The total crypto market cap is climbing higher steadily and recently tested the $237.0B level.Bitcoin price is placed nicely above the $8,000 level and it remains supported near $7,800.Litecoin (LTC) price is moving higher towards the $95.00 and $100.00 resistance levels.Bitcoin cash price is currently correcting lower, but it remains supported near $385 and $380.EOS price is now well above the $6.00 level and it seems like the bulls could clear $6.20.Stellar (XLM) price is up more than 10% and it recently cleared the $0.1150 resistance level.The crypto market cap is gaining pace towards $250 billion, with positive moves in bitcoin (BTC) and Ethereum (ETH). Altcoins such as LTC, ripple, bitcoin cash, EOS, TRX, and stellar remain in an uptrend.Bitcoin Cash Price AnalysisBitcoin cash price rallied sharply this week and even tested the main $400 resistance against the US Dollar. The BCH/USD pair failed to stay above the $400 level and recently corrected lower below $395 and $390. An immediate support is near the $385 level, below which the price could test the $380 support.On the upside, the main resistances are near $395 and $400. A proper close above the $400 barrier could push the price towards the $415 and $420 levels in the near term.Litecoin (LTC), EOS and Stellar (XLM) Price AnalysisLitecoin price traded above the $85.00 and $90.00 resistance levels. LTC price is now trading above the $92.00 level and it seems like the price may clear the $95.00 resistance. The next crucial barrier for the bulls is near the $100.00 level.EOS price gained bullish momentum after it broke the $5.80 resistance level. The price climbed significantly and broke the $6.00 and $6.10 levels. EOS is currently well supported and it seems like it could soon break $6.20 and trade towards the $6.40 level.Stellar price settled above the key $0.1000 resistance level and started a nice upward move. XLM price cleared the key $0.1100 and $0.1120 resistance levels to move into a positive zone. The price is now up more than 12% and it seems like the bulls are aiming a break above the $0.1200 resistance level in the near term.Looking at the total cryptocurrency market cap 4-hours chart, there was a steady rise above the $215.0B and $220.0B resistances. The market cap recently broke the $230.0B barrier and climbed towards the $238.0B level. A swing high was formed near $237.3B level and it is currently elevated above $232.0B. It seems like there is a rising channel in place with support near $226.0B. Therefore, there are chances of more upsides in bitcoin, Ethereum, EOS, litecoin, ripple, XLM, BCH, ADA, BNB, TRX, ICX, and other altcoins in the coming sessions.
Archives for May 14, 2019
Ripple price is up more than 15% again today and it recently broke $0.420 against the US dollar.The price surged above the $0.4300 level and traded to a new 2019 high near the $0.4480 level.There is a major ascending channel forming with support near $0.4080 on the hourly chart of the XRP/USD pair (data source from Kraken).The pair remains in a significant uptrend and it could continue higher towards $0.4600 or $0.5000.Ripple price remained in a strong uptrend and climbed against the US Dollar and bitcoin. XRP settled above the $0.4200 level and it is likely to accelerate above $0.4500.Ripple Price AnalysisYesterday, we saw the start of a strong rally in ripple price above the $0.3500 resistance against the US Dollar. The XRP/USD pair broke many resistance near the $0.3800 level and settled well above the 100 hourly simple moving average. The pair is up more than 40% in the past three days and it recently cleared the $0.4000 resistance level. The upward move was strong as the price cleared the $0.4200 resistance. A new 2019 high was formed near the $0.4480 level and the price is currently in a strong uptrend.It is testing the 23.6% Fib retracement level of the recent wave from the $0.3754 low to $0.4482 high. On the downside, there are many supports near the $0.4220 and $0.4180 levels. There is also a major ascending channel forming with support near $0.4080 on the hourly chart of the XRP/USD pair. The channel support is close to the 50% Fib retracement level of the recent wave from the $0.3754 low to $0.4482 high. Therefore, if there is a downside correction, the price may find support near the $0.4200 or $0.4100 area.On the upside, a break above the channel resistance could push the price above $0.4500. The next key resistance is near the $0.4600, above which the price is likely to accelerate towards the $0.4800 level. In the best case, the bulls may even target the $0.5000 level in the next three sessions.Looking at the chart, ripple price is placed in a strong uptrend above $0.4200 and $0.4100. If the price starts a major downside correction, there are chances of a break below $0.4000. The main support is near the $0.3740, where the bulls may appear. Overall, the price is likely to remain strong and trade towards $0.4800 or even $0.5000.Technical IndicatorsHourly MACD – The MACD for XRP/USD is currently placed heavily in the bullish zone, with positive signs.Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently near the 70 level, with a flat structure.Major Support Levels – $0.4200, $0.4100 and $0.4080.Major Resistance Levels – $0.4500, $0.4600 and $0.4800.
