Ripple’s Plan for China, Hiring A Country Manager

XRP price technically bullish Ripple to hire a Country Manager, plans to open a physical office in Shanghai Transactional volumes are low, may rise if prices recover from 30 cents Ripple has grand plans. After funding the Fintech Research at Tsinghua University (THUIFR), the company plans to open a physical office in Shanghai. To that end, they are hiring a Country Manager. The trajectory taken is indicative and a hint of future involvement in China. This is in line with our XRP/USD trade trajectory. XRP Price Analysis Fundamentals With each…

BitTorrent Speed Set For Q2 2019, TRX Outperforms

Tron price vibrant, adds 4.7 percent in the last day BitTorrent Speed to reward and incentivize users Participation on the rise, bulls in control A combination of favorable candlestick formation and fundamentals mean TRX is a top performer in the last day. The coin is up 4.7 percent and looks likely to expand towards 4 cents in coming days validating our previous TRX/USD trade plans. Tron Price Analysis Fundamentals Behind Tron is BitTorrent. Billed as the world’s largest peer to peer network, it is more than software. BitTorrent is a…

Token Issuers Must Stop Paying for Market Making

Eric Gravengaard is the co-founder of several digital currency businesses including Athena Bitcoin and Red Leaf Advisors. ——— I have spent much of my career in financial services working for Chicago’s proprietary trading firms which act as market makers on the derivatives exchanges. These firms are responsible for providing prices to the derivatives exchanges (CBOT, CME, CBOE) for options contracts, futures, etc. and are an important part of an orderly marketplace. In this post, I will discuss both the function and role of a market maker, the rules that govern…

The Art of Cutting Losers and Letting Winners Run in Crypto Trading

One of the most important rules for trading financial markets is cutting losses quickly and letting winners run. Generally, you want to let your trades that are in the green run as long as the market is willing to provide.  Conversely, you should cut your losses and exit the position to preserve your capital when you immediately identify that a trade is going/staying south. In other words, the trade is not going to come through and you’d be better off cutting your losses and reducing your risk exposure.  The idea is…

Binance’s Crypto Winter Strategy: Build and Beef Up Partnerships

Malta-based cryptocurrency exchange Binance has an ambitious mandate for its 400 employees in 2019: leverage industry partnerships to diversify the brand beyond its primary trading platform. Trust Wallet, which Binance acquired last summer, recently joined the Foundation for Interwallet Operability (FIO), CoinDesk has learned. The coalition includes the exchange ShapeShift, and wallet startups BRD and MyCrypto, among many others. Guided by the foundation’s instigator, a Denver-based startup called Dapix, the coalition plans to build a protocol to standardize crypto wallet addresses across currencies and platforms. Boosters say this protocol could…

Kraken Acquires Futures Startup In Deal Worth At Least $100 Million

Cryptocurrency exchange services provider Kraken has officially acquired regulated futures trading startup Crypto Facilities in an undisclosed deal valued at least $100 million. Announced Monday, the “nine-figure” acquisition, the largest seen in the industry so far in 2019, will enable Kraken customers to trade spot, as well as open positions offering exposure to the future price movements of cryptocurrencies, all through a unified trading interface. As such, Kraken CEO Jesse Powell framed the merger as one that would “massively accelerate” his company’s roadmap, enabling the San Francisco-based startup to sidestep…

Venezuela: New Crypto Legal Framework Comes Into Force

Venezuela’s new crypto bill, which establishes а legal framework for the industry, officially came into force on Jan. 31. The decree was published in the government’s official media outlet, Gaceta Oficial. The set of rules for miners, crypto entrepreneurs and regular traders was initially approved by Constituent National Assembly — an alternative to the country’s Parliament, created in 2017 — in November, 2018. The document titled “Constituent Decree on the Integral System of Crypto Assets” contains 63 articles. It gives short definitions of key crypto terms, such as crypto assets,…

Bitcoin Decline in February Will Mark Its Longest Bear Market

Bitcoin has come closer to establishing its longest-running bear market, alarmed Alex Kruger. The famous cryptocurrency trading analyst said Monday that it was the first time bitcoin had entered a long period of selling sentiment in its 10-year history. In December 2017, the value of bitcoin per piece was close to $20,000. As of January 31, 2018, it was close to $3,450. That marks a circa 82% drop in 13-months. Bitcoin has never before traded more than six months in the same direction. A down February would represent seven straight…

Amazon ‘Will Have to’ Create Its Own Crypto in Future, Binance CEO Says

One of the cryptocurrency industry’s best-known figures confirmed he still believes online retail giant Amazon cannot avoid issuing its own altcoin, in a tweet Feb. 2. Discussing the internet business sector more broadly, Changpeng Zhao — CEO of top crypto exchange Binance — said it was not so much a question of if, as of when Amazon will issue its own coin. The retail giant has made efforts to adopt forms of blockchain technology in the past, but its relationship with cryptocurrency remains tied to rumors. Such rumors periodically appear…

Bitcoin Price Charts Offer Glimmer of Hope to Struggling Bulls

View Bitcoin has charted a falling wedge pattern on the daily chart. A break above $3,450 would confirm a wedge breakout and expose key resistance lined up at $3,658 (the high of the gravestone doji candle created on Jan. 26). A violation there would expose the psychological resistance of $4,000. The prospects of a falling wedge breakout would weaken if the cryptocurrency suffers a channel breakdown on the 4-hour chart. The slow drip bitcoin (BTC) price sell-off seen over the last six weeks has produced a bullish pattern on the…