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Ethereum Price to Test $100 Support, Will it Come up Short?

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As all cryptocurrencies remain buried under a fresh layer of bearish market pressure, it will be interesting to see how things move ahead in the coming weeks. For Ethereum, the double-digit value is coming a lot closer over the past few days. A bit more negative price pressure will crumble the support at $100, which is a pretty interesting development, although not necessarily for the right reasons.

Ethereum Price Support Runs out of Gas

Although it has been coming for quite some time now, the Ethereum price is genuinely on the verge of dropping back into the double-digit range. It is a development most holders and speculators would rather not see materialize, but there is very little reason to expect anything different in the coming weeks. As the onslaught continues, this pressure will only intensify further, and there is no telling where the bottom will be.

Over the past 24 hours, the Ethereum price lost another 6.3% in USD value and 4.5% over Bitcoin. As long as altcoins do not inch ahead in the BTC ratio, things will not improve anytime soon. For Ethereum, it seems this is a battle that simply can’t be won. As such, a drop below $100 would require just another 2% decline at this time. It is very likely to happen pretty soon, although one never knows if that will effectively be the bottom.

There is some positive news which might keep the Ethereum price in the triple-digit range for a while longer. Bitwise has seemingly confirmed they will introduce two new liquid funds. As one would come to expect, there will be a strong focus on Bitcoin, although the company isn’t giving up on Ethereum just yet either.  Whether or not that is the smart decision, is a different matter altogether.

 

On the other hand, one has to wonder if there is a future for Ethereum’s technology other than the creation of initial coin offerings. Although the smart contracts can be used for thousands of purposes, it is evident ICOs are the main trend to keep an eye on. As the SEC keeps cracking down on such projects, it seems to be a matter of time until either new use cases are discovered, or Ethereum moves away from consumer-oriented applications and services altogether.
When looking at the current market trend from a technical analysis perspective, it seems to be a matter of time until Ethereum drops below $100. There is genuinely nothing supporting the current level whatsoever, and the bearish pressure will not relent anytime soon either. A dip below $100 may only be the beginning of Ethereum’s troubles in the price department, for all one knows. Even so, all it takes is one massive Bitcoin bounce to pull everything else in the green accordingly.
The big question is how traders and speculators will respond once the Ethereum price drops below $100. Further market chaos is not entirely unexpected, although it seems unlikely the price will drop much lower than $99 during the initial hours. If no market reversal kicks in, a slow and steady bleed to $80 or lower is very likely to materialize in the coming weeks and months. Not the scenario people envisioned in January of 2018, that much is certain.
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Ripple Prediction: XRP Could Reportedly Rally Against Bitcoin (BTC)

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According to the latest reports, Ripple’s digital asset XRP could be soon rallying against Bitcoin.

The token’s price has formed major support near 0.0000900BTC against BTC. XRP seems to be preparing for an upside break above 0.0000920BTC and 0.0000950BTC in the near term

XRP price analysis

During the past few days, there have been range moves below 0.0000920BTC in the price of XRP against BTC.

XRP to BTC has reportedly declined a few points below the 0.0000910BTC and 0.0000900BTC levels, but downsides were limited, says Etehreumworldnews.

They conclude by saying that XRP is definitely getting ready “preparing for the next crucial break either above 0.0000920BTC or below the 0.0000885BTC support. The current price action is positive, suggesting high chances of an upside break above 0.0000920BTC. If not, XRP to BTC could break the 0.0000885BTC support and trade towards the 0.0000850BTC or 0.0000840BTC level in the near term.”

What’s in the cards for Ripple and XRP?

XRP forecast regarding the price for 2019 looks positive especially considering that the coin’s price is somehow related to Ripple, the company’s developments.

Back in September 2018, XRP was able to surge by 300% triggering massive excitement in the Ripple and XRP community.

Since then, Ripple’s products became adopted by more banks and financial institutions, and today, for instance, RippleNet include about 200 members.

Just recently, Euro Exim Bank flaunted the massive benefits of using Ripple’s xCurrent and xRapid:

“Operating collaboratively with Ripple and selected counterparts, we are implementing both xCurrent [payments processing solution] and xRapid [on-demand liquidity solution] building on its extensive technological capabilities and blockchain expertise in trading systems.”

