Bitcoin (BTC) Poised for Parabolic Bull Run, Says Crypto Analyst – Plus Ripple and XRP, Litecoin …

From the potential for a third parabolic Bitcoin bull run to new adoption at Ripple, here’s a look at some of the stories breaking in the world of crypto.

From the potential for a third parabolic Bitcoin bull run to new adoption at Ripple, here’s a look at some of the stories breaking in the world of crypto.

Bitcoin

A veteran crypto trader known in the industry for accurately calling Bitcoin’s crash in January of 2018 says his analysis indicates BTC is now poised for a historic third parabolic bull run.

In a new interview with CNBC’s Crypto Trader, Peter Brandt explains why he’s bullish on the long-term prospects for BTC.

“You have to look really at the long-term chart that goes back to 2011, 2012. And what you’ll see there is a magnificent thing that happened going into the 2013 high. And that was a parabolic move, and it was a parabolic move on a log scale. A parabolic move on a log scale is a magnificent thing. It may only happen once in a decade.

And so we saw that parabolic advance be broken, and then we saw the market from 2013 into 2015 correction. And then it entered another parabolic move. So we have two parabolic moves in the same market. That’s just unheard of. And of course that topped in December of 2017 and we spent 2018 correcting. And I think that there is a chance that we’re going now into the third parabolic move of modern times.

The idea that you look at a market and consider it to be a long-term chart when it’s only a decade long is pretty magnificent. And then if you see the possibility of three parabolic moves in a decades period, that’s unheard of. That, perhaps, has not been seen since we saw German interest rates in the 1920s. So this is unprecedented. So the big question in my mind is are we going into a third parabolic move in Bitcoin, which would be absolutely historic. And for right now, I think the evidence comes down on the side that that is a real possibility.

The moving average that I look at, which is a weekly chart moving average, turned up here about four weeks ago. The last time that moving average turned up was in early 2015 when Bitcoin went from $350 to $19,900, depending on what exchange you’re trading. That is a quantum move, and so we have the same situation as we have seen an upturn in the long-term trend.”

In the short term, Brandt says it’s an open question whether Bitcoin will retrace and test its $3,000 bottom or its recent low around $4,200.

Ethereum

Ethereum founder Vitalik Buterin joined a panel at Microsoft’s Build Conference 2019, focused on the software giant’s Ethereum app development kit for Azure Cloud.

Ripple and XRP

UK-based remittance company Xendpay says it’s joining Ripplenet.

The company will use Ripple’s cross-border payment technology to power payments to and from Malaysia. The company has not revealed whether it plans to integrate Ripple’s XRP-based international payment solution xRapid.

We’ve partnered with #Ripple, to make your money transfers to friends and family back home in Malaysia faster, easier and more secure.

Find out more 👉 https://t.co/Jj4ENVSoJJ#SendMoneyAbroad#MoneyTransferpic.twitter.com/oC8IxyibP3

— xendpay (@xendpay) May 9, 2019

Litecoin

The crypto-friendly travel accommodation platform Travala is partnering with the Litecoin Foundation for a special campaign.

“Kickstarting the partnership with Litecoin Foundation is the #TravelWithLitecoin campaign, in which Travala.com and Litecoin Foundation will enable users to save up to 40% on hotel bookings through Travala.com and Litecoin’s LoafWallet.”

Excited to work with @travalacom to make it easier to #TravelWithLitecoin! ⚡️✈️ https://t.co/ToxBUGyNBF

— Litecoin Foundation (@LTCFoundation) May 9, 2019

Travala first added support for Litecoin in February.

Stellar

The team at Stellar is highlighting a new decentralized protocol designed to bring increased scalability and confidential transactions to the network. The layer-two scaling solution is in the R&D phase.

“ZkVM is designed from the ground up to be a multi-asset ledger that can be used with the Stellar Consensus Protocol. It can process large volumes of transactions, allow wider use of the full validators, protect confidential data, and support the creation of a custom protocol on top of the blockchain rules, without having to upgrade the network with additional features. Stellar would benefit from any of these features.”

Cardano

Cardano founder Charles Hoskinson continues his globetrotting push to promote blockchain and cryptocurrency. Hoskinson says he just visited the American Chamber of Commerce in Mongolia and met with the country’s President Battulga Khaltmaa.

