Crypto Brief Nov.17: Tone Vays Throws Cold Water on Bulls When Claims That Bitcoin Price Will Drop Below $ 7,000 Before Halving Plus Ripple, ADA, ETC, Libra, 1Password, ConsenSys News
From the prediction of Bitcoin price will drop below $ 7,000 before halving to Libra announced development roadmap. These are some excellent news in the world of crypto today.
In a new interview, Vays confuse on predictions that BTC will break through its $ 20.000 all-time high next year.
“Once we break $20K, we can go to $50K or $100K pretty quickly, but I’m not expecting us to break $20K in 2020. I’m looking for the bull market to take off around 2022, 2023.”
He is still bearish on Bitcoin and thinks BTC prices will break below $7,000 before May of next year.
“At the moment, I still see lower prices. I still think we’re going to go lower than $7,000 before the halving. But after that, that would be the final secondary low. Hopefully, it’ll be higher than the $3,000 low back in December. And then we can finally start a bull market after the halving.”
Binance CEO is confident about the future of Bitcoin
Binance’s CEO Changpeng Zhao recently blamed the perception that Bitcoin is not respected as “real money” in regard to a speech by the former European Central Bank (ECB) President Jean-Claude Trichet.
Mr. Trichet claimed that “Bitcoin itself is not real, with the characteristics that a currency must-have,” and that cryptocurrency is not the “future of money.”
Mr. Zhao says that BTC and the cryptocurrency industry are in their immaturity. While he admitted that today’s BTC just a “small market cap instrument” subject to high volatility.
Mr. Zhao also predicted a “race” by nations, which was inspired by the Chinese President’s previous decision in blockchain education technology. This will allow more people to learn and understand the positive aspects that cryptocurrency and BTC have to offer.
Fact of the Day
The Chinese President’s endorsement of blockchain will inevitably drive major adoption of cryptocurrencies, says Binance CEO Changpeng Zhao
[ CZ Binance ]
— Net Empire (@net_empire) November 16, 2019
Bitcoin price soared to $ 10,600 not due to ‘China Fever’
Since Chinese President Xi Jinping expressed his support for blockchain technology on October 28, the “China fever” on crypto like bitcoin has plummeted.
The price of bitcoin fell from around $10,600 to $8,500, and cryptocurrencies that have Chinese development teams such as NEO, Ontology, and TRON have slightly increased over the past three weeks.
Global markets analyst Alex Krüger said:
Have mainland China investors increased their demand for bitcoin?
– $BTC volumes quickly dropped back to pre Xi news levels.
– Online searches in China are back down to pre Xi news levels.
– Website traffic for exchanges catering to China barely changed since the news. https://t.co/XkJpdswIZf
— Alex Krüger (@krugermacro) November 15, 2019
Some technical analysts have suggested that China’s blockchain development initiative may not have primarily fueled the bullish of bitcoin to $10,600 in late October. That is a cascade of short liquidations build-up of sell pressure caused the rally.
Bobby Lee regrets backing Bitcoin Segwit2x
In a series of tweets on November 16, Bobby Lee says he was wrong to support Bitcoin scaling solution, Segwit2x.
Co-founder of cryptocurrency exchange BTCC and CEO of Ballet wallet, Lee was one of the original support of SegWit2x, which aimed to increase Bitcoin’s network capacity by doubling its block size to 2 megabytes.
2 years ago, I thought SegWit2x was the best path forward for Bitcoin. I‘ve since come to realize that it was extremely dangerous & irresponsible to push for a contentious hard fork w/o replay protection, esp. when there wasn’t consensus. Mea culpa!
Bitcoin is the real Bitcoin.
— Bobby Lee – Ballet: Simple & Elegant Wallet (@bobbyclee) November 16, 2019
Ripple says a new survey questioned 1,053 professionals across 21 countries who are working directly with payment services at their organizations shows many financial service providers still have major concerns about the legality of blockchain technology.
According to the San Francisco startup, 35% of respondents say regulations are too uncertain, and 32% believe current regulations are too restrictive.
Ethereum Classic News
On December 19th of 2019, there will be an Ethereum Classic core developer call to discuss the Aztlán upgrade finalization as per issue 177.
The client teams expected to include are:
• Parity Ethereum / Parity Tech
• Geth Classic / ChainSafe, ETC Labs Core
• Multi-Geth, ETCLabs Core
• Hyperledger Besu / ChainSafe, Pegasys
The topics to be debated and discussed will be:
• Aztlán (ECIP-1061) needs to be either accepted or updated (or rejected)
• Discuss included EIPs
• Timeline for the protocol upgrade
• Mordor Classic and Kotti Classic testnet (February?)
• Ethereum Classic mainnet (March?)
• Other things related to Aztlán
Ethereum Classic – the most popular cryptocurrency in the US
According to research, the most popular cryptocurrency by city, in general, is Ethereum Classic, with eight cities looking for the most coins. Litecoin and TRON are in second place with six cities, and Dash and Siacoin are in 4th and 5th positions with 4 and 3 cities, respectively.
In a blog post, Libra Association developer Michael Engle said that more than 51,000 transactions registered in Libra testnet since September. Developers have also expanded 34 projects on the testnet, including ten wallets and 11 blockchain explorers.
The Libra Association has also launched a “pre-mainnet,” which is a copy of the actual mainnet for testing purposes, which now has seven nodes in operation, with 14 more in process.
The Libra Association published its first blockchain development roadmap in early October, focusing on bringing more partners to its upcoming mainnet. In mid-October, 21 Libra members, including Facebook, officially signed the association’s document. According to a blog post, the first roadmap is predicted to be done by the end of the year.
1Password, a 14-year-old password management company, announced the single most significant investment, 200 million USD from Accel in Series A Funding.
Based in Toronto, 1Password has been profitable since day one, according to cofounder Dave Teare. However, to capture more market share, the firm decided to take funding to grow its business.
ConsenSys chief strategy officer Sam Cassatt is ceased work and to launch Aligned Capital, a new venture fund with the backing of ConsenSys founder Joe Lubin. He will stay on with the Ethereum venture studio in an advisory capacity.
At San Francisco’s TransTech Conference, Cassatt said Aligned Capital is seeking to raise $50 million for its first round and will focus on emerging technologies, including artificial intelligence, healthcare, cryptocurrency, and blockchain.
Craig Wright Could Be Real Satoshi
Self-proclaimed Satoshi Craig Wright is an odious figure within the cryptocurrency space. However, Bobby Lee, the creator of China’s very first cryptocurrency exchange BTCC, doesn’t want to dismiss Craig Wright’s claims automatically.
According to a recent tweet, Lee doesn’t prohibit the possibility that Craig Wright could be the real Satoshi, but Wright has to come forward with further proof. However, he claims that Jon Matonis of Cypherpunk Holdings saw Wright signing a transaction with real private keys.
As for your question, it depends on your definition of how to determine who really is Satoshi. In some ways, we all are Satoshi, for believing in & using Bitcoin.
More seriously: does having & signing with the private keys prove it? What if multiple people have access?
— Bobby Lee – Ballet: Simple & Elegant Wallet (@bobbyclee) November 17, 2019
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