ETHEREUM GAINING MOMENTUM IN 2020

Since the beginning of this year, Ethereum, the second largest crypto asset in the market, has experienced a daily price growth and following the 1st of January the value increase of the coin that has been over 40 percent and the uptrend is still going strong. After undergoing a high of more than 179 USD,  the digital currency has seen a healthy consolidation throughout the last week. Ethereum has been gaining momentum in the past days and the current nearest level of resistance is at slightly over 175 USD and then the currency would have to reach 179 USD.

After a crypto investor tweeted that the digital currency has been experiencing lows, Vitalik Buterin, the creator of the famous crypto asset, responded on Tweeter saying that recently Ether has been going very strong. Most of the time Buterin does not make comments about the price of Ether, hence, this response surprised a large part of the crypto Twitter. The crypto investor had also said that Ethereum was not putting much work in the last couple of years.

The comment might seem strange as Ether recently started its transition to a Proof of Stake system from the previous Proof of Work one. On the other hand, Ethereum has also been very strong in the market recently. The market cap of the digital currency switched to 7.7 percent from 7.19 percent in only a month.

Even though the short term predictions for Ethereum seem extremely good, the long-term future of the currency is still in question. If the currency breaks the resistance level at 175 USD and manages to stay above it for at least a week, the long term indicators of the coin will be positive once again.

 

In order to receive more information & details on Ethereum & ETH price, take a look at Ethereum Price updates as well as Ethereum Price Predictions.

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IPO MAY NEGATIVELY AFFECT XRP

Releasing an Initial Public Offering (IPO) by Ripple Labs, a blockchain company, could have a negative influence on the XRP digital currency price a major part of which is owned by the crypto company. According to a number of crypto analysists, an IPO can have a significant ramification for their crypto asset.

Brad Garlinghouse, the Chief Office Executive of Ripple Labs, suggested last week that during the year of 2020 the company may launch an Initial Public Offering. As the digital asset has not been doing so well recently, it is understandable why the company wants to hold an Initial Public Offering for XRP, however, it is not clear whether XRP price will get better or not.

One of the crypto analysts stated that even though Ripple has seen growth, it is still far away from its goal of changing the global financial system. The analyst said that after the IPO, the participants are going to strive for very fast results and the price of the digital currency will decrease. According to the crypto analyst, despite the partnerships of Ripple Labs with major financial institutions and banks, there is a lack of progress for the company. Liquidity of XRP has been an issue for the company recently.

If the price of XRP falls it will make raising funds even more difficult. As Ripple Labs has been selling coins, it is possible that the company doesn’t have enough funds to support its ventures. A crypto analyst by the name of Allen Scott also expressed that the ongoing sales of XRP as an Initial Public Offering would put into question the business model of the company and negatively affect it.

 

In order to get more information on Ripple & XRP price, check out Ripple Price updates as well as Ripple (XRP) Price Predictions.

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FUNDSTRAT CO-FOUNDER BTC PREDICTION

The biggest digital currency in the crypto market, Bitcoin (BTC), in the last week has dropped 6 percent of the currency’s value as the value of Bitcoin hit its lowest point during the week which was slightly over 8,200 USD on Friday. At the time of writing this, the Bitcoin price has gone up more than 8,300 USD as the recovery level for the currency for the short term is 8,370 USD. The market share of Bitcoin is currently settled at slightly over 66 percent after it shortly went down to 66.

Tom Lee, the co-founder of an independent research boutique, Fundstrat, verified that his stance on BTC is very bullish. In an interview with CNBC, Tom Lee stated that in his opinion in the new year Bitcoin will do very well. According to Lee, one of the reasons that the price of Bitcoin will rise this year is the geopolitical situation and tensions in the Middle East as well as the upcoming Bitcoin halving that will have a positive effect on Bitcoin. At the beginning of the year, Lee made a prediction that there will be a 100 percent value increase of Bitcoin this year since the halving will not be affected by the price of BTC right now.

Even though in the last seven days the price of the currency dropped by 7.5 percent, it is still a natural correction from the beginning of 2020. Most likely Bitcoin will have the most support around 7,000-8,000 USD as this space holds significant technical indicators. On the other side, there is strong resistance at the point of 8,450 USD. The reinforcement of this zone is around 50 percent Fibonacci retracement. The absolute barrier for Bitcoin to start a bull run currently is 9,000 USD.

In order to stay on top of Bitcoin & its price, follow Bitcoin Price updates and Bitcoin (BTC) Price Predictions.

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Blockchain for Europe Summit 2020

 

Next month, in Belgium will take place the Blockchain for Europe Summit 2020. Cardano, NEM, XRP will also be represented in this Summit.

As the official website states: “Blockchain for Europe represents international blockchain industry players at the EU-level.”

This conference is intended to support European decision makers in Blockchain adoption & make it succeed. This Summit has a close cooperation with national as well as international players at policy and industry levels for the intention to promote blockchain technology & its education.

