Ethereum Officially Launches 1 Million Developer Challenge

Coinspeaker Ethereum Officially Launches 1 Million Developer ChallengeThe Ethereum challenge is an open movement that is dedicated to growing the developer ecosystem. ConsenSys Jim Jagielski tweeted that they officially launched the 1 million developer effort.Join me as we "officially" kick off our #1milliondev effort, dedicated to growing the #Ethereum and #Web3 communities by 1 million developers and contributors. Let's leverage #opensource in this endeavor! c @ConsenSys https://t.co/Rs2whnS8z1— Jim Jagielski (@jimjag) January 20, 2020However, the way how the team plans to reach 1 million developers is quite simple. They will put it into the community’s hands. They believe it will happen through a collaborative effort. Everybody will make some kind of contribution even if it is just a share on Twitter. Also, they don’t have an estimated time when they could reach this number. Additionally, currently, you cannot specify the approximate number of developers working on the Ethereum platform. The website of the challenge once has said that there were about 500,000 developers back in October 2019 but recently the website has shown zero developers.Nevertheless, the new website of the 1 million developer challenge offers the lists of meetups, hackathons, conferences, and even job offers. The company explains that they want to make the largest blockchain community “on the planet”.Something for All Knowledge Level DevelopersAlso, for new developers who haven’t tinkered with Ethereum, they offer to explain the basic concepts of blockchain and Ethereum in Web 2.0 development. For those who know what Ethereum is and have a basic understanding of blockchain, they offer to jump right into the Ethereum ecosystem. They can try building and learn valuable experience by playing with the decentralization aspect of Ethereum. Moreover, they also have a program for experts, who know everything about Ethereum and Web 3.0. They can start contributing to the Ethereum ecosystem right away.“The killerness of the ecosystem is not the nodes, it’s the links. Every single application that gets built is not just an application in its own right, it’s also a component that every future thing in the Ethereum ecosystem can benefit from,” the founder of Ethereum, Vitalik Buterin, is cited on the website.Ultimately it’s like a large friendly Ethereum developer community that helps each other with lessons about the ecosystem. All together they build one united project which they all believe in. It could sound like a utopia for some, but some believe that that is the perfect way how to achieve goals. And these guys are already doing it.However, some experts say that the demand for real-world Ethereum blockchain applications might be declining. This could leave an opportunity to other rivals in this space to take over and possibly “dominate”. Because of this, the Ethereum team will start new efforts to market the project, which is moving closer to Ethereum 2.0.Currently, Ethereum price is around $168. And the coin’s market cap is $18,4 billion. Starting from January first, the price of ETH increased from $130 to where it currently sits. Ethereum Officially Launches 1 Million Developer Challenge

Ripple-Backed MoneyGram Partners with Lulu Exchange to Expand in Asian-Pacific Region

Coinspeaker Ripple-Backed MoneyGram Partners with Lulu Exchange to Expand in Asian-Pacific RegionRipple‘s partner MoneyGram, a leading payment provider, has continued to position itself among the leaders in cross-border crypto payments. After its major deal with Ripple for On-Demand Liquidity in 2019 worth $50 million, the company has now announced a new collaboration with Lulu Exchange.The exchange ranks among the most prominent crypto and non-banking finance providers in the United Arab Emirates region. Lulu has its headquarters in Abu Dhabi and operates more than 180 active branches.The new partnership aims to help Lulu’s mission to “digitize its money transfer business.” Additionally, the two parties will operate close together to create enhanced “consumer-centric capabilities.” The new development will support payments in both the Asian-Pacific and the Oman regions.In the new Lulu-MoneyGram deal, Lulu Money, which is a subsidiary of the exchange, will link MoneyGram APIs soon.MoneyGram Lulu IntegrationThe step is a significant move for the exchange will more than 200 branches globally. Moreover, it announced that its customer base is more than 5 million. The exchange also supports at least one million transactions yearly.In the case of MoneyGram, the move is strategic. Through the partnership, the company will grow its operations into Oman and the Asia Pacific regions. The chair of Lulu Group, Adeeb Ahmed, commented on this development:“This partnership will revolutionize how the region manages its high volume of remittances, launching unique services into the market, changing the way people approach digital transactions and remittances.”On the other hand, Alexander Holmes of MoneyGram acknowledged that Lulu Money had made a considerable push to digitize its money transfer business via the partnership. He added:“MoneyGram looks forward to working with them to create innovative products and services that extend our digital reach and bring financial inclusion to customers throughout the Asia-Pacific market.”Currently, MoneyGram uses On-Demand Liquidity in its daily operations. This operation method allows seamless fund transfer between Mexico, the U.S., and the Philippines in conjunction with several exchanges.But, considering the inclination of Ripple, their main aim is to develop capacity and ensure that they expand their presence. Furthermore, MoneyGram wants to support more corridors. In that context, with the Asia Pacific being a key focus in the medium to long term strategies.Brad Garlinghouse May Interact with President Trump and ECB Chair at DavosThere are unconfirmed talks speculated that Ripple Inc.’s CEO Brad Garlinghouse would hold two high profile meetings with Donald Trump and ECB Chair, Christine Lagarde, at the World Economic Forum (WEF) in Davos, Switzerland.With the conference scheduled to end on January 24, world leaders will converge to debate on a plethora of topics. The ECB chair previously made known her approval of cryptos. She did that during her tenure as the Managing Director of the International Monetary Fund (IMF).If Europe and the ECB adopt cryptos through the development and rollouts of CBDCs, the region will be ahead of the adoption curve.Ripple-Backed MoneyGram Partners with Lulu Exchange to Expand in Asian-Pacific Region

