Crypto Brief Nov.28: Bitcoin bulls strengthen to push prices above $ 7500 plus Ripple, LTC, BCH, EOS, ADA, XMR, Zilliqa, Securitize, MakerDAO, Poloniex, Kraken, Klaytn news
From predictions about Bitcoin’s new bull cycle to Poloniex exchange acquired TRON-powered TRXMarket. These are some of the prominent news in the crypto space.
The bulls have strongly defended the area below $ 7000, creating a significant buying pressure that pushed the price above $ 7400 when BTC was battered in the area above $ 6000.
After the sell-off, Bitcoin was subsequently rejected at $ 7,400, signaling that this was strong resistance to No.1. By the press time, however, the price has broken through this level and traded at $ 7535 with a nearly 6% increase in the past 24 hours.
Cryptomist, a popular analyst on Twitter, said she believes many technical factors are pointing to the possibility that the recent lows of the cryptocurrency will mark a long-term bottom, potentially jumping to $ 11,000.
Stopped out short in profits
Forget my $6.4 call
Triple bottom on RSI
Heikin Ashi Doji
Bottom could be in and change of trend towards $11k COULD be in progress
Will update on daily close pic.twitter.com/2ilK8WNqV0
— The Cryptomist (@TheCryptomist) November 27, 2019
In the short term, the critical level that analysts are watching is $ 7,500, as a breakdown of the decision above this level can confirm the reversal head and shoulders pattern that BTC has formed, play an important role in marking the recent BTC low as a long-term bottom.
Galaxy analyst briefly spoke of this level in a recent tweet that broke $ 7500 and it’s showtime.
— Galaxy (@galaxyBTC) November 27, 2019
The next few hours and days will likely shed some light on whether Bitcoin will continue to trade within its recently established tight range, or the bulls will rise and confirm the current bullish signal. is indicated on its graph.
New Bitcoin bull cycle
Popular analyst on Twitter CryptoWolf said that Bitcoin’s past bull market breakdown could indicate where the leading cryptocurrency will follow. Each bull run coming later will take more time to materialize.
After statistics of numbers, he believes that Bitcoin will reach its next peak in December 2022, about 1,400 days after the key bottom of $ 3,220 in December 2018.
In terms of return on investment, he said BTC will increase 40 times, pushing the price to about $ 120,000.
– Bull cycles are getting longer.
– ROI since bottom are decreasing.
Conclusion of cycle IV:
Next top: ~ 1400 days since bottom. ETA December 2022
ROI: ~40X since bottom, ~120k $. pic.twitter.com/vN8LuRGlLM
— CryptoWolf (@IamCryptoWolf) November 27, 2019
Bitcoin Cash News
Roger Ver, the former Bitcoin.com CEO, shared at CNBC’s “Power Lunch” segment about the recent decline in cryptocurrencies, seeing digital assets drop by more than 50% in the past few months.
— Power Lunch (@PowerLunch) November 27, 2019
He is quite optimistic, citing the old stock market adage that wise investors should be greedy when others are fearful and frightened when others are greedy, seemingly related to affection. be quoted that Bitcoin can drop to $ 1,000 or even $ 0 from here.
As a BCH proponent, it’s not surprisingly old when Ver continues to promote cryptocurrencies. He thinks that Bitcoin Cash – currently trading at $ 220 – could increase by 100,000%, meaning the market capitalization of the asset will be at $ 4 trillion – making it one of the largest currencies.
Omni, a startup that Ripple has funded with $ 35 million, has ceased operations and many of its engineers were acquired by Coinbase after failing in business.
Omni is a startup that exists as both a physical storage provider as well as equipment rental services. An anonymous source said that this $ 35 million startup had difficulty scaling its business model.
In the course of the startup’s life, a number of factors made the operation difficult and contributed to closure, including an increase in on-demand storage prices and logistics for rental items.
Ripple has funded Omni with $ 35 million in early 2018, along with other major investors including Flybridge, Highland, Allen & Company and Founders Fund.
Cardano has recently been at the forefront of innovation in the cryptocurrency space, with many in the developer community providing newer use cases for the ADA ecosystem. In another achievement for the ecosystem, IOHK’s Charles Hoskinson stated that Haskell Cardano 1.0 was pushed to the relays and OBFT hard fork to the Core nodes.
We’ve begun pushing Haskell Cardano 1.0 to the relays and after the OBFT hardfork to the Core nodes. It’s a major milestone. Check it out: https://t.co/YwtE8EM784 https://t.co/xQ4G07sDl8 https://t.co/8Q1PGAFgwQ some of the Haskell code ever written. Proud of the team pic.twitter.com/BBXpwf8H46
— Charles Hoskinson (@IOHK_Charles) November 26, 2019
In addition to releasing Cardano 1.0 for relays, Hoskinson also mentioned that the release will also be provided to the new core nodes of the ecosystem after the completion of OBFT hardware.
