Crypto Brief Nov.23: Bitcoin could drop down to $4000 plus Ethereum, NEO, TomoChain, Tron, Binance, Coil, Tether, Tezos news
From predictions on the bottom of Bitcoin to TomoChain partnering with NEO. These are some of the prominent news in the crypto space.
Bitcoin broke below $ 7,000 – acting as a support line for a giant descending triangle that could sink King of Cryptos to as low as $ 4,000.
The bitcoin price broke below $ 7,000 – acting as a support line for a giant descending triangle that could sink King of Cryptos to as low as $ 4,000.
Fractals are repeating patterns found similar to petals or even snowflakes. They are also often found on the price chart of financial assets. Those tools are very important, which can be used to predict future price dynamics.
The current structure found on the Bitcoin price chart is like an almost perfect piece of the descending triangle of the previous bear market, which was finally broken and pushed BTC to the bottom of $ 3,100.
Akira Max, a popular trader on Twitter, said that currently no have any technical signals supporting Bitcoin’s rally. He said that it is likely that the 1D price channel will push the price to the region of $ 6800-7000 and briefly assert: “Continue $ 4.5k”.
Continue 4.5k pic.twitter.com/nn1kc2coHJ
— Akira Max (@Crypto_AkiraMax) November 22, 2019
BTC traded in that model for the most of 2018, then breaking down and losing an additional 50% in value before starting to build a base, and recovering during the 2019 parabolic rally.
But that rally stopped at around $ 14,000, forming the top of a new descending triangle, which has since begun to collapse. Where is the temporary bottom during this time?
Bitcoin price is currently fluctuating below the support of the descending triangle for months, it is in danger of falling further. BTC could return to the bottom $ 4200 from where it erupted the rally out of the crypto winter when it risked losing all the profits it had made in 2019.
Do not panic when Bitcoin bleed
The popular analyst PlanB has sparked the crypto community by saying that the BTC price plunge this week did not lose his positive outlook when based on the stock-to-flow (S2F) ratio.
S2F is used to predict the future value of precious metals. It keeps track of the circulating supply of an asset compared to the amount of new supply hitting the market.
The tracking of past Bitcoin price action based on this model has proven to be extremely accurate and according to PlanB, BTC is still on the road towards to the target price of $100k by 2021 and $ 1 million by 2025.
He said that some people are panicking about the state of the market when BTC dropped by 17% during the week but that is just normal price action of top 1. The S2F model is still okay.
Some people panicking about this -17% week.
— PlanB (@100trillionUSD) November 22, 2019
Bitcoin is coming with $100K on the horizon
Charles Hoskinson, the creator of Cardano and co-creator of Ethereum, says he’s waiting for Bitcoin FUD to die down after the world’s leading cryptocurrency dropped over $1,000 in two days, plunging from $8,193 to a low of $6,955, according to data compiled by CoinMarketCap.
Bitcoin’s price is going down? Remember everyone, after the FUD, news trading and manipulation clears out, we still have a global movement that’s going to change the world. We will see 10k btc again and welcome 100k. Crypto is unstoppable. Crypto is the future pic.twitter.com/9vlgH4S7u2
— Charles Hoskinson (@IOHK_Charles) November 22, 2019
Whale transferred bulk BTC
The crypto market for the past two days has been extremely volatile as most leading coins have bled. Amid such uncertain context, the whale has made a series of BTC transfers between exchanges and unknown wallets. The total amount of moves amounted to 110,889 BTC which is equivalent to about $ 823.4 million.
Source: Whale Alert
Will Villanueva, an engineer who is currently researching and developing for Ethereum 2.0 Phase 2 at ConsenSys, said the project is in the process of getting ready for release next year.
In a new interview on the Into the Ether podcast, Will talks about the latest research and development on the update, explaining the mechanisms designed to significantly improve the number of transactions that Ethereum can handle.
Will’s current job is to break through complex and important concepts such as cross-communication, execution environments, stateless clients and more.