Ripple CEO Brad Garlinghouse Believes U.S. Will Welcome Company’s Payment Solutions

Coinspeaker Ripple CEO Brad Garlinghouse Believes U.S. Will Welcome Company’s Payment SolutionsRipple Labs is currently involved in a serious legal battle, as we have already reported. However, it doesn’t prevent the company from being rather positive about its future. And there are some grounds for it.The World Economic Forum 2020 kicked-off yesterday, January 21, in Davos, Switzerland. As expected, global leaders met during the first day of the event with the U.S. Treasury Secretary Steven Mnuchin speaking on the transformation of the payments industry.Muchin said that the U.S. Government is well aware of the new developments in the market. Besides, he also added that the government will welcome companies offering cross-border payment services for retail and business. The Treasury Secretary said:“There are benefits to cross-border payment systems in lowering costs for consumers and businesses. We absolutely support companies working on this.”Mnuchin’s words quickly resonated with some of the crypto industry experts and Ripple CEO Brad Garlinghouse was quick to jump on it. Thus, Garlinghouse retweeted Mnuchin’s statement showing optimism that Ripple can facilitate the demand of the payments [email protected] at #WEF20 when asked about cryptocurrencies: "There are benefits to cross-border payment systems in lowering costs for consumers and businesses. We absolutely support companies working on this." Critical to apply this pragmatism to US regulation. pic.twitter.com/93e84qQW1s— Brad Garlinghouse (@bgarlinghouse) January 21, 2020Note that blockchain startup Ripple has been working over the last few years to streamline the cross-border payments. Besides, the company has got different blockchain-based payment solutions under its belt. Ripple’s xCurrent solution leverages its blockchain to facilitate instant cross-border payments at a very low cost.Some of the big money-transfer companies like Western Union and MoneyGram have pledged to use Ripple’s blockchain solutions. Additionally, Ripple has another solution dubbed ODL which uses the cryptocurrency XRP for instant payment settlements.Note that Mnuchin has not mentioned Ripple explicitly during his address at the event. Rather, Garlinghouse is assuming that after Mnuchin’s statements, the U.S. government can accommodate Ripple for the country’s next payments revolution.Mncuhin only took the name of MoneyGram as an example. Off lately, several banking giants have also been working aggressively in adopting the next-generation payments technology and transforming its systems.Ripple Signs New Partners but a Long Road AheadLast year in 2019, Ripple had claimed that it has on-boarded 300 new partners to its platform. This includes some of the new banks and also some banking giants like the Spain-based Banco Santander.While Ripple continues to penetrate the payments market, the company has been under scrutiny. Ripple has been accused by a few XRP investors for not selling their XRP tokens as registered securities during its IPO 2013. The blockchain startup has been fighting these claims since long and is currently under regulatory observation.While things continue to function normally at the company, the XRP has also been a big disappointment for investors. While almost all of the top-ten cryptocurrencies saw their price surging during 2019’s partial market recovery, XRP gave negative returns.Over the last year, XRP price has crashed more than 20%. At press time, XRP is trading at $0.23 with a market cap of $10.3 billion. However, it still continues to be the third-largest cryptocurrency by market cap.Ripple CEO Brad Garlinghouse Believes U.S. Will Welcome Company’s Payment Solutions

