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Quietly, subtly, and without contest, Ethereum is currently under a sustained attack that has been ongoing for months. Long considered the king of the dApps, Ethereum is the one that other blockchain platforms seek to dethrone in their own attempts at ascension. Hence the well-known term – Ethereum Killer – which is often self-applied by ambitious crypto projects looking to punch above their weight. While those punches have thus far failed to land, it looks like Ethereum is now being assaulted on a completely different front by an unexpected foe: Binance. The Binance cryptocurrency exchange now apparently refuses to list new tokens against ETH on its platform, and in some cases has even removed ETH trading pairs. That’s while Binance Chain continues to entice Ethereum-based projects to migrate to its blockchain – with the promise of an exchange listing they would never otherwise have had. Is Binance quietly trying to make Ethereum an “un-crypto?” Let’s review the available evidence. Binance Goes Cold on Ethereum The Binance official announcement blog details new coin listings going back the previous several months. During that time, many new coins have been added to the Binance exchange. Some of those were launched on Binance Chain, and others moved there from Ethereum. The earliest example we have is the listing of Ontology Gas (ONG) on February 15th. As per the announcement, ONG/BNB, ONG/BTC, and ONG/USDT trading pairs were launched. The next coin listing came on March 23rd, when Celer Token (CELR) – a Binance Launchpad project – was listed on the exchange. Once again, we have CELR/BNB, CELR/BTC, and CELR/USDT trading pairs. Just bear in mind at this point that Ethereum is the second most traded cryptocurrency (excluding Tether) in the world, and has been for a very long time. Next, we have the listing of Cosmos (ATOM) on April 28th, where again the token is launched with the same BNB, BTC, and USDT trading pairs. Still no sign of Ethereum as we wade through more recent listings up to the present. Out With the ETH, in With the New All this time, all these new listings, and still no sign of Ethereum. Being the second most traded cryptocurrency in the world, why wouldn’t an exchange want a piece of all those ETH trading fees? Yet not only has Binance declined to entertain ETH trading for newly listed coins, but it’s also even gone so far as to remove it as an option. On May 20th, Red Pulse Phoenix (PHX) (formerly of the NEO platform) migrated to Binance Chain and immediately had its PHX/ETH pair removed. When PHX was rather gaudily rebranded into Red Pulse Phoenix Binance (PHB), it was relaunched with new trading pairs, as per this announcement: “Additionally, Binance will open trading for PHB/BNB, PHB/BTC, PHB/USDC, PHB/TUSD and PHB/PAX trading pairs at 2019/05/24 04:00 (UTC). Once trading opens, the previous PHX/BNB, PHX/BTC and PHX/ETH trading pairs will be removed and delisted.” All of this comes six months after the ETH ticker that sits atop the Binance trading page was removed, and replaced with the label, “ALTS” – denoting altcoins in general. War Games Despite evidently giving Ethereum the cold shoulder, Binance founder and CEO Changpeng Zhao (CZ) denies any ill-will on his part. CZ has stated publicly that he wishes to see Binance and Ethereum “grow together.” When it was put to CZ that the launch of Binance’s own decentralized exchange stood as a challenge to Ethereum’s DEX dominance, he shrugged off the suggestion: CZ’s polite public persona is in stark contrast to that of the founder of Ethereum, Vitalik Buterin. Buterin has been ringing alarm bells about the overwhelming centralization of power by crypto mega-exchanges for some time. As the largest exchange in the world, Binance defines that category. Buterin recently referred to Binance’s sudden delisting of Bitcoin SV (BSV) as one in a long line of examples of the arbitrary exaction of power: “They’ve asked for big listing fees. They influence which coins win and lose by deciding which trading pairs they have – so it’s weird to criticize that one decision (the delisting) without looking at all their others.” Motive: Why Would Binance Assault Ethereum? While most don’t want to rock the boat, Buterin is one of the few crypto personalities to openly criticize exchange listing fees. Binance was not named directly; however, the exchange has previously been accused of such bribery by a respected, community driven (not rich) cryptocurrency project (Binance denied the allegations and has since begun donating listing fees to its charity). Buterin has decried the “king-making” power of these trading platforms in the past, saying in 2018 that he “hoped centralized exchanges burn in hell,” adding: “We can really take away this stupid king making power that these centralized exchanges have where they have this ability to just decide which tokens become big by deciding to list them and then charging these crazy $10 million to $15 million listing fees. The more we can get away from that world and into something which actually satisfies the blockchain values of openness and transparency the better.” Could CZ’s quiet deletion of Ethereum pairs from his trading platform be an act of petty revenge in retaliation against such comments? The King is Dead; Long Live the King Or could it be something far more devious? The strategy: Offer projects the chance to migrate to Binance Chain, give them juicy trading pairs on the largest exchange in the world, and benefit from all the new network fees, and trading fees. Meanwhile, slowly strangle access to ETH trading pairs and funnel all newly listed tokens towards your own Binance Coin (BNB). Rather than petty grudges, this would seem a more likely motive for the current assault Ethereum finds itself under. And of course, the foundations and companies behind the projects which migrate to CZ’s chain must naturally be made aware that they won’t be given ETH trading pairs. None have spoken publicly about this so far. In short, the Ethereum Killer might really be here, and its name is Binance. Disclaimer: The views expressed in the article are solely those of the author and do not represent those of, nor should they...