Tether just minted 30,000,000 USDT (30,062,328 USD) at Tether Treasury.
It seems immediately, total USDT was transferred to Bitfinex and only about 5 minutes later the money was transferred back from Bitfinex to tether.
This may be a sign of bewilderment in a market that has been volatile in the past two days, with the prices of most coins falling by a two-digit percentage.
? ? ? ? 30,000,000 #USDT (30,062,328 USD) minted at Tether Treasury
— Whale Alert (@whale_alert) November 23, 2019
— Whale Alert (@whale_alert) November 23, 2019
— Whale Alert (@whale_alert) November 23, 2019
Tezos has teamed up with Tribe, a Singapore-backed blockchain platform, to launch a training program for blockchain developers Tezos is scheduled to launch in Q1 2020, according to a blog post by Tezos on November 21.
Tezos Southeast Asia Branch (TSA) of the non-profit Tezos company, which promotes Tezos in the region, has partnered with Tribe to attract more developers to create Tezos-based blockchain solutions for practical applications. use the world.
TSA President Caleb Kow commented on the partnership, saying that by giving lecturers with good knowledge of Tezos blockchain technology, they will be able to expand the interaction within groups. His correspondence through the transfer and sharing of knowledge constantly for new learners.
NEO and TomoChain News
TomoChain has partnered with Neo – a leading blockchain platform – by taking advantage of their strengths to accelerate ecosystem development.
The two sides will enhance ecosystem development through a series of events designed to educate and encourage developers to build DApps on both TomoChain and Neo. Leveraging on their respective regional and technological expertise, both sides will assist developers in building, localizing and accessing distribution channels with the purpose of connecting them with end-users.
Through this collaboration, TomoChain and Neo are helping to solve a long-standing problem that developers have to act as builders and distributors. By gathering the respective strengths, the two sides aim to develop a thriving ecosystem of talent in the technical field, identifying blockchain as a high-potential industry while supporting quality projects on both blockchain platforms.
#TomoChain is happy to partner up with @NEO_Blockchain ?
Both parties aim to grow a healthy ecosystem of technical talent that identifies blockchain as a high potential industry, while supporting quality projects across both blockchain platforms.https://t.co/EO2wZpclmT
— TomoChain (@TomoChainANN) November 22, 2019
Coil, a micro-payment startup backed by Ripple, is partnering with OutVoice, a freelance invoicing solution that allows editors to pay freelancers for a press of a button.
With a mission is to provide online publishers with more control over their work and allow fans to reward content creators with both crypto and fiat, Coil is looking to take advantage of the potential deployment to OutVoice’s WordPress and other content management systems to make paying for freelance bills easier.
Ripple, which owns more than half of the total XRP supply, allocated 1 billion XRP to Coil in August.
Tron CEO Justin Sun has just announced his plan to organize a giveaway of Tesla Cybertruck in collaboration with cryptocurrency exchange Poloniex. This came during the long-awaited presentation of Tesla’s first electric pick-up truck. Ironically, Sun’s tweet coincided with a very embarrassing moment for Elon Musk.
— Justin Sun (@justinsuntron) November 22, 2019
Binance Research recently published its second Institutional Insights Report, highlighting the structure of the investments, trading strategies, and approach to stablecoins.
One of the most interesting outcomes from the recent report is the structure of investment portfolios held by VIP and institutional clients. It was disclosed that 54% of respondents kept their crypto assets portfolio between 1-10 coins. There are 35% of respondents focused on crypto investing with more than 80% allocated to crypto assets.
Franklin Templeton cooperates with cryptocurrency wallet service provider
Franklin Templeton Investments recently proposed tokenizing its new money market fund, using Curv’s crypto wallet solutions to secure these tokenized stocks.
Franklin, managing more than $ 700 billion in assets, recently filed to the U.S. Securities and Exchange Commission (SEC) to track stock of the government’s new money market fund on the Stellar network. The company will apply Curv’s multi-party computing (MPC) protocols to secure these tokens while retaining instant access to them.
