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Bitcoin Vs. Ripple: Amidst the Bearish Trend, The Coins Gave Some Brief Moment of Trading

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There is a close link between the movement of Bitcoin and Ripple. Both of them are strong coins with a dedicated community of users. At present, they are facing some negative sentiments, but this will wash off soon.

Current Statistics (On August 22 at UTC 08:38):

ParametersRipple (XRP)Bitcoin (BTC)
Price (USD)0.26329929.91
ROI4,401.02%7,270.70%
Market Rank3rd1st
Market Cap11,339,553,299 USD178,409,831,940 USD
24-Hour Volume1,033,612,299 USD18,408,249,735 USD
Circulating Supply42,890,708,341 XRP17,890,087 BTC
Price in BTC0.00002654NA

BTC Vs. XRP Price Analysis:

Both Bitcoin and Ripple started on a declining note. In the first hours of the day, Bitcoin price has declined by 6.15% and fell to the level of 10,125.86 USD. Similarly, Ripple declined by 4.15% and landed at $0.2628. After that, the declining trend has slowed a bit, and coins kept fluctuating up and down in the range of around 2%. However, during the early minutes of the second half, on the other day, came yet another dip where BTC price declined by 2.21% and Ethereum by 0.96%.

BTC - XRP Price Prediction

After the second intraday breakdown, the digital coins have shown some strengthening for the next couple of hours. In that period, BTC hiked by 1.75% and XRP by 1.5%. The next plunge that came in around midnight dragged Bitcoin price by 2.91% and took it below $10k mark again. Similarly, XRP declined by 2.02% and landed at the level of 0.26 USD. Lately, the cryptos have been hovering at those levels and showed some bounce back, which helped then to move toward their current position.

BTC vs XRP Prediction & Conclusion:

Making any prediction in this swinging market is a rigorous task. However, for now, Ripple faces immediate resistance at $0.274454 and support at $0.259335. For Bitcoin, the immediate resistance is at 10,636.95 USD and support level at $9,800.93.

The Ripple team has done a recent assessment of the blockchain and assured that they will work toward the narrowing of the skill gap. Further, they added that in order to address the issue, the team would seek the help of experts including academia, governments, and private organizations.

Source.cryptonewsz.

Bitcoin

65,000 Swiss Retailers Will Soon Be Able to Accept Bitcoin

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Swiss crypto broker Bitcoin Suisse is partnering with European payment and transaction services provider Worldline to boost crypto payment acceptance in the country.

The firms have signed a letter of intent for a partnership to provide crypto payment services to Swiss merchants and consumers in-store and online, Switzerland Global Enterprise reported on Nov. 11.

65,000 merchants across Switzerland

The new system will be available for the 65,000 Swiss merchants currently using Wordline’s nationwide payments infrastructure, dubbed SIX Payment Services. 

Augmented with cryptocurrency payment capabilities, the traditional network will thus be evolved to promote the use of the new asset class at a mass scale across physical points of sale and in e-commerce.

Swiss crypto broker Bitcoin Suisse is partnering with European payment and transaction services provider Worldline to boost crypto payment acceptance in the country.

The firms have signed a letter of intent for a partnership to provide crypto payment services to Swiss merchants and consumers in-store and online, Switzerland Global Enterprise reported on Nov. 11.

65,000 merchants across Switzerland

The new system will be available for the 65,000 Swiss merchants currently using Wordline’s nationwide payments infrastructure, dubbed SIX Payment Services. 

Augmented with cryptocurrency payment capabilities, the traditional network will thus be evolved to promote the use of the new asset class at a mass scale across physical points of sale and in e-commerce.

source:fxstreet

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Bitcoin

Australia: DigitalX Launches Bitcoin Fund Seeded With $1.9M in BTC

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Australian crypto firm DigitalX Ltd. is launching a Bitcoin (BTC) fund, seeded with roughly $1.9 million of its own holdings in cryptocurrency.

According to a news release published on Nov. 13, the new fund is offered through an unlisted fund structure to enable investors like family offices and high net worth individuals to gain exposure to the coin via a familiar vehicle. 

Seeded with 215 Bitcoin — roughly $1.9 mln

DigitalX has reportedly been involved in the Bitcoin space since 2014, beginning with mining before evolving to offer trading and other services to the wider blockchain sector.

The Australian Securities Exchange-listed company has offered Initial Coin Offering (ICO) advisory services, blockchain consulting and asset management services.

The announcement indicates that the firm has held Bitcoin since 2013 and currently holds 431 BTC — worth roughly $3.8 million as of press time. 

