XRP price prediction 2019: To the moon or to the depths of the abyss?

XRP seems to be doing well for itself ever since it overtook Ethereum [ETH] to become the second-largest cryptocurrency in the world [by market cap].
Ripple, on the other hand, has also performed splendidly, considering its partnerships with a plethora of banks and FIs around the world. Ripple wants to build an ecosystem on the RippleNet for remittance and cross-border payments, and it plans on doing the same by leveraging the cryptocurrency XRP.
In the long-term, Ripple will emerge as a winner and along with it will rise XRP, considering the developments going on Japan’s SBI Group and SBI Holdings, which are planning to disrupt and reshape the whole of Japan’s payments industry with XRP as a tool to accomplish it.
The road so far:
2017
The year 2017 was the year of the bulls which projected the prices of every cryptocurrency in the ecosystem to plummet to unfathomable heights. XRP attained a price of $3.349 per token and the market cap at this point reached $145 billion on January 04, 2018, right after Bitcoin hit its peak on December 17, 2017.
2018
Most analysts in the market expected Bitcoin and every other cryptocurrency to pump higher. While some people in the XRP community believed that the price will shoot up from here to $10, others were mesmerized by BearableGuy123, Ripple and XRP’s very own jester, who put out riddles, and people interpreted the price of XRP to reach an appalling $589 by the end of 2018.
Most of the people in the community thought that it would be possible due to Ripple’s payment solution xRapid, which leverages XRP as a bridge currency to perform cross-border payments.
Brad Garlinghose, the CEO of Ripple, said in one of his interviews:
“I’ve publicly stated that by the end of this year I have confidence that major banks will use xRapid as a liquidity tool, this calendar year. By the end of next year I would certainly hope we would see in the order of magnitude of dozens.”
This statement of Brad Garlinghouse made people believe in the jester.
Another reason why people expected the price to reach $589 or “$5.89” was due to Ripple’s plan to launch “Cobalt” which, according to the Ripple, would drastically decrease the already fast transaction time.
People in the community speculated that since Cobalt’s mass number is 58.9, the price could inadvertently reach $589 or $58.9 or $5.89 by the end of the year.
As the year 2018 came to an end, some people admitted that it wouldn’t happen, while others still believed that $589 is attainable.
There were some massive improvements and updates that the company Ripple had provided, like the signing up of 200+ banks. More than five banks across the world have started using the xRapid payment solution now. MercuryFX successfully transferred money across the border using xRapid recently.
2019
Apart from the above, R3’s Corda Network was turned on, which will use XRP as a settlement currency. R3 announced that it had crossed more than 280+ partnerships, which included a couple of central banks.
SBI Holdings, a consortium of banks across Japan, announced a partnership with R3 and set-up a joint venture to improve Japan’s payment industry.
What to expect?
The XRP community speculates that the partnership between SBI Holdings, R3, and Ripple puts XRP smack in the middle of  SBI CEO’s [Yoshitaka Kitao] plans to launch XRP across Japan in efforts to reshape and restructure their payment system before the Osaka Expo 2025.
Technicals
Daily Chart
The chart below shows the year 2018 so far and how the cryptocurrency XRP has performed over the year 2018. A strong downtrend can be seen hanging over the XRP daily price chart that extends from January of 2018 till date.

The one-day chart shows the formation of two distinct falling wedges for XRP as seen in the chart above. Falling wedges are usually trend reversal patterns that indicate a breakout depending on where there are formed.
The first wedge spanned 256 days and the breakout that occurred pushed the prices by 192% i.e., the prices shot up from $0.26 to $0.76. The second wedge has so far ranged for 141 days and a breakout might happen at any moment. There is, however, a possibility of prices moving sideways for a couple more days.
If the breakout happens, it could drastically increase the price of XRP to two possible levels, the first $0.5798, and the other level, a bit higher than before, $0.7971, which is the highest point of the wedge.
Weekly Chart
The longer time-frame for XRP shows a very different scenario as the prices are forming a descending triangle pattern, and as per the definition, it is a bearish signal.