Brad Garlinghouse said that more banks would be flipping the switch and starting to use XRP as well.

Source: oracletimes

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Are Bitcoin Tumblers Smart to Use or Do They Bring Unwanted Attention From Regulators

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A bitcoin tumbler site that offers users untraceable cryptocurrency, BestMixer, could have tainted many wallets by giving them small amounts of BTC as gifts, a practice called crypto dusting.

According to a cryptocurrency security firm, Cypher Trace, if your wallet was among those that received the gift then you may be holding laundered coins. The company believes that, although BestMixer’s owners are compliant, they could have transacted with an alleged money launderer, without consent or knowledge.

According to the CEO of Cipher Trace, David Jevans, wallets that dealt with BestMixer could attract attention from relevant regulators. He also believes that anyone using a tumbler site could be suspected of questionable motives.

It All Started In October 2018

BestMixer began the promotional campaign in October 2018, whereby it set BTC to wallet addresses, adding a promotional message for their tumbler services. The amount sent was minuscule, and ranged between 666 and 888 satoshis.

BestMixer allows people to transact completely anonymously, enabling them to remain private when swiping funds with others. The funds are sourced from different pools, depending on the privacy level a person requires.

The tumbler site also perfects on a time delay in the intention of making it hard for blockchain analysts to trace transactions.

Cryptocurrency Payments No Longer Anonymous

Tracing cryptocurrency transactions used to be difficult, and lack of AML/KYC control made it difficult to link a person to their wallet addrc Be of this, criminals found an opportunity to use the mediuurm for their illicit activities; with platforms such as Silk Toad become more popular in the belief that bitcoin is untraceable.

source:cryptoking

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After a Tumultuous 2018 for Crypto and the Birth of Stablecoins, Here is what to Expect in 2019

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2018 was the year of the bear run and the stablecoin. So what does 2019 hold for the crypto world? While it is impossible to tell what exactly will happen in 2019, one can make a good guess. Here are the five likely scenarios that will play out in 2019 for crypto:

Tether Will Lose Traction

For years, there have been issues raised about how legit Tether is. Despite this, it has remained a popular stablecoin in the crypto world.

However, rival stablecoins such as Coinbase, Circle, and Gemini could offer a challenge. This will erode the monopoly that it has enjoyed in the past. Even if Tether does not shutter as Basis did at the end of 2018, it will most likely not be as dominant.

Facebook Will Mint The WhatsApp Crypto

Facebook has been interested in creating a payments platform for years. The effort started in 2014 when it poached David Marcus of PayPal.

Marcus became the head of messaging products at the company. However, he was picked to head the company’s blockchain project in 2018, which is still shrouded in mystery. Recent reports indicate that he might launch a WhatsApp-based remittance service in India. After a rough period in 2018, the company could use a win in 2019.

The Regulators Will Go After Big Fish

The SEC will take on the major players in crypto in 2019. For instance, it might decide that XRP is unregistered security.

If that happens, Ripple could be hit with huge fines. It might also decide to shut down an exchange for not adhering to anti-money laundering laws. Besides that, celebrities who have used their star power to pump ICs might be in trouble.

The Bitcoin ETF Gets Approved

As the crypto world evolves, it could help the stage for a BTC traded fund also called an ETF. After the bubble burst, investors that are more reasonable are joining the crypto world.

Right now, a firm called Bakkt, created by those behind the NYSE wants to launch a BTC futures market. This could help to improve liquidity in the crypto world. Thus far, it is known that an SEC commission is seeking to have the BTC ETF approved. Before that, a VanEck might or might not be approved next month. It is worth noting how that works out.

The Bear Run Persists

The crypto world has been in a bear run since they reached a high in 2017. Right now, various factors such as volatility in the equity market, a possible economic recession, and global geopolitics might reduce appetite for crypto assets for now.

However, there is a bit of disagreement on this. Some experts believe that prices might bounce back soon. Others believe that crypto prices have not hit their low yet.

Summary

There is a lot of agreement and disagreement over whether these predictions will happen. However, there is quite good evidence to support them if you look at the crypto world right now. It is also worth noting that this is a young industry and anything is possible.

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