From Bitcoin’s short-term trajectory to a potential boost for Litecoin, here’s a look at some of the stories breaking in the world of crypto.
Veteran stockbroker, gold proponent and crypto critic Peter Schiff says Bitcoin investors should get ready for a major pullback.
In a series of tweets, Schiff says anyone who thinks BTC can hit $100,000 is a dreamer. The 56-year-old says, in the long run, he has a “much better chance of being around in 2063 than Bitcoin does.”
It looks like the #Bitcoin pump is finally over. Get ready for the dump!
— Peter Schiff (@PeterSchiff) November 8, 2019
The influential commentator, who has over 170,000 followers on Twitter, has a history of bearish Bitcoin predictions that have rarely come to pass.
Last month, Schiff said he expected Bitcoin to sink to as low as $2,000 in the short term. Soon after that prediction, the price of BTC rose more than 40% in one of its biggest daily gains on record.
And in September, when the leading cryptocurrency dipped to around $7,000, he predicted Bitcoin’s “rapid descent” to $4,000.
Meanwhile, crypto analyst Nicholas Merten says BTC’s weekly chart doesn’t look so hot, but he’s not drawing any conclusions yet.
“I don’t like what the weekly chart looks like, but it could change on a dime here. This could turn into a green candle. I’m just simply waiting for at least two-thirds of my indicators to show up.
The stochastic RSI would technically be bullish here, but I don’t like how it’s not going absolutely vertical as we tend to see when it enters the neutral zone. And along with that, the divergence is closing on the MACD. We are still far away from a cross and the squeeze momentum indicator still hasn’t had a higher week. So I’m not getting eager on this. I’m not confident that we’ve hit full trend reversal.”
Ripple and XRP
Ripple is reportedly partnering with the National University of Singapore’s School of Computing to launch a fintech lab for industry veterans and students.
The lab is part of Ripple’s University Blockchain Research Initiative (UBRI) program, reports The Business Times.
“It aims to expose 1,000 students and industry professionals to fintech within a year, through courses and programmes that will be open to all NUS faculty and students as well as all levels of industry professionals.”
Open enrollment at the lab starts on November 26th.
The CEO of the crypto payment merchant Aliant says Litecoin payments could be coming to additional professional sports teams.
Eric Brown dropped the hint at the 2019 Litecoin Summit in Las Vegas.
LTC was named the official cryptocurrency of the Miami Dolphins in July. Through Aliant, fans can buy raffle tickets using LTC and BTC.
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 loses 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.