XRP’s price has been stagnant for a while. Multiple technical patterns estimate that an upswing is underway. A spike in sell orders could be catastrophic. XRP has been contained within a narrow trading range over the last 20 days. Now, several technical patterns are estimating that this cryptocurrency could be bound for a bullish impulse. XRP has been consolidating for the past 20 days. | Source: TradingViewXRP shows multiple bullish signs Since Nov. 22, XRP has been trading within two parallel lines based on its 12-hour chart. Every time it drops to the lower edge, it moves back to the upper one. But, when it surges to the upper line, it pulls back to the lower one. XRP is contained within a parallel channel. | Source: TradingViewThe rebounds from the lower boundary of the parallel

Institutional investors are pouring into bitcoin.
Trading volume across top U.S.-regulated BTC futures markets is skyrocketing.
Retail investors are losing interest in the pioneer cryptocurrency.
The massive downturn that the cryptocurrency market experienced over the last week sent retail investors into “extreme fear,” according to the Crypto Fear and Greed Index (CFGI). Even Mark Dow, a former U.S. Treasury and International Monetary Fund economist, boasted on Twitter that bitcoin was “dying” after the sell-off. But data shows otherwise.
As bitcoin plummeted below $8,000, U.S. regulated BTC futures markets saw their volumes skyrocket. The increasing demand for crypto derivatives products is a clear sign of the growing interest among institutional investors despite the high levels of

South Korea’s biggest cryptocurrency exchanges has revealed a sizable hack.
342,000 ETH (approximately $50 million in value) were stolen from the exchange.
All lost funds will be covered, according to the head of the firm.
Upbit, South Korea’s largest cryptocurrency exchange by market-share and trading, has been hacked. At the moment, all trading activities, deposits, and withdrawals are temporarily suspended.
Hot Wallet Hacked
On Nov. 27, Lee Seok-woo, the CEO of Dunamoo, the company that operates Upbit, confirmed in an official statement that 342,000 ETH was transferred from Upbit’s hot (online) wallet to an unknown wallet.
In the announcement, Lee affirmed:
At 1:06 PM on November 27, 2019, 342,000 ETH (approximately 58 billion won) were transferred from the Upbeat Ethereum Hot Wallet

The Crypto Fear and Greed Index hit its lowest value in months.
The recent decline in prices took the market into “extreme fear.”
The market tends to flourish in difficult circumstances.
The Crypto Fear and Greed Index (CFGI) recently plummeted to its lowest value in months, signaling “extreme” levels of “fear” in the industry. The move comes after bitcoin dropped below $7,000, which brought out some of the most prominent crypto critics to spread fear, uncertainty, and doubt (FUD) around the market.
Peter Schiff, the CEO and chief global strategist of Euro Pacific Capital, entertained the idea that a head-and-shoulders pattern was developing on bitcoin’s chart, which could trigger a sell-off to $2,000. Meanwhile, Mark Dow, a former US Treasury and International Monetary Fund

Peter Schiff believes bitcoin is breaking out of a bearish formation and is heading to $1,000.A renowned technical analyst thinks that such a bearish pattern could, instead, take BTC to $4,000, if validated.Several technical indicators add credibility to a further drop, but there is still a chance for a rebound.On Oct. 19, the veteran gold bug and longtime crypto critic Peter Schiff entertained the idea that a head-and-shoulders pattern was developing on bitcoin’s 1-day chart. He said that if this technical pattern was validated, BTC could drop to $2,000.Schiff affirmed:The Bitcoin chart looks horrible. Not only does the flag that followed the recent breakdown project a move to $6K, but we are close to completing the right shoulder of a head and shoulders top, with a $14K head, and neck

Black Friday seems to have arrived earlier in the cryptocurrency market. But, unlike the real Black Friday, nobody seems to be rushing in to buy cryptos at the current discount rate.According to the Crypto Fear and Greed Index (CFGI), the overall market sentiment turned into “extreme fear” as investors expect a further downturn. However, historical data reveals that every time the CFGI goes into “extreme fear,” a buying opportunity is presented.The following technical analysis will evaluate whether Ethereum, XRP, and Litecoin are bound for a deeper retracement or a bullish impulse.The market is at “extreme” levels of “fear.” Source: The Crypto Fear and Greed IndexEthereum (ETH)In the last few weeks, Ethereum fell over 30 percent. This cryptocurrency went from trading at a high of $199 on

