Bitcoin Analyst Pinpoints ‘Gigantic Buying Area’ for BTC – Plus Ripple and XRP, Ethereum, Litecoin, Stellar, Cardano
From the path ahead for Bitcoin to a new platform for Ripple, here’s a look at some of the stories breaking in the world of crypto.
Bitcoin
A leading crypto analyst and economist is outlining Bitcoin’s next levels of support.
According to Alex Krüger, BTC is still in the danger zone, with a crucial line of support at $6,800. If Bitcoin dips below that level, Krüger says Bitcoin will have essentially retraced down to the technical start of 2019’s bull run, and will be in a “gigantic buying area”.
I see the 6800-6200 area as a gigantic buying area. I do not know if price will drop there. I know what I'll do if price drops there.
— Alex Krüger (@krugermacro) June 5, 2019
Meanwhile, a crypto analyst known as Galaxy told his 52,000 followers on Twitter that traders at large are now overly bearish on Bitcoin.
Galaxy says Bitcoin’s recent pullback is a temporary and necessary retracement, given BTC’s big move from around $3,700 at the start of the year to a high of just over $9,000.
Surprised on how bearish the sentiment is on this correction of a strong uptrend
People are actually waiting to short the bounce
Extremely risky play and the price could turn to the upside any moment, strong and fast, as it did before
This is a retracement not a reversal$BTC
— Galaxy (@galaxyBTC) June 5, 2019
Ethereum
The latest episode of the Into the Ether podcast is out.
Loi Luu, CEO of Ethereum-based Kyber Network, joins the show to talk about the team’s decentralized platform, which is designed to power instant conversions of crypto assets with high liquidity.
Ripple and XRP
The Ripple-backed remittance platform SendFriend says it’s launching support for Ripple’s XRP-based cross-border payment solution xRapid this month.
SendFriend launched this year in the Philippines to give expatriates a cost-effective way to send money back home.
Thanks for checking us out! We will be live later this month!
— SendFriend (@sendfriendinc) June 5, 2019
Litecoin
Crypto-friendly presidential candidate Andrew Yang just met with Litecoin founder Charlie Lee. Yang is accepting Bitcoin and other cryptocurrencies for his campaign.
Congrats @SatoshiLite on being such a pioneer – let’s build the future. 👍 pic.twitter.com/WEQXiizdYs
— Andrew Yang (@AndrewYang) June 6, 2019
Stellar
Stellar founder Jed McCaleb and Stellar Development Foundation executive director Denelle Dixon just hosted an AMA on Reddit.
The pair answered questions about the platform’s roadmap, current marketing strategy, mainstream adoption, IBM’s Stellar-based platform World Wire, and more. You can check out the full AMA here.
Cardano
Cardano has redesigned its roadmap to make its vision for the platform’s future more clear.
The roadmap covers this year’s expected launch of smart contracts, ongoing efforts to scale and governance features, which are set to launch by 2020.
Today, we're very pleased to share our completely redesigned roadmap, charting our progress towards the Cardano 2020 vision. Here's where we'll keep the community updated over the months ahead https://t.co/t1kjKY09lk #Cardano #CardanoCommunity #Blockchain
— Input Output (@InputOutputHK) June 5, 2019
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