#ethereum

Since June 26, within the past three weeks, the bitcoin price has declined from $13,868 to around $11,200 by 20 percent against the U.S. dollar. After recording a 250 percent increase in value year-to-date at its yearly peak, a pullback for bitcoin was generally anticipated by traders. Following its 20 percent decline, fundamentals for the dominant crypto asset remain strong as seen in its hash rate achieving an all-time high. What does all-time high bitcoin hash rate indicate? Since January 2019, the hash rate of the Bitcoin blockchain network has increased from around 35 exahash to nearly 75 exahash, achieving an all-time high in about ten months. Up until December 2018, bitcoin mining was not profitable for most miners, even for large institutions running large-scale centers with long term commitments for cheap electricity. As the bitcoin price began to spike in April and eventually achieved a yearly high at around $14,000, the hash rate of the Bitcoin blockchain network surged, doubling in merely three months. The spike in the hash rate of a blockchain network is often considered an important indicator of strength because hash rate represents the amount of computing power that protects the network. A consistent increase in the hash rate also indicates that a growing number of miners are committing more resources in mining the asset, suggesting that miners anticipate the bitcoin price to increase over the medium to long term. Speaking to CNBC’s Fast Money, BKCM CEO Brian Kelly stated that miners he spoke to said they have acquired enough capital to fund their operations throughout the upcoming year without selling bitcoin, expecting the network to undergo a block reward halving in May 2020. “I’ve talked to a lot of miners around the world, a lot of them have said they have sold enough bitcoin to get us through the next year or so and we are going to hoard bitcoin at this point in time and we are not going to sell it and the supply of bitcoin will get cut in half. Just real simple economics: lots of demand hitting little supply, price goes higher,” Kelly said. When a proof-of-work (PoW) blockchain protocol undergoes a block reward halving, the rate in which its native crypto asset, which is BTC in the case of the Bitcoin network, is reduced by half. As such, upon the occurrence of halving, the circulating supply of bitcoin at conventional exchanges and over-the-counter (OTC) exchanges drops, which historically has acted as a catalyst for bitcoin and the rest of the crypto market. Halving is the next big narrative There are several solid fundamental factors in the likes of rising hash rate, a growing number of trading venues, and increasing inflow of institutional capital that are considered as potential catalysts of bitcoin. But, as the market nears the end of 2019, the narrative of the block reward halving is likely to strengthen, which studies done by investment firms such as Grayscale have found that many investors are not aware of. “The halving is close enough that it’s time to start talking about it more seriously, but far enough out in the future that it’s unclear whether it’s priced into the market efficiently. In fact, based on anecdotal conversations with market participants, we were surprised to learn that many of them were not even aware of this event,” a Graysacle report read. Click here for a real-time bitcoin price chart.

#bitcoin

Bitcoin in Precarious Territory Last week, Bitcoin (BTC) bulls suddenly lost steam, resulting in a $4,000, 30% collapse for the leading cryptocurrency. While this made countless analysts bearish, with some even calling for a return to $6,000, BTC bounced back. Hard. In the day or two following the move to $9,700, Bitcoin shot back up to five digits, even flirting with the $12,000 resistance for a short period of time. This, like the previous strong move, has resulted in a sentiment change market-wide. In fact, some optimistic commentators are already eyeing $20,000, expecting for the cryptocurrency to breach that level now that they see a deep correction is off the table. According to Filb Filb, a popular analyst, however, this hope may be materializing a tad too early. In a recent tweet, he explained that Bitcoin is seemingly in a “spot of a bother”. What he is referring to is the fact that Bitcoin’s four-hour chart is currently exhibiting an inverted Head & Shoulders formation, all while BTC’s price action has been resisted by a “sloping bearish neckline”. Filb notes that historically, such patterns on the charts of assets see bulls fail to step up to the plate. An excerpt from a technical analysis book that Filb cites reads: A “drooping” neck line on a Head and Shoulders top is usually indicative of rapidly developing technical weakness. Such a drooping line, of course, produced when prices drop down from the head to a lower level than the neck base previously formed between the left shoulder and the head. While he didn’t convey an exact price prediction, he did note that the price action from the local top of $13,800 to now looks eerily like “the bottom bounce from $3,000”. If the same price action plays out on the current chart (fractal), Bitcoin will trade between $10,700 to $11,000 for the next few days, collapse to $9,900 by mid-July, and then recover into August. Funnily enough, some have taken the same technical pattern on Filb’s chart to mean something bullish. As Nunya Bizniz points out , the pattern, if broken above, could result in Bitcoin price appreciation to $14,000, not a depreciation to $9,900. And while this seems unlikely, especially considering Filb’s harrowing comment, there may be fundamental reasons to suggest BTC will head higher shortly. These reasons include the asset’s correlations with gold & safe-haven currencies, implying that Bitcoin is a proper store of value; a series of crypto services providers securing licenses for Bitcoin futures; an increase in institutional investment; and similar FOMO caused by an influx of retail hype and mainstream media coverage. These reasons include the asset’s correlations with gold & safe-haven currencies, implying that Bitcoin is a proper store of value; a series of crypto services providers securing licenses for Bitcoin futures; an increase in institutional investment; and similar FOMO caused by an influx of retail hype and mainstream media coverage.

#featured

EOS price declined heavily and settled below the $6.200 and $6.000 support levels. EOS could continue to move down considering there is an increase in selling pressure on bitcoin, ETH, XRP and litecoin. Key Talking Points EOS price started a major decline after it broke the $6.800 support area (Data feed of Kraken) against the US Dollar. There is a major bearish trend line forming with resistance near $6.115 on the 4-hours chart. The price is likely to decline further as long as there is no close above $6.000 and $6.200. EOS Price Analysis In the past couple of days, there were major downsides in bitcoin, EOS, Ethereum and litecoin against the US Dollar. EOS price broke the key $6.800 support area to enter a bearish zone. The chart above indicates that EOS price started a major decline from the $7.600 swing high and broke a crucial bullish trend line near $7.200. Later, the price broke the $6.800 support and settled below the 100 simple moving average (4-hours). During the decline, the price even broke the key $6.000 support area and tested the $5.600 zone. A swing low was formed near $5.520 and the price is currently correcting higher. There was a break above the $6.000 level and the 50% Fib retracement level of the recent decline from the $6.383 high to $5.520 low. However, the price struggled to clear the $6.100 resistance area. Moreover, there is a major bearish trend line forming with resistance near $6.115 on the 4-hours chart. The 61.8% Fib retracement level of the recent decline from the $6.383 high to $5.520 low is also acting as a resistance. Therefore, a successful break above the $6.000 and $6.110 levels is needed for a fresh recovery. The next major resistance for EOS is near the $6.350 and $6.400 levels. Overall, EOS price is clearly trading in a bearish zone below the $6.000 and $6.110 levels. As long as there is no proper close above the $6.200 pivot level, there is a risk of more losses below $5.600 and $5.500. The market data is provided by TradingView.