Nick Szabo and Tony Hawk: First Bitcoin 2020 Speakers Announced

Bitcoin 2020 aims to unite and celebrate around the original cryptocurrency
San Francisco, CA — Returning for a second consecutive year, Bitcoin 2020, a two-day conference, will be held at SVN West in San Francisco from March 27 to 28, 2020. Bitcoin 2020 has announced its first two featured speakers: Legendary cryptographer and polymath Nick Szabo and skateboarding icon and Bitcoin enthusiast Tony Hawk. By assembling groundbreaking innovators who have directly shaped Bitcoin as well as contemporary thought leaders who drive the culture forward, Bitcoin 2020 aims to create the most positive and inclusive environment for accelerating the original cryptocurrency.
Bitcoin 2020 follows the blockbuster Bitcoin 2019 conference, which saw 2,000 Bitcoiners converge to celebrate 10 years of Bitcoin and to take an optimistic look at its future. The 2019 event program featured whistleblower and privacy advocate Edward Snowden, alongside notable early adopters like ShapeShift CEO Erik Voorhees and investor Tim Draper.
Nick Szabo is one of the most influential cypherpunks in the world. Szabo created “bit gold” which was a direct precursor to Bitcoin and provides the basis for what a blockchain looks like. He also developed the idea of “smart contracts” which have been a pillar of the cryptocurrency space ever since. Many have tried to tie Szabo to the pseudonymous Bitcoin creator Satoshi Nakamoto, though he denies any direct involvement in the creation of Bitcoin.
Tony Hawk made waves earlier in 2019 when he quipped on Twitter that he had “Been riding [Bitcoin] for 6 years. Haven’t bailed yet.” Hawk is a pioneer in leading countercultural movements, bringing competitive skateboarding, as well as skateboarding in general, to the mainstream. He famously landed a “900” for the first time in competition in San Francisco, just minutes away from where Bitcoin 2020 will be held. At Bitcoin 2020, Hawk will sit down for a fireside chat to discuss how he became interested in Bitcoin, as well as what fuels his continued support and belief in it.
This conference series was introduced with an overarching mission to “make Bitcoin fun again” by offering community connections, technical education and real-world Bitcoin implementations in a collaborative and festival-style atmosphere. To this end, Bitcoin 2020 will feature food trucks, a Lightning-powered video game arcade, a Bitcoin-inspired art gallery with artists in attendance and more.
“We had an incredibly successful 2019 conference, and it was clear that people wanted a place to come learn, talk about Bitcoin and build new relationships in the space,” David Bailey, CEO of conference owner BTC Inc, said. “This year, we hope to expand the conversation around Bitcoin even further, reexamine what it means to be a ‘Bitcoiner’ in 2020 and celebrate the individuality of the people who make up this incredible ecosystem. Most importantly, we need to keep working to make Bitcoin fun again!”
Bitcoin 2020 is open for registration to individuals from any sector, with ticket prices starting at $149. To register and for additional information, visit www.bitcoin2020conference.com.
About BTC Inc:
 Growing from Bitcoin Magazine as the first information provider in the nascent Bitcoin community into a leading voice of the blockchain and cryptocurrency industry, BTC Inc has been ever-present in supporting and evangelizing the decentralized future. Our products, services and media connect you to the open economy so you can start creating value without asking permission. We believe that Bitcoin and blockchain technology enable the internet of value — an open, permissionless ownerless network that will redefine humanity’s most essential financial systems and institutions. For more information, visit https://b.tc.
 