The volume for the weekly chart also shows a declining trend, further substantiating the descending triangle pattern. The prices might dip in the upcoming days as the price might dip a little lower, possibly to the $0.18 to $0.14 range.
This range could be the capitulation range and there is a probability that the bull run might begin after the weak hands get out of the market.
Market Sentiment
The Ripple and XRP community is particularly fond of XRP and are expecting the prices to the moon due to the success of xRapid. As per recent unfoldings, many banks have started using xRapid.
Moreover, SBI Holdings has partnered with Ripple and R3 and is on a plan to disrupt the Japanese payment industry and simultaneously reshape the payments infrastructure. SBI plans to leverage XRP to make it happen and the CEO of SBI, Yoshitaka Kitao has very ambitious plans to make that happen by 2025.
Considering all the above facts, it can be said that the price of XRP could very well disregard the Technical Analysis and shoot up higher, breaking all the resistance points and maybe even crossing the previous highs at $3.65 when xRapid goes into full effect, or when FIs and Corporate players start using Corda.
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Source: AMB Crypto

Cardano [ADA] to Surge 54% by Feb End and Bitcoin, Litecoin, Ethereum, & XRP Price Prediction

Crypto market is currently in a prolonged bear market and “The big question on everyone’s lips is: What will these coins be worth in the future?”
Cardano to be the Game Stealer
According to Finder’s this monthly analysis of cryptocurrencies’ price predictions, 10 panelists predicted the price movement of 13 coins including the top ten cryptocurrencies by market cap and three top trending coins.
By this month-end, Cardano is expected to have the biggest surge of 54 percent to $0.06. “More positive comments coming from this corner, though it’s more of a good from my vantage point. It’s come down a bunch,” said Joe Raczynski, Futurist and technologist at JoeTechnology.com.
The highest price prediction for Cardano by this month end is $0.14 while $0.04 is the lowest number.  This coin is also expected to experience a healthy 260 percent increase by the end of 2019.
Just recently, Cardano Community announced that Cardano roadmap will be changing that will showcase Cardano 2020 vision after the IOHK Summit, to be held on April 17-18.  
What about other coins?
Bitcoin (BTC)
Bitcoin is expected to stay around $3,500 over the next month while could end this year at $6,549. “There is some volatility in the short run that will probably see the value stay roughly where it is,” said Co-Pierre Georg from the University of Cape Town. While Joe Raczynski says, “Bitcoin continues to drift around the $3K range. As it stays here, its stability will at some point foster positive gains as development continues.”
Ethereum (ETH)
“Ethereum, without the proof of stake, will have it hard for at least a year. After the Constantinople hard fork, which might take place in February, it can have an unpredictable price too,” shares Ajay Kumar Shrestha, from the University of Saskatchewan. A lot of faith has been put into the upcoming Constantinople like Brendan Markey-Towler of RMIT Blockchain Innovation Hub, that could mean “steady gains in its value, reflecting its increasing technological scope.” Ethereum is predicted to be around $115 over the next month.
Litecoin (LTC)
A short-term price decrease is expected in Litecoin price at $28.79 as “LTC and all other cryptos are directly proportional to bitcoin’s price.” As a silver to Bitcoin’s gold, it is expected of Litecoin to echo BTC’s movement, however, Litecoin Foundation has been lately working on adding privacy and confidential transactions feature and Mimblewimble implementation.
XRP
For XRP, Joe Raczynski and Alisa Gus think the recent downturn could be followed by long-term certainty. However, Raczynski notes that “If it gets some legs under it, it could easily bounce, or simply continue its beleaguered ways.” The average price prediction of XRP for March 1 is $0.32 and $0.44 by year-end.
The post Cardano [ADA] to Surge 54% by Feb End and Bitcoin, Litecoin, Ethereum, & XRP Price Prediction appeared first on Coingape.
Source: CoinGape

Will Bitcoin Dump to $1,250? Wall Street Bankers Think So

Another day, another price prediction. They are coming thick and fast at the moment as analysts and industry observers scramble to predict where the bottom will be. Some are more optimistic than others, but it is to be expected that JP Morgan is firmly on the pessimistic side of the fence.
JP Morgan Predicts More Pain
Yesterday we took a look at fractal patterns to predict a bottom of around $2,500 for Bitcoin which is quite plausible given the current market lethargy. That low is only a thousand dollars away from today’s price and would involve another 30% dump similar to the one in mid-November.
According to Reuters however JP Morgan, never a proponent of Bitcoin or cryptocurrency, has predicted a bottom of $1,250 if the bear market persists. The Wall Street banking behemoth added that blockchain technology has been widely hyped and will not make any difference to banking for the next three to five years.
JP Morgan has been among the large financial institutions that are very skeptical of Bitcoin and its brethren. This really comes as no surprise as their business model involves making a lot of money out of other people’s money, and decentralized peer to peer currency is a huge threat to that.
Analysts from the bank added that crypto assets would only gain traction when all faith in traditional assets such as the dollar, gold and the global payments system has been lost. If recent reports are anything to go by, Trump’s government shutdown and war on trade could accelerate that loss of faith in the greenback.
In a report on crypto and blockchain it said “Even in extreme scenarios such as a recession or financial crises, there are more liquid and less-complicated instruments for transacting, investing and hedging,” adding that institutional participation in crypto markets has slipped over the past few months. What it failed to acknowledge is the queue of major institutions waiting to get their crypto products on the table getting stymied by the US government blackout.
The report continued stating that it was unable to pinpoint any major retailers that accepted cryptocurrencies in 2018 and that its intended purpose remains ‘challenged’. It seems that JP Morgan does not consider Overstock, Newegg and Microsoft ‘major enough’ then.
The $1,250 BTC prediction is a bold one but with no real analytics or technical indicators to back it up, the report can just be considered as further FUD from Wall Street’s banking monopolies. That said, a number of analysts have used indicators to make their predictions and most are of the opinion that Bitcoin has further to fall before it recovers.
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Bitcoin Price 2019: Industry Insiders Predict BTC’s Future