#xrp

Joe Robbins describes himself as a serial experimenter. He took on cryptocurrency trading in the summer of 2017 as part of his practical course in crypto investing. In July 2017 Joe bought Bitcoin at $2300. In early August 2017, BTC prices hit $3105, then $3,335. This gain was beyond his 35% stop gap threshold. Not to let the bullish market manipulate his emotions further, he sold his Bitcoin and reinvested his capital and gains on Ripple. But the BTC rally did not stop hitting highs of $19,783 by the end of that year. Joe did feel like an idiot for switching his assets to XRP. Good advice however from a fellow investor did calm him down. Hold on Tight to Your Bitcoin Bitcoin diehards, however, believe that with BTC trading, the rules should be a tad different. Unless you are a patient investor and HODLer, you will lose out on gains. Bitcoin prices have gone as low as $3,930 in February 2019, so unlike Joe Robbins, anyone who bought them at their highest has been through a tough time financially. However, currently trading at $5,869, yet another BTC rally gong has been sounded. Bitcoin price analysts are now speculating that bitcoin is capable of a rise to $11,500 by the end of the year having broken its $4,500 resistance level. The analysts claim that if BTC breaks the oncoming $5,800 resistance, it will be well on its way to the $10,000 price range. One Bitcoin bull adds that “3 years from today, you will regret not buying bitcoin under $10k.” What Is Behind the Bitcoin (BTC) Enthusiast’s Optimism? Much of this bullish sentiment is not just pegged to market analysis but on the exciting happenings around the token. Fidelity Investments, a Wall Street asset giant, for instance, is bringing its $7 trillion asset base to Crypto trading. Just as a primer, Fidelity is launching a crypto trading platform with the intention of assisting institutional traders in accessing Bitcoin trading. Arlene Roberts, the asset company’s spokesperson, said: “We currently have a select set of clients we’re supporting on our platform. We will continue to roll out our services over the coming weeks and months based on our clients’ needs, jurisdictions, and other factors. Currently, our service offering is focused on Bitcoin.” Mati Greenspan, an analyst at Etoro, advice that Fidelity’s Digital Asset Services is going to further financialize and make BTC trading more robust. He has also stated that if Fidelity injects a paltry one percent of their cash flow to crypto, then BTC will probably increase its price by “$1,000, $2,000, easily.” What about the ongoing altcoin season? Heisenberg Capital strongly advises against them, saying that they are “doubling down on Bitcoin Maximalism with new capital.” Heisenberg has funded some of crypto’s largest startups including Shapeshift, Kraken, and BitFinex and has sounded the death knell for altcoins. “As BTC climbs toward our 2011 target of $100,000, we believe everything except BTC will die-off”, the firm tweeted.

#featured

By CCN.com: One of crypto’s biggest venture capital firms is going all in on bitcoin. Heisenberg Capital says it is “doubling down on Bitcoin Maximalism with new capital,” while sounding the death knell for altcoins. In the same tweet, Heisenberg Capital reaffirmed its $100,000 price target on bitcoin, a 1,664 percent premium on today’s bitcoin price. “EVERYTHING EXCEPT BTC WILL DIE OFF” The fund, which has financed some of the biggest crypto startups included Kraken, Bitfinex, and ShapeShift, predicts there’s no future altcoins. Ethereum, XRP, and this year’s best-performing alt-coin BNB, it says, will be rejected by the market. Heisenberg founders Max Keiser and Stacey Herbert claim their bitcoin maximalism is a long-held philosophy. Now, that concept will be the sole driving force behind their investment decisions. Per Keiser’s tweet above, he believes bitcoin will decouple from alt coins and increase its dominance. BITCOIN PRICE WILL RAGE TO $100,000 Heisenberg also took the opportunity to double down on its optimistic bitcoin price target of $100,00. Keiser says the bullish surge to $100k will be driven by a supply shock. Bitcoin’s capped supply of 21 million will inevitably trigger a gold rush as supply diminishes. This theory will be tested in May 2020 when the bitcoin output will be halved. Historically this four-year “halving” triggers a huge run-up in prices which begins a year in advance. If Keiser is right, that’s a 1,664 percent gain from today’s price ($5,668 at the time of writing). Keiser also holds a shorter-term prediction of $28,000. BITCOIN DOMINANCE? NOT EVERYONE AGREES Heisenberg’s tweet triggered a strong response from those quick to disagree. One commenter pointed out that alt coins drove the 2017 rally, with bitcoin falling outside the top-ten performers. Other rejectors compared it to the market for tech companies: “That’s like saying everything but Google.com will die off.” The stance also seems at odds with what’s known as “altcoin season,” a period in which altcoins surge in value before a wider crypto market bull run. WHAT ABOUT HEISENBERG’S INVESTMENTS? The fund’s prediction that “everything except bitcoin will die off” seems somewhat strange given some of the firm’s investments. One of its biggest-name investments is ShapeShift – an exchange designed to exchange between bitcoin and altcoins. The firm has also invested directly in alternative blockchain projects including Storj, Startcoin, and EOS.fish. It looks like Heisenberg will pivot away from any altcoin investments in the future and focus solely on bitcoin going forward.

