From a Bitcoin trader’s new crypto warning to new exchanges for XRP, Bitcoin SV and Basic Attention Token, here’s a look at some of the stories breaking in the world of crypto.
Former International Monetary Fund economist Mark Dow says if Bitcoin doesn’t hit $5,000 – $6,000 soon, the bear market could return in full force. And, if Bitcoin drops below $3,190, Dow says even long-term hodlers may want to consider selling their positions.
Still a beautiful chart. If bitcoin can't bounce to at least 5k-6k soon, it's a really bad sign for the cyberbulls. And if it breaks down thru the yellow line at any point, even the HODLers need to GTFO. $BTC $XBT pic.twitter.com/FqqyzE1mhb
— Dow (@mark_dow) December 27, 2018
Dow already successfully bet on Bitcoin’s long-term bear market when he decided to short Bitcoin at the height of last year’s crypto frenzy. After Bitcoin’s steep and steady declines throughout all of 2018, he closed his big short just over a week ago.
Bear market trends indicate a very long recovery after a steep and prolonged decline.
According to Donald Pendergast at CoinCentral,
“The nearly 93 percent decline witnessed between November 2013 and February 2014 took only 84 days to complete. Once the bottom was in place, it took a whopping 1,106 days for Bitcoin to achieve a new ATH (March 2017).
Bitcoin’s nearly 94 percent decline in 2011 took nearly 500 days before reclaiming a new ATH. The NASDAQ 100 index (QQQ) decline of (83.6) percent (March 2000 to October 2002) required an incredible 16.75 years before being able to make a new ATH.”
Ripple and XRP
XRP is coming to the new UAE crypto exchange Bitex which launched at the end of November. The Dubai-based exchange offers customers access to various payment options, including credit or debit cards, as well as bank transfers. The crypto exchange also offers a cash deposit service.
Says Monark Modi, Bitex UAE’s CEO,
“UAE residents have been calling out for more options to securely buy and sell digital currencies… While residents have been able to use international trading platforms for some time, having access to a local exchange is far more convenient. Trading via a UAE-based company allows customers to easily deposit local currency rather than first having to exchange it for a more widely-accepted currency.”
In addition to #Bitcoin, #BitcoinCash, #Ethereum and #Litecoin, Bitex UAE also now offers customers #Ripple. To sign up for a Bitex UAE account, visit https://t.co/9jgcm4gLqk and start trading today.#Cryptocurrency #Crypto #CryptocurrencyMarket #CryptocurrencyTrading #BitexUAE pic.twitter.com/cWKChpaOUN
— Bitex UAE (@bitexuae) December 27, 2018
Meanwhile, The Next Web’s Hard Fork has released its yearly review on Ripple and XRP. You can check it out here.
Ethereum, Litecoin, Dogecoin and Enjin Coin
The Ethereum-based crypto gaming platform Enjin Coin just released a new ad-free Ethereum blockchain explorer.
EnjinX is up and running, with support for Litecoin and Dogecoin coming in 2019.
More than 70 decentralized apps are now live on the Tron Network. You can check them out on DappReview.
Stellar, Bitcoin SV, Basic Attention Token, Mobius
US cryptocurrency exchange Bittrex has listed its first Stellar-based ICO.
Mobius is a mobile crypto wallet designed to integrate fast and free mobile payments onto smartphones.
Bittrex has also added Basic Attention Token and Bitcoin SV (BSV) to its USD crypto-to-fiat markets.
Launch Update: Basic Attention Token (BAT) and Bitcoin SV (BSV) have been added to the USD (Fiat) markets. Eligible Bittrex accounts are auto enabled for USD trading. Those wanting to deposit/withdraw US Dollars via wire should submit an application here: https://t.co/KA248OA2Bz pic.twitter.com/tpCmvwfh29
— Bittrex (@BittrexExchange) December 27, 2018