From Bitcoin's price decline to $ 7,900 before hitting $ 10,000 to Ethereum, it is possible to test the $ 200 level. Here are some highlights in the crypto market.

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Bitcoin news

Former Wall Street trader, Tone Vays said that Bitcoin must create a higher low and then begin to gradually rise towards the threshold of $ 10,000.
Vays said that Bitcoin has not yet formed a higher bottom after the bear market. He predicted that BTC would be rejected somewhere above $ 9,700 (Fibonacci 0.328 retracement), and then drop to the area above $ 7,900.

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Bitcoin price analysis chart | Source: Messari

Vays then predicted that BTC could rise above $ 10,000, and will enter the bull market “in the next four years.”

(embed) https://www.youtube.com/watch?v=8i3h3K0-srM (/ embed)

Bitcoin could reach the threshold of $ 14,000

CryptoKea analyst noted that the trend of the search term “Buy Bitcoin” has recently reached its highest level in the past 7 months – since June 2019. More specifically, the data has reached level 10 on the basis of long-term.

Every time you reach this level of 10, the price of BTC has an important move. For example, in November 2013, it marked a long-term peak for the bull market that took the cryptocurrency above the $ 1,000 threshold. And in 2017, it marked the beginning of an exponential price surge, bringing BTC from under $ 3,000 to $ 20,000.

The current signal, likely marking the beginning of a parabola, takes the price of BTC to a level above the $ 14,000 threshold.

Bitcoin is no longer paying too much attention in the financial industry

Former NFL player Joe Theismann, who had a brief time participating in the cryptocurrency market, said that Bitcoin has fallen backwards, no longer drawing people's attention.

In an attempt interview with Bloomberg on January 30, Joe said:

“I do not exclude the possibility that it will grow again at some point, but I think it is currently in a downtrend.”

When talking about the topic of cryptocurrencies, Theismann mentioned accepting the users: “Until you can convince people to buy everything with cryptocurrency, it will become a challenge for the financial industry. main ”.

2,000 Bitcoins have been transferred to Binance

According to Whale Alert, the whale has just sent 2,000 BTC (worth about $ 18.6 million) to Binance. This action raises concerns that this may be a sign that the selloff is imminent.

The sender's address has been active on the Bitcoin blockchain for some time. It still holds 4,053 BTC and has sent and received over 60,000 BTC in transaction history.

Ethereum News

Vitalik points out the exact terminology used in the DeFi field

Decentralized financial applications (DeFi) experienced faster growth than any other sector in the cryptocurrency industry last year.

Recently, there was an article that drew a lot of community attention because it implied that “loans” could be made without paperwork or verification.

However, the term “lending”, which was used in conjunction with DeFi, was deemed incorrect by Vitalik, and this seems to have caught the attention of Ethereum co-founder.

“Every time I see an article … saying that defi gives you the ability to” borrow money without paperwork, “I'm quite scared.”

Buterin went on to explain that the reason common loans have paperwork is to verify that the borrower can repay the money. This raises questions to DeFi about how to guarantee repayment if someone can simply borrow without “paperwork.”

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“Here money never leaves your hands, it just turns into a leveraged position.”

The exact term, as Vitalik points out is where the debt is pledged or CDP.

Ethereum price can test the $ 200 level

Analyst Cactus posted a chart with a triangle pattern and suggested that it could be broken. The analyst expects ETH to test the $ 200 resistance soon, however, he acknowledges there could be a pullback.

On the chart, Cactus drew a curve that, in his opinion, could bring the price of ETH much higher than its all-time high of $ 1,345 in January 2018.

Ripple news

Whale Alert announced, the whale made two major XRP moves today, including one for 28,100,000 XRP (about US $ 6.7 million) from the Bithumb exchange to an unknown wallet. The remaining move is worth nearly 180 million XRP (about $ 43.5 million) between unknown wallets.

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Whale moving XRP | Source: Whale Alert

News Litecoin

The Litecoin community announced on its unofficial Twitter that 138 Litecoin and 0.03 Bitcoin (totaling about $ 12,000) were donated to MimbleWimble in the first month of 2020.

Previously, Charlie Lee, the founder of Litecoin Foundation promised to donate double the amount of money raised for the monthly implementation of MimbleWimble. So, the total fundraising is about 24,000 USD.

According to Charlie Lee's previous statement, developer David Burkett will work 30 hours a week, divided into 15 hours for Grin ++ and 15 hours for MimbleWimble.

News Monero

Monero witnessed a major network upgrade in November 2019, changing from the CryptoNight R algorithm to RandomX. The upgrade is part of its relentless effort to combat ASIC, thus ensuring decentralized mining by empowering CPU miners. The latest network upgrade also saw the introduction of RPC-Pay, an innovative way to encourage server operators to earn Monero as an alternative to advertising revenue.