#major-crypto

Litecoin (LTC) up 6.1 percentCharlie Lee thought LTC would rally to $1,000 In a podcast, Charlie Lee now reveals that he thought Litecoin (LTC) would surge above $1000. All the same, by profitably exiting at the height of the Great Bull Run of late 2017, he reaped huge despite all the criticism from the community. At spot rate, Litecoin (LTC) is up 6.1 percent in the last week. Litecoin Price Analysis Fundamentals Year-to-date, Litecoin, and Binance Coin are perhaps the top two performing assets with triple-digit gains. However, it is the founder Charlie Lee who lights up the scene as he supports the coin. Even so, note that the co-founder did liquidate a big chunk of his LTC holding, selling at the peak of late 2017 super rally while simultaneously issuing a warning to Litecoin (LTC) investors urging them to invest if they are ready for a 90 percent plus drop. True to his words, Litecoin (LTC) and the crypto market, in general, slid, with altcoins losing more than 85 percent of Dec 2017 prices. Nonetheless, leading in the recovery is Litecoin. Although Charlie Lee now admits that he thought the coin would rally to $1000, it is the coins hash rate that is improving by the day. There are several factors behind Litecoin (LTC) resurgence. One of them is Bitcoins prices bottoming up. As they have a positive correlation, the rise of the former mean Litecoin stands to expand. However, it is early August Litecoin halving that is drawing demand for the asset as investors prepare for scarcity. Candlestick Arrangement Price wise, Litecoin (LTC) is up 6.1 percent in the last week. From price action, bulls are in charge as long as prices are trending above $50. Since buyers are in control after reversing losses of Q4 2018 and the sell-off from mid-April to early May did cool off prices, traders can load up in dips with first targets at $100, our next resistance level marking Apr-3 highs. Buyers are back thanks to the Apr-30-May-1 double bar bull reversal, and with the reaction from the 78.6 percent Fibonacci retracement level of Apr-2-3 high low signaling trend continuation, traders should fine-tune entries in smaller time frames as they aim at $100. Technical Indicators From above, May-3 bull bar is our anchor. With above average volumes216k versus 174k, the candlestick confirms the double bar bull reversal of Apr-30-May 1 while simultaneously triggering buyerswaiting for Apr-2 mirrorsinto action as the next leg up towards $100 is likely in motion. However, for buyers to be in control, then volumes clearing the $80 mark must be with high volumes exceeding 216k of May-3. Charts courtesy of Trading View The post Will Litecoin (LTC) Rally to $1,000 After August 2019 Halving? appeared first on NewsBTC.newsbtc

#ltc

The weekend has started with a bang in the crypto world as Bitcoin breezed past resistance again to post a new 2019 high. The action has had the effect of pushing total market capitalization up to its highest level for five months. Bitcoin Bulls Are Back Just when it looked like more consolidation was on the cards Bitcoin surged past resistance at $5,600and hit a new 2019 high of $5,880 a few hours ago according to Coinmarketcap figures. Trading in Asia has pushed volume up to almost $20 billion which is higher than the entire market volume was a couple of months ago. The big push as resulted in a 4% gain on the day for BTC which is very likely to hit $6,000 in the next few hours. The sentiment is bullish all round as analysts chart further gains for Bitcoin; Over the past seven days Bitcoin has gained 11% and since the beginning of the year it is up a whopping 55%. Not bad for an asset that bankers, politicians and ageing billionaires had written off. Markets have shrugged off the negative news regarding the Tether imbroglio and pushed even higher, defying expectations of a drop. The trend now is clearly up and is has been for the best part of this year. Economist Alex Krüger commented on the current push stating that there is not far to go before we are “BTC now at $5750, the 2018 low prior to the November crash. The 2018 bear trend ended once above $4200. Above $6400, 2018’s most traded price, it’s a bull market.” Heavy resistance also lies around the $6,000 level so a push above it will not come easily. There may be several months of consolidation around here as markets did last year before moving in the other direction in mid-November. Bitcoin’s bullish upside swing has taken its market cap back over $100 billion again. This has resulted in total crypto market cap reaching a new 2019 high of $188 billion a few hours ago. Over $8 billion has been added over the past 24 hours which has seen markets surge by over 4%. Altcoins are also having a solid day at the moment with big gains for Bitcoin Cash surging 8% and heading back towards $300, Litecoin making 5% up towards $80 and Bitcoin Gold with a 10% surge towards $20. The weekend has kicked off in the green and it is Bitcoin dominating once again.

#featured

Ripple (XRP) down 6.4 percent Low correlation with Bitcoin prices means XRP is the best diversifier Brad Garlinghouse must be happy, Ripple (XRP), a Binance research report reveals, has a low correlation with Bitcoin (BTC). Because of that, it is a good diversifier for investors willing to spread out their risks. Nonetheless, Ripple (XRP) prices are down, shedding 6.4 percent in the last week. Ripple Price Analysis Fundamentals Based on historical cryptocurrency market performance, diversification may, after all, not be ideal for investors. That’s what the last Binance report shows. Nonetheless, diversification remains a market strategy for many. For investors planning to spread out their risk in light of fluctuating asset prices, Ripple (XRP), Binance confirms, is the best diversifier. The conclusion is after a detailed study revealed that indeed, Ripple (XRP), despite its position as the third most liquid asset commanding a multi-billion market cap, has a low correlation with the king, Bitcoin. That’s unlike Ethereum (ETH) which moves in tandem with Bitcoin (BTC) prices. Even so, the team also found that, thanks to increasing listing and pairing, most crypto assets do correlate highly, syncing with Bitcoin pricesn. Considering his leanings and calls for de-coupling, this is good news for Ripple Inc CEO, Brad Garlinghouse. Earlier last year, he was quoted acknowledging that while he holds Bitcoin (BTC), he would like to see Ripple (XRP) prices remain independent, decoupling from Bitcoin. It is this independence that perhaps, would make the coin more attractive to financial institutions seeking for stability in a currency designed as a medium of exchange facilitator. Candlestick Arrangement From price action, Ripple (XRP) is lagging and back to red. In the last day and week, the coin is down 1.1 and 6.4 percent respectively, revealing low volatility visible in the past few months. Presently, the currency is ranging, retesting primary support at 30 cents. All the same, and despite yesterday’s bull bar, there has been no confirmation. Bulls are yet to break from bear clutches, but as long as 30 cents hold, there is a ray of hope for XRP bulls. Like in previous XRP/USD trade plan, we shall adopt a neutral to bullish stance aware that any surge above 34 cents shall trigger the first wave of buyers targeting 40 cents. On the reverse side, liquidation forcing prices to slip below our floors could indicate weakness as prices slide to 25 cents. Technical Indicators In light of the above and from candlestick arrangement, Apr-24-25 bears stand out. They have high transaction volumes—averaging 36 million. As such, gains above 34 cents or below 30 cents, confirming or canceling our bullish stance must be with high participation exceeding 17 million. Chart courtesy of Trading View.