If you ignore all the fundamental and infrastructure developments of 2018 and focus on price alone, 2018 looks like one of the worst for the number one digital asset. The Bitcoin price began the year at close to $14,000, having just started to crash from its recently set all-time high.
Fast forward twelve months and what many dismissed as nothing but a blip on the way to the proverbial “moon” has revealed itself to be a fully fledged bear market. Now, sitting at around $4,000 and at the curtain call of the shocker that was 2018, many connected to the Bitcoin space are starting to look forward to what 2019 in store.
Bitcoin Price: The Bearish Case
We’ll start with what is certainly the most pessimistic and bitter Bitcoin price prediction – that of Bitcoin Cash Satoshi’s Vision supporter, Calvin Ayre. The gambling 57-year-old iGaming entrepreneur, who often Tweets pictures of himself with girls that look young enough to be his granddaughters, is so passionate about the particular flavour of Bitcoin Cash championed by himself and Craig Wright that he believes it will usurp all Bitcoin’s market capitalisation, resulting in a Bitcoin price of $0.
The billionaire spoke to the UK’s Express newspaper earlier this week:
“I’m afraid I am predicting it to go to zero value as it has no utility, it does not do anything and they intentionally are anti-scaling… Bitcoin, the technology and economic model, are alive and well with Bitcoin SV (Satoshi Vision) and is going to have an amazing year.”
Whilst there are many folk who share the same opinion as Ayre on where the Bitcoin price is heading, few naysayers have been bold enough to set a date. Back in June of this year, perhaps crypto’s biggest pessimist Nouriel “Dr. Doom” Roubini stated:
“Blockchain is the most over-hyped — and least useful — technology in human history… No asset class in human history has ever experienced such a rapid boom and total utter bust and implosion.”
In terms of a price call, Roubini claims that “in due time” Bitcoin will be worth “close to zero”.
Bitcoin Price: The Bullish Case
Of course, not everyone is as pessimistic as Roubini and Ayre about the prospects of BTC going forward. There have been many recent examples of industry insiders making bullish price calls too. These have largely come from familiar names.
First is Mike Novogratz. The Galaxy Digital CEO and founder has made many previous price calls with varying degrees of accuracy. His latest states that the Bitcoin price will see its all-time high once again before the end of 2019.
Similarly, the Chief Creative Officer of BitPay, Sonny Singh, believes that Bitcoin should reclaim its former $20,000 price tag before the end of the year.
Even more bullish than Novogratz and Singh are Fundstrat executives Tom Lee and Sam Doctor. According to a report in the UK’s Express newspaper, the two have stated that a Bitcoin price of $36,000 during 2019 is realistic to expect.
Presumably, this will require institutional capital inflows, which are rapidly being made more feasible by various trading desks launched by massive names in the global finance industry, as well as crypto custodial solutions tailored towards the planet’s wealthiest money managers.
Finally, offering a much more measured response is David Thomas. The director and co-founder of digital asset brokerage GlobalBlock stated that institutions remain hesitant about taking up positions in crypto.
In making his own prediction, Thomas draws on previous price performances during similar market crashes in Bitcoin. He states:
“If we look at previous trends it takes on average around 67 weeks for bitcoin to recover and proceed to new all-time highs… If you follow this logic, then bitcoin would be heading towards US $20,000 in the second quarter of 2019.”
Before you get too excited though, Thomas does not believe this will be the case the case this time. For the GlobalBlock founder, we still have a “bruised investor base after this year”. He therefore reined in his 2019 price call:
“With positive news, ETFs and regulation, we believe bitcoin will recover to the US $8000 to $10000 levels during 2019 which given where it is today would on balance be a decent year.”
Recommended Reading: John McAfee Ups His 2020 Prediction to $1,000,000/BTC
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Tom Lee Declines to Update Year-End Bitcoin Price Forecast