Bitcoin shows signs of a pump-and-dump scheme.A renowned analyst says BTC is dying.Despite the bearish sentiment, countries around the world want to allow investors to trade the pioneer cryptocurrency.On Oct. 25, Chinese President Xi Jinping addressed the nation about the “important role [that blockchain technology would play] in the next round of technological innovation and industrial transformation.” He declared that his administration would focus on getting China to “take the leading position gain” in blockchain research and development.President Xi said:Major countries are stepping up their efforts to plan the development of blockchain technology. Greater effort should be made to strengthen basic research and boost innovation capacity to help China gain an edge in the theoretical,

Michael Novogratz will be launching two different bitcoin funds.Novogratz wants to bring “the wealth of America” into the crypto market.The new funds would offer cheaper services than what competitors are offering.Galaxy Digital Holding CEO Michael Novogratz is launching two bitcoin funds that target accredited and institutional investors who have been waiting on the sidelines for a cheap and secure service way to access the pioneer cryptocurrency.Bitcoin is hovering around $8,000. | Source: TradingViewBitcoin Funds on the Cheap for America’s BillionairesIn a recent interview with Bloomberg, billionaire Michael Novogratz revealed that he would be starting two different bitcoin funds — Galaxy Bitcoin Fund and Galaxy Institutional Bitcoin Fund — that aim to bring “the wealth of America” into

A rising number of companies in China are claiming to be related to blockchain technology. Multiple media outlets have issue warnings to put an end to the frenzy. The Chinese government vows for blockchain, not cryptos. Following Chinese President Xi Jinping’s decision to “accelerate the development of blockchain technology,” a massive number of companies in the nation claimed to have shifted their focus towards blockchain. The move was seen as a way to improve brand awareness, generate buzz, and subsequently drive their stock prices. Now, several media outlets have issued warnings to combat the madness. Speculating on Blockchain Technology Xinhua News Agency, the official state-run press agency in China, recently published a report warning investors about the resurgence of businesses

Privacy-centric Zclassic (ZCL) is skyrocketing after its founder Rhett Creighton decided to “put more ZCL in the hands of people.” Rhett Creighton offers 1,000 ZCL to his followers. | Source: TwitterIn the last 24 hours, ZCL jumped over 60% to hit a high of $0.45. The bullish momentum appears to be correlated with the increasing network activity this cryptocurrency has seen as more people join Creighton’s campaign. Zclassic is Trending Up Zclassic is a fork of Zcash (ZEC) that uses a zero-knowledge proving scheme. This technology provides the base for its decentralized and open-source protocol offering privacy and selective transparency of transactions. In order to generate awareness about this cryptocurrency, its creator, Rhett Creighton, came up with a simple marketing stunt that is

China-based cryptocurrencies surge as bitcoin consolidates. If volume picks up, BTC could break above $9,700. One of the most prominent analysts in the industry shares his views on the pioneer cryptocurrency for this week. Following Chinese President Xi Jinping’s decision to embrace blockchain technology, many China-based cryptocurrencies have seen a significant spike in their market value. VeChain, for instance, has moved up a whopping 185% while NEO has skyrocketed nearly 100% since then. Despite the high volatility seen across these altcoins, bitcoin has been lurking without much action. A renowned technical analyst in the crypto community believes that BTC is on the verge of a significant price movement. Bitcoin is consolidating while VeChain and NEO are skyrocketing. | Source:

Chainlink is up more than 100% since mid-September. The bullish sentiment behind it comes after a series of partnerships that show the true value of its technology. A renowned technical analyst says LINK could push for new all-time highs. Chainlink, a decentralized oracle system, is making significant strides to push the adoption of its technology. The firm recently announced a number of partnerships that show the intrinsic value behind its native cryptocurrency, LINK. Over the last few days, this cryptocurrency surged over 20% and now several technical indicators estimate a retracement before the continuation of the bullish trend. Chainlink is up more than 100% since mid-September. | Source: TradingViewA Bridge to Blockchain Technology OpenLaw is an open-source protocol for commercial

