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Crypto Brief Nov.22: Bitcoin price likely deeps to $6800, even to $ 1000 plus Ethereum, Ripple, Litecoin, Cardano, zkSNACK, Chainalysis, Kraken News

Crypto Brief
By Emma

From predictions about the dead-end of Bitcoin’s price to Binance DEX extending support for Litecoin. These are some of the prominent news in the crypto space.

Crypto Brief Nov.22

Bitcoin News

The market is still blood. Bitcoin’s price plunged to $ 7100 and tends to fall further when it is now down more than 11% at the press time.

Bitcoin price today. Source: Coinmarketcap

The community is struggling to find the cause of Bitcoin and the entire market is plummeting and most people believe that China’s crackdown on crypto exchanges. Notably, the Shanghai offices of Binance and Bithumb Korea were raided and forced to close. However, Binance CEO Changpeng Zhao and Bithumb’s representatives rejected the rumors and said that this was just a trick of the competition.

Amidst China’s harsh crackdown and the uncertainty about the offices of exchanges, crypto analyst Michaël wrote that a slide to $ 7,700 would be good. However, the present is probably not the right time. Unless Bitcoin starts trading sideways at $ 7,500, he thinks it will plummet further to $ 6,800 or even $ 6,300. The market is becoming weaker than at any time, he concluded.

Analyst Filb Filb believes that bears are currently in control of the market. He expected a bit of feedback, however, it seemed that the trend was supporting the bears.

Its likely Bitcoin will reverse in December, as this is when Bakkt plans to launch Bitcoin cash futures contracts. However, that cannot be a guarantee. In early fall, when the company launched physical BTC futures, the price of the leading cryptocurrency dropped due to low and disappointing trading volumes on Bakkt.

Bitcoin is forming a “very ominous” price model

Peter Schiff, CEO of Euro Pacific Capital, a notorious anti-Bitcoin, said that Bitcoin is on the way to form an “ominous model”, which could push prices to as low as $ 1,000, a price the leading currency has never been. seen since May 2017 and is also considered the deadly milestone of King of Cryptos.

According to Schiff, Bitcoin is forming a “head and shoulders” (H&S) model, a chart with three peaks that often helps detect an imminent downtrend. He takes a screenshot of his screen to help the bulls are deluding the picture. imagine the prospect of death.

This is not the first time Schiff has noticed the model mentioned above. On October 20, he tweeted that the Bitcoin chart looked “very terrible” and that Bitcoin was nearing completion of the model’s right shoulder. Prior to that, his technical analysis was torn up by the Crypto Twitter community, arguing that using the H&S model on high time frame charts was ridiculous.

Ethereum News

The price of Ethereum, the second-largest cryptocurrency by market capitalization, has dropped by more than 13%. All altcoins are falling behind Bitcoin in a downtrend at this time.

A core Ethereum developer, nicknamed antiprosynthesis.eth on Twitter, has brought some good news and hope for a bullish price reversal of ETH.

Source: antiprosynthesis

Looking at the two charts, in which ETH is trading with USD and against BTC, the developer said that the ETH price has now broken the downtrend on both charts and is now retesting the trendline.

While answering a question from a follower in the comment stream, the developer said that if ETH makes an effort not to fall further, the price could start rising.

Ripple news

XRP researcher Leonidas Hadjiloizou came up with a list of Twitter accounts that, according to him, are impersonating real people in the cryptocurrency space.

The list includes a number of Ripple executives, including CEO Brad Garlinghouse.

Twitter has long struggled to deal with scammers, especially in the cryptocurrency space.

The fake accounts often respond to tweets and post scams on cryptocurrency. Celebrities like Elon Musk have been impersonated many times in similar plans.

Last year, Twitter launched an attempt to target such scammers, with the amount of controversial success.

Santander brought One Pay FX to the US while Mercury FX revealed new plans for XRP

Two of Ripple’s customers are announcing plans to expand the company’s use of cross-border payment technology.

The executive chairman of Spanish banking giant Santander, Ana Botin, said in a new interview with Bloomberg that the company is bringing its Ripple One Pay FX-based payment application to the US.

So far, One Pay FX is operating in four corridors: England, Brazil, Mexico, and Spain.

