Analysis of prices BTC, ETH, XRP (31.12.20)


Yesterday, the bulls continued the race to the end of the day, the bitcoin price managed to test the level 29000.00 USD. Overnight the pair has set an absolute record in the point 29300.00 USD as of this morning, fell back slightly from the maximum.

It seems that the bulls have secured a foothold before the year end target 30000.00 USD. If a rollback is not will continue below $ 28000.00 USD, this year we will be celebrating the psychological high of thirty thousand dollars!


Yesterday, in the first half of the day, the buyers tried to break the resistance of the upper border of the rising green channel, but until this morning the price of Ethereum and are unable to gain a foothold above this trendline.

The rate marked a new annual maximum around 758.00 USD, but sellers returned the price of the air within the rising channel. If buyers cope with strong resistance from the upper boundary of the channel, until the end of 2020, the price of ETH will test the psychological mark of USD 800.00.


Yesterday the sellers tried to push the price of Ripple to the bottom edge of the blue hall, but the pair managed to stay near the level of 0.213 USD.

However, Ripple market cap fell below $10 billion and the asset has lost third place in the CoinMarketCap top of the most capitalized cryptocurrency, shifted on the fourth line of the rating.

Believe, until the end of this year, the price held in a sideways consolidation. Buyers will try to restore the price, but most likely, they will not manage to punch resistance of a two-hour moving average EMA55 and the pair will continue sideways.

* All prices shown are based on data exchange BitStamp


Omkar Godbole: July probably will be the best year for bitcoin in 8 years

This July will be the best for bitcoin for 8 years, if, before the end of the day there is no significant rate changes, CoinDesk analyst Omkar Godbole.

Bitcoin at the time of publication is trading around $11 200, up from the beginning of the month by 22%. Closing time Friday candle cryptocurrency rate should remain at this level to confirm that the largest gains for the seventh month in 2012, when the price has risen by 40%. If bitcoin drops below $11 050, figure this month will yield results in 2018, when the increase was 21%.

The rise in the second half of July marked the end of a two-month period of consolidation between $9 000 and $10 000. At the same time, a decrease in the U.S. dollar on foreign currency markets, and gold updates historical highs of around $1 950.

«Bitcoin stood out this year on the background of the enormous stimulus measures of Central banks and the collapse of the financial system,» said technical Director Bitfinex and Tether Paolo Ardoino.

According to the analyst, the bitcoin remains in a strong downtrend with a small number of signs of stress, despite the increased on-week sales up. The largest mining pool Poolin on Wednesday brought to the stock exchange 435 BTC, which corresponds to the biggest outflow in a single day since may 3.

On the monthly chart triangle breakout is obvious, the downlink, or the resistance which carried out from the top two and a half years ago.

The analyst believes that this opens up the possibility for raising the resistance of $13 880 to the highs of June, 2019, but does not rule out a pullback given the overbought according to relative strength index.


The Chinese authorities do not plan to completely ban bitcoin in the country

The arbitration Commission of Beijing, a non — profit organization that deals with disputes of economic entities, — said her analysis of the situation in China shows that the country’s authorities do not intend «to ban bitcoin». Their understanding of how the legal regulation of cryptocurrency in China, the Commission outlined in a special report.

The report States that, as in other countries, China’s Central Bank is considering local currency (in the case of China digital yuan) as the only means of payment. A similar status of cryptocurrencies de facto exists in the United States, which recently confirmed Washington lawyer Jake Czerwinski.

However, unlike the US, China prohibits those companies that use the process of issuing tokens as a funding tool, «get out» of cryptomeria in the field of conventional funds. Exactly the same limitation exists for work of trading platforms. Thus, the Chinese authorities forbid us to consider the cryptocurrency as a form of money, but recognized her the status of «virtual goods».

This de facto and the status is not accurate in nature, judging how to apply the civil law of China against bitcoin, as one of the most popular cryptocurrencies in China. We are talking about the fact that in each case, the courts of China consider the specific economic argument and based on all of the nuances to determine how to treat bitcoin and other cryptocurrencies.

Unlike Switzerland, where the authorities decided to directly apply the General commercial law for the regulation of cryptocurrencies in China, the question of digital assets rendered as if the brackets of the existing civil law with the amendment that the whole sphere of the amount of cryptocoins should administer a special law. However, China has not adopted such legislation. All this, however, did not prevent the development of bitcoin mining in the country, with the result that local miners the oldest cryptocurrencies in the world now control 65% of the total hash rate yet this kryptonite.


The Dogecoin blockchain is used to control botnet

Intezer researchers have discovered new malware that uses the Dogecoin blockchain to deploy attacks on cloud servers and covert mining of cryptocurrencies.