Curv’s crypto wallet solution, established in 2018, allows users to control their own digital assets while eliminating the need for private keys.
New Zealand police have confiscated $ 6.7 million worth of pirated movies
The New Zealand Herald reported that Jaron David McIvor, a programmer who helped create a large website with pirated movies, was arrested by New Zealand police today.
Mclvor lives a modest life in a rented house so it’s hard to believe he’s really a millionaire. However, police seized nearly $ 6.7 million in cryptocurrency, as well as $ 1.1 million in bank money, from the 31-year-old man after an investigation into alleged copyright infringement. Online movies in the United States.
McIvor is currently facing charges of money laundering, but he denies all charges, according to his lawyer. As of now, it is unclear whether all the cryptocurrencies of pirate movies will be confiscated for the Crown.
South Korea plans to invest more than 380 million dollars in blockchain
South Korea’s ZDNet Korea reported on Thursday that Korea’s Ministry of Science and Technology plans to invest 450 billion won (~ $ 382 million) in blockchain research and development. The agency will invest the money over a six-year period from 2021 to 2026.
Citing anonymous government officials, the report adds that the goal of the initiative is to create a platform of data economy supported by blockchain technology.
It is known that the ministry has studied various areas of blockchain, including smart contract reliability, interoperability between blockchains, scalability, and consensus algorithms.
Ping An China’s OneConnect introduces blockchain demos in Thailand
There’s a broad private sector initiative to develop a National Digital Trade Platform (NDTP) in Thailand. NTT Data previously completed the testing for the project.
OneConnect, the blockchain and AI branch of insurance company Ping An, conducted a proof-of-concept (PoV) workshop. Therefore, it is at an earlier stage than NTT Data.
The goal of the meeting was to show 25 Thai Bankers Association and Thai Industry Federation representatives about OneConnect’s ability to use blockchain to securely share data between businesses on a digital trading platform. The NDTP project is an initiative from Thailand’s Standing Committee on Trade, Industry and Banking (JSCCIB).
Dutch is testing football ticket sales on the blockchain
The Royal Dutch Football Association (KNVB) and JC Arena of Amsterdam are experimenting with blockchain to reduce black market transactions and ticket fraud, Dutch publication Ajax Life reported. Yesterday’s Euro Cup qualifier between the Netherlands and Estonia saw some fans enter the stadium without a trace, made by blockchain and GPS.
The initiative is part of ‘Changing game challenges’ where some companies are challenged by JC Arena, KNVB, FC Ajax and ID&T to come up with innovative solutions to enhance the match experience for fans.
Finnish prepares for Bitcoin ransomware attack
Finnish news outlet Yle reported on Nov.22 that participating cities and organizations were rehearsing how to respond when a group of hackers asked participants to pay ransomware in a series of attacks. network simulation.
As part of the operation, 235 public organizations were faced with a group of active hackers threatening to carry out cyberattacks unless paid a ransom fee in Bitcoin on a given date.
According to the organizers, the objective of the exercise is to increase the ability of cities and organizations to handle a cyber attack more effectively. The Population Registration Center, which operates under the Ministry of Finance, has organized two such days of practice, with a third scheduled for next week.
Alibaba Pictures plans to tokenize distribution rights for its new film
Chinese English-language publication China.org.cn reported on Nov. 22 that Alibaba Group’s movie-making arm Alibaba Pictures reportedly plans to tokenize distribution rights for its new film “Striding into the Wind”.
The company has purportedly signed an agreement with New York-based decentralized entertainment platform Breaker, formerly known as SingularDTV, to distribute the film overseas using its blockchain platform.
Li Jie, senior vice president of Alibaba Pictures and CEO of Alibaba’s ticketing app Taopiaopiao, reportedly announced the news during the China Golden Rooster & Hundred Flowers Film Festival on Nov. 20.
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