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Bigger Bitcoin Move Expected by Market Analyst Jim Wyckoff

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    Bitcoin's unsettling stability is generally perceived as calm before the storm, and Jim Wyckoff predicts another pivotal move

Bigger Bitcoin Move Expected by Market Analyst Jim Wyckoff
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Bitcoin's volatility has plunged as of recently, which opens the doors for another significant price move, according to market analyst Jim Wyckoff

This “collapse in volatility” suggests a much bigger price move is right over the horizon—maybe yet this week.

Wyckoff describes Bitcoin's recent price action as "choppy, quiet, and sideways." The top cryptocurrency has been see-sawing within the same trading range ever since it recorded its third-biggest gain in history on Oct. 25. 

Bitcoin Price
image by kitco.com

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Considering that Bitcoin has been remarkably stable on Tuesday, it's not far-fetched to predict that another major price move could be happening as early as this week. 

The analyst points out that Bitcoin bulls have a 'slight' advantage as of now, which means that the top coin might be ready to breach the much-coveted $10,000 level. However, the bulls are not out of the woods just yet given that each attempt to touch the aforementioned has so far resulted in a failure.  

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Crypto trader 'Altcoin Psycho' says that he's becoming bullish as long as Bitcoin holds its current level. According to CoinStats data, BTC is currently changing hands at $9,309 after recording an intraday high of $9,421. 

However, Bloomberg reported that Bitcoin had entered the overbought territory, meaning that buyers' exhaustion could lead to another significant price drop.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Ripple's Partner Wants to Transform Gaming Industry with XRP

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    Forte reveals the benefits of using Ripple's XRP for creating digital economies

Ripple's Partner Wants to Transform Gaming Industry with XRP
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San Francisco-based company Forte, which formed a $100 mln fund in partnership with Ripple's investment arm Xpring back in March, keeps working on applying the blockchain technology in gaming.

Recently, Forte co-founder Brett Seyler explained the benefits of using XRP.  

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Blockchain-based gaming economies  

Forte is helmed by top-tier industry executives (including its founding CEO Kevin Chou) who are not focused on creating new powerful economies within the $140 bln gaming while making it more decentralized. 

There have been multiple attempts at creating a killer gaming dApp, but the technology is still way too cumbersome for the average Joe. Forte wants to address the adoption problem by making such games more approachable.       

“Creating game economies with multi-sided participation, open markets and increased transparency offer a potent solution to the challenge of the complexity plaguing game developers that result in stagnant economy design,” said Seyler.  

Blockchain is a perfect tool for creating peer-to-peer gaming economies since it could make in-game transactions easy, fast, and transparent.       

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The impact of XRP  

In order to make the magic happen, Forte utilizes the Interledger protocol (ILP) that was created by former Ripple CTO Stephan Thomas for establishing connections between multiple blockchains. 

On top of that, the startup also uses XRP for increasing the level of interoperability as well as security and liquidity.  

Since its inception, Xpring invested more than $500 mln in around 20 companies to streamline the adoption of XRP.  

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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