Great day meeting with the American Chamber of commerce here in Mongolia, visiting the hackathon and meeting with President Battulga. Excited about the Third Neighbor Trade Act and great leadership here pic.twitter.com/73VMHQNKBW

— Charles Hoskinson (@IOHK_Charles) May 9, 2019

Tron

The crypto lending platform Cred is adding support for Tron (TRX). According to the Tron Foundation, the platform will offer up to 10% APR on TRX and other Tron-based virtual currencies.

TRON and Cred Collaborate to offer Lending and Borrowing to #TRON Ecosystem. @Tronfoundation & @ihaveCred share the same vision of making financial services more fair, inclusive and transparent using #blockchain technology. #TRX$TRXhttps://t.co/OpqHMlf15v

— Justin Sun (@justinsuntron) May 8, 2019

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Ripple (XRP) Price Could Bleed Despite Bitcoin Price Surge

Ripple price is struggling to start a rebound against the US Dollar and declined versus bitcoin. XRP must break the $0.2950 and $0.2980 resistance …

  • Ripple price remained in a bearish zone and failed to recover above $0.2980 against the US dollar.
  • The price is currently trading near the $0.2910 support and remains at a risk of more losses.
  • This week’s highlighted bearish trend line is still intact with resistance near $0.2950 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair is currently under pressure and it could spike below the $0.2900 support before a fresh increase.

Ripple price is struggling to start a rebound against the US Dollar and declined versus bitcoin. XRP must break the $0.2950 and $0.2980 resistance levels to start a strong upward move.

Ripple Price Analysis

Recently, there was an upward move from the $0.2910 support area in ripple price against the US Dollar. The XRP/USD pair traded above the $0.2950 and $0.2960 resistance levels. The price even tested the $0.3000 level, but it failed to retain gains. As a result, there was a fresh decline below the $0.2980 level and the 100 hourly simple moving average. There was a clear failed attempt near $0.3000 and the price is currently trading well below the $0.2950 level.

It traded to a new weekly low at $0.2901 and it remains at a risk of more losses. Recently, there were a couple of swing moves above the 23.6% Fib retracement level of the last drop from the $0.2996 high to $0.2901 low. However, the broken support near the $0.2950 level acted as a resistance. Besides, the 50% Fib retracement level of the last drop from the $0.2996 high to $0.2901 low capped the upward move. More importantly, this week’s highlighted bearish trend line is still intact with resistance near $0.2950 on the hourly chart of the XRP/USD pair.

Therefore, there is a strong resistance formed near the $0.2950 and $0.2960 levels. The next resistance is near the $0.2980 level and the 100 hourly SMA. A successful close above the $0.2980 and $0.3000 levels is must for the bulls to gain traction. Above $0.3000, the main resistance is near the $0.3080 level.

Ripple Price Analysis XRP Chart

Ripple Price Analysis XRP Chart

Looking at the chart, ripple price is clearly struggling to gain traction above $0.3000 despite strong bullish moves in bitcoin above $6,200. Therefore, there is a risk of more losses below the $0.2910 and $0.2900 support levels in the near term. The next important support for the bulls could be $0.2850 (the previous swing low).

Technical Indicators

Hourly MACD – The MACD for XRP/USD is about to move back in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently well below the 50 level, with a bearish bias.

Major Support Levels – $0.2910, $0.2900 and $0.2850.

Major Resistance Levels – $0.2950, $0.2980 and $0.3000.

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Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 10/05/19

Bitcoin Cash ABC fell by 0.75% on Thursday. Reversing a 0.64% gain from Wednesday, Bitcoin Cash ABC ended the day at $283.05. A bullish start to …

Bitcoin Cash – ABC – Back on the Slide

Bitcoin Cash ABC fell by 0.75% on Thursday. Reversing a 0.64% gain from Wednesday, Bitcoin Cash ABC ended the day at $283.05.

A bullish start to the day saw Bitcoin Cash ABC rally to an intraday high $290.5 before hitting reverse.

The early rally saw Bitcoin Cash ABC break through the first major resistance level at $288.56 to come up against the 23.6% FIB of $291.

In reverse, Bitcoin Cash ABC slid to a late afternoon intraday low $275.15 before finding support.

Steering clear of the first major support level at $272.32, Bitcoin Cash ABC recovered to $285 levels before a late pullback.

At the time of writing, Bitcoin Cash ABC was down 1.23% to $279.58. A bearish start to the day saw Bitcoin Cash ABC slide from a morning high $283.29 to a low $276.76.

In spite of the early sell-off, Bitcoin Cash ABC steered clear of the first major support level at $275.30.