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Vodafone Joins Companies that Quit Facebook-Run Libra Association

Coinspeaker Vodafone Joins Companies that Quit Facebook-Run Libra AssociationBritish multinational telecommunications conglomerate Vodafone has quit Facebook‘s Libra Association. Both Vodafone and Libra have already confirmed the information.According to Vodafone, they will use resources intended for Libra to develop its digital payment service M-Pesa. M-Pesa enables customers to send, receive and store money securely via a basic smartphone. Used mostly in Africa, the service enables all businesses to collect payments, make stock purchases and pay salaries. Moreover, it helps governments to collect taxes and disburse social security payments.As Vodafone representatives explained, Vodafone quit Libra not as a result of regulatory concerns but in order to focus on M-Pesa. The company aims to expand it beyond the six African nations it currently serves.Vodafone spokesperson said:“Vodafone Group has decided to withdraw from the Libra Association. We have said from the outset that Vodafone’s desire is to make a genuine contribution to extending financial inclusion.”He added:“We remain fully committed to that goal and feel we can make the most contribution by focusing our efforts on [mobile payments platform] M-Pesa.”Further, Vodafone promised not to abandon the idea of future co-operation.Dante Disparte, head of policy and communications for the Libra Association, said:“Although the makeup of the Association members may change over time, the design of Libra’s governance and technology ensures the Libra payment system will remain resilient”.Vodafone has joined seven more companies that have withdrawn from the Libra project. In addition, Vodafone is the first company to quit the Association since October 2019 when it was officially founded. PayPal, Mastercard, Visa, Mercado Pago, eBay, Stripe, and Booking Holdings withdrew earlier. But in comparison with Vodafone, these companies made such a decision as a result of regulatory scrutiny.For example, Mastercard and Visa pulled out of the Libra project in October, citing ‘regulatory expectations’.Libra Association Ready to Welcome New MembersThe Libra Association is an independent not-for-profit organization. Its mission is to empower billions of people through the creation of a simple global currency and financial infrastructure. The association membership is made up of the validator nodes of the Libra network. Initially, these are global companies, social impact partners (SIPs), and academic institutions — the Libra Association’s Founding Members. Facebook played a key role in the creation of the Libra Association and the Libra Blockchain, therefore it maintains a leadership role.In 2020, the Association is planning to add new members. At the moment, there are about 1,500 companies on its waitlist. To join the Libra Association, a two-thirds majority of existing participants must agree to accept a new member.The launch of Libra currency is scheduled for the first half of this year. However, the date may shift as a result of skepticism from regulators.Vodafone Joins Companies that Quit Facebook-Run Libra Association

