From a Bitcoin forecast by the developer of the notorious Silk Roadway market to rising volume on the XRP Ledger, here’s a take a look at a few of the stories breaking in the world of crypto.
Bitcoin is poised to surge to $100,000 over the next year, according to the creator of the darknet market Silk Roadway, which was known for offering controlled substances and illicit products.
Ross Ulbricht is serving a double life sentence plus 40 years without the possibility of parole for running the online market, where users negotiated in Bitcoin.
In a brand-new article on Medium, Ulbricht states he’s getting Bitcoin charts sent to him in prison on a weekly basis. He’s tracking the leading cryptocurrency’s trajectory using Elliott Wave Theory, a market analysis approach that intends to predict future price action by determining crowd psychology which manifests in waves.
Ulbricht states his analysis of the very first cycle, which is broken up into 5 waves, reveals BTC is likely to reach $100,000 in 2020.
” If the price move of wave ⑤ was on par with ① and ③ (530–620 x), it would need to end around $93,000-$109,000
Therefore, if our analysis that wave ⑤ is not over, and the ~$20,000 peak was just wave (3) of ⑤, then an excellent target for completion of wave ⑤ of ⑤ of I is around $100,000″
Regardless of his jail time, Ulbricht is thought about a pioneer in the crypto market, and more than 250,000 individuals have actually signed a petition urging for his clemency.
Investor and Bitcoin bull Tim Draper recently made headlines by calling for his release.
” I get that he’s got to be an example, and he stepped over the line.
Ripple and XRP
Brand-new numbers reveal the use of Ripple’s XRP-powered cross-border payment product On-Demand Liquidity (ODL) may be on the increase.
The Liquidity Index Bot reveals record XRP volume today versus the Mexican Peso on the crypto exchange Bitso.
Bitso is one of the exchanges powering ODL, and cash transfer giant and Ripple partner MoneyGram states it’s now moving 10%of its everyday transactions between Mexico and the US by utilizing the liquidity product.
— Liquidity Index Bot (@LiquidityB) December 13, 2019
The Litecoin Foundation’s efforts to raise cash to money the research study and implementation of personal privacy functions seem settling.
The Foundation has now gotten163 LTC worth about $7,230 at time of publishing.
Litecoin creator Charlie Lee states he will match every donation. The cash will money efforts led by designer David Burkett to carry out the Mimblewimble protocol.
Got! Thank you.
— Charlie Lee [LTC⚡] (@SatoshiLite) December 12, 2019