Outspoken Bitcoin bull Tom Lee is one of the cryptocurrency’s biggest cheerleaders, and has made a number of lofty price predictions that have unfortunately fallen short.
With the price of Bitcoin hitting new one-year lows after the break of critical support at $6,000, Lee is now saying that Bitcoin is currently extremely undervalued, by as much as $10,000. He’s also uncharacteristically declining to make any future predictions on the cryptocurrency’s price.
Tom Lee Tight-Lipped on Future Price Predictions
While speaking to Bloomberg, Fundstrat Global Advisors’ head of research, Thomas Lee, refused to offer an amended year-end forecast for Bitcoin, saying he was “tired of people asking us [Fundstrat] about target prices.” Lee has made some bold predictions in the past, making a call back in May claiming that the cryptocurrency would reach $25,000 by the end of the year.
Related Reading | The Future is Brighter Than Ever for Crypto, Says Roger Ver
Not only did Lee’s lofty prediction not come true, he missed his target by over 85% unless Bitcoin makes a sudden, sharp recovery. Given the current market sentiment, reaching Lee’s year-end target would seemingly be impossible, which may explain Lee’s reluctance to make another prediction. Lee later lowered that prediction to a more modest $15,000, but even that target is a far way off.
Without making another specific prediction, Lee did point to Bitcoin’s price being fairly valued at $150,000 per BTC if the amount of wallet addresses can reach 315 million, which would be 7% that of VISA’s 4.5 billion accounts.
Tom Lee: Bitcoin Fair Value is Between $13,800 and $14,800
According to Lee, Bitcoin’s fair value is between $13,800 and $14,800 – making the leading cryptocurrency by market cap undervalued by more than $10,000. Lee based his fair value figure on the number of active wallet addresses, the amount of transactions across each account, and the overall supply.
“Fair value is significantly higher than the current price of Bitcoin,” Lee explained.
Bitcoin recently breached a repeatedly-tested price floor at $6,000 sending the market into a state of panic, and the price plummeting over another 40% to a one-year low of $3,250. Bitcoin is currently trading at around $3,400, making the original cryptocurrency undervalued by $10,400 on the low end, and $11,400 on the high end, according to Lee’s valuation.
Related Reading | Tom Lee: Bitcoin is the Best House in a Tough Neighborhood
As for why Bitcoin is so undervalued, Lee claims that it’s a combination of factors. This includes the mounting fears surrounding a potential global economic collapse and the corresponding de-risking by investors, initial coin offering treasuries selling off assets to fund operations, and the normal market cycling following the break of a parabolic advance.
Lee neglected to mention another factor that the cryptocurrency community finger points as the reason for the current downward spiral: the ongoing war between two opposing Bitcoin Cash camps. Regardless of the exact reasoning, enough factors have piled up to send the market into a state of fear, and as a result, the entire cryptocurrency market has been bleeding out – with no end in sight.
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Tim Draper: Cryptocurrencies Will Consume Half the Fiat Currency Market

Bitcoin is having a rough time lately, having been lost more than 80% of its total market cap this year. But the decline has not discouraged Tim Draper from putting his confidence in the crypto technology.
The renowned venture capital investor predicted that half of the fiat money holders would eventually shift to cryptocurrencies in the future. Speaking on the sidelines of the World Crypto Con conference in Las Vegas, Draper said that bitcoin will lead the new currency market which would enable people to easily spend, invest or do whatever they want with cryptocurrencies.
The cryptocurrency market currently amounts to circa $130 billion while the fiat one is worth about $86 trillion. Bitcoin and similar assets, according to Draper, are cheaper to operate and are more frictionless than fiat, which would allow at least $43 trillion worth of investment move into the crypto space.
“I mean, just by that alone, just that they cost you less, it’s going to be better for people,” he added. “And so they’re going to move to crypto, and they’re going to go away from the political currency—they call it fiat.”
Hype vs Use Case
Technologists have praised Bitcoin for bringing a new and innovative transaction settlement protocol to the financial market. The digital currency, nevertheless, has also faced criticism for being unstable and for its slow transaction time. Over recent years, a majority of traders purchased Bitcoin during its speculative bull run, which saw price hitting an all-time high at over $19,000. But as the hype cycle ended, the bitcoin market posted a massive yearly decline, which is still in play and has brought the value to as low as $3,400.
Nouriel Roubini, a renowned American economist, called Bitcoin “a mother of all scams,” stating that its value would eventually crash down to nothing. Warren Buffet, a Nobel-winning economist, also called bitcoin “an asset that creates nothing.”
But for Draper, the decline only reflects a near-term shock and Bitcoin would eventually be an answer to all the problems a fiat-based economy possess. The crypto bull said that developing countries would find digital currencies more attractive than countries with their high GDPs tied to fiat money.
“That’s the way it’s going to move,” he explained. “And so the countries that are forward thinking are saying, this is the way it’s going to be. So we’re going to make a huge mistake by trying to cling to our old currency. And that’s why you’re seeing the smaller countries all say, ‘yeah, we want bitcoin, we want initial coin offerings (ICOs) here, we want blockchain. We want all of these things in our country.’”
$250,000 in 2022
Draper reaffirmed his stance that Bitcoin value will rise as much as $250,000 by 2022. People, according to him, would be least likely to tie their investments with assets whose price actions are driven by political forces. “I would much rather have a global currency than one that is sort of tied to a political force,” Draper added.
The venture capitalist is believed to hold more than 30,000 Bitcoins in his investment portfolio.
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Are We There Yet? When Will Crypto Markets and Bitcoin Hit The Bottom

