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Crypto Analyst Warns 2019 Bitcoin Rally Set to ‘Blow Off’ – Plus Ethereum, Ripple and XRP, Litecoin, Stellar, Tron | The Daily Hodl

From a warning about Bitcoin’s 2019 rally to new support for Stellar Lumens, here’s a look at some of the stories breaking in the world of crypto.

Bitcoin

A prominent crypto analyst warns the 2019 Bitcoin rally is an “exchange driven pump” that’s due for a significant pullback. According to Willy Woo, Bitcoin’s Network Value to Transactions (NVT) ratio is now way out of whack.

“Presently the market price of BTC has outstripped organic investor flow unseen since the bull market mania phases of 2013 and 2017. Never before have we seen such a divergence so early in the bull market.”

The NVT ratio measures the utility value of Bitcoin according to the number of transactions on the network relative to the price. Because on-chain investor volumes are in the normal range, Woo says the only explanation is “a quant fund driven short squeeze devoid of any true investor volume.”

Whales can short squeeze a majority-short market by buying it up until the shorts are liquidated, forcing a torrent of buys that inflate the price, Woo explains.

“If you have sufficient capital. You can keep buying to liquidate the bears. It’s extremely profitable. You only stop when it’s no longer profitable. At the $8k-9k mark the market switched from short to majority long. This put a cap on the profitability of short squeezing.

“I’m awaiting this exchange driven pump to blow off, a proper retrace, and only then do I think real investor flows will come in and drive the true organic bull market.”

Ethereum

Ernst & Young’s global blockchain leader, Paul Brody, says blockchain is poised to trigger a fundamental transformation of how enterprises do business.

The accounting and consulting giant EY is building on Ethereum, and Brody says use cases for audits and supply chain management are some early examples of prime use cases for the technology.

“What I hope you’ll take away from this today is that blockchain is maturing. We have real products, real customers, real use cases, real value creation, stuff that’s in operations, and we also have a road map for where things can and should go in the future and how this can have an ever-bigger impact…

Blockchains we think are going to be the future way in which companies model and manage their business processes and, in particular, we can basically model any process between two enterprises or two agencies or two governments as a combination of tokens to represent assets and items of value and contract.”  

Ripple and XRP

A presentation from Ripple’s chief technology officer David Schwartz is now online. At the We Are Developers in Berlin, Schwartz talks about the future of blockchain beyond the hype.

Litecoin

The Litecoin Foundation’s unique methods for raising funds to support the LTC ecosystem continue.

The Foundation has started to ship custom Litecoin cufflinks and tie bars, with a signed certificate of authenticity from LTC creator Charlie Lee.

Stellar

Crypto.com has added Stellar Lumens (XLM) to its Wallet & Card app.

Users of the app can now purchase XLM at true cost with no fees, with both credit cards and bank transfers supported. People can also use XLM with Crypto.com’s MCO Visa Card, making it easier to convert Stellar’s token into fiat for purchases from everyday merchants.

Tron

Tron’s latest report on the network’s decentralized app ecosystem is out.

According to the report, four new gaming DApps launched on the network this week, along with a decentralized exchange called SunDex.

Source: Crypto Analyst Warns 2019 Bitcoin Rally Set to ‘Blow Off’ – Plus Ethereum, Ripple and XRP, Litecoin, Stellar, Tron | The Daily Hodl

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How Cryptocurrency Is Disrupting The Global Economy

Blockchain technology which is the core technology behind cryptocurrency is undoubtedly described as a major disruptor of the global business process. However, it does seem like a lot more attention is being paid to cryptocurrencies…. https://www.pivot.one/share/post/5c7b6fcf595ce722c03e7d2d?uid=5bd49f297d5fe7538e6111b6&invite_code=JTOJYV

Is It Worth Working in the Crypto Industry? Many have chosen to work in the crypto industry.

Since the beginning of the fall, two Nobel Prize winners have been working at Cryptic Labs, the economist Christopher Pissarides and Harvard University professor Eric Maskin….. https://www.pivot.one/share/post/5c790a64016de75c363c42fe?uid=5bd49f297d5fe7538e6111b6&invite_code=JTOJYV

Argentina and Paraguay Settle Export Deal in Bitcoin in Landmark Event

Paraguay has reportedly recently paid for an Argentinian shipment worth little over $7,000 in bitcoin, the flagship cryptocurrency, in an apparent first for both countries. The deal was made as part of new program incentivizing small shipments. According to Cointelegraph en Español, Argentina sold Paraguay pesticides and fumigation products, and paid for the products in BTC, which was then converted to Argentina’s fiat currency, the peso, to pay the agricultural chemicals’ exporter.

Source: https://www.cryptoglobe.com/latest/2019/02/argentina-and-paraguay-settle-export-deal-in-bitcoin-in-landmark-event/

Keplerk Plans to Sell Bitcoin in 6500 Stores by February

On January 8,  2019, the first six tobacco stores in France began selling bitcoin as a result of a deal inked with Keplerk, a French fintech company that intends to expand the sale of bitcoin to 6,500 more stores by February. In November 2018, it was announced that Keplerk, a French fintech company, would be partnering with tobacco shops in France to make bitcoin as easily purchasable as cigarettes. Now, the first 6 tobacco shops in France have begun selling bitcoin alongside their products and according to the management of Keplerk, there are plans to bring aboard as much as 6,500 more shops by February……

Source: Keplerk Plans to Sell Bitcoin in 6500 Stores by February

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Crypto exchange Huobi Russia launches legal lab – TokenPost

Earlier this month, Huobi Group officially announced the opening of its Russian office, launched in partnership with the VEB Digital Transformation Center and Russian experts in the field of blockchain and exchange trading. According to the latest announcement, the legal competence center has been launched with the support of VEB’s Digital Transformation Center. The legal lab will be led by Elina Sidorenko, Professor at Moscow State Institute of International Relations (MGIMO).

Source: Crypto exchange Huobi Russia launches legal lab – TokenPost

Crypto Project Bakkt Secures $182.5M In First Funding Round

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Bakkt, the digital assets platform developed by Intercontinental Exchange – the operator of New York Stock Exchange (NYSE), has secured $182.5 million in its first round of funding. According to the official announcement, the funding round saw participation from Boston Consulting Group, CMT Digital, Eagle Seven, Galaxy Digital, Goldfinch Partners, Alan Howard, Horizons Ventures, Intercontinental Exchange, Microsoft’s venture capital arm, M12, Pantera Capital, PayU, the fintech arm of Naspers, and Protocol Ventures…..

B for Blockchain, B for Bitcoin, B for Bubble, B for Bust! — Barbados Underground

The following New York Times article is of interest given the focus on emerging blockchain and related technology in Barbados – Blogmaster PALO ALTO, Calif. — Last year around this time, a toy called a cryptokitty sold for $170,000. A real estate agent remade himself as CoinDaddy, producing cryptocurrency-themed music videos. The man behind a […]

via B for Blockchain, B for Bitcoin, B for Bubble, B for Bust! — Barbados Underground

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