Crypto Bulls: Bitcoin (BTC) Targets $330,000 With Short-Term Danger Ahead – Plus Ripple and XRP, Ethereum, Litecoin, EOS, Tron, IOTA, Enjin, Binance Coin
From a look at Bitcoin’s short and long-term prospects to the push for real world use of Ethereum, EOS and Tron, here’s a look at some of the stories breaking in the world of crypto.
Crypto analysts are crunching the numbers on Bitcoin’s past bull runs to predict where the leading crypto may be heading next.
An analyst known as Galaxy told his 50,000 followers on Twitter that parallels between Bitcoin’s price action in October of 2015 and April of this year indicate BTC could be poised to hit $330,000 by the end of 2021.
Observing structure similarities between the monthly candles of October 2015 and April 2019.
October 2015 marked the start of most significant bull run in BTC history after a 6500% price surge in 2 years.
Another similar bull run puts BTC at over $330K/coin, by the end of 2021. pic.twitter.com/KTCRLd8jRH
— Galaxy (@galaxyBTC) May 1, 2019
Fellow analyst Scarface told his 23,000 brethren that his math on Bitcoin’s past cycles point to a high between $102,000 and $336,000 if and when a new bull run takes off.
“Each time Bitcoin has crashed 70%+ the following cycle peak has been 5.1-16.89 times higher than the previous. If that happens again then the next all-time high will be roughly $102,000 – $336,000.”
Meanwhile, trader DonAlt is issuing a word of caution to his crew of 93,000 followers. He says the especially high price of BTC on the crypto exchange Bitfinex is a potentially ominous sign in the short term.
No matter how high we go I expect sub 5k Bitcoin pretty soon.
I'll be selling most of the spot BTC I bought at 3.4k into the next spike up and hedge the rest.
Bitfinex having a larger than $400 premium is not okay and, in my opinion, won't end well.
Sad state of affairs really.
— DonAlt (@CryptoDonAlt) May 3, 2019
EOS, Tron, Ethereum
The latest numbers show more money is moving through decentralized apps (DApps) on EOS than those on Tron and Ethereum.
According to DappReview, 94,300 users spent more than $24.2 million on EOS DApps in the last 24 hours.
94.3K users spent more than $24.2 million (4.7 million EOS) on #EOSDApps in last 24H
— DappReview (@dapp_review) May 3, 2019
Ripple and XRP
Ripple’s chief technology officer says any of the company’s clients can essentially begin using the XRP-powered cross-border payment solution xRapid in an instant. And according to David Schwartz, interest in xRapid is on the rise.
Yep. And we are seeing interest from existing customers for new functionality like xRapid.
— David Schwartz (@JoelKatz) May 3, 2019
BlockFuse chief operating officer and Litecoin supporter Andrew Yang says LTC could play an important role in the adoption of the Lightning Network.
Yang told LongHash that interoperability on the Bitcoin and Litecoin Lightning Networks could make it easier and cheaper for merchants to get on board.
“It’s faster and cheaper to establish a channel,” (no, not the Andrew Yang running for U.S. President) told Longhash. “So, let’s say you already have a Bitcoin Lightning node and want to pay a merchant, but you can’t find a route. Your alternatives are to open another Lightning Bitcoin channel or use submarine swaps to refill. This can take up to an hour and you’d have to pay a Bitcoin transaction fee. If the merchant accepts Lightning Litecoin, you’d only have to wait 15 minutes, plus you’d be saving money on transaction fees.”
The team at IOTA just released a progress report on its Ecosystem Development Fund, designed to boost projects building on the platform. So far, the Fund has awarded grants to UNIO, Green IOTA, and Sebastian Mueller.
“A lot has been happening behind the scenes at the Ecosystem Development Fund over the past months. We’ve been working on a number of changes to make the EDF more transparent and responsive to the IOTA community.
Most notably we’ve gotten back to everyone who’ve submitted a grant thus far to update them on the status of their application. For those whose status is pending, we will be going through the grants in the next few weeks classifying and responding to these applications.”
— IOTA (@iotatoken) May 3, 2019
Enjin, Binance and BNB
Enjin Wallet now supports Binance Chain and Binance Coin (BNB), allowing users to create, import, track, and use an infinite number of Binance Chain wallets.
“Organizing your finances is much easier when you can split your funds into different allotments.
Now, you can create a Binance Chain savings wallet, a trading wallet, a business wallet, and unlimited other wallets — all in one streamlined, easy-to-use, extremely secure app.”
Binance Chain support has arrived!
You can now monitor + manage infinite @Binance Chain addresses, add $BNB assets, and will soon be able to place orders to @Binance_DEX's on-chain order books — without leaving the secure #EnjinWallet interface.
— Enjin (@enjin) May 2, 2019