Crypto Analyst Who Called Bitcoin (BTC) Crash Calls Out Potentially Perilous Parallel – Plus Ethereum, Ripple and XRP, Stellar, Cardano
From new signs of a potential Bitcoin retracement to a big increase in transactions on the Ethereum network, here’s a look at some of the stories breaking in the world of crypto.
Analyst Peter Brandt is sending out a word of caution on Bitcoin’s price action. According to the man who called Bitcoin’s big crash in January of 2018, BTC could be facing a rough patch ahead.
According to Brandt, a comparison of Bitcoin’s current price action to the Nasdaq’s movements before the dot com burst shows a number of similarities. Brandt says if BTC climbs above $12,444 in the short term, then the comparison no longer applies.
The analogue concept is a foundational premise of chart analysis — that forms tend to repeat, even in different time frames. Nasdaq 100 in 1999-2000 vs. BTC currently. Advance above 12444 violates possible analogue $BTC Forewarned = fore-ready pic.twitter.com/PzYr0MgG1v
— Peter Brandt (@PeterLBrandt) June 30, 2019
Meanwhile, crypto analyst and trader Josh Rager says Bitcoin has had a great month, but recent price action indicates a potential dip down to $9,500.
“Monthly close is looking good, strong month of June but BTC still has the ability to retrace to $9,500 in coming weeks.”
$BTC Monthly close looks good
Weekly close looks ugly, you'll likely see this shooting star type of doji all over CT
Which typically is a signal for reversal & we could see a couple of down weeks for Bitcoin
But be happy as that would mean prime buying opportunities ahead pic.twitter.com/szZLVShLKD
— Josh Rager 📈 (@Josh_Rager) July 1, 2019
The number of transactions being processed on the Ethereum network just crossed one million, according to Etherscan.
The metric has been on the rise since February but is still shy of the all-time high of 1.3 million.
Ripple and XRP
Ripple now has 66 job openings on the table, spread out in key remittance locations around the world. The latest opening is for a staff Rust engineer for the company’s fundraising arm Xpring.
You can check out all of the open positions here.
— Jim Chauncey-Kelly (@JChaunceyKelly) June 28, 2019
The team at the Stellar-based crypto wallet company StellarGuard has released an overview of the ins and outs of storing crypto inside a wallet.
The post covers public keys, private keys, signatures and how wallets interact with the Stellar network.
Crypto Crow just dropped a new interview with Cardano creator Charles Hoskinson.
The interview covers the future of the Cardano platform, the switch to proof-of-stake, crypto buybacks and more.