According to researchers in the field of cybersecurity Intezer, new malware is a previously undetected Linux backdoor Doki that uniquely uses the Dogecoin blockchain to hack a cloud server. It is deployed via a botnet called Ngrok. The researchers reported:

«The attacker controls, which address the malware will be in contact, transferring a certain amount of Dogecoin from your wallet. Because only the attacker has control over the purse, only he can control when and how much Dogecoin to translate, and thus to switch between domains».

The researchers also noted that during the last campaigns the attackers targeted the installation of Docker, which were open and unprotected APIs. Criminals deploy new servers within the cloud infrastructure. Then servers running on Alpine Linux, were infected with malicious miner and Doki.

Use Dogecoin to deploy is associated with the hidden mining malware makes it «highly resistant» to the actions of law enforcement agencies and experts on cyber security. That’s why Doki managed to remain unnoticed for more than six months, despite the fact that he was loaded in the database VirusTotal in January. The researchers emphasize that such an attack «very dangerous»:

«Available data suggest that infection requires only a few hours from the moment when a new misconfigured server Docker was connected to the network».

Recall that last summer, Skybox Security company conducted a study according to which hackers has shifted from viruses miners for conventional PC users on hacking and the use of resources cloud services.


The exchange Huobi has launched a platform for institutional investors

The bitcoin exchange Huobi has announced the launch of the platform Huobi Institution on the digital asset management and storage for enterprise customers.

According to the company, the service will allow qualified institutional investors and individuals with high income levels to transfer the assets under the control of the specialists from among the leading teams for quantitative trading.

«Combining the two sides of the market on their platform, we want to establish the connection between the traditional markets of Finance and economy of digital assets,» said Vice-President, global markets Group Huobi Ciara San.

The company says it will conduct a thorough inspection of all traders, including their trading history. The Manager will also have to Deposit part of their assets. Investors will be offered a few plans of yield, including fixed rate, protection of capital and capital at risk. Huobi, for its part, will implement the risk control, including over the ratio of borrowings to the value of assets and drawdowns in order to protect investors from foreclosures.

During the launch phase for trading will be used by the markets, Huobi, OKEx and Binance. Will trade in the spot format, and use cross-lagged margin, futures and perpetual swaps. The size of leverage when trading futures and swaps will be limited to 20x. Supported assets include USDT, BTC, ETH, EOS, BCH, LTC, TRX, ETC, XRP, ADA, DASH, ATOM, BSV, XLM, and ZEC.


Investors buy cryptocurrency

Big investors started actively buying bitcoin in large volumes. Over the past few days a number of wallets with the balance in BTC at $1 million and more increased by 38%, to 18 thousand addresses. This happened on the background of growth of exchange rate of bitcoin to $11 000. Such data are published by the analytical service Glassnode.

«With the recent increase in the price of BTC a number of purses with at least $1 000 000, increased by ~ 38% and now amounts to about 18,000,» — said the analysts.

Big investors aren’t only interested in bitcoin. From mid-July the exchange rate of the token XRP has increased by 30%, the current value — $0,245. However, the percentage of the holders of the asset with a capital of from $240 thousand to $2.4 million increased by 3.7%, writes portal Сointelegraph with reference to the analytical service Santiment.

The reason for expressions of interest in bitcoin by large investors can be the current crisis. To support the country’s economy produced the currency leading to its depreciation. Bitcoin will outperform traditional money, its issue is limited to 21 million coins. Perhaps for these reasons, the founder of hedge Fund Tudor Investment’s Paul Tudor Jones decided to invest in BTC. In may, the billionaire said that he bought a coin for $50 million.


The yield of cryptofauna Pantera Capital for 7 years has exceeded 15 000%

Well-known venture capital firm Pantera Capital has submitted the July report on the dynamics of administered funds. Pantera Bitcoin Fund outperformed bitcoin, showing a yield of 15 140% «clean» for seven years.

Pantera recently launched Digital Asset Fund positions in the DeFi-segment showed 86% year to date, ICO Fund — 43%.

Dynamics of the controlled Pantera Capital funds since the beginning of the year.

«Pantera Digital Asset Fund can access assets directly integrated with a growing ecosystem DeFi. The dynamics of this segment since the beginning of the year, ahead of the rate of bitcoin as a store of value», — stated in the report.

According to the service DeFi Pulse, the total amount of funds in the sector reached $3.9 billion Over the three weeks, the index has almost doubled.

The company believes that the growing popularity of the decentralized services of lending looks promising. However, they warn that DeFi-protocols require significant scalability, better infrastructure and more simple Fiat gateways. Only after solving these problems the introduction will be truly massive.

«The progress we are seeing in overcoming these barriers, and our expectations of the future make us optimistic about the future», — stated in the document.

