Raging Bitcoin Bears May Dominate Rest of 2019, Analysts Warn – Plus Ethereum, Ripple and XRP, EOS, Tron, Cardano
From a look at what may lie ahead for the price of Bitcoin to fight for blockchain app supremacy, here’s a look at some of the stories breaking in the world of crypto.
President Trump’s sudden emergence as a Bitcoin and crypto critic is having a major impact on the price of BTC, according to a senior market analyst at Oanda Corp.
Alfonso Esparza told Bloomberg that he believes Trump’s stance on the crypto market and Facebook’s Libra has brought Bitcoin bears back to life.
“[Bitcoin] continues to trade lower as comments from President Trump put downward pressure on the cryptocurrency. It could fall further to $8,000, giving back all the gains made in June.”
A crypto analyst known as Dave the Wave tells his 11,000 followers on Twitter that after hitting a bottom of around $3,150 early this year, Bitcoin is now facing a potential change in momentum that could last the rest of 2019.
“A lower low, and under 10K, could very well see a major trend change. Six months spiking… possibly the rest of the year correcting. But on the positive side, the bottom looks in. Support: Growth curve, mean curve, medium and long term averages.”
Ethereum, EOS, Tron, Steem
The battle for the most popular apps that utilize blockchain technology continues.
According to DappReview, $11.5 million worth of the Tron’s network’s native cryptocurrency TRX changed hands in the last 24 hours.
Meanwhile, $10.7 million in volume moved through Ethereum, $5.0 million moved through EOS and $7,200 flowed through Steem.
#DApp Daily Report:
— DappReview (@dapp_review) July 14, 2019
Ripple and XRP
Ripple’s Warren Paul Anderson says the company’s investment arm Xpring is not interested in financial returns when backing companies in the blockchain and crypto space.
According to Anderson, Xpring is solely focused on looking for organizations that can help the XRP and distributed ledger ecosystem at large.
Xpring is definitely not doing traditional VC investments focused on financial returns. Recall that we're building a developer platform, so if we see a smart team, working on related technology that could improve developer experience across XRP, ILP & Codius, then we do a deal.— Warren Paul Anderson (@warpaul) July 15, 2019
Cardano creator Charles Hoskinson just hosted a new surprise ask-me-anything on YouTube.
Hoskinson says the platform is making rapid progress and a new version of the Cardano wallet called Daedalus will likely be released late this month or in early August.