n Multiple respondents have filed comments with the U.S. SEC on the latest proposed rule change for the VanEck/SolidX Bitcoin ETFn
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Will Tron (TRX) “Crash” Because of Craig Wright Comments?
- Tron price could edge higher, down 3.6 percent in the last week.
- Fundamentals and technical factors favor bulls
- Transactional volumes low. Any spike in volumes may see TRX close above 3.1 cents
Craig Wright thinks Tron is a scam that will dump hard. Nonetheless, candlestick arrangement favors bulls. Besides, recovering Bitcoin (BTC) prices often drive altcoin prices higher further cementing our stand that there is an undervaluation of Tron (TRX).
Latest Tron (TRX) News
Fundamentals
All along, even in one of the longest and brutal crypto winter, Tron figureheads remain determined. A couple of updates and partnerships later, it is increasingly becoming clear that Justin Sun and the Tron foundation are undeterred and eyeing the dominance prize.
Like Ethereum, the Tron Network had a hard fork as they prepare for institutional investors from BitGo. However, this has been their goal all along. Tron is a successful smart contracting platform. Furthermore, it is a fan favorite in social media circles.
#TRON will launch 3.5 hard fork upgrade on 2/28. New Features: 1. multi-sig and acct mng, institution ready 2. Dynamic energy adjustment to real-time network performance 3. 50% up performance & res usage 4. Better VM safety, events server for Dapps. Go! #TRX $TRX
— Justin Sun (@justinsuntron) February 24, 2019
It may be incensing for Craig Wright, a Bitcoin maximalist who claims that he has the tools to decipher ZCash and Monero’s privacy.
However, for Tron puritans, they are inching closer to their objective despite sliding to tenth in the market cap rankings.
since when did better technology matter in crypto anyway. especially when you have coins like $TRON who have nothing but alot of marketing and can achieve notable market price success still
— cryptosatoshi (@cryptosat284) March 5, 2019
Candlestick Arrangements
Surprisingly, Tron (TRX) performance is dismal and lagging other assets. In the top 10, the high supply coin is down 3.6 percent from last week’s close and stable on the last 24 hours. If anything, this is not what we expected because candlestick arrangements, as well as recent fundamentals, favor Tron (TRX) bulls.
Despite this glitch, it is likely that prices will recover and edge higher as set by the price action of late Feb. Note that price action in the daily chart points to demand and as long as prices are trending above 2.1 cents or Jan 14 lows, there are high chances that Tron (TRX) will rally towards 3.1 cents and 4 cents in the short-term.
Founding our optimism is yesterday’s resurgence that concluded a three-bar reversal pattern off the bull break-out level. All the same, we need confirmation of yesterday’s high-volume bull bar. It is after when prices close above yesterday’s high is when aggressive traders can buy on dips with first targets at 4 cents. On the reverse side, any close below Mar 5 or Jan 14 lows, will nullify this projection.
Technical Indicators
Our anchor bar is the high-volume bull bar of Feb 4. Even though trade ranges are tight, volumes are high. For trend resumption, we need prices to close above 2.5 cents—our bull breakout level. It will be perfect if that is at the back of high volumes exceeding averages of 11 million. However, the real deal will be a breakout above 3.1 cents accompanied by high volumes above 42 million.
The post Will Tron (TRX) “Crash” Because of Craig Wright Comments? appeared first on NewsBTC.
Binance CEO Lauds Jack Dorsey’s Pro Bitcoin Comments On Joe Rogan
Jack Dorsey, the chief executive of both Twitter and Square, two of Silicon Valley’s darlings, has recently become a fan of Bitcoin. He overtly pledged his allegiance to the cryptocurrency in early-2018, when his fintech-centric company, Square, launched Bitcoin capabilities on its so-called “Cash App.”
In interviews, Dorsey chalked up this sudden shift in business strategy to the fact that he personally believes that BTC will become the Internet’s “single currency.” Dorsey doubled down on this investment thesis recently, as the tech industry star took to the podcast of Joe Rogan, which sports over four million subscribers on Youtube, to touch on his opinions on the subject matter.
Related Reading: BTC Beats Twitter, Jack Dorsey’s Square Market Cap Reaches Billion
Twitter CEO Talks Bitcoin In Front Of Hundreds Of Thousands
In the interview released Friday, Rogan, who has brought on Andreas Antonopoulos among other pro-crypto guests previously, suddenly brought up Cash App’s crypto integration, questioning the Twitter founder about the matter. When asked about whether Cash would be adding alternative cryptocurrencies, Dorsey was quick to respond with skepticism.