How Ripple News Publishing Affects Cryptocurrency Pricing

In the past years, the financial market was controlled by stocks, bonds, shares, and other valuable assets. Nowadays, the cryptocurrency market is gaining popularity in the entire financial community. Cryptocurrencies like Ripple have been launched to effect a significant change in how the industry works. Because of its volatility or price movement, many market players are interested in the level of profits they can obtain from their crypto investments.
However, you must understand that crypto prices, particularly that of Ripple, can change from time to time depending on some factors, and these may include the publication of crypto-related news.
Keep reading this article to learn more about how Ripple news publishing affects cryptocurrency pricing.
Ripple Cryptocurrency: What Is It?
Just like Bitcoin, Ripple, as a cryptocurrency, has an impressive performance in 2019 because of its partnerships with some of the largest banks around the world. For those who don’t know, Ripple, which is also known as XRP, refers to a crypto asset created to boost speed when it comes to cross-border payment transactions.
Although almost all cryptocurrencies provide investors with an opportunity to manage and regulate their assets, Ripple, on the other hand, is heading toward a different direction. It’s typically designed to improve how cross-border payment transaction works. This is one of the reasons why Ripple has become an attractive crypto asset in terms of moving considerable amounts of money to another person at a low cost and in the fastest time possible.
Because of this appealing attribute, Ripple is bound to replace international bank wires as the standard cross-border payment method. This potential, for instance, has gained the support of some industry experts and famous names in the investment industry. In other words, many investors aren’t hesitant to invest because they know that Ripple is backed-up by regulators and other vital sectors in the financial market.
Given these circumstances, Ripple may have a huge price potential over other crypto assets. Due to its overwhelming support and acceptance from the industry, many people, including the existing market players, expect Ripple’s price to obtain its optimum performance in the next couple of years. But, despite its strong price forecast, there are factors that may cause massive swings, and these include the publishing of ripple news. After all, with the advent of modern technology, spreading the news about cryptocurrency can be done online, where you can find millions of thousands of Internet users.
Ripple News: How It Can Affect The Cryptocurrency Pricing
When it comes to investing in crypto assets such as Ripple, their unexpected or sudden price movement can be one of the reasons why investors have an interest in it. With this feature, one will know how to determine how much profits or losses they may obtain over time. In short, the market of Ripple and other major cryptocurrencies are destined to be influenced by the latest events and occurrences across the globe. And since the publishing of news can impact the stability of the market, it can, no doubt, continue to affect the prices of any valuable assets available.
Here’s how XRP news can specifically affect the pricing of crypto assets today:
Influence The Mindset And Sentiments Of The Investors
Primarily, Ripple news and other related events have something to do with the changes in cryptocurrency pricing. The stories you see on the news can shape an investor’s mindset, especially in terms of having a crypto investment. These can also influence the way you make decisions about handling and investing Ripple and other digital currencies.
For example, an XRP news announcing the launching of stricter cryptocurrency regulations has an effect on whether to continue using the Ripple or not. For those people who are afraid of incurring losses over time because of a sudden price crash, they’ll more likely resort to selling off their Ripple assets before it’ll become too late. This is the result of panic and loss of confidence by the investors to the future of Ripple in the market. And due to these massive selloffs, the prices of these digital currencies will go down, and the entire price performance will get affected.
Therefore, if you want to earn more profits that incur losses, it’s best to be updated with the latest crypto news published on different platforms from time to time. For instance, the CoinFi News aggregator tracked 69 news stories on XRP over the past 7 days. You can use the website to get more up-to-date information about Ripple and other digital currencies
Help Come Up With A Good Profit/Investment Strategy
However, XRP news publishing also has a positive impact on crypto pricing. When users hear good stories about the cryptocurrency market, such as the increasing acceptance of Ripple and other assets in various sectors of the industry, they’ll be more likely to buy more of them for their investment efforts and eventually sell them at a higher price. Meaning, it’ll serve as a profit strategy, especially for those who are aiming for substantial returns on investments in the long run. And because of the increasing demand of Ripple in the market, its price will start to increase.
For example, you can use the XRP news to come up with a solid investment strategy. The latest information and updates will guide you in making informed investment decisions. The more you’re aware of what’s happening in the crypto market, the more you’ll know when will be the perfect timing to sell or buy Ripple and other assets.
Final Thoughts
With the information presented above, one thing is for sure, and that’s the news about cryptocurrencies can significantly affect their pricing and, more importantly, their future in the financial community. For that reason, make sure you exercise due diligence in investing in Ripple and other currencies by watching out for news updates regularly.
Remember, the information you can get from the news publishing can help you decide whether using cryptocurrencies is still the best way to go when it comes to your monetary needs.
 
Image: Shutterstock
 
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Cardano (ADA) Price Analysis: Rally Could Accelerate Above $0.05

ADA price is trading in a solid uptrend above the $0.0430 support resistance against the US Dollar.
The price is likely to accelerate gains above the $0.0500 resistance in the near term.
There is a major ascending channel forming with support near $0.0435 on the 4-hours chart (data feed via Kraken).
The price could surge towards $0.0550 and $0.0650 if it settles above the $0.0500 resistance area.