#xrp

Bitcoin (BTC) may have collapsed by 7% last week off news that Tether’s USDT might not be entirely backed, but one long-term-centric analyst argues that technicals still look bullish for the asset. In a recent series of tweets, Dave the Wave, a popular trader that likes to focus on Bitcoin’s multi-year cycles, noted that long-term indicators are currently signaling that BTC is poised to break out. As seen below, Bitcoin recently rebounded off its 50-month moving average, which supported the value of BTC through the 2015 bear market. The last time such an event was seen, BTC stagnated for a number of months before running to establish a new all-time high. What’s more is that the crypto continues to trade above its long-term parabolic trend line, which BTC has traded around for most of its life as a liquid, tradable asset. Blockchain fundamentals, too, show that a bull run, if not already on, is in the works as I write this. Per a recent report from Diar Newsletter, analytics compiled by TokenAnalyst have revealed that “real Bitcoin volumes (sans change transactions)” have been rallying alongside BTC. The outlet claims that over the past three months, the number of BTC and U.S. dollar of that BTC transacted on the blockchain has risen three months consecutively. In April alone, $130 billion worth of the cryptocurrency was transacted, which is a level last seen in June 2018, when BTC was trading at $7,000 apiece. This influx may be a result of increased speculative interest, marked by growing exchange volumes and the number of transactions to and from trading venues, but as analysts like Willy Woo have pointed out, such increases in these fundamental measures have marked the end of previous cryptocurrency bear One. More. Capitulation. If Bitcoin is following historical precedent, what will BTC do next? According to two prominent analysts, Brian “The Rational Investor” Beamish and the ill-titled Magic Poop Cannon, a move to re-test yearly lows could be possible. As depicted below (chart courtesy of Beamish) and reported previously, Bitcoin’s price action in 2017 was evidently a “blow off top” and 2018’s was “the hangover,” two macro trends seen in the previous bubble. If Bitcoin continues to follow its trend, 2019 will see BTC rally tremendously, but not without another influx of capitulation first. Beamish suggests that a move to near December 2018’s levels will come in the coming months, potentially as soon as June. And as Magic Poop Cannon remarked, Bitcoin’s current price action, the 50-week exponential moving average, 50- and 200-day moving averages, Fibonacci retracement levels, and Relative Strength Index (RSI) readings are all looking eerily similar in structure to that seen in mid-July 2015. And thus he wrote that if BTC tracks its historical trend, the golden cross will form (check), a trading range of $5,000 to $5,300 will hold until May 7th (check), and will collapse to $4,025 by the end of May. But will this play out? At this point, some are unsure, as historical action is not indicative of future performance, even in a market as riddled with cycles and trends as cryptocurrency and Bitcoin.

#bull-run

Bitcoin’s first ten years of existence was mixed but exhilarating. There is enthusiasm from the token’s die-hards and well, vitriol from skeptics. Its appeal of censorship resistance and decentralization has attracted many forward-thinking leading tech minds such as Apple’s Steve Wozniak, and Jack Dorsey of Twitter. It’s very vocal naysayers, on the other hand, include Black Rock’s Larry Fink, Warren Buffet, Jamie Dimon, and Ben Bernanke, former chair of the Federal Reserve. These critics all come from a position of power in the legacy finance world. Why? Turkeys cannot favor Christmas. Even so, Bitcoin has the potential to overturn the way the globe approaches money matters. It altogether forgoes intermediaries and takes away the control of money from these old financial institutions and governments as well. But in doing so, it may also help drive Ripple (XRP) adoption, effectively becoming the platform’s best friend: Financial Institutions love Ripple (XRP) Christine Lagarde, the IMF M.D has recently made the statement saying “the role of the disruptors and anything that is using distributed ledger technology…is clearly shaking the system,”. Adding that “we don’t want innovation that would shake the system so much that we would lose the stability that is needed.” The IMF boss has however in the past endorsed Ripple saying that it has the potential to disrupt the bank’s business model and reduce their costs impacting livelihoods positively: “That is where I see changes happening now. If you think of Circle, and Ripple and all those, that’s where they are active and helpful.’” Ben Bernanke has also in the past attended a Ripple conference and endorsed it saying that the platform’s efforts to cut down on transaction costs and increase reliability and accuracy were going to bring the world’s economy closer. Of Bitcoin, the Brookings Institute fellow said that it was an attempt to evade regulation from the government and replace fiat, something that governments will not allow to succeed. So why are these legacy financial systems leaders so bullish towards Ripple and bearish towards Bitcoin? Bitcoin is staunchly against regulation, but Ripple is all for working with the system through blockchain. Ripple has allowed these old fiat controllers to enjoy the benefits of moving money faster and more efficiently without bending the knee to a fully decentralized system like Bitcoin’s. Ripple Okay with Regulation Ripple (XRP) has in the past actually called for more regulation in the digital currency sector, to help create an equilibrium between “capturing risk and enabling innovation.” This according to Ripple’s Ryan Zagone would attract more institutional investors into the fledgling market. Ripple has grown in market cap size and has made great headways into the financial scene building partnerships with hundreds of large banks such as Bank of America. Besides, executives behind Ripple are determined to ensure that its platform will be what banks use to move their inter-bank transactions. This could further push XRPs value through the roof. The fact of the matter is Bitcoin’s strong stance against regulation and centralization has greatly benefited XRP. Bitcoin (BTC), therefore, is Ripple’s best friend. Without BTC causing so much angst in the traditional finance circles, Ripple would have had a harder time making friends there. Mining BTC expends lots of energy, while XRP is considered energy efficient and faster. These inefficiencies inherent in Bitcoin but lacking in Ripple have most certainly helped Ripple become the force to reckon with that it is today.