Also, it’s important to note that this release goes well beyond the Haskell application as it serves as a reference code for how the application should be built into Haskell.
According to data from BitInfoCharts, Litecoin’s hash rate continues to decline. Figures show that miners who power the network are deciding to shut down their rigs for the time being.
Despite the decrease, LTC’s operating profit has been more stable after the halving event in August, leading to miner’s block reward has been halved.
Monero, one of the world’s leading interchangeable and privacy cryptocurrencies, is poised to make a monumental anti-ASIC move since RandomX is expected to roll out by the end of November 2019. With a network-wide upgrade coming soon, Cake Wallet, Monerujo and Ledger Monero have begun releasing newer versions of their software, to support the hard fork.
RandomX, a new Proof-of-Work algorithm, will focus on general-purpose CPUs to help people from all walks of life in XMR mining operations. RandomX will replace CryptoNight R later this month.
According to the Cake Wallet developer’s statement on Reddit, an upgrade to the new version, i.e. Cake Wallet Version 3.1.21, is required before November 30.
Monerujo, another popular Android-based wallet, has also released a fork support update.
The GUI v0.15.0.1 Carbon Chamaeleon major release was carried out on 24 November 2019. The Ledger Monero App 1.4.2 [for Nano S and Nano X] and the BitHash Monero node update have also been deployed.
With the advent of soaring transactions in recent times, CPU prices have skyrocketed.
The supply of EOS in the REX group has also been exhausted. Stakeholders are quickly withdrawing their EOS coins from REX, a development that has exacerbated the problem.
Block.One’s Daniel Larimer has suggested the arrival of a new proposal to address resource-related issues that have been plaguing the main network for weeks.
My upcoming blog post will outline a new approach to cpu on #eosio that will bring price stability and should dramatically lower cpu costs while making allocation predictable. It’s simple and easy to understand. It should provide a sustainable way forward for the community.
— Daniel Larimer (@bytemaster7) November 25, 2019
If this proposal is successfully implemented, there will be a cost-effective solution for all EOSIO users.
In another news, Block.One’s venture capital arm announced its decision to invest in Biscuit, the developer in charge of EOS Knights. This is the first game to run on the EOS series. Mike Alexander of EOS VC has decided to move forward with this investment to promote the blockchain game industry.
Kraken announced today that it has joined the Silvergate Exchange Network (SEN) to give its customers more choices when they manage their assets.
We are pleased to announce that Kraken has joined the Silvergate Exchange Network (SEN). Details here: https://t.co/NbU3pIErB6
— Kraken Exchange (@krakenfx) November 27, 2019
Developed by Silvergate Bank in California, SEN allows deposits and withdraws of U.S. dollars in real-time. Now that Kraken has become a part of the network, customers can take advantage of SEN to fund their Kraken account at any time without charge, according to Kraken’s official statement.
Klaytn, a prominent blockchain project led by South Korean internet giant Kakao, is one of these new projects. Kakao has now launched and publicly revealed its ambition to become the world’s largest public blockchain on a global platform.
At the first Klaytn Board of Directors Summit held in Seoul on November 28, CEO Kakao Yeo Min-soo announced that Klaytn’s expansion would gradually spread despite the current focus. in Asia, eventually becoming the best global blockchain platform.
Also at the conference, Han Jae-sun, CEO of Ground X, developer of Klaytn, confirmed that Klaytn far surpassed Facebook’s Libra in developing its network.
Klaytn currently has around 27 companies for the Board of Directors and boasts a combined valuation of over $ 59 billion. This council will be the decision-making body for the Klaytn ecosystem.
SBI Investment, the asset management subsidiary of SBI Holdings has announced a seven-figure investment for Securitize, a digital securities platform. It is still unclear how much Securitize has raised during the extended funding round of Round A.
Backed by Coinbase, Securitize has a digital security protocol that enables compliant private equity trading on public blockchains and multiple exchanges. In addition to Coinbase Ventures, the company has attracted investors including Blockchain Capital, Xpring of Ripple, Japanese firms MUFG Innovation Partners, KDDI Open Innovation Fund, and 31Ventures.
Zilliqa, a high throughput distributed ledger technology, has partnered with London-based blockchain analysis firm Elliptic to use the latter’s toolkit to enhance security and prevent money laundering. Its platform, Tokenpost reported on November 27, 2019.
We are thrilled to announce we’ve joined hands with @elliptic to benefit from their world-class risk management and AML compliance tools. These will make our blockchain and all tokens built on it safer. $ZIL $XSGD @xferspay #BuildonZIL #StraitsX
— Zilliqa (@zilliqa) November 27, 2019
The use of these tools will help reduce the exposure of the Zilliqa ecosystem to fraudulent financial activities, by identifying, blocking and investigating illegal transactions on the platform.
