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Massive Bitcoin Bull Signal Triggered, Says Circle CEO – Plus Ethereum, Ripple and XRP, Litecoin, Tron

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From the crypto industry’s reaction to President Trump’s stance on Bitcoin to new support for Tron and BitTorrent Token, here’s a look at some of the stories breaking in the world of crypto.

Bitcoin

The CEO of the Goldman Sachs-backed crypto exchange Circle says President Trump’s revelation that he’s no fan of Bitcoin may be the biggest bull signal in BTC’s history.

Jeremy Allaire says Trump’s tweetstorm on Bitcoin is placing Bitcoin on the global stage like never before and will ultimately lead to a larger discussion and embrace of digital assets.

The CEO of the San Francisco-based crypto exchange Kraken is also weighing in.

Jesse Powell points to the strengths of cryptocurrencies and says they are far more traceable than fiat.

The New York-based exchange Gemini also responded, highlighting a recent quote from its co-founder Tyler Winklevoss, comparing the current monetary system to the mechanics that power Bitcoin and cryptocurrency.

Ethereum

The latest edition of the Into the Ether podcast is out.

Host Eric Conner talks with the co-founder and CEO of TokenCard Mel Gelderman about the company’s long-term vision of creating a self-sovereign banking service on Ethereum.

Ripple and XRP

The founder of Ripple-backed XRPL Labs is cautioning traders who think the company’s XRP-based banking app called XUMM will have an immediate impact on the price of the digital asset.

In a series of tweets, Wietse Wind says the app will have a slow roll out and its potential impact will be gradual.

“Yes, I do believe what we are building is going to be one of the many things that potentially help grow the ecosystem, utility, use cases, etc. But, people expect XUMM to ‘do something for the price.’ Like, immediately. A big bang.

When it comes to XUMM, I can ensure you there will not be a big bang. People will install, setup, try and keep on holding. Meanwhile we will work on updates, licenses and development and recipient and partner implementations so there are actually places to pay using XUMM.”

Litecoin

The Litecoin Foundation continues its unique efforts to raise funds and support the LTC ecosystem.

The Foundation has released a new t-shirt celebrating the upcoming Litecoin halving, which will cut the reward for mining on the blockchain from 25 coins to 12.5 coins.

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Cryptocurrencies

Cryptocurrencies price prediction: Bitcoin, Ethereum & TRON – European Wrap – 17 October

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Bitcoin price prediction: BTC/USD recovery stalled on approach to $8,100 – Confluence Detector

Bitcoin (BTC) is changing hands marginally below $8,100. The first digital coin managed to regain some ground, having gained about 1% of its value in a matter of hours ahead of the European opening. Despite the recovery, BTC is vulnerable to further losses as the upside momentum is weak so far.

Bitcoin confluence levels

During early European hours BTC/USD  tested area above $8,100. Despite the recovery from the intraday lows, the upside momentum remains weak, which poses risks for Bitcoin. There are a few barriers both below and above the current price, though the move to the South looks like a path of least resistance. 

Bitcoin price prediction: BTC/USD recovery stalled on approach to $8,100 – Confluence Detector

Bitcoin (BTC) is changing hands marginally below $8,100. The first digital coin managed to regain some ground, having gained about 1% of its value in a matter of hours ahead of the European opening. Despite the recovery, BTC is vulnerable to further losses as the upside momentum is weak so far.

Bitcoin confluence levels

During early European hours BTC/USD  tested area above $8,100. Despite the recovery from the intraday lows, the upside momentum remains weak, which poses risks for Bitcoin. There are a few barriers both below and above the current price, though the move to the South looks like a path of least resistance. 

Ethereum market update: ETH/USD recovery capped by $178.00

ETH bottomed at $171.90 on Wednesday. By the time of writing, the second largest coin recovered to $176.78, however, the upside momentum is too weak to allow for an extended recovery towards critical $180.00. ETH/USD has gained 1.2% since the beginning of the day amid global recovery on the cryptocurrency market led by Ripple’s XRP.

Ethereum

TRON price analysis: TRX/USD crashes to 14th place on CoinMarketCap

At the time of writing, TRX/USD is changing hands at $0.0148. The coin has lost over 6.5% in recent 24 hours, and the downside momentum is still growing. Currently, TRON takes 14th place in the global cryptocurrency market rating, losing three positions to Monero (XMR), Cardano (ADA) and LEO. The total market value of Tron reduced to $983 million; an average daily trading volume registered at $626 million.

