Crypto Brief Jan.12: Bitcoin price may skyrocket 330% up to $14000 plus Ripple, Ethereum, Waves, Dash, NEO, FCT, FTX, SegWit

From the potentially new high of Bitcoin to Ripple and XRP are mentioned in a U.S bill. These are some of the prominent news in the crypto space.

Crypto Brief Jan. 12

Bitcoin News

Since Bitcoin began falling in July last year and falling to $ 6,400 in mid-December, analysts have wondered when the bulls will step in and push the cryptocurrency higher again.

According to the organization’s investment data in the form of Commitment of Traders Report (Commitment of Traders Report), the rally may start again soon. Trader Cantering Clark recently drew attention to an extremely rising trend on Twitter.

The trader noted that according to Commitment data, there was a significant increase in long positions held by traders. This figure is currently the highest since July. According to him, this is a model similar to what we saw in early 2019, with the longs order suddenly rising from under 100 BTC to over 300 BTC. At that time (early April 2019), Bitcoin began to increase by 330% to $ 14,000.

The Bullish sentiment has flowed back into the bitcoin market. So far, BTC has earned 13% in 2020 and can earn more when the primary buy signal flashes green.

On the weekly chart, the 50 and 200-week moving averages are still in a strong uptrend, so the long-term picture remains positive.

Financial Survivalism analyst observed another long-term technical indicator and noted that it has turned to a ‘buy’ signal for the first time since March 2019.

This indicator is a parabolic stop and reverses signal identifying the future short-term momentum of a given asset.

For bitcoin, SAR has just moved below the price level after a six-month downtrend.
The last time it did this was in March 2019, right before the monumental Q2 rally that saw prices increase by nearly 250%.

Analyst ‘Willy Woo’ also noted that other figures have also turned to support the upside.

Moreover, analyst ‘Dave the wave’ maintained that the bottom appeared, and it was all blue sky from here. The MACD on the weekly chart seems to be rising. When MACD enters the territory positively, the market is largely considered to be on an uptrend.

Ethereum News

At the proposal of Vitalik Buterin, the initial phase of Ethereum 2.0 will be launched without stateless miners and WebAssugging.

A new release of the Ethereum 2.0 specification (network operating rules) has been distributed. This release (v 0.10.0) contains a deep and much-needed file / directory rearrangement. The new release marks a stable target for Phase 0 for the multi-client testnet.

Trader CryptoWolf recently noted that the price of Ethereum, with the latest price action, has allowed the cryptocurrency to break down the wedge chart structure by seven months. Due to the importance of this chart pattern, turning wedges into support can result in ETH rebounding much higher than the current price.

Meanwhile, 21000 ETH stolen from Upbit Hack Nov 2019 transferred to unknown wallets, according to Whale Alert.

Crypto Brief Jan.12 ETH 2

Source: Twitter 

Ripple News

Big data expert Thomas Silkjær said that an XRP codebase fork could serve as a backbone for a blockchain-powered social media network.

Silkjær tested the possibilities in a new Coil post and said that the ledger could be used to create a unique token-based reward system. He explained that in order to achieve true decentralization, the ledger could not be stored in a large data center.

Ripple and XRP are mentioned in a U.S bill

A proposed bill on money transfer insurance that addresses Ripple and XRP is the latest development in payment channels. The ever-increasing cross-border money transfer has raised US regulators’ vigilance for money tracking and security.

Ripple’s XRP has been mentioned regarding cross-border payment systems in the proposed invoice text. The bill is still under discussion until January 2021. The mention was immediately recognized as being potentially positive for XRP on social media.

Proposal for money-securing proposals is sent through a growing selection of payment channels and includes the operation of fintech institutions and payment processors. The technical capabilities of new types of networks are allowing a more detailed and accurate approach to insuring against loss.

FTX News

FTX launched Bitcoin Option transactions, per a tweet of CEO Sam Bankman-Fried on January 12.

Several hours after the announcement, the optional Bitcoin trading feature appeared on the FTX exchange and reached a trading volume of $ 1 million.

Source: FTX

SegWit News

SegWit transactions on the Bitcoin network started the new year with an all-time high (ATH), accounting for 62% of all network transactions. After being introduced in 2017, SegWit has steadily increased in terms of adoption, showing a sharp increase at the beginning of 2018 and the end of 2019.

According to Segwit.space, the ATH occurred on January 1 since then, transactions have dropped slightly back to 63.2% at the time of publication.

Crypto Brief Jan.12 Segwit

Source: Segwit.space

Waves News

The Waves price is reaching resistance on 1D. It is coming to a cluster of 89 & 100 EMA + 200 MA + local S/R, STOCHS reset, and coming up, RSI below 50 but moving up. If price closes above 200 DMA, will consider a pullback.

Dash News

Dash has become the strongest bull in the past 24 hours among the top 20 coins, up about 16.27% at its peak. The coin is currently trading at around $ 65, with a 10% increase in the last 24 hours. The weekly chart shows a 33.7% growth.

Crypto Brief Jan.12 DASH

Dash price today. Source: Trading View

FCT News

FCT prices may soon start an upside move. If the previous price history rhymes, it would reach a high of between 150,000-250,000 satoshi.

Throughout FCT’s price history, the 150,000 satoshi region has been the most significant.
Prices traded on it and confirmed it was a support multiple times until June 2018, when broken. However, the incident proved to be short-lived, as prices reversed and reached as high as 505,000 satoshis by the end of this year.

Prices have again broken below this zone in May 2019 and have dropped since then. On January 8, 2020, the price reached an all-time low of 22,061 satoshis.

Finally, there is a descending support line that may have been in place since 2018.

Crypto Brief Jan.12 FCT

FCT price today. Source: Trading View

NEO News

NEO has witnessed remarkable growth, with the current price of $ 10.2, 7.4% higher than the same period yesterday. Over the past week, the currency has risen 11.44%.

NEO price today. Source: Trading View

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