ETH price climbed above the $210 resistance level and tested the $225 level against the US Dollar.The price remains in a strong uptrend and it could soon test the $240 resistance area.There is a new short term bullish trend line forming with support near $209 on the hourly chart of ETH/USD (data feed via Kraken).The pair remains well supported on the downside near the $215 and $210 levels.Ethereum price climbed sharply above $220 versus the US Dollar, and recovered a few points vs bitcoin. ETH price is likely to continue higher and the bulls are likely to target the $240 level next.Ethereum Price AnalysisYesterday, we discussed the chances of an upside break in Ethereum price above $210 against the US Dollar. The ETH/USD pair formed a decent support base near the $200 level and later climbed above the $210 resistance level. The bulls gained momentum above $215 and the price remained well above the 100 hourly simple moving average. As a result, there was a break above the $220 level and the price tested the first bullish target near $224-225. A swing high was formed near $225 and the price is currently correcting lower.An immediate support is near the $215 level. The next support is near $212 and the 50% Fib retracement level of the recent wave from the $200 swing low to $225 high. There is also a new short term bullish trend line forming with support near $209 on the hourly chart of ETH/USD. The trend line support coincides with the 61.8% Fib retracement level of the recent wave from the $200 swing low to $225 high. The main support is near the $204 level (the recent resistance area).On the upside, a break above the $225 level could open the doors more gains. An immediate resistance may be $230, above which the price is likely to surge towards the next bullish target at $240. The current price action indicates a short term downside correction, but the bulls are likely to protect $215 or $212.Looking at the chart, Ethereum price is clearly gaining pace above key levels such as $200 and $210. As long as the price stays above the $200 pivot level, it is likely to continue higher in the coming sessions. If there is a downside break below $200, the price could start a major correction towards $185.ETH Technical IndicatorsHourly MACD – The MACD for ETH/USD is currently moving nicely in the bullish zone.Hourly RSI – The RSI for ETH/USD is currently correcting lower from the 70 level, with a positive bias.Major Support Level – $212Major Resistance Level – $225
The company recently announced that it would be building a decentralized identity (DID) network on top of the Bitcoin blockchain, the oldest and arguably most trusted blockchain within the space. The network will be built in accordance with standards set by the Decentralized Identity Foundation, which Microsoft claims can overpower the “throughput issues” commonly witnessed on the Bitcoin blockchain.
How Can Bitcoin and Blockchain Be Improved?
Microsoft is also confident the use of the blockchain could lead to “tens of thousands” of operations per second. In a blog post, the tech giant explained:
“We believe every person needs a decentralized, digital identity they own and control, backed by self-owned identifiers that enable secure, privacy-preserving interactions. This self-owned identity must seamlessly integrate into their lives and put them at the center of everything they do in the digital world.”
A blockchain identity would allow people to log into online accounts without having to reaffirm themselves each time. As it stands, multiple online accounts mean multiple logins. A blockchain-based digital identity would allow users to simply log in once and then use that ID to access their online data, reducing “pain points,” as Microsoft calls them.
For Microsoft, the move likely means two things, the first being that they are looking to accomplish what several other companies either haven’t or couldn’t in the past. The second thing is that Microsoft clearly views blockchain as a technology that’s not part of the future but rather already here.
Since 2017, Microsoft’s dealings in blockchain have increased tenfold, with executives recently announcing that they had joined hands with coffee king Starbucks to provide the company with support for its blockchain, Internet of Things (IoT), and artificial intelligence (AI) divisions. The company had also previously entered a partnership with Mastercard in 2018 to assist in the development of another digital identity platform, much like what it’s doing on the Bitcoin blockchain.
The project was designed to give users greater ease when accessing their online data and accounts. These users, who have many passwords and credentials to remember, would no longer be required to commit all their login information to memory and could simply utilize a digital ID to bypass all these login pages.
