Crypto Analyst Rips 'Hysterical' Calls for New Bitcoin Bottom – Plus Ethereum, Ripple and XRP, Bitcoin Cash, NEO, OmiseGo

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From the debate on how low Bitcoin can go to a new bank on RippleNet, here’s a look at some of the stories breaking in the world of crypto.

Bitcoin

A crypto analyst says “hysterical” calls claiming Bitcoin is on its way toward reaching new lows this cycle are way off base.

FlibFlib told his 20,000 followers on Twitter that BTC won’t touch its low of about $3,150 largely because he believes miners will hold the BTC they earn for powering the network as the next halving approaches.

The halving, which is set to happen in May of 2020, will lower the amount of Bitcoin miners receive by half. This new limit on the amount of BTC being created is a reminder that Bitcoin’s supply is limited, and the last time around, the price of BTC rose for about a year before the halving occurred.

THREAD

1/ I have seen a lot of hysterical calls for bitcoin to find new lows and want to revisit a logical economics based approach which helped me call the 2018 bottom to near perfection and why I do not believe bitcoin will find new lows. https://t.co/HZ6L38dwKz
— fil₿fil₿ (@filbfilb) July 17, 2019

6/ Mid term Action most likely from miners:
- Sell production / Hedge down while existing MC is still low
- Limit selling pre halving to envoke new halving bubble
- Limit sale of production
- Maximise revenue per unit
- Sell new bubble
— fil₿fil₿ (@filbfilb) July 17, 2019

Ethereum

A new Ethereum-based game just raised $3.75 million in seed money from Coinbase Ventures, Initialized Capital, Polychain Capital and other blockchain investment firms.

The game is called SkyWeaver and is designed to take on heavyweights like Magic: The Gathering and Hearthstone.

Finally, it's here! Our Private Beta starts TODAY! Our game has a lot of heart behind it, and we can't wait for you to jump in and play!

👉 Walk this path with us, and join our beta: https://t.co/oORoz2ZOhX 🌟

See you in Sky! 💙 #skyweaver #skyweavergame pic.twitter.com/PA2doaPBoH

— SkyWeaver (@SkyWeaverGame) June 12, 2019

Ripple and XRP

Boubyan Bank, which is based in Kuwait, says it joined RippleNet. The bank will use Ripple’s suite of payment solutions to power remittances.

According to a press release on the bank’s website, the deal is pending approval of the Central Bank of Kuwait. So far, the bank has not specified whether it plans to use Ripple’s XRP-based cross-border payment product xRapid.

NEO

NEO’s investment arm is backing the blockchain-based hotel booking platform Travala.

“Aimed at propelling real-world use-cases, the NEO EcoFund investment will assist in the expansion of Travala.com with funds earmarked towards global growth, marketing, and talent acquisition, with an aim to double the developer team within the next six months.”

Travala allows users to pay for hotels in 210 countries around the world in 16 different cryptocurrencies.

Bitcoin Cash and OmiseGo

Liquid, the cryptocurrency exchange platform operated by Japanese startup Quoine, has listed OmiseGo, paired with Bitcoin and Ethereum. The exchange has also paired Bitcoin Cash with the stablecoin USDC.

$OMG is now live for trading on Liquid.@omise_go is a blockchain based financial services and payments project that strives to make financial services available to all.

Learn more 👇.https://t.co/LGVdXabgpU

— Liquid (@Liquid_Global) July 10, 2019