When things go south in crypto land it happens fast, a digital avalanche sweeping away everything that stands in its path and blasting most of digital coins into oblivion.
This weekend’s exodus has been a third wave of selling which has resulted in the loss of over $90 billion from crypto markets this month alone. In a fortnight the market has shrunk by 43% in what has been the largest loss this year.

Since Bitcoin still dominates proceedings and performance for the rest of the market it should be BTC that we look to when searching for a bottom. It was widely predicted that Bitcoin would find a plateau at around $6,000 which it did for a couple of months. External influences such as the SEC or ICOs, or even the Bitcoin Cash fork, have been blamed for it dropping below that level but this is unlikely to be the case.
As we have seen, $6k was not the bottom, not even close to it. The next level predicted was $4,500 but Bitcoin plunged through this support level yesterday as it dropped below $4k for the first time since September 2017.

The next level is $3,000 and this one is key if longer term charts and trends are to be observed. Taking previous price swings into consideration, market analyst Murad Mahmudov predicted things will fall even further if Bitcoin is to replicate previous patterns before it recovers.

5/ low 3000s not outside the realm of possibility if the Descending Triangle pattern plays out fully pic.twitter.com/i96zTtPQ5V
— Murad Mahmudov (@MustStopMurad) November 15, 2018

A fall to around $3,000 will leave the entire crypto market with a capitalization below $100 billion and the rest of the altcoins in severe pain. Once this level is reached things are likely to stay there for several months before any sign of recovery so hold on to your seats because things will probably get worse before they improve.
Others predict an even lower bottom with Bitcoin back at $1,000. Either way, Bitcoin and crypto has fallen this fast and this heavy before, in several instances over the past decade BTC has lost over 80% in less than a year. It has recovered before and will do so again, the fundamentals for this technology are still extremely strong.
The bear market this year has simply weeded out all of those that got into crypto to make a quick buck, usually with little understanding of what they were investing in. Things will find their equilibrium and eventually the trends for the market will start to reverse. Those in for the long haul will be adding value, building, and working on wider scale adoption of cryptocurrencies which is the only thing that will sustain their development and secure their place as part of our technological future.
 
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BitMEX CEO Accurately Called $5,000 Bitcoin in August, Is $2,000 Next?

