From an updated analysis on Bitcoin’s long-term potential to Binance’s push to make trading more accessible in Europe, here’s a look at some of the stories breaking in the world of crypto.
Bitcoin (BTC)
A crypto analyst who called Bitcoin’s 2019 bottom is revealing his long-term target for BTC.
The analyst, known in the industry as Dave the Wave, has updated his long-term chart that identified Bitcoin’s 2019 low in the $6,000 range.
The chart, which plots Bitcoin’s path using a logarithmic growth curve, now shows BTC surpassing $100,000 by the end of 2022.
In the short term, a crypto investor and technical strategist who goes by the pseudonym Horn Hairs tells his crew of 39,000 followers that BTC is looking bearish after being rejected at $7,635.
After Bitcoin’s failure to break through resistance, he says a bearish divergence and the coming expiration of CME futures suggests another significant move to the downside.
“BTC short. Bear div coupled with a hard rejection after a sweep…
Think we see some downside from here. Also of note, 70% of days before CME expiration dates have been negative, shout out @JofDom.”
Ethereum (ETH), XRP, and Binance Coin (BNB)
The leading crypto exchange Binance is pushing to make it easier for people to buy crypto.
A day after adding new support for the Turkish lira, Binance says it’s integrating a new way for users to buy cryptocurrency using their Visa debit and credit cards.
“Binance will now allow users to bind their Visa cards to their accounts and purchase crypto using this card, directly on Binance.com.
To access this service, users can visit the ‘Buy Crypto’ page, select an amount of EUR or GBP, click next, and then click ‘Add Card’ to bind their Visa card.
In addition to Bitcoin, Binance has confirmed the new feature can be used to purchase Ethereum (ETH), XRP and Binance Coin (BNB).
For now, Binance says the new feature only supports Visa cards issued in the European Economic Area.
Cardano (ADA)
IOHK, the company behind Cardano, says it has updated its new incentivized testnet one last time before the new year.
The testnet allows people to earn rewards for holding Cardano’s native cryptocurrency ADA when they join the network and create nodes to process and verify transactions.
“We’ve just pushed out a new version of Daedalus (v2.0.1-ITN1) to squash a few common bugs including those affecting balance and stake pool display for some users. It is available to download now from the Incentivized Testnet site.”
Cardano creator Charles Hoskinson says that so far, the testnet has been an “overwhelming” success, with more than 340 independent stakepools registered, staking billions of ADA in the process.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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