#xrp

Ripple Inc is changing the cross-border remittance space with its technologies that allow transactions to be faster and cheaper benefiting the end user. Presently, because of what’s on the table, the demand for Ripple Inc and similar solutions is apparently on the rise in the Asia-Pacific (APAC) region. Cross-Border Demand Too Big In APAC In a post by Ripple Inc’s official Twitter handle, the cryptocurrency company revealed that there is an increasing demand for its remittance solutions. However, the existing services cannot cover this ultra high demand. Ripple Inc tweeted saying “Demand in APAC for fast, affordable cross-border remittances are growing, but existing services can’t keep up.” This statement was made at the Ripple Inc Regional event in Bangkok. Malaysian Bank, CIMB previously partnered with Western Union to help their customer send money to their families in other parts of the world. However, Thomas Kiong, Senior Managing Director of Group Treasury Sales and FX at the bank admitted that the economics of the partnership favored Western Union more. He revealed that the bank did 80 percent of the work but only got 20 percent of the reward. Clearly, the remittance services offered by traditional financial institutions are expensive to the customers. This is even more costly for those with low-income jobs. Asides the cost, the transaction time are also long. Paul Arriyavat, VP of Disruptive Technology Office and Chief Strategy Officer at Siam Commercial Bank (SCB) revealed that despite the challenges, banks in the region are now working on better solutions. Ripple Inc Demand Is Increasing In APAC It is clear that banks in the Asia Pacific are turning to solutions that are faster, cheaper, and easier. Ripple Inc solutions have gained adoption in the region following restrictions from western union. Arriyvat pointed out that blockchain technology has become the core platform for solving their remittance struggles. He revealed that the bank assist Thai migrant workers living in Japan send money home through 30,000 ATMs. CIMB on their part dumped Western Union instead launching SpendSend. Their cross-border payment service is now present in 31 countries. The bank is targeting higher value transactions from some customers. To achieve that, CIMB had to plug into the networks of existing blockchains and expand their reach while reducing the cost for customers. WrathofKahneman tweeted about the situation saying “The latest Ripple Inc Insight has some interesting videos from heads of CIMB & SCB. Two nuggets: -WU wouldn’t let CIMB in Malaysia-Indonesia corridor, so they dumped them. -SCB couldn’t expand to Vietnam & Cambodia w/o Ripple Inc’s multi-hop.” The Ripple (XRP) community is excited about this latest development as they believe that Ripple Inc technologies will help the banks boost their cross-border transaction services. Ripple Inc is also impacting other cryptocurrency companies. BitFi, a cryptocurrency wallet recently praised Ripple Inc for its technical achievements. The company said, “Welcome to the big show Ripple Inc, we applaud your technical triumphs & look forward to securing XRP. As Bitcoin paved the way for all tokens & remains granddaddy of currency, Ripple Inc developed an incredibly stable & secure network for banking. Two True Masters, zero competition.” While BitFi has not added support for XRP, the exchange claims that it is looking forward to it. The cross-border payment industry is apparently worth billions of dollars annually. Transactions are usually slow and costly for the customers, and the entry of Ripple Inc into this sector is solving those challenges.

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The Ripple (XRP) community has once again urged Microsoft’s messaging platform Skype, to integrate the currency into their network as means of micro-payment. Ripple (XRP) enthusiasts are keeping up with the request, and the Skype team promised to talk over the matter with the other teams. XRP Community Suggests XRP To Skype For cryptocurrencies like Ripple to be mainstream, then it must find widespread adoption. Luckily, Ripple is building and with relentless supporters from the XRP Army, dedicated executives and clear road map, they are inching closer towards their objectives. Their muzzle is now at Microsoft’s Skype. XRP can be used for micro-payments via XRPTipBot on Twitter, Reddit, Gmail, and even Discord. Expectedly, Ripple (XRP) enthusiasts now want the service to be integrated into Skype VoIP and conference system. In a message by ParisByDavid, the soldier calls on Skype to integrate Ripple (XRP) as a currency of choice for settling micro-transactions. He goes on reminding Skype that in the age of micro-payments, clients need their support. And he’s right. After all, the internet of value is here, and the idea is to implement micro-payments on the messaging platform is not far-fetched. ParisByDavid goes on saying not only should they buy Skype Credits with XRPTipBot, but they ought to send micro-payments using XRP on Skype chat as well. Another Twitter user, Bank_XRP joined the conversation, issuing a rallying call to users. At the moment, the issue has garnered roughly 900 votes with more people expected to vote for this movement. So far the response is good and ParisByDavid has acknowledge receiving a message from the Skype team: “Ladies and Gentlemen! Petr from @Skype finally replied with a promising message (see below). He also asked us to support this idea by voting and sharing your thoughts. If you didn’t vote, please do it now. A small contribution can change the future.” From the above, it is clear that Petr from Skype notes that the team likes the idea but considering the fact that Skype is just a small unit of Microsoft, integrating crypto would have to be accepted across the company and it may take a while if they decide to do so. This reply generated excitement amongst the XRP community, with some of them already thinking about the global adoption Ripple (XRP) if it gets approval from Microsoft, a global behemoth, a mainstay in Wall Street and a company best known as a global software vendor. According to Calvin Schultz, the mere thought of Microsoft and XRP together should be enough to encourage community members to vote for this movement. The movement is expected to go beyond just the XRP community. ParisByDavid urged the CEO of Binance Changpeng Zhao to help spread the message to his community. In a tweet he says: “it’s not about #XRP it is about cryptocurrencies and mass adoption in general. Being a visionary man, it won’t be a problem for you.” Whether Changpeng Zhao would honor that request is yet to be seen, but it is clear that the XRP community is determined to make XRPTipBot a part of Skype. Skype Plays A Massive Role in Crypto OTC Market While it might be unintended, Skype is already playing a huge role in the growth of the OTC market. Last year, A report by Reuters revealed that crypto trading companies are negotiating, purchasing, selling, and lending cryptocurrencies over Skype. This platform is used to cater for big clients such as wealthy investors, large BTC miners, payment processing firms, cryptocurrency hedge funds, and more. The traders were looking for a platform that is global and more or less free, and Skype has served as a perfect tool for them.