The Blockchain for Europe will start with discussions regarding the governments role in blockchain, how they can secure and organize the taxation. Next parts of Summit will be about the decentralization and blockchain in the energy space.

During the Summit, speakers will also talk about healthcare sector, discussing how blockchain can contribute this sphere increasing the data security. Next in the program will come mobility in IoT age and stablecoins. Also here, Libra will be a hot topic of discussion. The next part will be tokenisation and how the future of capital markets can be secured.

The Summit will be closed with the discussion about the ultimate impact of blockchain.

The Summit will take place on Wednesday, 5 February 2020 in Brussels, Belgium.

 

 

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RIPPLE DECREASES XRP SALES IN 2019

Two years ago, Ripple’s digital asset, XRP, has been at its top with a market price of 3.84 USD, however, the price of the currency has not been heading in a very positive direction. This crypto asset has become at one point the second largest in the crypto market and nowadays it has not been doing so great. Considering its current price, XRP is down 93 percent from the high of 3.84 USD. However, XRP investors might be seeing improvement in the value of the digital currency. In the last quarter of 2019, the sales of Ripple’s cryptocurrency decreased by 80 percent.

In the second quarter of 2019, Ripple made a statement that the company would be more selective when it comes to XRP sales. Hence, in the third and fourth quarters of last year, the company did just that and, based on the last report published by the crypto company, only slightly more than 13 million USD worth of crypto assets were sold. On the other hand, in the third quarter of the year, over 66 million USD worth of XRP was sold, which was 80 percent larger than the fourth quarter. This is also comparatively much lower than the 251 million USD XRP sales in the second quarter and, in the last half of 2019, the sales of XRP have been the lowest in the last years.

Ripple Labs stated that the company intentionally decreased XRP sales in the third and fourth quarters of last year with one of the most important reasons for this was to focus on institutional sales with Ripple partners in order to build liquidity of the crypto coin in different regions around the world.

In June of last year, Ripple Labs has also started using data from CryptoCompare, instead of CoinMarketCap. After that, the daily volume of the crypto asset dropped.

 

In order to get more information on XRP & its price, check out Ripple Price updates and Ripple (XRP) Price Predictions.

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BCH ECOSYSTEM FINANCING

In the ecosystem of Bitcoin Cash (BCH), it is common for crypto miners to donate to developers and it is also a very controversial subject in the crypto community for some time now. At the same time, it is not realistic to expect developers to work on the ecosystem for free. This is the reason why a corporate donation device was created, however, it still has some issues.

One of the biggest issues in this system is the influence that corporate donors might have on the developers. On the other hand, many companies are not able to sustain the costs of maintaining the ecosystem and have not met expectations.

So to guarantee that the digital currency maintains its relevance as well as vibrant nature, the Bitcoin Cash miners that are considered the majority have shown interest in financing developers. This group of miners declared that investment in software development is extremely important and, for them, it is essential to upkeep the development of the Bitcoin Cash ecosystem. The group has the intention to create a fund for Bitcoin Cash to put over 12 percent of their mining rewards in. This process is going to take half a year, according to the group. The amount of money that will be collected depends on the future price of Bitcoin Cash in the next half a year. Regardless of that, the amount of money is going to be great and will positively impact the ecosystem of the digital currency. The funds will be accepted as well as distributed by a Hong Kong-based company and they will be used to contribute to the development of the ecosystem as well as the maintenance of other essential structures.

 

At the same time, Bitcoin is rising as the halving approaches. To keep up with Bitcoin & its price, check out Bitcoin Price updates as well as Bitcoin (BTC) Price Predictions.

 

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ETH IS THE MOST CONNECTED CRYPTO

One of the largest crypto assets in the market, Ethereum (ETH), lost one percent of its market worth since the start of yesterday. The digital currency currently has a market capitalization of more than 18.3 billion and is the second biggest crypto coin after Bitcoin. The price of Ethereum against the USD was trying to go over 171,000 USD, however, the crypto asset has been unstable recently and it fell below 170,000 USD.

A short while ago, Binance released research on the crypto asset market. According to the recent study by Binance, in the crypto asset world, currencies are becoming more and more connected with one another. In the meantime, Ether is considered the most connected to the other crypto assets in the crypto market with a 0.69 coefficient. It was also demonstrated that the correlation between digital assets enhances when the market is in unfavorable conditions.

In most cases, a 0.5 correlation is considered to be pretty high and as the number approaches zero the digital currency becomes more independent and separated from the other crypto coins. According to the study, the biggest changes in correlation between coins have been noticed in the middle of last year. This shows that the crypto coins have a higher correlation with one another as the situation in the market goes downhill. At the same time, the connection between digital currencies decreases as the market improves. However, they did say that further long-term analysis is needed.

The price of Ethereum has been consistent for the last two weeks. After Ether failed to reach 171.05 USD and fell, it found support at 168 USD. The lowest point during the week has been 161 USD, which is the barrier for bears.

 

In order to receive more information & details on Ether & its price, check out Ethereum Price updates as well as Ethereum Price Predictions.

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