Tron (TRX) Blow, Tether (USDT) Reason for Reward Postponement
Tron (TRX) prices ranging
Justin Sun postpones USDT rewards in light of USDT troubles
Bye-Bye Bitcoin? Why the Altcoin Bottom is In
Wednesday November 13, 2019
Throughout 2019, Bitcoin has been mostly bullish, rising as much as 350% from trough to peak, all while the altcoin market has continued to bleed out further. However, according to one expert crypto analyst,...
Technically, Tron (TRX) is in an uptrend, but before 4 cents, bulls must clear 3.1 cents. Spurring that may be fundamentals, but with Justin Sun postponing USDT rewards, it may be a while before TRX demand rise.
Tron Price Analysis
The circus around iFinex promise to be disastrous for BitFinex—a trusted exchange laden with scandals, and Tether Limited—caught lying about reserves backing USDT. Note that this will also be consequential for company leaders who despite all this may not be extradited to the US to face justice because it is USDT fraud, not USD. It is also contagious, with reverberations beginning to permeate through the crypto ecosystem.
If anything, it is about USDT and less than a month after minting $300 million, Tron’s Justin Sun is backing off from his plan of rewarding the community. In their game plan, USDT would launch in Tron as a TRC-20 token allowing smooth transaction with Tron-based dApps.
Besides, USDT as a TRC-20 token would make it easy for institutional investors to choose the network over competitors. However, with this melee, Justin Sun is postponing his plans saying:
“Given the recent news about both BitFinex and Tether, I will be postponing our planned USDT rewards program until more information becomes available. It was by no means an easy decision. My team and I have been focused for months on bringing stability and liquidity to the TRON community. We are still committed to doing what’s best for the network and will examine our options after hearing how events unfold with BitFinex and Tether.”
Ripple (XRP) Price Resuming Decline, Bitcoin Breaks $8.5K
Monday November 18, 2019
Ripple price is under pressure and struggling to surpass the $0.2660 resistance against the US dollar. The price is currently declining and it is likely to break the $0.2580 support area. There is a...
The post Ripple (XRP) Price Resuming Decline, Bitcoin Breaks $8.5K appeared first on 12bitplay - Bitcoin Play.
Overly, Tron (TRX) prices are ranging inside a 1 cent zone. With primary support at 2.1 cents or Jan 14 lows, bulls are struggling to close above 3.1 cents despite a bullish trend. Unless otherwise there is a spike in participation forcing TRX to rally above immediate resistance at 2.7 cents, yesterday’s bull bar off 2.5 cents would be null in our analysis.
Since TRX/USD is ranging, patience is all-important. Moving on, we recommend taking a neutral stance until TRX rally past 2.7 cents triggering short-term buys aiming at 4 cents. If not and there is a meltdown, TRX could retest 2.1 cents. However, any drop below that mark invalidates our bull plan.
Reversing losses of Apr-25 is essential. With higher highs in the last few days as prices move towards equilibrium, break above 2.7 cents must be with high volumes exceeding 13 million. That will confirm buyers of Jan 14 and Mar 23.
Chart courtesy of Trading View
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Bitcoin (BTC) Price Looks Set For Another Breakdown
Thursday November 14, 2019
Bitcoin price is extending losses and it traded below the $8,640 support against the US Dollar. The price is likely to decline further below the $8,560 and $8,500 support levels. Morning’s short term breakout...
The post Bitcoin (BTC) Price Looks Set For Another Breakdown appeared first on 12bitplay - Bitcoin Play.