For the day ahead, a move back through to $283 levels would support a run at $290 levels later in the day.

Bitcoin Cash ABC would need support from the broader market, however, to break out from a $280 levels.

Barring a broad-based crypto rebound, the first major resistance level at $290.65 and 23.6% FIB of $291 would likely limit any upside on the day.

Failure to move through to $283 levels could see Bitcoin Cash ABC fall deeper into the red. A fall through the morning low $276.76 would bring the first major support level at $275.30 into play.

Barring a crypto meltdown, Bitcoin Cash ABC would likely hold well above sub-$270 levels on the day.

Litecoin Loses Ground

Litecoin slipped by 0.12% on Thursday. Partially reversing a 0.64% gain from Wednesday, Litecoin ended the day at $73.76.

A choppy morning saw Litecoin rally to an early intraday high $75.59 before taking a hit. The early moves saw Litecoin break through the first major resistance level at $74.78 to come within range of the second major resistance level at $75.74.

The sell-off saw Litecoin slide to a late afternoon intraday low $72.2 before finding support. Litecoin fell through the first major support level at $73.09 and second major support level at $72.36.

Litecoin managed to recover to $74 levels before easing back into the red by the day’s end.

At the time of writing, Litecoin was down by 1.11% to $72.94. A bearish start to the day saw Litecoin fall from a morning high $73.99 to a low $72.38. Litecoin left the major support and resistance levels untested early on.

For the day ahead, a move back through to $73.85 would be needed to support a bullish second half of the day. Support from the broader market would be needed, however, for Litecoin to break through to $75 levels.

Barring a broad-based crypto rally, Litecoin will likely come up short of the first major resistance level at $75.5.

Failure to move through to $73.85 could see Litecoin slide deeper into the red. A fall through the morning low $72.38 would bring the first major support level at $72.11 into play.

Barring a crypto meltdown, however, Litecoin would likely avoid a fall through to $71 levels.

Ripple Takes a Hit

Ripple’s XRP slid by 3.68% on Thursday. Following on from a 0.49% fall from Wednesday, Ripple’s XRP ended the day at $0.2991.

A move through to an early morning intraday high $0.31239 was the only bullish move of the day. Falling short of the first major resistance level at $0.3139, Ripple’s XRP tumbled to a late intraday low $0.29697.

The reversal saw Ripple’s XRP fall through the major support levels before moving back through the third major support level at $0.2972 by the day’s end.

At the time of writing, Ripple’s XRP was down by 0.77% to $0.29679. Another bearish start to the day saw Ripple’s XRP fall from a morning high $0.29909 to a low $0.29607.

Ripple’s XRP left the major support and resistance levels untested early on.

For the day ahead, a move through to $0.3030 levels would be needed to bring the first major resistance level at $0.3087 into play.

Following Thursday’s sell-off, support from the broader market would be needed, however, for a breakout from $0.3000.

Barring a crypto rally, Ripple’s XRP would likely fall short of $0.31 levels on the day.

Failure to move through to $0.3030 levels could see Ripple’s XRP take another hit on the day. A fall through the first major support level at $0.2933 could bring sub-$0.29 levels into play.

The second major support level at $0.2874 will likely limit any downside, however.

Please let us know what you think in the comments below

Thanks, Bob

 

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Ripple’s XRP and Binance Coin [BNB] Price Analysis, Bearish trend to continue

The Cryptocurrency market is favouring Bitcoin (BTC) as the price hits the $6000 mark. While the price of Ripple’s XRP and Binance Coin (BNB) is …
  • Ripple’s XRP and Binance Coin (BNB) is following a bearish trend.
  • XRP is in the trap of bear for a long time.
  • Binance Coin (BNB) now going down after $40 Million Bitcoin hack from Binance.

The Cryptocurrency market is favouring Bitcoin (BTC) as the price hits the $6000 mark. While the price of Ripple’s XRP and Binance Coin (BNB) is struggling to get rid of the bear zone.

As you know hackers steal 7000 Bitcoins worth $40 Million from Binance due to a security breach in their system. After this news got the audience reach the price of Binance Coin (BNB) starts declining. While the price of Bitcoin has gained and hits $6000 mark after this hack.

Ripple’s XRP Price Analysis

Ripple’s XRP is trading at $0.296012 having a market capitalization of $12,471,957,180 USD. XRP price trend is still following the downward movement as the price is below $0.30 USD. The 24 hour trading volume for XRP is $846,545,140 USD.