Bitcoin has set a new low for 2018, and is now inching closer and closer to BitMEX CEO Arthur Hayes’ prediction that Bitcoin will reach $5,000.
BitMEX CEO Called for Bitcoin to Test $5K Support, Nails Prediction
Outspoken CEO and co-founder of popular margin-trading platform BitMEX has made a number of predictions about Bitcoin’s price since the leading cryptocurrency by market cap reached its all-time high of $20,000 last December.
One of his most recent predictions, calling for Bitcoin to hit $5,000, is about to become a reality.
While many cryptocurrency analysts had been calling for a bottom, Bitcoin finally fell through its seemingly unbreakable and repeatedly tested support at $6,000, quickly plummeting to $5,500 yesterday, and hitting a low of $5,250 earlier this morning – a mere $250 away from Hayes’ prediction.
Hayes started the year with a far more positive outlook on Bitcoin, suggesting that the volatile asset could reach $50,000 by the end of 2018.
Considering Bitcoin’s parabolic rise from $5,000 to $20,000 in around a month’s time, exuberant predictions were the norm and at the time seemed very possible. However, as the bear market took its toll on investors scorn by continuously falling prices, Hayes adjusted his predictions. Others, such as Tim Draper or cybersecurity firm founder John McAfee are calling for as much as $250,000 and even $1 million per Bitcoin.
McAfee was so confident in the prediction he offered to “eat” his genitalia if the lofty prediction didn’t come true.
Back in August, the BitMEX CEO, while speaking on CNBC’s Fast Money, told host Melissa Lee that cryptocurrency investors haven’t “seen the worst” yet and that he would “like to see” Bitcoin “test 5,000 to really see if we put a bottom in.”
Hayes made the comments after Bitcoin briefly touched below $6,000 in late June, and began to rally before being stopped at roughly $8,250. Hayes had suggested at the time that if the rally had passed $10,000, his prediction of $50,000 was still feasible, but if the rally couldn’t break the psychological resistance at $10,000, then a test of $5,000 would be in the cards. He was right.
Related Reading: Bitcoin Break to $5,600 is Good For Crypto, Says Major Investor
Is Arthur Hayes’ New Prediction the Next Stop for Bitcoin?
Hayes isn’t done with his goal of accurately predicting the bottom in Bitcoin, and is now calling $2,000 to $3,000 his “new sweet spot.” He also thinks that the ongoing bear market, which is already nearing a year in length, could last another year to 18-months.
Hayes has based his assessments on Bitcoin’s price and its relation to the 200-day moving average. Having “lived through the 2014-2015 bear market,” Hayes has also been waiting for a “nasty #@$ candle that breaks the soul of the bulls” – a candle which most bulls are hoping occurred yesterday, and isn’t looming on the horizon.
Market bottoms are usually identified by a V-shaped capitulation event, which many have claimed has yet to happen in what appeared to be Bitcoin’s bottom at the time.
If yesterday’s drop wasn’t the capitulation event, then Bitcoin may be following Hayes’ new prediction of $2,000 to $3,000. If it was, $50,000 could be next after the bulls regain control.
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4350 TRX Up for Grabs on Price Prediction while TRON Gaining Traction on Exchanges and Social Media

The cryptocurrency price index Coinraking is giving away 4350 TRX on correct Tron price prediction for November 16. Meanwhile, Tron is getting traction on Twitter, gains a new listing on Bloackport, and Bitexbook is ready to become the first exchange for free listing Tron-based tokens.
Predict Tron Price & Win 4350 TRX
Coinranking, a digital assets price index is giving out 4350 TRX for guessing the correct Tron price on November 16, Friday. This price prediction event closes on November 14 at 23:59 UTC. The price will be ascertained as per the Coinranking database.
If you want to apply for this contest, comment your price prediction in USD and retweet Coinranking’a tweet. Only one answer each person is acceptable where the first right answer will be the correct answer.
The Tweet mentioned above is:

Predict and win 4350 $TRX 🔮 Sponsored by @Indacoin 💰https://t.co/gSKat8k7WC… #CRpredicts #tron #trx @Tronfoundation #week53 pic.twitter.com/3Tg3RoINB7
— Coinranking (@coinranking) November 9, 2018

A Continuous Stream of Exchange Listings
Yet another exchange has been added to Tron’s long list of exchanges. Amsterdam-based social cryptocurrency exchange, Blockport now allows its users to buy and sell TRX directly with Euro on its platform as Tweeted,

We’re excited to announce the listing of @Tronfoundation on our trading platform!
Blockport users can now buy and sell Tron’s token, $TRX, directly through our Euro gateway.
Learn more about #TRON and its listing here:https://t.co/V20wzFKgJX#BPT #tronfoundation #TRX
— Blockport Official (@blockportio) November 8, 2018

Tron is the tenth cryptocurrency added to the exchange. In its official announcement, Brockport shares, “Of equal importance is that Tron’s European community will now have direct access to the TRX token through our user-friendly exchange and trading platform.”
Moreover, after listing Tron recently, Bitexbook will be listing Tron-based token for free on its platform. In its official announcement, the exchange says, “Team of the BITEXBOOK exchange, with the help and support of TRON discussed the potential future prospect of blockchain development around the world, as well as in the Asian region, and established joint strategic plan to further develop collaboration.”
It further explains,
“We are ready to be the FIRST exchange platform to provide with a FREE listing for the tokens with trading pairs to BTC and TRX, and potentially direct pairs to fiat currencies such as USD and RUB. This step will allow these tokens to bring their projects to a new level and gain access to investors who working mainly with standard fiat and crypto pairs (USD, RUB, BTC, ETH, etc.). Our exchange provides the ability to make deposits and withdrawals using Visa, Mastercard, MIR payment cards, as well as electronic money systems such as Webmoney, Ya.Money, Qiwi, etc.”