The growth of the ICO Fund was based on obtaining a listing in the Foundation’s assets. Some positions also intersect with the space of decentralized Finance. In particular, the company holds the tokens of infrastructure projects aimed at improving functionality and usability DeFi-ecosystems.

The flagship Pantera Bitcoin Fund showed an increase of 43% since the beginning of the year. After payment of the fee for management at the rate of 0.75% of the first investors earned 15 140% for a seven-year period. The Fund does not charge a fee for the success.

Aimed at institucionales and high net worth individuals, the Fund allows you to withdraw funds any day. According to the report, despite this flexibility and the absence of premium to the amount of net assets, the majority of investors acts as hontarov. The average period of investment was 841 the day.

Recall that the amount of funds in cryptocurrency funds managed by Grayscale Investments reached $5.1 billion During the last 11 days, the inflow was $1 billion.


Cameron Winklevoss: a New rally of bitcoin will be different

According to the founder of crypto currency exchange Gemini Cameron Winklevoss, a new race of bitcoin will be qualitatively different from previous surges of its value.

On Twitter he said that the cryptocurrency infrastructure is now more developed than in previous periods. This situation facilitates the flow of capital into the industry, so investments in bitcoin may be more impressive.

The winklevoss stressed that even at the end of 2017 was not such a widespread infrastructure that we see now. In addition, the increased number of quality projects in the industry, which is also encouraging investors and encourages their presence in this sector.

The founder of Gemini also urged to take into account the inflation factor that compels the players to look for more reliable tools.

In this respect, the Winklevoss shares the view of those who believe that Fiat money is worthless, and more and more investors are beginning to shift to gold and bitcoin.

About the imminent return of the rally BTC Cameron Winklevoss said in April in the midst of a pandemic of mers. He noted that the global economic crisis caused by the COVID-19, is a great chance for bitcoin to get new investors and grow significantly in price.


For the growth of bitcoin is a powerful catalyst

Cryptocurrency market came close to a crucial resistance, the bulls will have to give our best.

The Bloomberg Galaxy Crypto, assessing the dynamics of several of the most common cryptocurrency, including bitcoin and ether, close to the mark of 500. This year he has twice tried to overcome this mark and both times unsuccessfully.

In addition, the relative strength index (RSI) is also in the overbought zone at around 80. About the same technical pattern was formed during the February rally that ended with the catastrophic collapse.

The cryptocurrency ran into a technical barrier

Bitcoin is the largest cryptocurrency this week, grew by nearly 17% on the background of rumors that the American government will strengthen monetary and fiscal stimulus, which will further weaken the dollar and increase inflation risks.

«We need a powerful catalyst to continue growth from current levels, because to record highs is still far away,» said ed Moya, chief market analyst at Oanda Corporation. «As soon as the price breaks above these levels, interest in cryptocurrency will rise again, reinforcing the bullish momentum in the market. The devaluation of the dollar also will benefit».

The analyst also noted that the 14-day relative strength index suggests that the rally brought gold prices and bitcoin to the overbought zone. However, the cryptocurrency industry has the potential to withstand the test of time.

«The fundamental backdrop is improving in the background of the inflow of institutional investors into the industry, and this momentum will lead to positive long-term consequences,» he said.

At the time of writing, BTC/USD was trading at $11 000. Yesterday’s attempt to break again was not successful. Coin tested the high at $11 355, but failed to gain a foothold in the new levels. Technical analysts say that in the long term, bitcoin shows no sign of weakening bullish trend. The bulls took a pause before the next leap upwards.


Commission bitcoin for the month jumped by 525%

Commission of bitcoin has grown along with the price of cryptocurrency, draws attention Derypt citing data Bitinfocharts.

Now the average cost of processing a bitcoin transaction is $5,80. Value for the month increased by 525%, and for the last three days – twice. At the same time, the price of bitcoin surged to their annual highs above $11 000.

The fee is usually grow with the increase of activity in the network of cryptocurrency. The current growth is not surprising, considering the number of translations of traders between the stock accounts in seeking to benefit from the dynamics in the market.

The increase in commissions was also due to the situation in manule first cryptocurrency. July 24, its size was raised to 80 megabytes. As a rule, in overloading users are willing to pay more to increase the priority of the transaction among the miners and soon to get confirmation.

The last time to comparable levels of fee bitcoin rose in may. After halving value briefly reached two-year high of about $6,60, and then fell again to a level of $1.

Also increased the size of the commissions in the network, the second largest cryptocurrency Ethereum. For the month grew by 180%. The result is the average value of fee for processing an Ethereum transaction now is $1.4, and for the interaction with smart contracts can exceed $10.