Crypto Brief Jan.19: Bitcoin price still targets $9400 plus Ethereum, XRPL, LINK, Trezor, Monero, STEEM, ETC, Tron, Cosmos, Electroneum, Stablecoin
From the prediction of Bitcoin’s short-term momentum to Trezor integrated both the Monero GUI and CLI wallets. These are some of the prominent news in the crypto space.
The Bitcoin bulls have successfully struggled above $ 8800 and have now pushed the price above $ 9000. Trader Crypto Michaël saw this success as a clear sign of a further breakthrough for $ 9400.
All right, we didn’t break below $8,800 yet, which would normally confirm the bearish divergence and a trend reversal for now (smaller timeframes).
If we don’t break below, still targeting $9,400.
If we do break below -> $8,200 & $7,600/7,700 are the areas. pic.twitter.com/2s0HN7IuoJ
— Crypto Michaël (@CryptoMichNL) January 18, 2020
Trader proposed another scenario that could come true if Bitcoin failed to defend the $ 8800 level. In this case, the Bitcoin price could lose 15% in the short term, dropping to $ 7600.
According to trader Scott Melker, Bitcoin faced a serious rejection at a 61.8% Fib retracement level, this could indicate that $ 9,000 is the peak of the recent rally.
This is the “bear case.” Price tapped the 61.8% Fibonacci retracement level of the entire move down from the $10,600 high to the $6,400 low. The 61.8 Fib has been powerful in previous Bitcoin moves. Analysis, not opinion. pic.twitter.com/M5LPwANvOw
— The Wolf Of All Streets (@scottmelker) January 17, 2020
Hash rate Bitcoin reaches a new high
Hash rate Bitcoin has reached new all-time highs to mark the cryptocurrency’s latest technical achievement. The mean value reached 119 quintillion hashes per second — its best ever at the time.
Trader Josh Olszewicz recently observed a positive signal on Ethereum’s daily chart, when for the first time the price of ETH crossed the 200-day EMA and the Ichimoku cloud since July 2019.
above the 200EMA and Cloud for the first time since July 2019 pic.twitter.com/S3pKLdOA7b
— Josh Olszewicz (@CarpeNoctom) January 18, 2020
According to price estimates in May 2019, after breaking through these two resistance levels, the ETH price has risen more than 100% before reversing a price drop.
Analyst Dave the Wave posted a chart last week and noted that when the ETH price regains the $ 150 zone, the next target will be $ 200.
The price of STEEM, the original token of the Steem blockchain, rose significantly on Saturday. It follows the announcement that the platform currently supports non-fungible tokens.
— Steem (@SteemNetwork) January 14, 2020
The coin price gained more than 35% in trading on Saturday, closing at $ 0.2. This level is far different from the high of $ 7.97 in January 2018. The increase reflects greater attention to the utility of this currency.
An open financial center named FinNexus has revealed its plans to promote XRP Ledger (XRPL) technology. Following the 2020 roadmap, FinNexus intends to use XRP Ledger to tokenize assets in terms of protocol development.
As part of its plans to connect at least two public chains this year, FinNexus claimed that while Wanchain will be used for BIP, XRP will be utilized for tokenized asset issuance.
Although the backbone of FinNexus is built on the public blockchain platform WanChain, the company says it plans to work with as many open protocols as possible to expand its reach.
Cooperative ETC CEO Bob Summerwill recently submitted a place a hard cap on the gas limit for the ETC mainnet as a consensus rule in the protocol.
Summerwill asserts that security and decentralization are the two most important factors that have been heavily compromised in ETC due to the “malincentives” that ETC has inherited from ETH in the miner gas limit voting mechanism. According to the CEO, Ethereum’s gas crisis has affected Ethereum Classic.
ETC Network was supported on SafePal hardware wallet
SafePal has joined the ETC ecosystem and has enhanced connectivity and interaction with all ETC members. An upgrade of the SafePal S1 hardware wallet and built-in ETC property is available. SafePal has also launched the Password feature, which allows users to create hidden wallets on S1. So far, SafePal S1 has supported 15 blockchains, 15 coins, and more than 1500 tokens.
— Classic is Coming –oppose-dao-fork (@ClassicIsComing) January 19, 2020
WisdomTree, a major asset manager with $63.8 billion in assets under its belt, plans to launch a regulated stablecoin, which pending approval from the United States Securities and Exchange Commission, could be a significant development
It would bring a unique combination of being an enterprise-level and having the financial regulatory experience to the stablecoin arena, and if talks with the SEC go well, perhaps even the first US-regulated crypto exchange-traded fund.
The stablecoin will be pegged to a basket of assets such as gold, fiat currencies, and government debt. However, no formal application or proposals appear to have been filed with US regulators yet.
TRON smart contract platform has climbed up the public addresses rankings only trailing Bitcoin and Ethereum. According to Tronscan.org, there are over 4.5M addresses moving over 1.05M transactions in the last one day only.
#TRON’s smart contract platform has climbed up the public addresses rankings only trailing #Bitcoin and #Ethereum. According to @TRONSCAN_ORG, there are over 4.5M addresses moving over 1.05M transactions in the last one day only. #TRX $TRXhttps://t.co/KVi7Ykemw4
— Justin Sun (@justinsuntron) January 19, 2020
Herald Sheets took a closer look at the growth and development within Electroneum (ETN) ecosystem in Argentina using the latest developmental article published on a website affiliated with the cryptographic project.
In the article, two personalities were keenly followed to see how far Electroneum has gone in the environment where ETN adoption is at the peak. The names of these two are Pablo Canepa and Gabriela Herrera of Bariloche, Argentina.
Kadena, a blockchain technology company that fully launched its hybrid blockchain just a few days ago, has now announced the integration of its blockchain wallet app Chainweaver onto the Cosmos network. The integration is expected to be completed by the end of Q1.
Chainweaver is a multi-blockchain interoperable wallet that also functions as a development environment for smart contracts. Cosmos, currently with a $1.1 billion market capitalization, last year launched the Cosmos Hub, designed to be a point of interaction and interoperability for multiple blockchains.
Kadena and @TheInterchain Foundation have agreed to integrate Chainweaver with the @cosmos network. #Chainweaver is a multi-#blockchain interoperable wallet that also functions as a development environment for smart contracts.
— Kadena (@kadena_io) January 17, 2020
Trezor and Monero News
Satoshi Labs, creators of the Trezor cryptocurrency hardware wallet platform, announced that it is now integrated and had fully functional with both the official Monero GUI and CLI wallets.
The main goal of integration was to protect the functionality of all Monero features, especially Monero’s advanced cryptography elements, and privacy features. Along with this integration, Trezor has made it possible to use Monero (XMR) to buy a Trezor directly from the Trezor Shop.
Anticipated Trezor hardware wallet integration into @monero is ready! The idea, popped in 2017, was developed by Dušan Klinec during 2018 and sent to the Monero team for review. The bug fixing is done, the wait is over. Enjoy using your Trezor with Monero!https://t.co/t9msG8ZfC1
— Trezor (@Trezor) January 17, 2020
On January 14, LINK price confirmed the previous resistance line as a support line and has increased by more than 20% since then.
The move-up marked the end of the downtrend in 53 days, in which the price of LINK has decreased by 35%. Currently, the price has moved above some minor resistance areas, outlined by trader Euro Sniper. According to him, the price of LINK is following a parabola, the target for this movement will be at least 35,000 satoshis.
Next Target pic.twitter.com/FfdA4ZFQik
— €uroSniper (@TheEuroSniper) January 16, 2020
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