PayPal suspends services for Pornhub. Over a hundred thousand pornographic actors are now cut off. Cryptocurrencies could thrive as a censorship-resistant payment method. In a drastic move, PayPal suspended its services to the world’s largest free pornographic site, Pornhub. Although the reasoning behind it is unknown, this could be an opportunity to show the intrinsic value that cryptocurrencies have. Traditional Services Without Censorship Resistance PayPal’s decision to stop payouts to over a hundred thousand pornographic performers puts into perspective which is censorship resistance. With bitcoin, for instance, individuals can transfer value without fear of third party interference. But, with centralized online payment systems, such as PayPal, censorship is an omnipresent threat.

CoinMarketCap’s new metric shows low levels of liquidity in the crypto market. A renowned analyst explains that less than 1% of all cryptos are liquid. Prominent figures in the industry agree that 99% of all cryptos will not prevail. CoinMarketCap, the leading cryptocurrency data tracking services platform, recently rolled out a new metric, dubbed Liquidity. Its primary purpose is to provide the “real trading activity” of most of the cryptocurrencies and crypto exchanges in the industry. An early glimpse shows a lack of institutional investment, adding credibility to the belief that 99% of all cryptos are worthless. CoinMarketCap’s Liquidity According to the chief strategy officer at CoinMarketCap, Carylyne Chan, the methodology to rank cryptocurrencies and crypto exchanges by daily

CoinMarketCap launched a new tool to combat fake trading volumes. The firm aims to bring more clarity into the space, which has been tainted by manipulation. Different companies in the industry are making strides towards a market free of manipulation. The cryptocurrency market has been tainted by manipulation since its early beginnings. As a result, CoinMarketCap, the leading cryptocurrency data tracking services platform, has been making strides towards a market free of manipulation. The firm recently announced the introduction of a new tool that will provide the “real trading activity” of most of the cryptocurrency exchanges in the industry. CoinMarketCap’s Liquidity CoinMarketCap is launching a new metric dubbed Liquidity that aims to combat fake trading volumes in the cryptocurrency

NEO has surged 100% over the past few weeks. The bullish sentiment behind this cryptocurrency rally seems to be related to China’s decision to embrace blockchain technology. One trader says NEO may have a bright forecast. NEO, one of China’s most prominent blockchain projects, has been on a roll since Chinese President Xi Jinping announced that his country would “take the leading position in the emerging field of blockchain.” Since then, this cryptocurrency skyrocketed nearly 100%, and now it is signaling a further upward advance. The NEO price has enjoyed a bullish bounce over the past few weeks. | Source: TradingViewThe Catalyst: China Embracing Blockchain Technology On Oct. 25, the Chinese government vowed to put the nation at the forefront of blockchain technology. Several agencies

Bakkt launched its institutional custody services. The Bakkt Warehouse launched with a robust insurance policy and a range of clients. Bakkt’s daily trading volume is picking up. Bakkt, a bitcoin futures exchange backed by the Intercontinental Exchange (ICE), announced that it is launching custodial services for institutional enterprises. This is not the first organization to provide bitcoin custody, but the firm believes that it would set the stage for the mass adoption of the technology. The Bakkt Warehouse In a blog post, Bakkt announced that it received authorization from the New York Department of Financial Services (NYDFS) to offer bitcoin custody to all institutions. Now, the Bakkt Warehouse is open to all clients around the world who are looking to secure their bitcoins.

Craig Wright claims to have invented bitcoin, and he’s suing a podcaster who alleges otherwise. Wright’s lawsuit now faces a challenge from the creator of the fourth-largest cryptocurrency. Bitcoin’s most thrilling scandal continues to grow more and more exciting. As if the Craig Wright saga couldn’t grow any more mesmerizing, the most controversial person in the bitcoin industry now finds himself squaring off against the most controversial company in crypto. Tether, the issuer of $4.1 billion cryptocurrency USDT, announced that it would stand behind podcaster Peter McCormack in a lawsuit brought by Wright, who claims to be Satoshi Nakamoto. Tether Pledges to Help Defend McCormack Stuart Hoegner, Tether’s general counsel, said on Twitter that Wright had ample opportunities to prove he