Cardano price is showing a lot of positive signs against the US Dollar, similar to bitcoin. ADA price remains well supported and it seems like the bulls are eyeing a break above $0.0500.
Cardano Price Analysis
In the past few days, cardano price followed a nice bullish path above the $0.0400 level against the US Dollar. The ADA/USD pair broke the key $0.0432 resistance level to move into a positive zone.
Furthermore, there was a close above the $0.0450 level and the 55 simple moving average (4-hours). The price traded to a new 2020 high at $0.0468 and it is currently consolidating gains.
An initial support is near the $0.0450 level. Besides, the 50% Fibonacci retracement level of the recent wave from the $0.0413 low to $0.0468 high is also near the $0.0440 level to provide support.
The next major support is near the $0.0435 level. More importantly, there is a major ascending channel forming with support near $0.0435 on the 4-hours chart. The channel support coincides with the 61.8% Fibonacci retracement level of the recent wave from the $0.0413 low to $0.0468 high.
Finally, the 55 simple moving average (4-hours) is positioned near the $0.0420 level. If there is a downside break below the trend line and the $0.0420 support, there could be a sharp decline.
In the mentioned bearish case, the price could even hit the $0.0400 support. Conversely, the price is likely to continue higher above the $0.0450 and $0.0465 resistance levels.
The next key resistance is near the $0.0500 level, above which the price is likely to accelerate higher. The next key target on the upside could be $0.0650.
Cardano Price
The chart indicates that ADA price is trading with a positive bias above the $0.0432 and $0.0420 support levels. In the short term, there could be a downside correction, but the price is likely to continue higher above $0.0500 in the near term.
Technical Indicators
4 hours MACD – The MACD for ADA/USD is slowly losing momentum in the bullish zone.
4 hours RSI – The RSI for ADA/USD is currently well above the 50 level.
Key Support Levels – $0.0450 and $0.0432.
Key Resistance Levels – $0.0465 and $0.0500.
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Bank of England and Five Other Central Banks to Assess Benefits of CBDC

Coinspeaker Bank of England and Five Other Central Banks to Assess Benefits of CBDCIt has become known that United Kingdom premier Boris Johnson’s government has lost its first parliamentary votes since the snap general election because the House of Lords applied three defeats over Brexit legislation.The upper chamber voted in favor of giving physical documents as proof of their right to stay to EU citizens who live in the UK to be, once the country has left the bloc. On January 17, European Parliament Brexit coordinator Guy Verhofstadt said that the country will not automatically deport European Union citizens.He added that there will be “a grace period” but even if they fail to sign up for staying in the country, there still won’t be automatic deportation. “After the grace period they will have a possibility to apply, giving the grounds why it was not possible to do it within the normal procedures,” said Verhofstadt while Prime Minister Boris Johnson confirmed.The European Parliament will vote on the Brexit deal between the European Union and the United Kingdom on January 29, two days before the Brexit deadline date.Bank of England and CBDCBe it as it may, it is not the only reason to speak about the UK these days. Bank of England has also made headlines as it united forces with five other major world central banks to investigate what a central bank digital currency (CBDC) can bring to society.The other five banks are the Bank of Canada, the Bank of Japan, the European Central Bank, the Sveriges Riksbank, the Swiss National Bank, and the Bank for International Settlements (BIS).If a CBDC  seems to be workable, cryptocurrencies could be at the command of one of the biggest institutions in the world.As per the official announcement, the central bank collective will “assess CBDC use cases, economic, functional and technical design choices, including cross-border interoperability, and the sharing of knowledge on emerging technologies.”The Bank of England has joined into the trust together with five of the world’s biggest central banks to investigate the economic opportunities of a central bank digital currency (CBDC).Also, the bank wrote that:“The banking cooperative also plans to coordinate with global regulators, such as the financial stability board, as well as the committee on Payments and Market Infrastructures (CPMI).”Are Central Bank Digital Currencies Imminent?The traditional financial institutions were pretty skeptic when we’re talking about CBDCs. Especially the problem was when Facebook was starting to mention the probability of its own cryptocurrency Libra.Danny Scott, CEO of British Bitcoin exchange CoinCorner, says that the whole Libra story came as “no surprise”.He said:“The central banks are looking into the possibility of issuing their own digital currencies. The announcement of Facebook’s Libra cryptocurrency last year highlighted the potential threat of a global digital currency in control of the wrong people. It was only a matter of time before the banks took action.”Scott also said that this isn’t his first time he sees the banking sector exploring blockchain technology.“In 2014, we saw the creation of R3, a group of financial companies including big names like HSBC, J.P. Morgan and Bank of America which looked at the potential uses of blockchain technology in the traditional banking industry,” noted he.Bank of England and Five Other Central Banks to Assess Benefits of CBDC

Bitcoin Price Analysis: BTC Holding Crucial Uptrend Support

Bitcoin price started a downside correction after it almost touched $9,200 against the US Dollar.
The price declined below $9,000, but the $8,460 area acted as a strong support.
There is a major bullish trend line forming with support near $8,560 on the 4-hours chart of the BTC/USD pair (data feed from Coinbase).
The pair is likely to climb higher again unless it breaks the $8,560 and $8,460 support levels.

