From the path ahead for the crypto market to new support for Litecoin and Stellar, here’s a look at some of the stories breaking in the world of crypto.
Bitcoin vs. Altcoins
A pair of crypto analysts are warning traders about if and when the next altcoin season will come.
Peter Brand, a trader who made a name for himself by calling the start of Bitcoin’s 2018 bear market, says he believes many altcoins will never recover no matter how high BTC goes. He equates the current crypto market to the aftermath of the dot com bubble in the early 2000s when many companies in the stock market never bounced back.
Many altcoins benefited from the last bull run in $BTC
Cryptomaniancs expect alts to do so again – they may be very disappointed
2000 .com bubble is analog
Following 2001-02 tech collapse, dotcoms with real value exploded
The "alt" .coms went bankrupt
— Peter Brandt (@PeterLBrandt) June 27, 2019
Meanwhile, fellow trader Josh Rager says alt season is coming, but is now on hold after Bitcoin’s big drop from nearly $14,000. At this point, Rager says he doubts BTC will dip below $8,400.
“Most talk about ‘buy the dip’ but then panic when price moves down. This is the big dip we’ve all been waiting for, don’t be scared, formulate a plan. Maybe we’ll see the CME gap get filled at $10k, I don’t think it drops to the $8400 gap. Alt season on hold for now”
If you bought alts too soon, you're down a good % today
But stay encouraged as there could be some heavy consolidation ahead
Will look at the higher time frames in the coming days to try to make a plan
Dips are certainly still for buying long term holds
— Josh Rager 📈 (@Josh_Rager) June 27, 2019
Ethereum developer Prysmatic Labs just released a new update on the scaling solution known as Ethereum 2.0.
The upgrade is designed to dramatically increase the network’s efficiency and the number of transactions it can handle per second.
— prestonvanloon.eth (@preston_vanloon) June 27, 2019
Ripple and XRP
Ripple has released an extended cut of its interview with Pegah Soltani, the company’s senior market intelligence manager.
Soltani talks about the market opportunity RippleNet offers its clients and the types of companies that are poised to reap the most benefits.
The Singapore-based crypto exchange PIEXGO says it’s listing Litecoin. The exchange has not announced which coins LTC will be paired with.
🚀PIEXGO will list @litecoin (LTC) on 28 June 2019
😃As a strong supporter of the Litecoin community, PIEXGO will donate some part of the Litecoin trading fee during the first two weeks from the listing date to @LTCFoundation
— PIEXGO (@piexgocom) June 27, 2019
Meanwhile, Stellar Lumens (XLM) is now supported on Coinhako, which is available in Singapore, Vietnam and Indonesia.
The coin is paired with the Singapore dollar, Vietnamese dong and Indonesian rupiah.
Tron founder Justin Sun is gearing up for his big meeting with legendary investor Warren Buffett. Sun placed the winning bid at the 20th annual eBay for Charity Auction for a Power Lunch with Warren Buffett, in support of the GLIDE Foundation, a non-profit organization that provides services for the poor and homeless in San Francisco.
For the first time, the lunch will be held in San Francisco, and Sun says it will happen at Quince, a popular Michelin star restaurant.
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I'm pleased to announce that this years eBay #PowerOfOneLunch with @WarrenBuffett will be held July 25 at @quincesf, a three-Michelin starred restaurant in San Francisco's historic Jackson Square. #TRON #TRX https://t.co/XZCt3lY8oI
— Justin Sun (@justinsuntron) June 27, 2019