Analyst: Bullish Bitcoin Trend Points to 25-50% Surge – Plus Ripple and XRP, Tron, Ethereum, Litecoin, Augur, IOTA
From a bullish Bitcoin trend to Ethereum’s enterprise dominance, here’s a look at some of the stories breaking in the world of crypto.
Crypto trader and Bitcoinist contributor FilbFilb says an analysis of Bitcoin shorts on the leading derivatives exchange BitMEX suggests Bitcoin is poised to rally 25-50%.
“There is a well established 12 month trend going on. If this formula holds it implies that Bitcoin will rally 25-50%.”
Crypto analyst Flood told his 61,000 followers on Twitter that a break above $4,300 would trigger an ugly scene for Bitcoin bears and pave the way for additional gains.
— Flood [BitMEX] (@ThinkingUSD) March 18, 2019
On the flip side, FxPro financial analyst Alex Kuptsikevich told Marketwatch that BTC’s stagnation and inability to stay above $4,000 is unnerving, and reminds him of Bitcoin’s price action last year before the drop below $6,000.
“The current absence of a dynamic is a bit scary, as it resembles the October decline, which ended in an impressive selloff.”
Ripple and XRP
Ethan Beard, a senior executive at Ripple’s development arm Xpring, says the company’s new partnership with blockchain gaming company Forte brings the San Francisco startup to an industry at the forefront of technology adoption.
“Video games have long been quick to adopt new technology, from console to the PC to mobile. Now, blockchain will help game designers who’ve had a hard time facilitating an economy that can serve all types of players.”
Ripple and Forte will offer a total of $100 million in grants to gaming companies looking to add blockchain tech to games with more than 50,000 active daily users. According to Beard, Ripple will offer grants to game developers in the form of XRP, which they will need to convert to fiat to pay for services that aren’t yet on board with crypto.
A new study shows 62% of enterprise blockchain projects are being built on Ethereum. According to Provide Technologies, blockchain adoption is gaining steam, and will likely be a mainstream technology by 2025.
The head of business development at the Litecoin Foundation, Alan Austin, just dropped a video highlighting the importance of Litecoin’s smallest units of accounting, called Lites.
One LTC equals 1,000 Lites, a user-friendly name designed to promote adoption of micro transactions on the network.
Let there be Lites! The importance of Litecoin’s smaller unit of accounting.@jonnylitecoin @cryptorecruitr @I_Make_Lemonade @lisamightydavis @ecurrencyhodler @CommonEnemyInc @BigEtheword @TheRealXinxi @LTCFoundation @johnkim77 @DaddyCool1991 @Litecoin_MAD @SatoshiLite pic.twitter.com/8YaEK5WqI6
— Alan Austin (@alangaustin) March 18, 2019
New analysis from LongHash shows the popularity of the decentralized betting platform Augur spiked during the Super Bowl.
“This year, the Super Bowl’s status as a popular event for gambling seems to have benefited Augur in the form of a significant increase in volume. Roughly $500,000 USD was wagered using Augur on Super Bowl Sunday, and no other event has come close all year.”
This is Augur's transaction volume in 2019 👇
Can you tell which day the Super Bowl was on? 😂
— LongHash (@longhashdata) March 18, 2019
Tron’s latest weekly report is out. The report highlights Tron’s continued efforts to add private transactions, and reports that BitTorrent Token (BTT) is now listed on 35 crypto exchanges.
A new video outlines how IOTA can be used to power Smart Cities. IOTA is hosting a contest via Hackster.io to challenge developers from around the world to solve inter-city challenges submitted by a variety of corporate entities. Autonomous vehicles and smart grids are two classic use cases.