#BITEXBOOK and #TRON have established cooperation!
FREE LISTING of tokens based on the blockchain #TRON.
We are ready to be the FIRST exchange platform to provide with a FREE listing for the tokens with trading pairs to BTC and #TRX, and potentially… https://t.co/AJXPX28WoW pic.twitter.com/a1zHXddbRv
— BITEXBOOK (@bitexbook) November 12, 2018

Another interesting facet is Tron’s rising popularity on Twitter as shared by a crypto enthusiast on Twitter,

Don’t miss the #TRON train. The most talked about crypto on twitter, it’s only a matter of time! #cryptocurrency #CryptoNews #TRX pic.twitter.com/CyYl58NB85
— Crypto Sarah Ⓥ (@crypto_sarah9) November 10, 2018

At the time of writing, TRX has been trading at $0.0023 while being in the red by 0.49 percent while having a market cap of $1.47 billion.
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Source: CoinGape

Crypto Week In Review: Sentiment Starts To Shift As Bitcoin Moves Up 15%

Sentiment regarding the cryptocurrency market took a large shift this past week, as Bitcoin rallied 15% due to a series of positive technical and fundamental indicators.

IBM To Use Stellar-Based Stablecoin For Faster Financial Payments

IBM, one of the largest technology firms in the world, has just announced that it will be exploring the utilization of a Stellar-based token for cross-border payments.  The token in question was created by asset management firm Stronghold and was fittingly named Stronghold USD, which is a stablecoin that is pegged to the value of the U.S. dollar.

Unlike other stablecoin projects like Tether, prospective Stronghold USD users will make a deposit to the Nevada-based Prime Trust bank, with Stronghold issuing tokens on a 1:1 ratio. Additionally, this project was created with institutions in mind, rather than consumers, making the aforementioned stablecoin a much better choice for IBM in comparison with something like Tether or TrueUSD.

Tammy Camp, the founder and CEO of Stronghold, explained the use cases of the token more in-depth, stating:

“The token allows folks to do payments, foreign exchange between companies in a very seamless and frictionless and more secure way. It enables people to be able to trade that token with other assets and other tokens as well.”

Despite The Bear Market, Greyscale Investments Sees An Influx of Institutional Capital

Grayscale Investments, a digital asset focused investment firm, recently revealed that it had received an influx of institutional investment and interest, despite market woes.

Grayscale, which is headed by cryptocurrency expert and long-time investor Barry Silbert, released a report that cited that it had received just around $250 million from investors, looking to invest into Greyscale’s array of investment products. Although this is an impressive figure by itself, Silbert noted that 56% of the aforementioned figure was generated from institutional investors, potentially noting that these firms see a good entry point at current prices.

Bithumb To Expand Into New Asian Markets

Bithumb, a popular Korean exchange, has announced that it has plans to expand into the Japanese and Thai markets within the upcoming months. The exchange is currently working on obtaining the required regulatory approval from the local governments, namely the Japanese Financial Services Agency and the Thai Securities and Exchange Commission.

The Thai Bithumb branch is the furthest in development, with its parent company creating a webpage for the platform, along with allocating 3 million Thai Baht (~$90,000 U.S.) to the newly-opened subsidiary.

It is expected for Bithumb Thai to launch by the end of October, while Bithumb Japan is expected to open its doors early next year, despite harsh regulation imposed by regulators. The exchange will not be any ordinary platform, with ZDNet Korea noting that Bithumb “plans to set up an exchange that supports the largest number of coins (cryptocurrencies) in Japan.”

Tom Lee And Barry Silbert Call For Bitcoin To Continue Upwards

CNBC’s “Fast Money” show hosted industry leaders Tom Lee and Barry Silbert this week, with the two stating that they hold positive sentiment regarding Bitcoin’s price.

Barry Silbert, who is a long-time cryptocurrency investor and the aforementioned founder of Grayscale Investments, expects an influx of institutional “dry powder,” or highly liquid assets, in the near future. Silbert also stated that the bears have “run out of energy,” and have no more Bitcoin to sell, therefore resulting in less selling pressure placed upon prices.

The Bitcoin proponent later pointed out that the criticisms placed upon the industry by regulatory bodies don’t hold any value, and come unwarranted. He said:

“So I started buying Bitcoin in 2012 when the price was ten dollars and I’ve gone through now two 80 percent corrections, and this was a 65 percent correction. It’s the same old criticisms… Its just (that) they’re uninformed because everybody on this desk, anyone who spends the time to look into what is this asset class, why is it important, why does it have so much potential comes out of it being a believer.”