It is down by almost -1.9% in the last 24 hours and by -1.5% in 7 days. That means Ripple’s XRP has not gained from more than one week.

Ripple XRP Price Analysis 10th May 2019
Ripple’s XRP Price chat by TradingView

Let’s have a look at the XRP price chart so that there will be a clear understanding of the price trend. Almost all the moving averages are in the bear zone and indicating strong selling pressure.

Moving Averages:- The daily Exponential Moving Average (5, 10, 20, 30, 50, 100, 200) all are in the trap of bear market. Even the Simple Moving Average (5, 10, 20, 30, 50, 100, 200) are also indicating a massive sell zone.

Commodity Channel Index (20) among the oscillators are buying zone having a value of −122.70808

Stochastic RSI Fast (3, 3, 14, 14) is 21.47146 and is between the sell and buy zone.

Binance Coin [BNB] Price Analysis

As you know Binance Coin (BNB) was in a bullish move previous month and also it hits it’s an all-time high of $25.54 USD. BNB achieved this after Binance launches DEX platform.

Also, recently Binance got hacked due to a security breach in their system. This security breach costs more than 7000 Bitcoins worth $40 Million USD. Due to this the price of BNB dropped and is currently trading at $19.09 USD (-7.49%).

Binance Coin is almost down by about -7.49% and by -18.2% in the last 7 days. So you can see that it is declining at a faster rate. Let’s have a look at the price chart.

Binance Coin BNB Price Analysis 10th May 2019
BNB Price Chart by TradingView

Moving Averages(Daily) for BNB is in a bearish move as it’s the price is below EMA (50) and SMA (50).

Awesome Oscillator (Daily) for BNB is -0.4915 which is indicating a sell zone as it’s showing bearish move.

Relative Strength Index (14) is 38.7474 is in the Neutral zone. While if we look at the overall Oscillators then it is in the buy zone.

Conclusion

After analysing the price trend of Ripple’s XRP and Binance Coin (BNB) it may be concluded that XRP and BNB both will be in the trap of bear market.

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Ripple looks more than attractive to the world’s central banks, here is why

Ripple Labs is the private company behind the Ripple blockchain, several software platforms, and the XRP cryptocurrency which the company mined …

Ripple Labs is the private company behind the Ripple blockchain, several software platforms, and the XRP cryptocurrency which the company mined in full before it launched it into the market. The company has a manifest purpose which is to use blockchain technology, the internet, and cryptocurrencies (especially XRP) to disrupt the world’s legacy international payment system.

When a bank needs to send money overseas whether to another bank or to a branch in the company in another country, it uses a messaging system called SWIFT. The system has been around since 1975, and it’s changed little if anything. It’s the only way to do business for the most part. It’s slow, expensive, and unreliable. It’s also a monopoly, so it has little incentive to improve. That’s what Ripple wants to change for the world’s banks, and, ultimately, for customers as well.

The Californian company is disrupting the international payments system one bank at the time by securing strategic partnerships with banks and financial institutions all over the world. And now, they’re trying to start collaborative efforts with a special kind of bank: the central bank.

Central banks

Central banks are nothing like the traditional banks you and I can use to store our savings or have financial services of all kinds. There’s usually only one central bank in every country; except in Western Europe, where there’s a single central bank serving all the countries in the Eurozone.

A central bank is a national institution responsible for issuing the local fiat currency. As the money is released into the market, the central bank also decides the interest rate associated with that money (because the government will have to repay the central bank in time, central banks issue currencies as loans to the financial system). Money isn’t backed by gold anymore or any other physical asset. It’s all about confidence among governments, the bank, and the market.

That function alone makes every central bank an essential player in any national economy. Those interest rates will determine how expensive it will be to get a loan from retail banks. A high-interest rate can slow an economy down. A low one tends to bring momentum into the economy, but if it’s too much, it also creates inflation.

The other jobs central banks perform is, basically, to be the country’s banks’ bank. When a conventional retail bank needs a loan, it can ask it from the central bank. As such, the central bank is also responsible for the country’s payment system. And that’s where they could be crucial partners for Ripple.

If a country’s central bank adopts Ripple as a payment system that wouldn’t force every bank in the country to follow suit. However, it would be a blessing of sorts that would surely help adoption. At the very least, it would make it easier for the country’s banks to do business with the central bank. That alone would save everybody a lot of money because transfers involving central banks are usually sizeable.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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