Yang Zuoxing, CEO at MicroBT, is under investigation by the local police. The investigation is allegedly related to a dispute over Bitmain’s intellectual property rights. Yang nor MircroBT have released an official statement. A former Bitmain employee, Yang Zuoxing, is under investigation by the local police in China. The case appears to be related to a dispute involving the intellectual property rights of the mining giant corporation. Open Investigation According to a report by the Chinese news outlet BlockBeat, Yang Zuoxing, the CEO at MicroBT, has been taken into custody by local police to assist in an open investigation that involves tens of millions of dollars. BlockBeat stated that the arrest of Yang is directly related to the production of crypto mining hardware citing insider

Bitcoin is mentioned in the Late Show with Stephen Colbert. Colbert also talks about blockchain. The crypto community loved the sketch. Bitcoin is once again getting mainstream media exposure as it was mentioned in the “Late Show” by its host, Stephen Colbert. Mainstream Media Exposure During the latest episode of the Late Show Thursday night, Stephen Colbert made some jokes mentioning bitcoin and blockchain as he referred to a clip of President Donald Trump in Louisiana. Trump held a Nov. 7 rally in the state to support the Republican gubernatorial challenger, Eddie Rispone, who is trying to unseat incumbent Democratic Governor John Bel Edwards in the nation’s last governor’s race of the year. Trump asked the crowd: So, is there any place you would rather be than in a Trump rally on a

Bitcoin moved below $9,000 on Friday. A bullish pattern is developing in the macro-perspective. BTC could plummet to $8,400 or lower in the near term. In the last few hours, bitcoin moved below $9,000. Now, it seems like BTC could be bound for a further downward push. Bitcoin Technical Analysis In the macro-perspective, bitcoin is still bullish despite the recent downturn. MindTrader, a well-known technical analyst, told CCN that he is “100% bullish on the market.” This could be related to the bull flag that has been developing on BTC’s 1-day chart since Mar. 26. The upswing that took BTC to nearly $14,000 formed the flagpole. Meanwhile, the current consolidation phase it entered Sept. 26 is forming the flag. This technical pattern estimates a breakout in the same direction of the

Tether has fired back at the authors of a study who claimed that the 2017 bull market was triggered by Bitfinex. The Tether team claims that the authors do not know how the cryptocurrency market functions. Tether assures that it never conducted activities with the purpose of manipulating the cryptocurrency market. Tether issued an official response to a research paper that claimed that a single market whale on Bitfinex manipulated the price of bitcoin in 2017. A Lone Bitcoin Whale On Nov. 4, Bloomberg shared a study that claimed that the astronomical upswing that bitcoin experienced in 2017 was triggered by pure market manipulation. John Griffin, a professor at the University of Texas, and Amin Shams, an assistant professor at the Ohio State University, conducted the research. They

Bitmain is going through a power struggle between its main founding members. Jihan Wu told Bitmain’s staffers that Micree Zhan was being laid off. Zhan said he was ousted without consent and is prepared for a legal battle. Bitmain Co-Founder Micree Zhan was recently forced out of the firm without any consent or prior knowledge. Now, the world’s richest crypto billionaire is preparing to go to court, if necessary, to guarantee his return to the mining giant. Power Struggle A civil war has been taking place at Bitmain over the last few years. Two of its main founding members, Jihan Wu and Micree Zhan, have been locked up in a leadership dispute. The conflict caused Zhan to get ousted from the firm without any consent or prior knowledge. Last week, Wu reportedly sent an email with a subject

Coinbase starts offering staking rewards on Tezos. XTZ surges over 50 percent after the announcement. Tezos could be preparing for a significant price move based on many technical indicators. Tezos skyrocketed over 50 percent in the last 24 hours. The sudden increase in prices took place after Coinbase announced that it would be offering staking rewards on this cryptocurrency. Now, several technical indicators show that XTZ could be bound for a higher impulse. Staking Rewards Staking is the process of holding a certain amount of a given cryptocurrency in a wallet for an extended period to support the functionality of its network. It translates into locking cryptocurrencies to receive rewards. Generally, protocols that support the Proof of Stake (PoS) consensus mechanism use staking as a