Tom Lee, the head of research at market analysis firm Fundstrat, also pointed out that fundamentals and technical indicators are starting to turn bullish once again, expecting for the world’s foremost cryptocurrency to head upwards from here.

Crypto Experts Hold Bullish Price Predictions

Arthur Hayes, the co-founder and CEO of the BitMEX exchange, tripled-down on his $50,000 price prediction, while also making an appearance on the CNBC show that seems to cover cryptocurrencies each and every day. Despite stating that he believes the market hasn’t “seen the worst” yet, expecting for Bitcoin to bottom at $5,000, he is betting that the cryptocurrency market will return to a bullish state as we move into the second half of the year.

Hayes noted:

“I don’t actually think we’ve seen the worst. I would like to see us test $5,000 to really see if we put a bottom in. But come back in Q3, Q4, I think is when the party is going to start again.”

Bitcoin Holds Weekly Gains, As Altcoins Slightly Pullback 

On Tuesday, Bitcoin saw an astonishing run-up, easily surpassing the heavily contested resistance levels at $6,800 and $7,000. Altcoins quickly followed, with a majority of the cryptocurrency market posting ~8-9% gains on that day alone. Many attributed this run-up to a series of positive news that was released prior to the run-up, namely discussion regarding institutional involvement, with this variety of investment being held as the primary catalyst for the expected bull-run of 2018.

Additionally, as Tom Lee stated on CNBC, the technical indicators were starting to become more favorable as discerned by a variety of analysts.

Since then, many altcoins experienced a slight pullback, with Bitcoin’s market dominance rising from 43% to 45%. Bitcoin has continued to hold the gains it made earlier this week, with the cryptocurrency sitting at around $7,450.

It has become apparent that the sentiment surrounding the cryptocurrency market is starting to change, with an onslaught of positive news coming from all corners of the industry. Arthur Hayes put it best when he said:

“But come back in Q3, Q4, I think that is when the party is going to start again.”

Featured Image From Shutterstock

The post Crypto Week In Review: Sentiment Starts To Shift As Bitcoin Moves Up 15% appeared first on NewsBTC.

Source: New feedNewsBTC.com

Crypto Community Questions Facts Over Coinbase CTO’s “ >60X ” Prediction

Crypto market can grow about 60 times as per the Coinbase CTO Balaji Srinivasan. However, this led the crypto community to question the integrity of facts linked by Srinivasan that led him to go in defense.

Crypto growth remaining >60X: Balaji Srinivasan

The predictions, insights, and analysis of cryptocurrency market are on a spiral for the past few days. Now, the Chief Technology Officer of Coinbase, Balaji Srinivasan has come up with an enthusiastic and a pretty bullish analysis for the crypto market.

The tweet states that for now only 8 percent of the Americans which makes it about 30 million people and less than 1 percent of worldwide are holding cryptocurrency. Whereas about 63 percent of the adults globally own smartphones. This indicates the potential of a user base for the crypto market which is about 61 times bigger than its existing ones.

However, it ignited some heated discussions among the people and many more accusations as the integrity of his supportive content get into question.

 

 

One one side people believe the crypto market has a long way to go and growth is inevitable. They go with the idea of crypto being a long-term market which is only going to get bigger so Hodl.

On the other hand, many questioned the accuracy of 8 percent of the US population holding cryptocurrencies. Srinivasan linked his tweet with the Finder survey of 2,001 Americans which found 92.05 percent haven’t invested in cryptos.

It showcases Bitcoin (BTC) as the most popular currency among the investors. Moreover, the survey also points out that the reason for not investing is because they think either it is too risky or just a scam. Many are simply not interested or think involves too high fees and is difficult to understand and use.

Also, read: Coinbase CEO Brian Armstrong Tweets “Golden Words” to Inspire Employees and Crypto Enthusiasts

Crypto community finds it hard to believe

Tweeters found the number hard to believe as pointed out by some with comments like,

“I think 8% Is generous.”,

“8%??? More like 0.8%”,

“8% of Americans do not own crypto. This is preposterous.”

Investors also didn’t find the combination between the Smartphone users and the impact of these investors on expanding the user base of the crypto market in general appropriate enough.  

This led Srinivasan to clarify that the data available shows it so and clearly it couldn’t be less than 1 percent.

The crypto community is all for the hopes of a humongous growth but this doesn’t stop them from questioning the real potential of that hope.

 

The post Crypto Community Questions Facts Over Coinbase CTO’s “ >60X ” Prediction appeared first on Coingape.


Source: CoinGape