around $ 7,000. This latest rejection came just after the one from the previous week, when BTC rose to a high above $ 7,500 before facing insurmountable resistance, causing a downtrend.

Crucially, Bitcoin’s bulls have made a lot of effort over the past few weeks, and each time led to a strong denial and was quickly pushed back to the $ 7,000 area.

Analyst HornHairs explained that the buying pressure that cryptocurrencies have found could soon boost momentum.

Another analyst Cantering Clark explained that active and passive sellers are not currently working closely, which means that the short will fall if the BTC bulls insist on defending this level.

Bitcoin may be red in 2020

Bitcoin price charts can be viewed across multiple time frames, the most significant of which is the largest and longest.

Cryptocurrency traders and analysts often pay special attention to daily, weekly or monthly price charts to better capture the market and the ongoing trend.

Analyst TraderKoz shared an annual Bitcoin price chart and speculated what the annual close candle meant for crypto-assets and what to expect for the new year.

The green candle shows a failed rally in the form of a large wick stops at the previous yearly resistance level. The wick is also the largest ever recorded in Bitcoin’s price on the annual candle since the highest level in 2017 ranges from $ 6,000 from the top of the wick to near the body of the candle, this year from the current price of $ 7,250 to $ 14,000 – the equivalent of a $ 6,750 long wick.

Trader Jamie Holmes responded that because 2019’s candle is closed below 50% of 2017’s candle, the annual close of 2020 is expected to be red.

Ethereum News

Ethereum is trading at $ 128, marking a notable drop from the daily high of nearly $ 140. In the short term, Ethereum has performed worse than Bitcoin, as it is currently trading more than 1% less than BTC.

Despite this short-term decline, the case of ETH’s rally is still strong. Scott Melker explained that he predicts Ethereum will outperform Bitcoin in the coming days.

Analyst HornHairs has the same opinion, explained that he believes ETH could see a rebound in the near future after it swept the lows.

XRP News

XRP has not performed so well in the past 12 months, down 47% from January 1, 2019.

While the trend to focus on Bitcoin in the cryptocurrency market will continue due to institutional participation and market cycles, senior analyst Mati Greenspan said that the long-term trajectory of XRP is positive.

Waves News

Waves may be in the fifth and final wave of the medium-term uptrend. However, it is likely in the main stage of a long-term uptrend.

Its price started its uptrend on December 11. After breaking out of the initial resistance on December 17, the price strengthened until December 26, when another breakout occurred and was still ongoing.

Analyst Devchart stated that, after retesting the previous resistance zone, the price of Waves is heading to another breakout – with a target of 16,300 satoshis.

Tron News

The TRON (TRX) price dropped to an all-time low of 136 satoshi on September 6. Although it has increased since then, it has not yet broken above the previous breakout – suggesting that it may still be in a downtrend.

The uptrend then ended on October 30. The current correction wiped out most of the profits made in September. However, the optimism surrounding the money has not completely faded. Trader NekoZ has been skeptical of the opinion of some who believe that this is the right time to buy TRX.

TRON won 2019 Jinse Finance awards

Jinse Finance, China’s leading blockchain media, held the “Keeping Pace with the Time” Award Ceremony with more than 100 blockchain businesses, more than 300 influential people and many industry organizations from both China and abroad.

TRON attended as China’s №1 blockchain and award winner and received the 2019 Most Innovative Public Chain and 2019 Top 100 Blockchain Enterprises award.

IOTA News

The IOTA Foundation has released a review of its achievements in 2019, most notably the activation of the Machine Economy. Not only that, the Foundation has perfected the theory behind Coordicide as well as streamlining the various activities of the IOTA Foundation.

TomoChain News

TomoChain is now officially listed on Changelly. Swap TOMO at the best rate on the market with zero network fees.

Users now can exchange Bitcoin to TomoChain, with only one reasonable fee 0.25% for BTC to TOMO exchange along with a standard network fee. Moreover, they also can buy TomoChain with a credit card.

OKCoin News

OKCoin will support the Ethereum (ETH) Muir Glacier Upgrade. Deposits and withdrawals of ETH and all ERC20 tokens will be temporarily suspended from 7:00 PM January 1, 2020, PST until the upgrade is complete.

Binance News

Binance Futures will host both daily and weekly trading tournaments starting from 2020/01/03 12:00:00 PM (UTC) until 2020/01/17 11:59:59 AM (UTC) with a total prize pool of 100,000 USD in BNB tokens to be won.

BitMEX News

In the past 12 months, BitMEX Insurance Fund has increased to nearly 33.5k BTC, an increase of 62% compared to early 2019 (20.77k BTC). This means that 0.18% of all bitcoins have been mined so far, up from 0.15% in August.

The total number of bitcoins held by BitMEX is now more than 400k BTC, equivalent to over 2% of the current total supply.

This represents a growth of over 500% this year, although the chart presented with this statistic seems to disagree. It seems that the increase from about 240k BTC to 440k BTC, or about 83% growth during the year.

Crypto Brief Jan.1 bitmex

Source: CryptoQuant

Poloniex News

Poloniex new fee schedule is opening next week with the lowest trading fees.

TRX holders and users will receive a maximum discount of 30% on their maker and taker fees, and also will be eligible for future incentives.

Read more:

Follow us on Telegram

Follow us on Twitter

Follow us on Facebook

You might also like

LATEST NEWS

LASTEST NEWS