Bitcoin and Blockchain Stand to Gain Much More
In many ways, this is just a deeper step into blockchain territory for Microsoft. Another solid addition to its already growing blockchain department. For bitcoin, however, the news is another push toward mainstream status and legitimacy. The move coincides with the currency’s recent price spikes, and at press time, one unit of bitcoin is trading for roughly $8,000 – the highest it’s been in nearly a year.
Its “contract” with Microsoft could signal greater usage and implementation into traditional financial companies, which could not only lead to further price hikes but stabilization for the currency and relief from the volatility that has plagued it since birth.
By CCN: Given the widely publicized troubles faced by Tether (USDT), there is a massive opportunity for a competitor to wade into the stablecoin arena. It appears that Coinbase will be that adversary, as the crypto exchange is taking the opportunity to double down on USDT’s problems and expand USD Coin (USDC) trading into 85 countries. USDT is the result of a collaboration between Coinbase and Jeremy Allaire’s Circle. According to the Coinbase website, the exchange does not support USDT.
Coinbase Is Going All in With USDC Expansion
It’s an incredibly sharp move by Coinbase, and the timing couldn’t be worse for Tether. It is no secret that USDT is extremely important as a source of liquidity in cryptocurrency markets. The need to retreat to a less volatile coin during periods of market stress is obvious, and USDT provides that. Given Tether’s ongoing legal troubles, however, the crypto market’s foundations are built on a rather questionable asset. Enter Coinbase.
Coinbase Smells Blood as USDT’s Legal Troubles Mount
As a large, well funded, and regulated global operation, USD Coin would be devoid of the kind of questions that Bitfinex and Tether are facing. To make it clear they are going for the jugular, here is the press release that Coinbase put out when they announced the plans:
“Unlike other cryptocurrencies, each USDC is backed by $1 USD with monthly transparency audits showing 100% USD backing. There are more than 300 million USD Coins in circulation today, supported by +100 ecosystem supporters. For these reasons, we see USDC as an important step towards a more open financial system.”
Ouch. It is common knowledge that Tether has failed to provide any real transparency and Coinbase is painfully aware of this fact. USDC isn’t so much an important step as an opportunity to crush a rival when they are down. With plenty of skeptics out there seeing a prolonged period of instability for USDT, it obtuse that crypto markets use it as a prominent means of providing just the opposite.
Tether Demand Drop Seems Inevitable
From a valuation perspective, a high-profile alternative sucks demand away from Tether. Capital may flow heavily into USDC, and this could see an already battered USDT drop more. Certainly, the current issue with the NY Attorney General’s office surrounding Tether’s access to funds must be resolved to start talking about progress.
USD Coin Looks Like the Future While Tether Is the Past
Ultimately this is a slam dunk for Coinbase. They can provide an essential service, improve upon their most significant rival’s offering, and expand at an opportune time. Chaos is always an opportunity for someone, and with USD Coin, Coinbase isn’t going to let this one pass them by. While there are plenty of other stablecoins, capital and brand recognition come with USDC. Longer term it’s hard to see how Tether competes unless: A.) They can prove they have close to the requisite funds to back the coin, or B.) The U.S. government clears them fully. Neither of these outcomes seems very likely.
“The US dollar is the reserve currency of the world and there is widespread demand for purely internet based access to dollar based investment products.” pic.twitter.com/xOMJKyyuz3
— Circle (@circlepay) May 14, 2019
While Bitcoin has the entire crypto world watching in shock and awe as the seemingly unstoppable rally continues, its crypto cousins in the altcoin market have only further dropped relative to their BTC ratio.However, according to previous altcoin/BTC bear cycles, an end to the carnage may be in sight. And once the bearish momentum eases up, the following uptrend has brought investors over 600% gains once altcoins join Bitcoin in a bull run.Altcoin Bear Cycle Coming to a Close as Drawdown Nears PeakDue to Bitcoin being paired with altcoins on most exchanges, the two crypto asset types have a closely tied relationship between one another, however, the relationship between altcoins and their big brother Bitcoin is a confusing one. At times, they rise and fall in a completely correlated way, while other times they appear to grow or decline inverse from one another.As soon as Bitcoin broke through resistance at $4,200 at the start of April, causing the crypto asset to rally nearly 100% to over $8,300, altcoins diverged, and hard. While Bitcoin rose, most altcoins fell significantly in their ratios relative to BTC.Related Reading | Experienced Altcoin Trader Outlines Expectations For Bitcoin and Alt Bull CyclesWhile Bitcoin has went on to set new yearly highs, altcoins continue to set new yearly lows in their BTC ratios. The total altcoin market cap drawdown has been 66.5% so far, according to experienced altcoin trader Nik Patel, who is the author of the book an Altcoin Trader’s Handbook.Couple of fun facts:– Of the previous 4 ALTBTC bear cycles, the average drawdown has been 69.7%. The current drawdown of this ALTBTC bear cycle is 66.5%.