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Bitcoin Closes Weekly Candle Strong, Sparking Hype After a week of nail-biting price action, Bitcoin (BTC) closed last week undoubtedly positive mere hours ago. As of the time of writing this, BTC is trading at $5,250, as buying pressure continues to prop up the market. The past week marks the first sustained, four-digit ($1,000+) rally that BTC has seen since the middle of 2018. This simple fact, which comes after the cryptocurrency market was bruised and beaten to hell and back, has made some crypto traders extremely bullish. One trader, going by the moniker “CryptoHamster,” in fact, recently took to Twitter to claim that if history rhymes and if Fibonacci retracement, a form of technical analysis, is valid than BTC could be in for a further move to the upside. Per previous reports from Ethereum World News, the analyst explained that Bitcoin’s current price action has started to resemble that seen in the 2013 to 2015 market cycle. Thus, if history continues to repeat itself and if BTC continues to hold key Fibonacci levels (depicted in the chart below), the asset could rally to $7.5k in the coming weeks and months, before a correction to $4.3k. Brad Metz, a lesser-known yet astute asset trader, continued with the theory that the Bitcoin market might just be reenacting historical bullish price action, but on a different time frame and price scale. Metz recently noted that BTC’s recent push above $5,000, which have led some to claim that the asset is dramatically overbought, is eerily similar in structure to a move seen in mid-2016, which was Bitcoin began a push beyond its previous all-time high. If the trend continues as it did in 2016, BTC could see a ~60% move higher from here in the coming months, bringing the asset to ~$8,000, prior to a drawdown from overbought levels. The aforementioned two are far from the only bullish in these conditions. Brian Kelly, for example, recently took to CNBC to claim that this ongoing move is likely to bring BTC to $6,000 at the max. Per previous reports, Kelly claims that “high net-worth individuals, family offices, are starting to take a serious interest” in Bitcoin, all as custody solutions have propped up, volumes have spiked, and short sellers looking to cover their rear ends — presenting a strong case for a 20% rally from here. Long-Term Bitcoin Bulls Enthused Even if BTC doesn’t move higher, many are adamant that the bottom is in and that new highs are more of a “when” than an “if.” Per previous reports from this outlet, Josh Rager, a team member at crypto exchange startup Level, recently claimed that after some thinking about Bitcoin’s potential bottom, $3,100 might have been it “for two reasons.” He looks to the fact that retail investors had many buy orders in the $1,800 to $3,000 range, especially due to analysts calling for further lows as an indicator that $3,100 may have been the bottom. This, of course, is in reference to the theory that going against the crowd in markets often proves better than going with it. The second theory that Rager drew attention to is the fact that $3,100 is a very attractive investment point for institutional players and high net-worth individuals, making it less than likely that Bitcoin could fall under that region. So while there’s an chance that BTC could near its lows in this cycle, by and large, traders are convinced that new highs will come prior to fresh lows.

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Ripple price is trading in a positive zone above the $0.3500 support area against the US dollar. Bitcoin and Ethereum climbed higher recently above the $5,200 and $180 levels respectively. There was a break above a short-term contracting triangle with resistance near $0.3620 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair must clear the $0.3750 resistance to climb towards the $0.3850 and $0.4000 resistances. Ripple price is placed nicely for more gains against the US Dollar and bitcoin. XRP might sooner or later break the $0.3750 resistance to start a solid rise towards the $0.4000 level. Ripple Price Analysis After a downside correction, ripple price found support near the $0.3250 level against the US Dollar. The XRP/USD pair started a fresh rise and traded above the $0.3380 and $0.3400 resistance levels. Later, there was a close above the $0.3500 level and the 100 hourly simple moving average. A swing high was formed at $0.3791 before the price corrected once again. It declined below the $0.3600 level and the 50% Fib retracement level of the last wave from the $0.3258 low to $0.3791 high. However, the $0.3500 level acted as a solid support along with the 100 hourly SMA. Besides, the 61.8% Fib retracement level of the last wave from the $0.3258 low to $0.3791 high also acted as a support. The price is currently moving higher and is placed above the $0.3600 level. Moreover, there was a break above a short-term contracting triangle with resistance near $0.3620 on the hourly chart of the XRP/USD pair. The pair tested the $0.3700 level and it is currently signaling more gains. On the upside, the main resistance is near the $0.3750 and $0.3780 levels. A successful close above the $0.3750 level is likely to open the doors for more gains above the $0.3850 resistance. The next main hurdle for buyers is near the $0.4000 level, where sellers are likely to appear. Looking at the chart, ripple price is clearly trading in a bullish zone above the $0.3600 and $0.3550 support levels. Therefore, if there is a fresh downside correction, buyers are likely to protect $0.3550 and the 100 hourly SMA. On the upside, sellers need to keep an eye on $0.3750 and $0.3780. A successful follow through above $0.3780 and $0.3800 is likely to push the price towards the $0.3850, $0.3900 or even $0.4000. Technical Indicators Hourly MACD – The MACD for XRP/USD is placed nicely in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently correcting lower towards the 50 level. Major Support Levels – $0.3600, $0.3550 and $0.3520. Major Resistance Levels – $0.3700, $0.3750 and $0.3780.