Dorsey simply noted that the “Internet will have a [single] native currency,” subsequently adding that from his point of view, it is most likely going to be Bitcoin. He explained that the cryptocurrency is the most battle-tested, and has the strongest principles and value propositions. Elaborating on his thought process, Dorsey stated:
“It is something that was born on the internet, that was developed on the internet, that was tested on the internet. It is of the internet. The reason why we enabled the purchasing of Bitcoin in the Cash App is that we wanted to learn about the technology, and put ourselves out there and take some risks.”
He added that the Internet needs a currency, as it will bolster many operations worldwide, especially financial transactions and processes. Dorsey even went on to lambast the speculative nature of cryptocurrency markets, noting that Cash actually curbs day traders, while disallowing purely speculative transactions made via credit.
His cardinal point was that he wishes to see cryptocurrencies reach global adoption not as an asset, but as a tool for the betterment of society.
Crypto Community Pleased With Dorsey’s Comment
While Dorsey’s comments regarding cryptocurrencies likely made decentralists smile, this most recent installment of Rogan’s podcast wasn’t without controversy. Regardless, much of the crypto community was pleased with Dorsey’s confidence to preach the good word of Bitcoin, as it were.
Couple more reasons I like @jack. Pushing native internet currency (crypto). And he doesn't accept credit cards yet, haha… https://t.co/t7Jn1wFiyO
— CZ Binance (@cz_binance) February 2, 2019
Changpeng “CZ” Zhao of Binance noted that a primary reason why he likes Jack is his pushing of cryptocurrencies, along with the fact that “he doesn’t accept credit cards yet.” Gabor Gurbacs, VanEck’s crypto head, echoed CZ’s extolling of the Twitter chief, noting that Square’s team is “doing awesome work.” NewsBTC’s very own Joseph Young noted that while Square’s monumental growth over 2018 wasn’t primarily catalyzed by the integration of Bitcoin, but noted that the company is “prioritizing innovation,” with Dorsey at the helm.
It isn’t clear what steps the Silicon Valley bigwig is going to take next to bolster Bitcoin’s rankings on the global financial system, but, as reported by NewsBTC in the past, he has made it abundantly clear that he is willing to push adoption of BTC with a fiery passion.
Featured Image from Shutterstock
The post Binance CEO Lauds Jack Dorsey’s Pro Bitcoin Comments On Joe Rogan appeared first on NewsBTC.
The SEC Stops Accepting Public Comments on Bitcoin ETFs, Takes Time to Make Decision
n On Nov. 5, community expected the SEC to release its decision on nine crypto ETFs. Heres why it didnt happen and what you should know about the current situation with ETFsn
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Mike Novogratz Clarifies Anti-Tether Comments, Wants FUD Stopped
The dismissal market performance of so-called stablecoin Tether should not be the reason to spread FUD against it, clarified Mike Novogratz in his tweet.
The billionaire Bitcoin bull, who recently criticized USDT for misbalancing its dollar-peg, later said that he believes Tether has every dollar for every USDT. However, he retained his criticism over Tether not being transparent to the community, in the absence of which it is losing grounds in the cryptocurrency market.
“Id like to put context to these quotes as the last thing I want to do is spread FUD. I said I thought tether has a dollar for every tether and that we actively traded it. The fact that almost 0mm has been redeemed in an orderly fashion is important.”
This Week in Tether
Once the leading stablecoin, Tether got reduced to one of the most criticized coins in crypto industry. On Monday, the USDT lost its peg to the dollar, soon after the news of the insolvency of BitFinex – Tether’s partner exchange – went public (the Exchange refuted the reports later).
Reports claiming that Tether LLC did not have adequate fiat dollars to back its USDT token supply also fueled negative trading sentiment in the market, pushing the value to as low as 85 cents against the dollar. In the meantime, other stablecoins that are supposedly regulated and backed by real fiat capital, took a competitive advantage, with each of them recording higher trading volume against the USDT.
![](https://s3.amazonaws.com/main-newsbtc-images/2018/10/20101251/Screen-Shot-2018-10-20-at-14.12.26-1100x1007.png)
Source: CoinGecko | USDT/USD CHART 7D
Since forming lower lows towards .85, Tether has now recovered most of its losses but now is trading circa 0.5 cents below its one dollar peg.
Transparency Could Stop FUD
While the market was swapping USDT for other stablecoins, Tether didn’t publish a single statement that could hold the fort. Novogratz recognized that it is not the question of insolvency but the Tether’s inability to communicate that is invoking a negative sentiment in the USDT market. He said Tether must work hard to regain its users’ trust.
The last and the only relevant communication that came from Tether was on October 18. Tether retweeted Cameron Winklevoss, whose Gemini exchange also issues stablecoins, explaining why companies like themselves couldn’t perform an audit.