– The average growth experienced across the past 5 ALTBTC bull cycles was 617%.— Nik Patel (@cointradernik) May 14, 2019The trader says that during the four previous “ALTBTC bear cycles,” all have had an average drawdown of nearly 70% – a mere 3 and a half percentage points away from current levels. This could indicate that the selling pressure is almost exhausted, and that a new bull cycle could begin.If and when a bull cycle does come to fruition in the alt market, according to the altcoin trading professional, the average growth experienced has resulted in bringing investors as much as 617% gains. Such gains would bring the price of Ethereum to over $1,200 and near its previous all-time high, and the price of Ripple to $2.40 cents per XRP. Litecoin would be priced at well over $500 per LTC.Related Reading | Altcoin Trader: Alt Market Cap Shows Longest Accumulation Phase YetGains of such nature haven’t been witnessed in the crypto market since the start of 2018. After that, the market crashed and the longest bear market on record ensued. It’s only now that the early stages of a new bull market have started, with the first ever cryptocurrency Bitcoin leading the charge, that such growth in the market has started showing signs of life once again. If altcoins can rally similarly to Bitcoin from here, the crypto bull market will be back, and the price of cryptocurrencies could reach new all-time highs across the board.Featured image from Shutterstock
Ripple (XRP) investors have been discouraged as of late after watching Bitcoin and many other cryptocurrencies surge while XRP remained caught in a bout of sideways trading in the lower-$0.30 region.Today, however, XRP was finally able to break out of this seemingly indelible trading range and has now moved into the $0.40 region after surging over 20%.Ripple (XRP) Soars 20% To Fresh Year-To-Date HighsAt the time of writing Ripple (XRP) is trading up over 22% at its current price of $0.40, up significantly from its daily lows of $0.32.Prior to today’s surge, XRP was severely underperforming the aggregated crypto markets, as it remained caught in a tight trading range between $0.30 and $0.34 that proved to be a difficult range to break above in spite of the tailwinds created by Bitcoin’s upwards surge, which allowed many cryptos to post decent gains.Regardless of XRP’s lackluster performance over the past several months, the cryptocurrency incurred a massive influx of buying pressure yesterday that instantly led it to surge to fresh year-to-date highs in the lower-$0.40 region, where it has found some levels of resistance that have proven to be difficult to break above.XRP is currently the best performing major cryptocurrency and is surging at a time where many altcoins are drifting slightly lower as Bitcoin appears to be facing growing resistance in the $8,000 level.At the time of writing, Bitcoin Cash is trading down 2.3%, Litecoin is trading down 0.6%, and Ethereum is trading up just over 3%.Influx of Positive News Fuels XRP’s SurgeA recent influx of bullish news surrounding Ripple may have fanned the flamed that have fueled its recent upwards momentum.One recent piece of news that closely preceded the pump was Coinbase’s announcement that New York-based traders are now allowed to buy XRP on the exchange’s platform, which was seen as being a bullish development by many investors.“XRP (XRP) is now available to Coinbase users who are New York residents. New Yorkers can now log in to buy, sell, convert, send, receive, or store XRP on Coinbase.com or using our iOS and Android apps,” the exchange noted in a recent tweet.XRP (XRP) is now available to Coinbase users who are New York residents. New Yorkers can now log in to buy, sell, convert, send, receive, or store XRP on https://t.co/bCG11KMQ6s or using our iOS and Android apps.https://t.co/5VE1WklrWo pic.twitter.com/Zp5odgaoHs— Coinbase (@coinbase) May 13, 2019Moreover, this announcement also led some investors to believe that this was a sign of imminent institutional adoption due to Wall Street being located in New York, although this is highly speculative and there is no telling at this time as to whether or not these theories carry any clout.Presently, it remains unclear as to whether or not XRP will be able to gain a solid footing within the $0.40 region, or if this recent pump will be fleeting and a drop back into the lower-$0.30 is imminent.Featured image from Shutterstock.