Meanwhile, Mercury FX said it plans to expand its use of Ripple’s XRP payment solution called On-Demand Liquidation (ODL). Mercury FX is a global currency exchange service provider with offices in London, Hong Kong, and Cape Town.

At a recent conference hosted by Ripple, Mercury FX CEO Alastair Constance revealed the company’s plans to bring ODL to Africa. The company is also opening an office in Dubai to launch a corridor between the Philippines and the UAE.

Litecoin News 

Binance DEX is expanding support for Litecoin.

Binance DEX has just paired its LTC pegged asset with TrueUSD (TUSD). Binance has consistently added 1: 1 pegged coins to some of the largest coins by market capitalization to give traders on the exchange a way to interact with leading digital assets. world.

Cardano News 

The Cardano Foundation said it is stepping up the promotion of blockchain adoption and real-world use cases in Africa.

The Cardano Foundation is expanding its reach to 54 countries on the African continent to build blockchain governance to demonstrate the region’s sustainable development and growth. One of the world’s leading nonprofit blockchain organizations helps legislators and policymakers in Europe and Asia, and now in Africa, forms legal and commercial standards. – in line with the mission and one of Cardano Foundation’s missions.

Cardano Foundation president, Nathan Kaiser, confirmed this was part of a broader strategy to promote industry around the world.

zkSNACK News 

zkSNACK, the company behind privacy-focused cryptocurrency wallet Wasabi, received a $ 336,500 investment from technology investment firm Cypherpunk Holdings.

The news was published in a Cypherpunk press release on November 21, confirming that Cypherpunk bought 4.5% of zkSnacks. With the acquisition, Cypherpunk investment director Moe Adham became a member of the board of zkSnacks.

Chainalysis News 

Chainalysis laid off 39 employees on Thursday, about 20% of its workforce because the startup prioritizes turning around profits and bringing products to market.

The R & D team is under the most pressure when the most positions are cut. Clearly Chainalysis is looking to transfer resources into the product team and a market access strategy.

This is one of the biggest layoffs in the industry since the so-called crypto winter of 2018 ended and the price of bitcoin began to rise earlier this year.

The reduction in personnel may be surprising because the New York-based company has made some positive announcements over the years.

Recently, IBM, Oracle, Huawei, Samsung .. have also fired employees in their R&D team.

Kraken News

Kraken, a San Francisco-based exchange, has announced that it will introduce the mobile version of the Kraken Futures trading application – created earlier this year after acquiring Cryptofacilities and only available on web browsers, in a blog announcement on November 21.

The application will be available on both iOS and Android platforms.

Kraken Futures is a professional trading platform for derivative instruments on digital assets, where traders can use long/short digital assets with leverage up to 50 times while providing Seamless transfer level between spot market and futures.

Users log in to the app using QR codes, view live order-books, price charts and manage open positions as well as open orders, etc.

Other News

Shenzhen China warned 39 crypto exchanges

On November 22, authorities in Shenzhen identified a total of 39 exchanges that could potentially be banned from Chinese trade, according to local news agency Sanyan Finance, and confirmed by Primitive Crypto’s co-founder Dovey Wan.

This includes the participation of the Chinese central bank, the People’s Bank of China (PBoC), the Economic Investigation Bureau of the City Public Security Bureau and the City Communications Administration.

It’s still unknown what consequences the exchanges will face, while Sanyan emphasized his desire to crack down on liquidity.

Yahoo Finance integrates the web with Coinmarketcap

Yahoo Finance, the U.S.-based financial news giant, has integrated its website with the cryptocurrency price of major cryptocurrency data provider CoinMarketCap (CMC). The website now allows customers to track prices for major coins, providing data based on CMC including market capitalization, trading volume, circulation, and more.

CMC confirmed a strategic partnership with Yahoo Finance for data and content about cryptocurrencies in a press release on November 21.

Yahoo Finance’s crypto refinement site offers prices for a total of 118 digital currencies, including major cryptocurrencies such as Bitcoin, Ether, XRP, Bitcoin Cash, Tether and others. The combined valuation of data from more than 200 exchanges and covering cryptocurrencies accounts for more than 90% of the global cryptocurrency market capitalization, since the index’s launch.

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