Traditional systems take time to adapt to the pioneering work taking place in this space. https://t.co/ykapXrhEqJ
— Tether (@Tether_to) October 17, 2018
Gemini, however, has its assets stored in a US-regulated bank named State Street. The exchange has also received approval from the New York Department of Financial Services (NYFDS) to issue stablecoins. On the auditing front, Gemini has hired an independent accounting firm BPM LLP to conduct monthly inspections of its balance sheets. Other stablecoins are also taking the auditing process by third-party experts seriously.
Why don't You just get an real official audit and state a Guarantee that all USDT is backed up with USD at ALL TIMES (not just a date from June 2018)?
Quit the drama, people are loosing trust and customers are leaving the CC space…. This can't be very profitable for You guys.— BAT (@BjTjensvoll) October 17, 2018
In the case of Tether, the company has not been able to rope in any credible financial auditor yet to have its balance sheets inspected, fairly and openly. So, even despite the best of intentions, traders are not willing to ignore the USDT red flags and are, instead, choosing other stablecoin alternatives.
Only Tether can stop the FUD, so it may seem.
The post Mike Novogratz Clarifies Anti-Tether Comments, Wants FUD Stopped appeared first on NewsBTC.
SEC Announces October 26 Deadline for Comments on Review of Nine Rejected Bitcoin ETF Applications
The post SEC Announces October 26 Deadline for Comments on Review of Nine Rejected Bitcoin ETF Applications appeared first on DCEBrief.
Hodlers Digest, September 16-23 Elon Musk Wants Advice on Twitter Crypto Scammers, the US SEC Wants Comments on BTC ETFs
n Elon Musk wants those pesky Twitter crypto scammers gone, and Japan suffers yet another crypto exchange hack read more in this weeks Hodlers Digestn
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Bill Gates’ Critical Comments on Crypto Causes Backlash
Bill Gates made provocative statements in an ‘Ask Me Anything’ on Reddit Tuesday that have garnered some serious backlash from the crypto community.
The founder and former CEO of Microsoft, and the richest man in the world for 18 years before semi-retiring to head the Bill and Melinda Gates Foundation, had some negative things to say about cryptocurrencies in his sixth Annual Reddit AMA.
Gates Critical of Crypto on Reddit
Each year Bill and Melinda get together to dedicate some time to answering questions on Reddit, these questions normally have to do with the couples extensive charity work around the world. It was a surprise to many then when Gates went off on a bit of an anti-cryptocurrency tangent Tuesday.
The focus of his comments was on the anonymity that most users feel is central to the success of Bitcoin and it’s ilk. First pointing out that “The government’s ability to find money laundering and tax evasion and terrorist funding is a good thing.” He then went to say the use of cryptocurrency to buy illegal drugs has ended in death.
“Right now cryptocurrencies are used for buying fentanyl and other drugs so it is a rare technology that has caused deaths in a fairly direct way.”
When a Reddit commentator argued that plenty of fentanyl is bought using fiat currency Gates recounted with the bizarre argument that “Yes — anonymous cash is used for these kinds of things but you have to be physically present to transfer it which makes things like kidnapping payments more difficult.”
Perhaps he doesn’t see that paying drug dealers with fiat currency face to face can lead to very real violence and kidnapping instead of the virtual type.
Also, did he forget that in 2014 he liked the idea of being able to transfer currency virtually? “You don’t physically have to be in the same place, and of course, for large transactions (of) currency (it) can get pretty convenient.”
He finished his comment sounding like so many other fiat currency pundits by adding that “I think the speculative wave around ICOs and cryptocurrencies is super risky for those who go long.”
Statements Not a Change of Opinion
Though these comments set off a flurry of negative responses from the cryptocurrency faithful on Reddit and Twitter it doesn’t actually mark a turnaround for Gates.
He in no way criticised the technology that makes up the backbone of cryptocurrency in his statement but pointed out the way humans may abuse the opportunities it creates. The Gates Foundation released software in October in cooperation with Ripple to create banking service infrastructure to developing countries.
The post Bill Gates’ Critical Comments on Crypto Causes Backlash appeared first on NewsBTC.
Bill Gates’ ‘Nonsense’ Crypto Comments Draw Twitter Ire
Billionaire philanthropist Bill Gates claimed cryptocurrency “has caused deaths in a fairly direct way.” The crypto community found that very amusing.
CoinDesk
Bitcoin forum shows me comments only
Like if the topic is:” how to bitcoin earn?” If I open this it will show up “Re:how to bitcoin earn?” Headlines with comments of this post. I think I have …
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