To establish the fund, DigitalX is seeding 215 BTC — reportedly worth close to $1.9 million at the time of its valuation — meaning that it is “effectively swapping its interest in those bitcoin for an equivalent interest in the fund,” in DigitalX’s words. 

This will help the offering to achieve critical mass and allow DigitalX to profit from accrued fees receivable from the fund, the news release notes. 

From Nov. 25 onwards, company representatives will be touring Sydney, Melbourne and Perth to meet qualifying potential investors and promote the product.

Fund structure and prior controversies

In accordance with Australia’s wholesale unit trust structure, DigitalX says it will be providing institutional-grade custody standards and will secure client and company holdings in a high-security wallet system provided by Bitcoin custodian BitGo, which offers insurance on assets up to $100 million.

The firm will also use blockchain-based security to register and transfer units in the unit trust. 

As reported, DigitalX Ltd. was served with an Originating Application and Statement of Claim in August 2018. The claim — which pertained to an ICO investment for which DigitalX served as an advisor — was filed by a group of clients in Australia’s Federal Court, for a combined total of around $1.8 million, plus damages. 

At the time, DigitalX said it denied all claims of wrongdoing and said it would vigorously defend its reputation.

In May 2019, DigitalX entered into a settlement deed with the applicant, without any admission of liability, paying out a total of ~$275,000 in cash and $240,000 in company shares. It pledged to pursue contractual indemnities with third parties for partial recovery of the settlement funds.

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Bitcoin and Main Altcoins Testing the Patience of the Buyers

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We can describe the last 24 hours of crypto price action as a struggle between buyers and sellers that ended as a draw. Bitcoin, Ethereum, and Ripple ended as it began 24H before. Neo (+7.5%) keep moving up, followed by Ontology (+5.5%), Another coin that keeps moving up unaffected is Binance Coin (+2.93%), while Komodo (+19.92%) keeps making new highs.

On the Ethereum token section, Molecular Future (+21.6%), Link (3.38%), and Holo (+8.04%) are the best movers among the top capitalized coins.

Coin360

The market cap remained almost unchanged at $239.158 billion. The traded volume descended slightly to $29.116 billion, and Bitcoin dominance held at 65.98%.

Market

Hot News

According to the Chinses government, the new digital Yuan is not designed to kill anonymity entirely. According to them, the new digital currency is intended to enhance anti-money-laundering (AML) and terrorist financing surveillance

Fidelity Investments has appointed Michael Zinaman as product specialist for the development of a range of products focused on crypto assets.

On a press release, Facebook announced Facebook Pay. A payment service available through Facebook, Instagram, and WhatsApp. To found Facebook Pay, users can use credit and debit cards as well as Paypal.

The Chicago Mercantile Exchange announced that January 13, 2020, will be the date of the launch of its Options on the Bitcoin Futures financial product.

Technical Analysis

Bitcoin

Birtcoin

Bitcoin is struggling again in a tight range, with sellers waiting above $8,800 and buyers absorbing the liquidity below $8,670, the current level of its 200-period SMA, that seems to behave as support for the price action. Currently, the MACD signals a bullish bias, while the price is moving in the lower Bollinger band, which indicates that sellers have its say. Our levels to watch are the $8,800 and 8,667, along with an increase in the volume.

SupportsPivotResistances
8,6208,7448,940
8,430 9,050
8,300 9,250

Ripple

Ripple

Ripple is trying to create a bottom. Buyers and sellers fight to control the trend moving the price in a tight range between $0.27 and about $0.2725. MACD is starting to move up while the price still moves below the mean Bollinger line, which indicates downward pressure, although it seems buyers are waiting between $0.266 and $0.27, as seen by the volume of the last candlestick that crossed the $0.27 line.

SupportsPivotResistances
0.26700.27100.2760
0.2620 0.2810
0.2580 0.2850

Ethereum

Ethereum

Ethereum is moving in a triangular structure that seems to be a continuation of its upward trend, its last 4H bars moving between $184 and $187. We currently see that buyers jump to support the price below $184 while sellers take action above $187. A breach of the $188 level with substantial volume might end this impasse.

SupportsPivotResistances
183.50185.40188.00
180.00 191.00
178.00 194.00

Litecoin

Litecoin

Litecoin is moving at the bottom of a wide horizontal corrective range between $59.7 and $64.4. The MACD just shows the last price segment is descending, but the volume is very tiny, and any overall price move on the crypto sector will affect LTC price accordingly. What we see currently is there are liquidity waiting to buy it below $60.7 and sellers are not letting the price go beyond $62.

SupportsPivotResistances
60.0061.1062.50
58.50 63.70
57.30 65.00

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source:fxstreet

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