Crypto Brief Nov. 30: Bitcoin bulls attempts to boost ‘mega bull run’ plus Ethereum, EOS, Tron, Cardano, USDT, Bitcoin Cash, Huobi news
From the mega bull run potential of Bitcoin to Cardano’s upcoming ‘data dump’. These are some of the prominent news in the crypto space.
The bitcoin price has remained in a bear market going on for the past two years, despite a strong effort to break out of it throughout 2019.
After the crypto asset bottomed out at $ 3,100 in December 2018, the Bitcoin price continued to rise until it finally encountered resistance at the all-time high, where it suffered from declined back to the downtrend.
After Bitcoin fell through the support of $ 6,000 in November 2018, the price fell below the 2 years Exponential Moving Average (EMA). It regained its moving average multiplier in May and supported BTC for the rest of the 2019 rally.
1/ Looks like Bitcoin is trying to get back above the 2yr MA after it dipped below it in the past week when price capitulated.
Would be very bullish if we can get a few days closing back above that level.
Until then, cautious optimism (as it was a promising capitulation). pic.twitter.com/nk1njCZusk
— Philip Swift (@PositiveCrypto) November 29, 2019
The re-checking of the EMA occurred right where the BTC turned up coincided with the Chinese pump when President Xi Jinping commented that Blockchain was groundbreaking.
Bitcoin has broken below the EMA again recently and is currently making another attempt to once again break out above it.
Analysts now note that Bitcoin is clearly changing the recent downtrend to favor the bulls, which could mean a further imminent price increase for cryptocurrencies.
In the short term, analysts predict that cryptocurrencies will see higher returns.
HornHairs, a popular analyst on Twitter, said that he believes Bitcoin will mine the next $ 8,000.
$BTC gameplan remains the same
I won’t be shorting these levels blindly, rather waiting for support to fail on a retest. On the other hand, expectation for longs to be the higher probability play remains in tact.
Next target = $8k pic.twitter.com/9Gu5EOgc3Q
— HornHairs ? (@CryptoHornHairs) November 29, 2019
Alex Krüger, a well-known economist who focuses primarily on cryptocurrencies, explained that Bitcoin is currently showing clear long-term bottom signals.
“My current $BTC roadmap. Should be obvious why I believed $8000 “will trade again soon”, it’s where downtrend accelerated. The bottom is textbook perfect, many people quit in rage, Bitmex funding about to turn positive. Nothing to chase if not long IMHO”.
My current $BTC roadmap. Should be obvious why I believed $8000 “will trade again soon”, it’s where downtrend accelerated.
The bottom is textbook perfect, many people quit in rage, Bitmex funding about to turn positive.
Nothing to chase if not long IMHO. pic.twitter.com/uPzJpKqd6f
— Alex Krüger (@krugermacro) November 29, 2019
If Bitcoin can regain EMA and break above the $ 8,000 in the near term, this will be a bullish signal for BTC and potentially push No.1 into a new bull cycle.
Whale transferred BTC
The transfer of BTC was still quite exciting when the price showed signs of recovery and moved to the area of $ 7,700.
Over the past 20 hours, 7 deliveries have been made. Only one transfer is made between the two exchanges. The remaining six transfers are made between the exchange and the unknown wallet.
Source: Whale Alert/ Twitter
Ethereum, EOS, Tron News
The dollar value of crypto that flows through decentralized applications (DApps) based on EOS has surpassed both Ethereum and Tron.
There was $ 10.9 million worth of EOS transferred via DApps on the network over the past 24 hours, whereas, there were only $ 3.1 million TRX and $ 3 million ETH on their respective networks, according to data from DappReview.
#DApp Daily Report:
— DappReview (@dapp_review) November 29, 2019
Huobi Russia, a franchise of Singapore-based cryptocurrency exchange, has launched deposits in Russian rubles and will soon have its own exchange launchpad token.
Starting Thursday, Huobi Russia users have the option of depositing Russian rubles on their balances via bank transfer, the exchange announced Thursday at an event in Moscow.
The deposits will be processed through a bank in Uzbekistan, where HBRU CIS, the entity of Huobi Russia, has received a letter of approval from the country’s Ministry of Justice, Huobi Russia CEO Vladimir Demin said at the event.
Whale Alert has just reported on the last two USDT transfers today.
The first is 10M USDT (~ $ 10M) transferred from Bitfinex to Huobi for a fee of $ 0.12, which takes place on the Ethereum blockchain.
— Whale Alert (@whale_alert) November 29, 2019
Several hours later, 29.8M USDT (~ $ 29.9M) was transferred from an unknown wallet to Bitfinex, which took place on the Tron blockchain.
— Whale Alert (@whale_alert) November 29, 2019
The Cardano Foundation is sprinting to release Shelley’s incentivized Testnet on December 9. This will be a completely new software based on Jormungandr version 8.
IOHK, Cardano’s parent company, confirmed a successful snapshot of the recommended testnet on November 29. At that time, IOHK CEO Charles Hoskinson asked the user to transfer their ADA tokens to Daedalus or Yoroi wallets.
In his latest AMA session, Hoskinson revealed an upcoming ‘data dump’ on December 5 and basically that will be all you need to know to be able to use testnet effectively as well as economic parameters.
Bitcoin Cash News
Bitcoin Cash participants are always drawn to zero-confirmation transactions and concepts such as proof of double-spending that can strengthen instant transactions.
Although it’s uncommon, double spending on digital currencies like BTC, BCH, and BSV can occur. The website doublespend.cash tracks the efforts and double expenditures of success for the Bitcoin Cash blockchain.
Redditor named Dagurval, Bitcoin XT software developer and creator of the data site, explained on Thursday that for double-spending to succeed, they had to be sent simultaneously.
Only 1 out of 1,104 double-spending attempts were successful when it aired more than 1 second later. “The chart ‘Time between first seen and second seen’ shows the time difference between viewing first transactions and double-spending. It proves that in most cases, only simultaneous sending can double your spend successfully”, Dagurval told BCH supporters.
Cisco targets 5G network security with blockchain
The networking technology giant Cisco has won a detailed patent on how it can leverage blockchain to secure data in 5G telecommunications networks.
The San Jose, California-based company filed a patent application in June 2018 for a blockchain platform that can be naturally integrated into wireless networks, according to a Nov. 26 file from U.S. Patent and Trademark Office (USPTO).
The blockchain platform aims to manage data sessions between device users, such as phones or laptops and virtual networks. Therefore, the new technology can partially manage data exchange between the network and connected devices via the blockchain interface.
US citizen arrested for presentation on blockchain and crypto in North Korea
On November 30, U.S. prosecutors announced the arrest of Virgil Griffith, who allegedly went to the Democratic People’s Republic of Korea (DPRK) to lecture on how to use cryptocurrencies and blockchain technology to Avoid the sanctions.
Griffith, 36 yrs, was arrested at Los Angeles International Airport and will be charged with conspiracy to violate the International Emergency Economic Powers Act (IEEPA), per the announcement on November 29. The offenses have a maximum term of 20 years in prison.
The IEEPA prohibits any US citizen from exporting any goods, services or technology to the DPRK without a license from the Department of the Treasury, Office of Foreign Assets Control.
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