From the sudden drop in the Bitcoin rate to the rebranding of a new Ripple XRP-based app, here are the most important news from the last 24 hours of cryptocurrency.
A technical indicator for detecting market reversals has been showing the first sell-signal for more than a month.
According to the GTI VERA Convergence Divergence indicator, the Bitcoin price is likely to fall further in the short term, reports Bloomberg. The signal uses the typical Moving Average Convergence Divergence (MACD) and tries to identify increased volatility.
Doji on a weekly chart begins correction. $ BTC pic.twitter.com/9L9YCZbrP8
– Peter Brandt (@PeterLBrandt) June 4, 2019
In the meantime, veteran trader Peter Brandt sent a viral tweet identifying a doji top on the weekly chart of the Bitcoin course. This could signal the beginning of a significant market correction. The doji is a candlestick pattern that is used to identify potential market reversals based on previous price movements.
Later, however, Brandt clarified that this doji pattern was not confirmed for all crypto exchanges.
Most major exchanges did not have a doji top, except for bitstamp. It remains to be seen whether the market will continue to correct in the short term. In all likelihood, however, we will see more volatility.
Another analyst said he is taking his crypto chips off the table. He does this because the Bitcoin rate has suddenly dropped below $ 8,000.
BTC look scary I'm back into tether just in case👀
– The Crypto Dog📈 (@TheCryptoDog) June 4, 2019
The so-called “Crypto Dog” told his 139,000 followers on Twitter that he had sold his BTC for tether. He now believes that Bitcoin's price is likely to reach $ 7,000 before reaching $ 9,000 thereafter.
A new demo of an Ethereum-based platform from consulting giant Ernst & Young is now online. Project “Nightfall” is a transaction log designed to move tokens in the blockchain with complete privacy.
Ripple continues to move large amounts of XRP. The company has just sent $ 50 million (about $ 20 million) to one of its over-the-counter (OTC) wallets. These will sell the digital currency to crypto exchanges and institutional participants.
🚨 🚨 50,000,000 #XRP (20,558,748 USD) transferred from Ripple to Ripple OTC Distribution wallet
– Whale Alert (@whale_alert) June 4, 2019
There's also news from a ripple-assisted startup. The founder of XRPL Labs says the newly announced banking app for people without a bank account is undergoing a name change. To avoid copyright problems, the platform is now called xumm instead of xign.
Wind recently reviewed how users can use the app to manage and pay for multi-currency goods and services, including XRP.
Litecoin's hash rate reached a new all-time high on Sunday. Rumors are that Bitmain will soon be releasing new mining hardware. The hash rate is a sign that the network is thriving as new miners join the network.
Jed McCaleb and Denelle Dixon of the Stellar Development Foundation are hosting a new Q & A session on Reddit.
The event will take place on Wednesday morning at 10:00 am PST.
In China, the company behind Cardano, IOHK, has released a video from a recent conference. It highlights the desire to bring Cardano to the Chinese market. It also encourages users to develop on the Smart Contract platform.
Changpeng Zhao (CZ), CEO of Bitcoin Stock Exchange Binance, said he unfortunately could not go to charity dinner with Warren Buffett. According to CZ, he was invited by Justin Sun, the CEO of Tron. Sun was the highest bidder for lunch with Buffett and now has seven colleagues to bring. CZ passed the invitation on to crypto supporter Anthony Pompliano of Morgan Creek Digital.
. @ justinsuntron kindly invited me to go, but I can not make it. Too far. I guess that's like turning down $ 1,000,000, assuming 5 guys going, lol … But very much appreciated.
I would totally recommend inviting @APompliano.
Couple other thoughts: https://t.co/igVo03Ifzu
Author: Peter Joost – Source Post: http://festyy.com/w1TrpA
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