- Bitcoin grows by 2.08% in the last 1 day, and Ripple is also up by 1.25%.
- Both the coins may have to wait long before encountering a price rally.
Bitcoin, as the pioneer coin, has shown marginal growth over the last 24 hours and the 2.08% hike helped the coin to get an advancement of 300 USD above 10,000 USD price level. Similarly, Ripple also is up by 1.25% in this period. Both the coins have shown four major price swings each and let us find out the current statistics of the coins now.
Bitcoin – Ripple Price Statistics-
|24th August 03:22 UTC||Bitcoin (BTC)||Ripple (XRP)|
|ROI (Return on Investment)||7,543.08%||4,561.62%|
|Coin Circulation||17,893,425 BTC||42,909,539,227 XRP|
|Market Cap||185,175,955,557 USD||11,778,926,353 USD|
|Value in USD||10,332,95 USD||0.2739 USD|
|All-Time High||20,089 USD||3.84 USD|
|24h Volume||15,419,315,764 USD||958,619,745 USD|
Bitcoin – Ripple Price Comparison-
Bitcoin had its first swing between 00:28 UTC and 07:04 UTC, and in this period, the coin got a hike of 1.86% that added 186 USD to the coin. After a few hours of steep fall, Bitcoin again got strengthened by 3.49% and reached 10,431 USD by 13:40 UTC. It was, however, followed by a fall of 1.04% and this pushed the coin to 10,321 USD by 20:41 UTC. The last swing happened between 22:12 UTC and 03:07 UTC and this swing came as a fall of 1.37% and after losing 142 USD the coin reached at 10,308 USD.
Similarly, Ripple also initiated the day with a strengthening sign of 1.96%. Between 00:28 UTC and 07:01 UTC, Ripple added 0.0053 USD. The second variation happened between 10:08 UTC and 16:48 UTC and this hike of 3.02% helped the coin to reach 0.2793 USD by 16:48 UTC and this is the highest point of the coin for the day. This value could not be sustained for a long time, and it weakened soon and fell to 0.2752 USD by 20:51 UTC. After a few hours of volatility, the last price change happened between 21:48 UTC and 03:05 UTC and this swing cost the coin 0.0045 USD.
Bitcoin – Ripple Price Prediction-
Though the two coins have gained in the last 1 day, they are way behind the margin to bring a bullish rally. The medium-term of the coins is bullish, and before this year ends, both the coins are likely to grow swiftly. The details of the next probable resistance and support levels are listed below.
|Bitcoin (BTC)||Ripple (XRP)|
|1st Resistance||10540.87667 USD||0.279888667 USD|
|2nd Resistance||10673.78333 USD||0.283232333 USD|
|3rd Resistance||10905.12667 USD||0.288896667 USD|
|1st Support||10176.62667 USD||0.270880667 USD|
|2nd Support||9945.283333 USD||0.265216333 USD|
|3rd Support||9812.376667 USD||0.261872667 USD|
Adoption: 5 Business Industries That Accept Bitcoin In 2019
Bitcoin saw the light of day a decade ago, and since then, it attracted serious interest in the financial sector. Even though a lot of people use it mainly to get exposure to its price denominated in fiat currencies, there are a lot of businesses that accept Bitcoin as a payment method.
Traveling With Bitcoin
Back in 2013, the popular American travel agency Cheapair began accepting Bitcoin as a means of payment. This led to other companies implementing it as well, and now clients can use their bitcoins to book flights and hotels all around the world.
The cryptocurrency can be used to directly book a flight with Norwegian Air that also allowed it as a payment option earlier this year. Interestingly enough, the company is also reportedly looking into creating its cryptocurrency exchange.
People can also use Bitcoin to book certain hotels. For instance, a large Canadian group called Sandman Hotels started accepting BTC back in 2014. More recently, a Swiss luxury hotel, The Dolder Grand, announced that its clients could use the largest cryptocurrency to pay for their accommodation.
Entertainment & Sports
If you are into mind-boggling and adrenaline-boosting experiences, then chances are you have heard about escape rooms. Those real-life puzzle rooms where you have to solve a lot of mysteries and problems to get out of a specific space have become nothing short of accessible. Interestingly enough, there are many escape rooms that accept crypto as a means of payment.
On another note, a close variation of an online library, the Internet Archive, that includes vast loads of information, is also accepting donations in crypto. Some of the most popular ones include Bitcoin, Bitcoin Cash, Ethereum, Ripple, Zcash.
As CryptoPotato reported earlier this year, cryptocurrency adoption and usage continue with one of the most popular sports in the world – soccer. A famous Portuguese team, S.L. Benfica, allows its fans to use Bitcoin and Ethereum to purchase its merchandise.
Since Bitcoin’s idea is to be an electronic, peer-to-peer payment method, it’s only logical that online stores are among the first businesses to ever accept it. The tech giant Microsoft added the popular cryptocurrency back in 2014 for some of its products.
Since then, others were quick to follow in these footsteps. Overstock, the popular US-based online retailer, was among the first major stores to accept Bitcoin as a legitimate payment method. Those who want to purchase their electronics with crypto can do so with Newegg as well, which is a tech-focused online store.
The Food Industry
This is where things get a little bit interesting because it’s still somewhat uncommon to pay for your Sushi with Bitcoin. However, there are plenty of venues which would gladly take it. Clients can enjoy their favorite meals from pizzas to burgers while paying with their cryptocurrency assets.
