Crypto Brief Jan.05: Bitcoin price is poised to rise to $ 8000 plus XRP, USDT, ETH, ETC, BCH, LINK, USDT, Binance

From the positive short-term outlook of Bitcoin to Chainlink joined 2key Network. These are some of the prominent news in the crypto space.

Crypto Brief Jan.05

Bitcoin News

Although the prospect of a war with Iran is bleak, it will prove to be beneficial for certain types of assets, possibly including Bitcoin and other digital assets.

It is still not clear whether BTC is a safe haven asset, given its short shelf life and the fact that it has never been traded during the global economic downturn.

In the short term, analysts believe that Bitcoin may see some bullish momentum

Trader DonAlt points out that the Bitcoin chart is showing an inverse head and shoulders pattern, often indicating a reversal in a downtrend. According to him, Bitcoin will likely test the neckline on the chart – a point close to $ 7,800.

The expert also said that after checking that position, BTC would show a fakeout and then will dump or breakout. But overall still rising prices.

CryptoBirb analyst suggested that BTC could soon rise to $ 8,000 if it is possible to break and sustain $ 7,500.

Bitcoin Jack believes it is still too early to long BTC, but if confirming the inverse head and shoulders pattern, the price may be willing to raise significantly.

Bitcoin is about to witness a massive inflow

A new report from CoinShares, the digital asset management firm, shows a massive inflow set up to benefit Bitcoin.

Accordingly, about 68.4 trillion dollars of assets are owned by baby boomers, and silent generation will be passed on to Millennials and Generation X in the next 25 years. And Millennials’ investment habits seem quite different from their ancestors.

Source: Coinshares

XRP News

The XRP price is nearing the gradually decreasing resistance formed in a year. A breakout above that level can trigger rapid price increases, similar to October 2018 and November 2019.

XRP has dropped 75%, but it has now reached the support area that used to act as a bullish catalyst in May last year.

A break below this zone is likely to bring prices to new lows near 1400 satoshis. Conversely, a breakout above the current descending resistance will indicate a new market cycle has begun.

Trader Crypto Michaël has been outlining the XRP chart since 2017, highlighting two descending resistance lines. The support area of 2400 satoshi must be sustained to spark uptrend.

Ripple is looking for a new senior software engineer

The London work placement, designed to help the company build the next generation of payment applications allowing banks to settle cross-border payments to create valuable internet instantly.

A severe opponent of XRP

Mati Greenspan, the founder of Quantum Economics, recently had a quite intense controversy with the XRP army. He shared that he found two major issues with XRP and its price, then he proposed a scenario in which each country’s central bank has its digital currency (CBDC).

The XRP community immediately started to ‘preach’ about XRP. Mati Greenspan responded by dedicating a daily newsletter to this issue and outlining the XRP issues that may be encountered in the short term.

Meanwhile, Weiss Ratings pointed out that XRP, released in early 2020, worth nearly $ 192 million, will have a negative impact on the development of XRP.

USDT News

Whale Alert reported that 61,262,214 USDT (61,156,901 USD) transferred from Bitfinex to Tether Treasury. 

When USDT is deposited to the Tether Treasury, it means that they have stopped buying/trading BTC. Many people worry that there is no incentive to pump the Bitcoin price higher.

Crypto Brief Jan.05 USDT 1

Source: Twitter

Bitcoin Cash News

The BCH price has been trading in a limited range for the past six months. It reached the bottom of the range on December 26 and rose to about 20%.

On January 3, it broke out of a bullish pattern and nearly reached a high range at 0.033.

Trader DonAlt stated that the BCH chart is perfect when sketching the inverse head and shoulders (H&S) pattern.

Ethereum News

BitMEX Research, renowned for providing ‘unbiased’ updates on the development of the cryptocurrency ecosystem, is sure it’s time to shorten Ethereum. The funniest part of this price cut prediction is the image of a true shorts with the Ether logo in a glass frame.

Per “Elixium,” Ethereum has turned green on the 4H chart for the first time since November 14th. This bullish period could last for several weeks. It still needs to close a Daily above $138 for confirmation.

Binance News

Binance.US Android (V1.0) app officially listed on the Google Play store.

Chainlink News

Chainlink has officially become a network integrator on 2key Network. Customers can now take advantage of 2key Network’s Smart Links, combining Chainlink’s prophetic technology for reliable growth campaigns that pay participants based on decentralized supplies of market prices & advertising performance data.

Ethereum Classic News

Another attempt to break out of the current horizontal resistance along with the confluence of the 200 EMA resistance. It is necessary to wait until the support turns into resistance before considering entering positions. The proposal will be invalidated if the price fails to close above the 200 EMA.

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