Bitfinex postponed the sale of Kimcoin indefinitely. The regulatory framework in the industry is affecting initial exchange offerings. Kim Dotcom tried to avoid countries within the U.S. jurisdiction. Bitfinex, a Hong Kong-based cryptocurrency exchange, announced its decision to postpone the initial exchange offering (IEO) of Kimcoin, the native cryptocurrency of the content monetization platform K.im. Halting Kimcoin Token Sale On Nov 5, Bitfinex revealed in a blog post that the first IEO on the rebranded platform Bitfienx Token Sales, formerly known as Tokinex, would not take place. The decision was based on the “evolving” regulatory guidelines that surround this type of token sale. The announcement reads: “Since we announced the debut of Kimcoin on the Bitfinex Token Sale platform,

Hong Kong will regulate cryptocurrency exchanges. The Securities and Futures Commission developed a set of guidelines for exchanges to operate. Custody and cybersecurity are the top concerns among regulators. Hong Kong’s Securities and Futures Commission (SFC) published a regulatory framework that enables cryptocurrency exchanges to be regulated. With the new set of rules, the nation is making a significant step towards the adoption of blockchain technology. Licensing Cryptocurrency Exchanges During the Hong Kong Fintech Week, the world’s first cross-border financial technology event, SFC CEO Ashley Alder announced the creation of new guidelines for licensing cryptocurrency exchanges. The 61-page regulatory sandbox covers custody, know-your-customer rules and the storage of crypto

China is set to allow cryptocurrency mining. The nation hosts the four largest mining pools around the world. The Chinese government is making significant steps towards the adoption of blockchain technology. Cryptocurrency mining will be kept alive in China. The news come after President Xi Jinping announced that his country will “take the leading position in the emerging field of blockchain.” China Will Allow Crypto Mining The National Development and Reform Commission (NDRC), one of the highest-ranking economic planning agencies under China’s State Council, published today the final version of the “Industrial Structure Adjustment Guidance Catalog.” This is a list that contains those industries that the regulatory body wants to encourage, regulate, or eliminate from the nation’s

Binance’s CEO, Changpeng Zhao (CZ) believes bitcoin will hit $16,000 very “soon-ish.”
A 4chan anonymous user who accurately predicted bitcoin’s trajectory earlier this year turned out to be wrong in October.
CZ claims 1.4 billion people are behind bitcoin.
Changpeng Zhao (CZ), the CEO of Binance, recently stated that 1.4 billion people are working on getting bitcoin to $16,000. And, this upswing is currently in the works.
Putting a Price on Bitcoin
The CEO of the largest cryptocurrency exchange in the world, CZ, believes that a price of $16,000 per bitcoin will happen “soon-ish.” Zhao maintains that there are currently 1.4 billion people working towards getting this cryptocurrency to reach higher highs.
He added:
“Price predictions are easy. It’s just hard to be right about the

Huobi Global will disable the accounts of U.S.-based customers.
HBUS welcomes Huobi Global’s users.
The move could impact the price of Huobi Token (HT).
Huobi Global announced Monday it will freeze the accounts of its U.S. customers in order to comply with domestic regulations. The move could have severe implications for Huobi Token (HT), the company’s native cryptocurrency.
Complying with Laws and Regulations
In a blog post, the world’s third-largest cryptocurrency exchange by trading volume, Huobi Global, announced that it had been steadily disabling the accounts of its U.S. customers. Now, the firm plans to cut off all the remaining U.S. accounts on Nov. 13. The decision was made to comply with U.S. laws and regulations based on the company’s user agreement.
“In line with the

Augur (REP) has spiked over 35% in the last 30 hours.
The Forecast Foundation is moving towards accelerating the development of the platform.
REP could soon retrace before it continues its uptrend.
Augur is on a roll as its price surged over 35% against the dollar in the last 30 hours. The recent announcements regarding new upgrades and products could be directly related to the sudden spike.
On the Works
During Devcon 5 in Osaka, Japan, Augur founder Joey Krug revealed that Augur v2 is set to launch in Q1 2020. The original plan was to release several upgrades one by one. After an in-depth discussion, the team agreed to release them all at once.
Krug said:
“While Augur may be slow, expensive, and clunky today—that won’t be the case much longer.”
Augur v2 will integrate 0x to