Bloomberg Says Bitcoin Indicator ‘Suggests More Pain’ – Plus Ripple and XRP, Tron, Ethereum, Litecoin, Binance Coin, Monero, IOTA

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From a new short-term outlook on Bitcoin to an overview on crypto mass adoption from Litecoin creator Charlie Lee, here’s a look at some of the stories breaking in the world of crypto.

Bitcoin

A technical indicator that calculates intraday volatility suggests Bitcoin is close to being overbought.

The GTI Global Strength Indicator points to a potential drop in the price of BTC, according to new analysis from Bloomberg. Bitcoin followed a similar path last month and then dropped about 3% over a two-week period.

The CEO of London-based blockchain investment company KR1, George McDonaugh, agrees with the analysis.

“We are due for another retest of the lows. Normally, a market tries more than once to test the depths of despair, and so far we’ve only had one clear test, which hit around the $3,100 level.” 

Ethereum

The latest edition of EthHub Weekly is out, covering all things Ethereum and the wider crypto ecosystem.

This week’s post looks at new developments at 0x, Etherscan and MakerDAO, and includes a new interview with Ethereum founder Vitalik Buterin.

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Ripple and XRP

Meanwhile, crypto enthusiast Hodor has published an overview of a number of recent developments for Ripple and XRP in the world of monetization, including a look at Coil and a push for XRP tipping via Skype.

Litecoin

Litecoin creator Charlie Lee says two things are holding back crypto adoption. In a new interview with NewsBTC, Lee points to the volatility of the crypto market and the difficulty of storing crypto assets as a couple of main concerns.

“Because crypto prices are so volatile, it’s hard for people to actually use it, meaning adoption is hampered. Volatility is kind of a chicken and the egg type scenario. Once there is adoption, volatility will decrease, meaning more adoption. So it’s a slow process for that to work for us to overcome that…

So people are using exchanges to store their coins because they can’t do it themselves. It’s easy, but then you hear all the stories about exchanges getting hacked. And that really hurts adoption. So probably, we just need to work on having better, easier solutions that allow people to store their own money.”

Binance Coin

Binance says it will use a lottery format to determine which users can participate in token sales hosted on Binance Launchpad, instead of the first come, first serve system.

With the new system, qualified users can claim up to five lottery tickets based on how much Binance Coin they own in the 20-day period leading up to the lottery.

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Tron

The Tron Foundation just released its latest weekly report on the platform’s overall ecosystem, including an update on BitTorrent and Tron’s newly announced partnership with Tether.

IOTA

The team at IOTA has released an overview on the Qubic Computation Model. The protocol is designed to vastly improve IOTA’s capabilities by enabling distributed computing and smart contracts on a global scale.

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Monero

Leading crypto exchange Binance has published a report analyzing the implications of Monero’s recent hard fork.

The report covers the platform’s new privacy features, improved security, ASIC resistance, increased mining profitability and more.

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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