Back in 2010, on May 22nd, a man from Florida called Laszlo Hanyecz paid 10,000 BTC for two large pizzas. This amount is currently worth millions, and it’s perhaps one of the most famous Bitcoin transactions in the relatively short history of the cryptocurrency. Of course, back then Hanyecz paid someone in Bitcoin just to order him two pizzas for his own FIAT but was also a way of spending your Bitcoins.
Whereas most of the information comes from fast-food chains and takeaways, Bitcoin, as a form of payment, has been recently added to other major outlets in the industry. Reports have it that the Amazon-owned Whole Foods are accepting Bitcoin in their stores as of this year.
Lambo (from Lamborghini) is a term often used in the cryptocurrency community when describing a possible price surge. The question “When Lambo?” is perhaps one of the most commonly used ones within the community. However, it turns out that Lamborghini dealerships have seen an increased number of transactions involving cryptocurrencies, especially around the 2017 parabolic price boom.
Some venues allow for the most significant cryptocurrency to be used to purchase impressive models from carmakers like Aston Martin and Ferrari. Still, clients can also choose classic cars, as well.
Furthermore, using Bitcoin for car purchases spreads beyond just supercars. Numerous local dealerships, as well as giants in the automotive game, have adopted it as a payment method.Be the first to know about our price analysis, crypto news and trading tips: Follow us on Telegram or subscribe to our weekly newsletter.
Alibaba Denies Working With Bitcoin (BTC) Company or Support for Crypto: Report
Contrary to an announcement made by Bitcoin cashback company Lolli, e-commerce giant Alibaba says it has no partnership with the platform.
Lolli announced on China’s Singles Day that its app now allows Alibaba shoppers to earn Bitcoin rewards.
According to a report by CoinDesk, however, Alibaba representatives are denying the partnership. Additionally, Alibaba clarifies that it does not support payments in BTC.
An Alibaba representative tells CoinDesk,
“One of Alibaba.com’s contractors hired a subcontractor who brokered an affiliate marketing program with Lolli. This was done without the knowledge of Alibaba.com. Alibaba.com’s contractor is terminating the relationship with the subcontractor who was working with Lolli. As a result, Lolli should no longer promote or bring traffic to Alibaba.com.”
Lolli’s head of communications, Aubrey Strobel, says Alibaba.com trialed the platform for 24 hours during the Singles Day campaign which drew attention as shoppers broke records and the day’s marketing event, an entertainment extravaganza featuring Taylor Swift, sparked global attention. Shortly thereafter “the partnership” was deactivated.
In a statement reviewed by CoinDesk, Strobel writes,
“It seems as though there was a miscommunication on Alibaba’s end and while that’s unfortunate, we look forward to the possibility of working with Alibaba.com again in the future. In the interim, Alibaba Group’s AliExpress is still live on Lolli.”
In the days following Singles Day, China is showing signs of renewing its crackdown on Bitcoin and cryptocurrencies. While President Xi Jinping has embraced blockchain in addition to removing cryptocurrency mining from a list of banned activities, rolling out mobile app lessons about Bitcoin and calling BTC the first successful use case of blockchain, the country’s anti-crypto stance has not entirely faded. It remains complex.
The Weibo accounts of leading cryptocurrency Tron and trading platform Binance were recently blocked for violating community regulations as China is rolling out new directives that are designed to squash the speculative trading of cryptocurrencies.
Bitcoin drop below $8,500 may be tied down to USDCoin
If one were to look at the unrelated rise and fall of Bitcoin vis-a-vis internal factors within the digital assets space, the relevance of stablecoins increases. Seen as a balancing tool for the volatile world of decentralized currency, the printing, volume and change in stablecoins is often tied to the rapid price movements of Bitcoin.
The recent drop below $8,500 was no different, however, it had a different stablecoin playing a tethering agent, and according to Santiment, a crypto-analytics service it wasn’t Tether [USDT]. Rather the stablecoin USDCoin should be given more weightage.
According to Santiment, the over $600 fall of Bitcoin observed on November 15 can be tied down the USDCoin’s “average age consumed in days metric, which spiked to its all-time high during the same period. They stated,
“#Bitcoin has fallen back below $8,500 for the first time in three weeks, and one likely foreshadow was $USDC‘s [USDCoin] largest “average age consumed in days” spike of all time.”
The metric, although not used frequently in charting is used to determine the number of days, on average, that digital assets are not used before being transacted on a said date, as per the Santiment website. This metric looks at the “idleness,” of the blocks within cryptocurrency’s network and hence the days since the “last time said token moved.”
Santiment stated the three elements in this price move was Bitcoin, stablecoins and large whales. As Bitcoin is being moved between two exchanges, stablecoin movement can indicate future drops in price when “previewing,” activities of large -whales. They opined that this is most often on the sell-side, with a large number of organic buyers within the market. Santiment stated,
“This spike likely occurred from the result of a large amount of $BTC being transferred between exchanges, and stablecoins often indicate future drops in price with these types of spikes by previewing a whales’ plan to make a large (most often sell-related) move.”
At press time, Bitcoin is trading below $8,500 for the first time since it marked its biggest daily gain of over 40 percent on October 23, owing to Xi Jinping’s comments about China making headway in blockchain technology to ramp up its plan of issuing a digital currency tied to the Chinese yuan.