Elliptic’s tools will also reduce Zilliqa’s native altcoin ZIL vulnerability to phishing activities because Elliptic’s highly functional blockchain transaction monitoring service will be used to verify the legality of transactions that occur on the Zilliqa blockchain.
Moreover, this service will also help block potential transactions from being linked to bad actors and flag wallet addresses with illegal and suspicious motives.
MakerDAO President and COO Steven Becker recently shared about their multi-collateral DAI (MCD) token. The MCD comes with the highly anticipated DAI Savings Rate (DSR) mechanism. This allows DAI owners to lock their tokens in a smart contract and earn them for the time being.
November was a historic month for the Maker community!
From the Multi-Collateral #Dai launch to Governance updates, to an Oasis revamp and more, get all caught up with the latest Making Maker:https://t.co/oV2wKCaQCQ#MuchCoolerDai ?
— Maker (@MakerDAO) November 27, 2019
Poloniex exchange recently acquired the DEX platform powered by TRON to provide decentralized trading. All features of TRXMarket will remain the same under the new name Poloni DEX and users will have direct access to decentralized trading services through the exchange’s official website.
DEX allows users to trade while keeping their private keys secure instead of handing them over. According to the blog post, Poloniex bought TRXMarket to expand its decentralized trading system and diversify trading options for its users. This is a long-term strategy that Poloniex has implemented since 2018.
??? It is our privilege to acquire TRXMarket as base for @PoloniDEX
• complements our strategic growth plan
• represents big step toward Polo integration w/ @Tronfoundation
— Poloniex Exchange (@Poloniex) November 27, 2019
Skrill allows buying all available Altcoins with Bitcoin
Global payment provider Skrill has announced that it is adding a new feature that will allow the purchase of all cryptocurrencies available on the platform directly with Bitcoin. With this announcement, they have eliminated the need to convert cryptocurrencies into fiat for purchases.
Buying and selling #crypto with Skrill just got even better. ?
Introducing crypto-to-crypto – a new feature that lets you use your bitcoin balance to buy and sell the other 8 cryptocurrencies we offer.
— Skrill (@skrill) November 28, 2019
The press release stated that a similar feature would be added to add to NETELLER wallet in the next few months.
Paysafe’s Skrill launched the cryptocurrency service in July 2018, giving its customers the opportunity to buy “interest” in various digital assets, including less popular altcoins like Ethereum Classic. and 0x, with the local currency and hold interest.
The obvious downside is that you don’t really own your money, but instead are held in a pooled account.
Ghana announces plans to issue its own Cedi-backed crypto
On November 27, Ghana’s central bank governor, Ernest Addison, hinted at the country’s ability to issue a digital form of the national currency, Cedi, in the near future, according to a report.
The decision to release Cedi Digital is in line with efforts to promote electronic payment systems in the country such as mobile phone money. Governor of money transfers has increased 70 percent from 2017 to 2019, the governor noted.
To further encourage the sector, Addison said he authorized the central bank to issue mobile money backed 1:1 by Cedi, held in an e-wallet before the announcement.
The Swiss government removes the legal barrier for blockchain development
At a meeting on November 27, the Federal Council, the governing body of the federal government, approved a proposal to improve the legislative framework for the nascent technology industry.
According to a statement from the Swiss federal finance ministry, the move aims to “increase legal certainty, remove barriers to the distributed ledger (DLT)-based applications, and reduce risk of abuse.”
Switzerland has been known as a cryptocurrency and blockchain-friendly country, with the Zug region acting as the “host” for a large number of technology companies. Facebook also chose Switzerland as the home of the Libra Association.
Hackers are conducting a “coding campaign” in bulk
A hacker group launched a new “encryption campaign” on November 24, scanning 59,000 IP addresses to find Docker platforms with API endpoints displayed online.
The campaign is targeting vulnerable Dockers to deploy malware to help the hacker group exploit Monero.
The large-scale scan problem of hackers was first discovered by internet security company Bad Packets LLC on November 25.
The Afghan government applies Blockchain in the field of national healthcare
The Afghan Ministry of Health signed a Memorandum of Understanding (MoU) with blockchain company Fantom Operations to integrate blockchain technology into the country’s healthcare sector.
According to the November 27 report, the terms of the MoU will help bring blockchain technology into the process of identifying fake drugs, creating hospital medical registrations and digitizing patient information.
Both the government and the public have expressed concern about the volume of counterfeit pharmaceuticals in the country as well as many citizens now using traditional medicine due to its low price due to limited access to drugs.
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