By CCN: NFL teams are getting pressure to pay their players in bitcoin, but so far they haven’t budged. It’s unclear why they would push back against a policy that would not only slash costs for the organization but would give NFL players an opportunity to begin saving and growing their earnings before retirement.
Morgan Creek Digital Co-Founder and Partner Anthony Pompliano tweeted about NFL Quarterback Matt Barkley wanting to be paid in crypto, adding:
“Matt is just one of many bitcoiners that are playing in the NFL on Sundays.”
NFL Quarterback @MattBarkley tried to get the San Francisco 49ers and Cincinnati Bengals to each pay his contracts in Bitcoin.
Neither would do it.
Matt is just one of many Bitcoiners that are playing in the NFL on Sundays 🔥🔥
— Pomp 🌪 (@APompliano) May 14, 2019
While crypto Twitter didn’t hesitate to help the NFL quarterback become more engaged in the market, he let them know he was already a few steps ahead.
Already am mining https://t.co/Wgn8KVdLYA
— Matt Barkley (@MattBarkley) May 14, 2019
NFL Will Eventually Cave
The pressure on the NFL to pay its players in crypto is only getting hotter. NFL Player Russell Okung is among the “bitcoiners.” The Los Angeles Chargers Left Tackle made his request on Twitter, and he hasn’t stopped tweeting about it since.
Pay me in Bitcoin.
— Russell Okung (@RussellOkung) May 14, 2019
Okung went on to say, “How dope would it be to see an ESPN headline with an athlete being paid in BTC?” He also wanted to know where everyone traded their crypto. One follower recommended Bittrex, and it didn’t take long for the bitcoin exchange to respond:
“Hi Russell – great to connect with you! We’d love to introduce you to Bittrex. Feel free to reach out to us via DM.”
Crypto hardware wallet Trezor didn’t let the opportunity pass them by, either, saying:
“Hey Russell, you’re gonna need a secure place to store those bitcoins. DM us so we can hook you up.”
— Russell Okung (@RussellOkung) May 14, 2019
The NFL’s Value
Bitcoin is back in the limelight, with the price now barreling toward $10,000. NFL teams have lofty valuations that run into the billions of dollars. Take the Dallas Cowboys, whose value last year reached the $5 billion threshold, according to Forbes. They were the first team to pull off this feat even though the Cowboys haven’t played in a Superbowl in more than two decades. According to Forbes, Green Bay Packers Quarterback Aaron Rodgers was the highest paid player last year, fetching on-field compensation of more than $66 million plus about another $10 million in other income.
Okung also tweeted that he’s sharing the bitcoin gospel with his NFL peers so it won’t be long before the word spreads throughout the league. At this rate, bitcoin is bound to catch on like wildfire and NFL Commissioner Roger Goodell would be a fool not to comply.
Kevin O’Leary has stated that Bitcoin is “garbage” , a “digital game”, and ultimately, “worthless”. The Shark Tank investor attacked Bitcoin and the rest of the crypto industry largely based on the current volatility of digital assets.The successful entrepreneur states that because he was unable to buy property using the popular digital asset, it is completely useless. He complains that most people are not willing to take the risk to receive Bitcoin in exchange for goods and services because of the volatility but dismisses that anyone else might see worth in a decentralised, permissionless system of value transfer.Kevin O’Leary Doesn’t See Worth in Bitcoin Ergo It’s Garbage…In a rather typical attack on crypto assets and specifically Bitcoin, entrepreneur and TV personality Kevin O’Leary has appeared on CNBC’s “Squawk Box” segment to state that that current price volatility makes it a lousy currency and ultimately, “worthless” and “garbage”:“To me, it’s garbage, because you can’t get in ad out of it in large amounts.”He went on to state that he had recently failed to buy Swiss real estate with the digital asset because the seller would not accept the volatility that is associated with Bitcoin:“Let’s say you want to buy a piece of real estate for $10 million in Switzerland, they want a guarantee that the value comes back to the U.S. currency. You have to somehow hedge the risk of bitcoin. That means it’s not a real currency. That means the receiver is not willing to take the risk of the volatility it has. It’s worthless.”However, as is often the case with attacks on Bitcoin, those making them have not considered that they might not be part of the demographic best served by the financial technology. O’Leary is a successful entrepreneur living in the developed world. In terms of access to banking facilities, he’s probably in the top tenth of a percent of people on the planet.To him, the currency may not offer anything of worth. However, to state categorically that it is worthless because it does not help him to expand his property portfolio, for now at least, is incredibly disingenuous to those that may use the crypto asset as a store of value through necessity or because they simply cannot access traditional banking facilities.Being uncorrelated to any fiat currency or other asset class on the planet, cryptocurrencies like Bitcoin can be used to escape from national economies in a way not previously possible. In the history of fiat currency, there have been many examples of governments recklessly printing money to such a degree that the value of each unit of their national currency spirals downwards. Entire life savings can become worth next to nothing in just months.For citizens in countries where the national currency is devaluing rapidly, Bitcoin, even during the worst days of the recent bear market, often represented a better bet than the currencies of some of the national governments with most questionable economic policies. To these people, Bitcoin most certainly has worth and utility.In his blanket dismissal of the digital currency, O’Leary also neglects to consider the billions of people that do not have access to any banking facilities whatsoever but who can get online via smartphones. If Bitcoin allows a merchant in Africa to take part in the global economic system for the first time, who on earth is this guy to say it’s garbage? Related Reading: Warren Buffett Claims Bitcoin is Like a “Seashell” In His Latest Attack on CryptoFeatured Image from Shutterstock.