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China is Even “Closer” to Launching its Own Cryptocurrency

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While Libra is fighting obstacles, China is on the track to release its own crypto.

While Libra is fighting obstacles, China is on track to launch its own cryptocurrency. 

Cryptocurrency and China: closer and even closer. In August, the country said that its own token is just around the corner. The recent reports reiterate this “closeneness.” 

To be fair, China’s efforts are remarkable. Why? Because the country has banned and re-banned crypto. As a result, 88 Chinese cryptocurrency-exchanges closed. 85 projects for the initial placement of tokens seized to exist.

At the same time, in March 2019, the People’s Bank of China refused to recognize cryptocurrency as a means of payment, referring to its unreliability. However, it seems like it is a matter of who actually owns the cryptocurrency — the Chinese government or someone else. Thus, in August China’s central bank announced it is going to launch CBDC very soon.

It seems that the continuously worsening trade war between the U.S. and China only encourages this project.

What will be the main features of China’s crypto?

The CBDC coin will have a 2 level structure due to the country’s complicated economy. Mu Changchun, Deputy Chief of the People’s Bank of China (PBOC) explained, “The People’s Bank of China is the upper level and the commercial banks are the second level. This dual delivery system is suitable for our national conditions. It can use existing resources to mobilize the enthusiasm of commercial banks and smoothly improve the acceptance of the digital currency.”

He also mentioned that CBDC’s design will to some extent replicate Libra. And it will handle 30.000 transactions per second.

CBDC will be supported by Alipay and accessible through WeChat. Curiously, Alipay officially advised a few days ago they will ban any crypto payments.

The soon-to-be launch has generated a lot of opinions. In particular, Ripple’s CEO, Brad Carlinghouse believes it should be “a call for action for the US” if they want to remain a leader in the cryptocurrency industry.

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Which Cryptocurrency Should I Invest in 2019?

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What is the best cryptocurrency to invest in 2019? Lots of new and existing crypto investors ask this question. There are so many cryptos to invest in, but many analysts recommend investing in the oldest cryptocurrency in existence. If you have heard of digital currency, then Bitcoin must be the first you would come across. Its dominance is the highest in the market. If the coin continues to rise, it may just be the best cryptocurrency to invest in 2019.

Why you should invest in Bitcoin

Bitcoin price changes every day and it has seen several lows and highs in the last couple of years. BTC price went from $76 to $20,000 in a massive bull run in December 2017. After reaching this point, the coin dropped again to $6,000 and picked up again in April 2019. Since this time, it has fluctuated up and down.

With such a volatile market, how can you pick an excellent time to invest in Bitcoin? Here are some ways to find out:

One event was when BTC was split into 2 cryptos – Bitcoin and Bitcoin Cash. The investors who took advantage of this opportunity made huge profits while doubling their investments.

BTC price dropped a while later and investors panicked and sold off their Bitcoin which pushed the price below $10k. Bitcoin is the best long-term crypto investment you can make in 2019. Now is the best time to buy since there are only a few BTC left to be purchased. Also, BTC is the most secure investment of crypto and it also controls the market to a large extent.

In addition, the technical competence of bitcoin with Schnorr signatures, Segwit, MAST, Bulletproofs, MimbleWimble, Confidential Transactions, Drivechains, Sidechains, and Lightning Network is on the rise. All these factors come together to make it hard for other cryptos to catch up.

How to invest in bitcoin

You can buy Bitcoin from popular crypto exchanges such as Binance and Coinbase. The process is easy and you can easily store it in so many wallets on the web or even hardware wallets. It is an excellent time to have Bitcoin in your portfolio and it can take up 40-50% of the crypto portfolio.

However, if you want to venture into a Bitcoin investment, you need to remain updated with the latest trends and news around BTC. Most times, when there is new information about technical improvement in BTC, it may be a good time to buy. Another good time to buy is when the price of Bitcoin crashes because it is a good opportunity to buy at a low price.

If you haven’t invested in cryptos at all, then starting with BTC is the best option. Despite missing the first opportunity to buy bitcoin when it was cheap, investing now is still an excellent idea.

Investing in cryptos generally can be profiting. However, it means that you must also be ready to lose money. All the expert predictions in the world can not be correct all the time. No one in the space truly knows what will happen to the price of a cryptocurrency.

The best advice to heed when it comes to investing is only investing money that you aren’t afraid to lose. Keep this in mind before investing in any cryptocurrency.

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