Crypto Traders Analyze ‘Powerfully Bullish’ Bitcoin (BTC) Burst – Plus Ripple and XRP, Litecoin, Ethereum, Cardano, Tron, IOTA
From new analysis on Bitcoin’s sudden surge above $7K to the latest on Ethereum 2.0, here’s a look at some of the stories breaking in the world of crypto.
Bitcoin
A pair of crypto analysts say Bitcoin’s big surge in the last month and a half shows the strength of BTC’s fundamentals. Economist Alex Krüger says the fact that Bitcoin’s rise began without a rush of new money from retail traders is revealing.
This $BTC rally is happening without the general public yet involved en masse. This is very bullish. pic.twitter.com/H0wMEn56ND
— Alex Krüger (@krugermacro) May 11, 2019
A fellow crypto analyst known as Galaxy is on the same page, calling BTC’s recovery “mental”.
The large-scale price recovery is mental.
235 days of bear market already erased in the last 40 days of bull.
And this time without massive media coverage, ico craze or heavy dumb money flowing in.
Just pure fundamentals. #bitcoin pic.twitter.com/shv4fRPHIS
— Galaxy (@galaxyBTC) May 12, 2019
Crypto trader Scott Melker says Bitcoin just displayed one of its most “powerfully bullish” moves in the coin’s history.
The $6400 area was the most traded for bitcoin in 2018. There was heavy daily, weekly, monthly supply there – and price just nuked it in one shot. This is one of the most powerfully bullish moves that bitcoin has ever made. pic.twitter.com/ldTtoOZkYE
— The Wolf Of All Streets (@scottmelker) May 11, 2019
Meanwhile, analyst Willy Woo is outlining the mechanics of the short squeeze to explain the dramatic jumps in the price of BTC.
4) A tidal wave of buys cascade through the orderbooks, a chain reaction, the price goes vertical.
5) Whale payday. The whales that bought up the market sheparding the price up now dump their positions at profit.
6) Blow-off. The price comes down to its organic levels.
— Willy Woo (@woonomic) May 11, 2019
Ethereum
The latest ConsenSys-sponsored Week in Ethereum blog post is out.
This week’s edition covers the latest on Ethereum 2.0 and looks at a number of updates on Ethereum-based platforms including Maker and Brave.
Ripple and XRP
Ripple has released an extended clip of its Ripple Regionals event in Dubai, covering Ripple’s work in Dubai and a look at the company’s upcoming Swell conference in Singapore.
Litecoin
The latest edition of The Lite Podcast is out. The new episode features an interview with Mark E. Jeftovic from EasyDNS, and looks at negative inflation rates, secular bear markets and cryptocurrency from an outsider’s perspective.
Tron
Bitcoin Magazine NL has released a new interview with Tron founder Justin Sun in Amsterdam.
Sun talks about his support for Binance after the recent hack, Craig Wright, BitTorrent Token (BTT), and decentralized apps on the Tron network.
Cardano
IOHK, the company behind Cardano, has signed a memorandum of understanding (MoU) with two blockchain associations in Mongolia.
Details on the agreements, which are designed go boost blockchain adoption and education in the country, are forthcoming.
We are excited to share that today #IOHK signed an MoU with Mongolian Blockchain Technology & Cryptocurrency Association & Mongolian Fintech Association. This MoU is to help implement & foster #blockchain project development & #education in Mongolia. More information coming soon! pic.twitter.com/7JDJy5supi
— Input Output (@InputOutputHK) May 11, 2019
IOTA
The winners of IOTA’s Smart City contest have been revealed.
The competition is designed to encourage developers to create IOTA-based solutions that can power smart mobility, smart energy, smart buildings, and smart districts.
Announcing the winners of the IOTA Smart City Contest via @Hacksterio! IOTA powers the future of Smart Cites!https://t.co/lsShRNW4iR#IOTA @birdz_iot @novaveolia @Groupe_Renault @ENGIELabCRIGEN @SopraSteria @tech_mahindra #FutureStateCoFoundery #CityofAustin #NorskeHelsehus
— IOTA (@iotatoken) May 10, 2019
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