Cryptocurrency prime dealer SFOX is partnering with M.Y. Safra Bank of New York to offer traders and investors deposit accounts backed by the Federal Deposit Insurance Corp. (FDIC).
The partnership marks the first time FDIC insurance has surfaced in the crypto dealer model, according to an SFOX blog. The arrangement will enable traders direct access to their funds for “fast, global crypto trading.”
Up till now, the FDIC seems to have avoided the crypto space.
BREAKING: @SFox just announced segregated accounts that are FDIC-insured.
Government-backed insurance is a BIG step towards mass adoption for regular consumers.
THE VIRUS IS SPREADING 🔥
— Pomp 🌪 (@APompliano) May 14, 2019
Great for Crypto, Sort Of
The implications of this partnership are huge given the FDIC is the agency that protects bank customers from losses of up to $250,000 per financial institution.
However, there’s a sad note.
Bloomberg pointed out that the insurance covers the cash portion of a crypto transaction, not bitcoin, ether, or other digital assets SFOX users buy on the exchange.
No matter, this is still positive news for the space in which supporters continue to fight off critics about its legitimacy.
The Nitty Gritty
Approved SFOX users can access FDIC-insured accounts with M.Y. Safra Bank through SFOX’s platform. They will receive that same insurance of up to $250,000, subject to applicable limits.
In a medium post about the news, SFOX states the partnership is hoped to:
- reduce counterparty risk
- increase ease of access to emerging crypto markets
- enable investors to keep their funds in their own name with the bank.
SFOX pioneered the crypto prime dealer model in 2014 to reduce traders’ exchange counterparty risk while also giving them access to crypto assets from exchanges around the world. It does away with the hassle of opening and managing multiple trading accounts while still allowing traders to capitalize on global liquidity.
These results are needed for mass adoption because they’ve been among the factors that have kept potential crypto investors and traders at bay.
Mass Adoption Hinges on Security
Crypto mass adoption has hinged on security. SFOX charges that its model makes funds more secure. Also, the partnership will reduce the time required to make funds available for trading, making trading more efficient.
These are all issues that have delayed mass adoption.
The SFOX blog post states:
“These product features are especially transformative for funds and institutional investors, who will be better equipped to fulfill their custodial obligations while still being able to easily access their funds when they need to trade quickly.”
According to SFOX CEO Akbar Thobhani, M.Y. Safra’s Bank was attractive because of its track record of providing custom banking solutions to institutions.
Win for Crypto
As the news went viral, crypto players weighed in, for the good and the bad.
FDIC is a broke joke. Nothing but security theater. All FDIC insurance means is certified over exposure to risk.
— Heavily Armed Clown ⚡️ (@heavilyarmedc) May 14, 2019
Others saw the FDIC news as another catalyst for crypto.
How high will #Bitcoin go? Is $10k a possible target? Investors ditching stocks & #gold for $BTC, $XRP comes to @coinbase for NY, 30,000 retailers now accept #crypto via @FlexaHQ, #SFOX #FDIC protection, $VID, #CryptoNews, and more!
— K-DUB 【Crypto Zombie】 (@TheCryptoZombie) May 14, 2019
— Edge (@EdgeWallet) May 14, 2019
Bitcoin didn’t move higher on the news. It’s actually down by hundreds of dollars from its recent ascent to $8,100.