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Last week, Ethereum World News suggested that Bitcoin (BTC) is overbought, citing an array of technical analyses and investor opinions. In one case, Bloomberg reported that the GTI Global Strength Indicator, a measure of market strength that is similar to the widely-used Relative Strength Index, accentuated that BTC was the most overbought since late-2017 and early-2018. In another case, one trader warned that if Bitcoin is too continuing following its long-term trend, a bout of capitulation could bring BTC to $3,000 or even lower in the coming weeks. While buying pressure has slowed since our reports, leading to a minor pullback in trend indicators, some analysts are still convinced that BTC (and other digital assets for that matter) moved up too far, too fast. TradingShot, an analyst on TradingView, recently claimed that Bitcoin’s daily Relative Strength Index (RSI) output currently reads an 83. Each and every time BTC’s one-day RSI sat above 83, a 30% drop came in the coming days. Case in point, in summer of 2017, BTC fell from $3,000 to $1,700 after its RSI peaked at 84, partially due to a series of China-related news. At the top of the bubble in late-2017, which was when Bitcoin breached $20,000, RSI reached 90, leading to a 47% drawdown in the coming months. Thus, if history does repeat itself, a move to $3,800 is entirely possible, before a continuation of the ongoing bull trend. Funnily enough, some have claimed that it is irrational to call for a 30% drop from here. Crypto Thies, the analyst in question in a recent report from this outlet, recently explained that his technical measures signal for new highs in this rally, compared to a drastic pullback. More specifically, he wrote that while he is confident that BTC will eventually return to $4,700, he expects for a Bitcoin to head higher in the coming weeks. He looks to the fact that the Bollinger Bands (BB), a measure used to depict trading ranges, have begun to squeeze on the one-week chart, along with BTC’s two-week candle breaking above its middle BB could suggest a move to the high BB, currently sitting at $8,400, in the near future. Long-Term, Bitcoin Is Doing Just Fine Though While TradingShot is sure that Bitcoin is currently overbought, long-term, RSI readings are doing just fine. In fact, they purportedly resemble that seen prior to previous cryptocurrency recoveries, all underscored by the block reward reductions (halvings). CryptoTytan recently explained that Bitcoin has historically seen oversold (sub-30) readings on its one-week RSI prior to a rally into halving events. And with the on-week RSI recently hitting oversold in December’s move, Tytan claims that he believes that BTC could eventually shoot past its all-time high, calling this pattern an “algorithm that works.”

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The crypto rally has lots more runway ahead, even if the bitcoin price appears stuck. Trader and classical chartist Peter Brandt revealed his bullish prediction of $50,000 for the bitcoin price, which is currently holding steady at $5,000. Investors must exhibit some patience, however, as it won’t happen overnight. Brandt expects that it will achieve this level over the next two-to-three years based on historical patterns that are resurfacing like a reflection in a mirror. BITCOIN PRICE COULD SURGE TO $50,000 BY 2021 Bitcoin continues to test resistance above the $5,000 mark. | Source: CoinMarketCap There are countless bitcoin predictions out there, so what makes his so special? Unlike much of the other analysis, Brandt presciently called bitcoin’s 2018 destiny in which the leading cryptocurrency shed more than 80% of its value. He identified a similar pattern in the charts in 2018/2019 that replicate the price movements from the 2013-2015 bear market period, after which time the bull market arrived. Technically speaking, that’s where the bitcoin price is trading today. He told Yahoo Finance: “We saw sequential 10 up and down moves in the bear market, and we’ve almost identically formed that same sort of pattern. After the 2015 low in bitcoin, we saw the market then developed into a parabolic advance,” said Brandt, adding: “Based on those analog studies, I think crypto now will go back into a parabolic bull market.” WILL THE BITCOIN PRICE RETEST 2018 LOWS? While Brandt’s outlook is music to the ears of bitcoin investors, his crystal ball isn’t free of interference. Brandt has questions, too, chief among which based on the “analog year comparison is whether [the] 10a rally will lead to 10b retest similar to 2013-2015,” as depicted in the below chart. In other words, will the bitcoin price rally for a while before retesting late 2018 lows, which was $3,122 on Bitstamp, over the summer before climbing to $50,000? “There’s a chance that it does and a chance that it doesn’t,” he said in answer to his own question. CRYPTO BULL RUNS DON’T WAIT FOR ANYBODY Whether that parabolic move has begun or bitcoin “takes a break” in the coming months, one thing is clear: the BTC price is headed for $50,000 between now and 2022. “When bitcoin starts moving, it moves. It doesn’t hold up for everybody to catch a stagecoach,” said Brandt, who expects that bitcoin will leave its previous high of $20,000 in the dust. Brandt, who has been trading for more than four decades, isn’t concerned with what’s driving the rally, just the “basic underlying demand for the coins themselves.” This is easier said than done, considering the unique nature of the cryptocurrency market whose only basis for comparison is about a decade. This differs from fundamental analysis, like that of Fundstrat’s Tom Lee, which will illuminate the catalysts behind the price moves. Lee is similarly bullish and told CNBC this week that bitcoin’s fair market value is currently $14,000. Brandt, meanwhile, chalks up this week’s 20% bitcoin rally to good old “more buyers than sellers” – but also more urgency among buyers.

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