Bitcoin and Crypto Analysts ‘Smoking Fairy Dust’, Plus Ripple and XRP, Ethereum, Tron, Litecoin, IOTA, VeChain, Waves: Crypto News Alert
From Bitcoin and crypto technical analysis gone mad, to the future of VeChain, here’s a look at some of the stories breaking in the world of crypto.
A veteran technical trader who called Bitcoin and Ethereum’s big drop in 2018 says many crypto analysts on Twitter are predicting huge jumps in the price of BTC without hard evidence.
Peter Brandt told CNBC’s Crypto Trader that tried-and-true principles are what matter most.
“I see a lot of people who’ve been smoking fairy dust. I mean, it’s not real technical analysis. It’s make-believe technical analysis. What I see are a bunch of charts that are being posted and marked up that in no way reflect some of the old tried-and-true principles of technical analysis. People are reinventing technical analysis to fit their own personality and their own bets. I mean, I see a bunch of people – you look at them and they look like maps to the outer galaxies, quite frankly.”
According to Brandt’s current analysis, Bitcoin and Litecoin are gearing up for a big move.
“I look at the major trend in Bitcoin and I still see the major trend being down. And I want to trade with the trend. But I would be willing to try the long side in Bitcoin if the head and shoulders bottom completes.
I am long Litecoin. I’ll give a disclaimer right now: I’m long Litecoin because I saw the head and shoulders bottom in Litecoin. And so that is a market that I’m going to trade. I think the next couple days are going to really be key and are going to be the determination of the next $1,500 dollar move in Bitcoin.”
Bitcoin, XRP, Ethereum, Litecoin
The tokenized stock and crypto trading platform DX.Exchange says it’s recovered from a major security snag.
The exchange, which listed Bitcoin, XRP, Ethereum and Litecoin on day one, says a login bug that exposed sensitive user data has now been fixed.
“We would like to thank the vigilant reporter and our supportive community who, together, brought this issue to our attention. We are happy to report that the vulnerability has been successfully patched, and no user funds were compromised. Our launch was met with a stellar response from our community, eager to trade cryptocurrencies and digital stocks. Customer funds were always safe. Our multi-layer, advanced monitoring and defense mechanism was able to avoid any further issue.”
Despite the patch, concerns about the exchange’s security persist. One post in particular from Reddit user Priest_of_Satoshi claims a number of red flags remain.
Ripple continues its push to educate college students about crypto and blockchain technology.
After hosting a group of Wharton undergrads at Ripple’s HQ in San Francisco, the startup invited a group of students from Harvard Business School to give them the scoop on the company’s efforts to shape the future of finance.
.@bgarlinghouse met with students from his alma mater, @HarvardHBS, to discuss the future financial system and how today's students will help build and shape this new ecosystem. pic.twitter.com/9uPiRa8fNs
— Ripple (@Ripple) January 11, 2019
Tron’s weekly report on the platform’s decentralized apps is out. According to the report, Tron’s DApp accelerator program received nearly 300 submissions in the realm of gaming, entertainment, gambling and more.
IOTA just rolled out a new feature giving validators who power the network a big boost in performance.
“We know you have all been waiting for this for quite some time. Finally we have finished implementing local snapshots, a feature that allows you to run your node without storing the full transaction history. This means faster synchronization, lower system resource requirements, and no more waiting for global snapshots to prune the database.”
The team at VeChain just released a retrospective on 2018 and a look ahead to the new year.
“Firstly, we will focus on growing and enabling enterprise applications and DApps supporting real business activities. We will provide not only the developer documentation and tools but also smart contract templates, SDKs and turnkey package templates of those essential components needed for most blockchain application such as wallet, tokenized asset issuance, data storage, digital asset management…
Expanding our partners’ network including consulting and technology partners across the globe and making them experts on VeChain’s technology and solutions is another key mission of ours in 2019. We have created blockchain solutions meeting the needs of enterprises and developers at different levels, from zero development to full customization, which tremendously helped us on board enterprise users…
In addition, through the collaboration with established enterprises, we understand that mass adoption also requires an open and, often times, innovative regulatory and legal environment. Blockchain applications in real business environments would be the key driving force of regulation and legislation development. And VeChain is contributing to that through our collaboration with national governments across multiple regions.”
The crypto debit card platform Wirex just added support for Waves.
Users in the European Economic Area can buy, store, convert and spend Waves with the Wirex Visa card. Wirex also supports Bitcoin, XRP, Ethereum and Litecoin.
WAVES @wavesplatform joins #Bitcoin, #Litecoin, #XRP and #Ethereum meaning that Wirex users in the EEA can now buy, store, convert and spend #WAVES with their Wirex Visa card 🙋♂️https://t.co/G1J9F702Cd
— Wirex (@wirexapp) January 10, 2019