“The RPC-Pay introduced in the latest Monero version is really cool. Think of the Electrum server mining for a few seconds and sending you shares to use it. A form of anonymous & off chain micro-payment creates the market to launch public RPC nodes. ”

Ontology news

Ontology is making an attempt to break out of the descending resistance. Ontology prices have been falling since October 27, 2019, but Crypto analyst Caj believes that this decline is coming to an end. He tweeted about the ONT chart and noted that it could soon break out of the current descending resistance.

READ  Will Ethereum be the biggest boom in the 2020 bull market?

The main support area is found at 710 satoshi. Although it held up most of the time, the price dropped below this level twice before the breakout.

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Ontology price chart | Source: TradingView

The weekly chart shows prices that have made a double bottom between September and January, combined with a bullish divergence in the weekly RSI. This is a very strong sign that often leads to a reversal pattern.

If this happens, the nearest resistance areas will be found at 1,100 and 1,500 satoshi. A break above these thresholds will confirm that ONT is in a bull market.

News DeFi

Decentralized financial application (DeFi) is a steady growth trend in the digital asset industry, recently reaching a new peak in locked-in funds.

The adoption of DeFi is booming in 2019 and the recent trend shows that adoption will continue to grow in 2020. In fact, it has just broken a new record in 2020 and currently has about 852.1. million dollars locked in a contract. Previously, this figure was only $ 600 million in mid-December.

News Go.Exchange

In one notification Released today, the GO.Exchange development team says they started building the project in the summer of 2018. However, it was unable to catch up to the industry.

The notice implies that regulatory pressure also leads to the shutdown of the exchange. GO.Exchange apparently received a license in Malta but decided to stop the effort due to external factors.

Currently, the exchange is scheduled to close on March 15, 2020, and social media accounts including Telegram, Reddit, and Twitter will be shut down by March 31, 2020.

Other news

Lending is the most profitable sector on the crypto market

In the cryptocurrency world, there are two most popular types of tokens: smart contract tokens (like Ethereum) and currency tokens (like Bitcoin). But when we look at the average return on investment (ROI) for the past 90 days and years, there's only one thing that stands out and is the winner, that's the field of lending.

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Chart of return on investment (ROI) of crypto sectors Source: Messari

Lending, a relatively small sector (including 8 tokens), took the top spot thanks to 05 token tokens that had a positive average ROI increase (in USD) in both the last 90 days and the year including : Maker, Nexo, Ripio Credit Network, Aave, and Cred. Overall, the tokens in the lending industry have posted an average ROI of more than 75% in the past year and 15% in the last 90 days.

The amount of stablecoins worth 6 billion USD is being held in the market

The total fiat value held on all stablecoins is currently worth nearly $ 6 billion including Tether, TrueUSD, USD Coin, Paxos Standard, Gemini, DAI, BitUSD and sUSD.

According to the Messari Stablecoin Index, Tether accounts for the majority of the market, with $ 4.82 billion, followed by USDC at $ 454 million and PAX at about $ 210 million.

Quantum Economics founder and market analyst MatiG Greenspan believes that this amount of stablecoins will move into Bitcoin and other digital currencies when the market actually begins to move. Such a move will provide a strong incentive for price increase for the market.

Bitcoin CME futures exceed $ 100 billion

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The Chicago Mercantile exchange, or CME, has exceeded $ 100 billion in volume for its Bitcoin futures trading product.

“The total transaction value of the CME Bitcoin Futures has exceeded $ 100 billion since its launch in December 2017,” said CME Group CEO and Chief Investment Officer, Tim McCourt. know.

Facebook again put “electronic money” into sight

Twitter user Elijaboom has posted that the Facebook messenger application will not allow him to send a link about crypto to a collaborator in Turkey. He noted that it seems that Bitcoin and websites and cryptocurrency related content could once again be considered a violation of Facebook community guidelines.

Facebook, the social networking giant, seems to be constantly controversial as it may be censoring Bitcoin and cryptocurrency websites again. It seems that the related articles are also in view of violating community guidelines.

Microsoft found the cryptocurrency mining script in a photo of Kobe Bryant

Cybercriminals don't hesitate to make money from the tragic death of Kobe Bryant. Microsoft Security Intelligence has found a piece of cryptocurrency mining code in the background image of the deceased basketball player.

“While the world mourns the loss of NBA legends and cybercrime, it is as expected to take advantage of this tragedy. We found a malicious HTML file set as the Kobe Bryant wallpaper, containing the coin mining script. ”

Crypto became the subject of a congressional hearing

At the hearing on January 30 before the Fintech Task Force, U.S. House of Representatives, lawmakers focused on putting cryptocurrencies into the conversation.

The hearing, called “Is Cash Still King?”, Looked at the rise of online mobile payments, testimony from payment providers witnesses, consumer advocates, and non-profit financial institution.

A number of written testimonies provided by witnesses have mentioned cryptocurrencies. Fintech Task Force members are clearly looking seriously at cryptocurrencies and blockchain technology as the answer to financial problems and slow payment processes.

Viet Cuong

Bitcoin Magazine

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Crypto loans are only from 5.9% annual interest rate – you can use the money effectively without selling coins. Earn up to 8% interest per year with stablecoin, USD, EUR & GBP with insurance up to 100 million.

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