Bitcoin price is trading nicely above key uptrend supports against the US Dollar. BTC is likely to accelerate above $9,000 as long as it is above the $8,460 support.
Bitcoin Price Analysis
In the past few days, bitcoin price remained in a strong uptrend above $8,000 and $8,500 against the US Dollar. BTC even surpassed the $9,000 level and traded to a new 2020 high at $9,195.
Recently, there was a downside correction below the $9,000 level. The price even traded below the $8,850 support area. However, the decline was protected by the $8,500 and $8,460 support levels.
Besides, the 55 simple moving average (4-hours) also prevented a close below the $8,500 level. A low is formed near $8,466 and the price is currently recovering. It broke the 23.6% Fib retracement level of the recent correction from the $9,195 high to $8,466 low.
On the upside, the first key resistance is near the $8,810 level. It coincides with the 50% Fib retracement level of the recent correction from the $9,195 high to $8,466 low.
If there is a clear break above the $8,800 and $8,810 levels, bitcoin price is likely to continue higher above $9,000 and $9,050. The next major resistance is near the $9,195 and $9,200 levels, followed by $9,280.
If there is a successful close above $9,300, the price could continue to rise in the near term. On the downside, there many supports for bitcoin near the $8,560 and $8,500 levels.
Besides, there is a major bullish trend line forming with support near $8,560 on the 4-hours chart of the BTC/USD pair. If the price fails to stay above the trend line support, $8,560 and $8,460, there is a risk of a larger decline in the coming sessions.
Bitcoin Price
Looking at the chart, bitcoin price is clearly trading above key uptrend supports near $8,560 and $8,460. As long as there is no close below $8,460, the price is likely to rise steadily above $9,000 and $9,050.
Technical indicators
4 hour MACD – The MACD is currently moving into the bullish zone.
4 hour RSI (Relative Strength Index) – The RSI is currently just above the 50 level.
Key Support Levels – $8,560 and $8,460.
Key Resistance Levels – $8,810, $9,000 and $9,200.
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Binance Announces WazirX IEO on Its Launchpad

Coinspeaker Binance Announces WazirX IEO on Its LaunchpadTuesday, January 21, Binance announces their next project on Binance Launchpad, it’s WazirX. Yes, that is the same they acquired back in November 2019. WazirX is an Indian based cryptocurrency exchange with a native token – WRX. As usual, this IEO takes place in a lottery format where Binance record user Binance Coin (BNB) balances in a specific time period. The exchange will record their user BNB balances for 30 days. To be honest, the lottery is already happening in full swing because Binance started recording them on January 4th. The balance recording will continue till February 3. Binance explains that they determine the average BNB holding amount for each user from the 30-day average, which they previously announced in 2019. In short: “Total Daily Average BNB Balance = Daily Average Spot Account Balance + Daily Average Margin Account Balance + Daily Average Sub-accounts Balance + Daily Average Binance Lending Account Balance + Daily Average Binance Futures Account Balance+ Daily Average Binance Fiat Account Balance.”So, basically, Binance will count any kind of BNB you have in your Binance account.About the WRX Token SaleThe total WRX token supply is 1 billion WRX’s, and WazirX allocates 10% or 100,000,000 to Binance Launchpad. The price of one WRX token will be $0.02. There will be a total of 10,000 winning lottery tickets. WRX will be issued as a BEP2 asset on Binance Chain.The exchange explains that users will be able to claim up to 10 lottery tickets max. They also remind that in order to participate in the IEO, users need to have a complete account verification. Also, they must be from an eligible jurisdiction.Coinspeaker has already reported that last year around November, the company started exploring India grounds for its expansion. Binance purchased WazirX, a Mumbai-based crypto exchange. Rumors say that the deal was worth between $5 million and $10 million. Unlike others who flee the country because of the strict government regulations and attitude against cryptocurrencies, Binance once again proves that they’re aiming high by entering the Indian market. “The young demographic in India gives an edge to adapt and build on new financial technologies, and I believe this will play a vital role in making India a global blockchain innovation center to also spur cryptocurrency adoption throughout the larger public in the country,” commented Binance CEO Changpeng Zhao. Binance Announces WazirX IEO on Its Launchpad