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.
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.
People are gonna call inverse head and shoulders on this one.
That makes me think we go and test the neckline (upper red line).
Once there I think we either fake-breakout and dump back down or breakout for real which will lead to a short-squeeze.
I remain bullish. pic.twitter.com/ozhOdHlWV7
— DonAlt (@CryptoDonAlt) January 3, 2020
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.
$btc may pull 8000s if 7.5k bull flag breakout is safely reclaimed as support
if you can’t monitor market today often playing any aggressive swing may be recipe for failure imo
Wouldn’t be surprised if US-Iran expanded tensions repeated China tensions May 2019 impact on bitcoin pic.twitter.com/lus6ZHUZj9
— Crypto₿irb (@crypto_birb) January 3, 2020
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.
Best not ignore these technically correct (so far) potential bullish structures
Not completed, but formation so far follow iHS guidelines
Can’t go long here
7470-7700 is short hedge but stop should go BE fast
Retracement is aggresive buy option
Break, retest for confirmation pic.twitter.com/wFgVToGf49
— //Bitcoin ?ack (@BTC_JackSparrow) January 3, 2020
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.
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.
Tik tok, tik tok. pic.twitter.com/7pF3d6clrN
— Crypto Michaël (@CryptoMichNL) January 2, 2020
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.
— Jim Chauncey-Kelly (@JChaunceyKelly) January 3, 2020
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).
Imagine a world where Europe, China, and 50 other central banks have their own digital currency that settle international payments in real time & have smart contract capabilities.
Now try and think of a reason that any bank would prefer to hold non-digital USD in their reserves.
— Mati Greenspan [tweets are not trading advice] (@MatiGreenspan) January 2, 2020
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.
Hot from the press. Today’s QE Newsletter tackles…
— Mati Greenspan [tweets are not trading advice] (@MatiGreenspan) January 3, 2020
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.
2020 at #Ripple begins with a further release of #XRP tokens worth $192 million as part of a planned incentive scheme. These constant dumps that Ripple makes are not helping the price of XRP, that’s for sure. #crypto #cryptocurrrency
— Weiss Crypto Ratings (@WeissCrypto) January 2, 2020
Whale Alert reported that 61,262,214 USDT (61,156,901 USD) transferred from Bitfinex to Tether Treasury.
— Whale Alert (@whale_alert) January 4, 2020
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.
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.
The BCH/BTC chart is an absolute beauty as well. pic.twitter.com/FChMi5xVwk
— DonAlt (@CryptoDonAlt) January 3, 2020
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.
When we made our 2020 predictions, we didn’t mention $ETH
— BitMEX Research (@BitMEXResearch) January 4, 2020
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.
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.
— Elixium (@ElixiumCrypto) January 5, 2020
Binance.US Android (V1.0) app officially listed on the Google Play store.
— Binance.US (@BinanceAmerica) January 4, 2020
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.
Chainlink to become a network integrator on @2keyNetwork! Users leveraging 2key’s “Smart Link” tech can use Chainlink oracles for trustless growth campaigns that pay participants based on decentralized sourcing of market prices & ad performance data. https://t.co/3JMHc38Kkc
— Chainlink – Official Channel (@chainlink) January 3, 2020
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.
Another attempt at breaking current horizontal resistance + 200 EMA confluent resistance.
I want to see a S/R flip before considering entry.
Invalidated if we fail to close above the 200 EMA.#ETC#Alts#Crypto pic.twitter.com/ZWawcF5VkZ
— Devchart (Andre) (@devchart) January 5, 2020
- Nexo CEO Antoni Trenchev: Bitcoin Hit 50.000 USD “Very Easily” In 2020
- World War 3 On The Horizon: Bitcoin Market Cap Jumped About $8 Billion In Just A Few Hours, BTC Volume And Price Skyrocketed On LocalBitcoins