Analyst: Here’s Where Bitcoin Is Heading in Early 2020 – BTC, Ripple, XRP, Litecoin Updates
From a new forecast on Bitcoin’s potential in early 2020 to Ripple’s plans to expand in South America, here’s a look at some of the stories breaking in the world of crypto.
Veteran trader and former risk analyst at Bear Stearns, Tone Vays, says he thinks Bitcoin is likely to post another low in early 2020.
Vays tells BlockTV that he thinks BTC could sink as low as $5,000. Despite his prediction, Vays says he’s ready to finally become a long-term Bitcoin bull if and when the leading cryptocurrency breaks $10,000.
“We could have a little bit of a rally into the close [of 2019]. But I’m not really expecting anything above $8,000 anytime soon, to be honest with you. I’m looking for the next low to come in in the first quarter of 2020. I think the high probability of that low coming in around $5,000 sounds reasonable to me. So something below $6,000.
It doesn’t have to happen. We got the pullback that we needed. If I see good enough strength – the moment I see Bitcoin rally above $10,000, I will be a bull for the next several years. But I think that going above $10,000 is going to be a struggle for the majority of next year.”
Ripple and XRP
Two new job openings at Ripple are shedding more light on the company’s expansion plans.
The San Francisco payments company is looking to add a manager of business development and a senior integration engineer at its office in São Paulo.
• Senior Integration Engineer – São Paulo
• Manager, Business Development – São Paulo
Ripple is gearing up to announce new banking partnerships in Brazil early next year, according to a new report. The company is also talking with regulators in the country about the use of XRP in cross-border payments.
The crypto asset manager Grayscale has released an in-depth report covering the history and current state of Litecoin.
It breaks down the coin’s defining characteristics and differences with the leading cryptocurrency, Bitcoin, including LTC’s faster transaction speeds, lower transaction fees, and low barrier to entry for miners.
“As a result of these advantages, Litecoin may be better suited to service specific market segments, such as the commercial payments industry, in ways that are nuanced but more efficient than Bitcoin. Given Litecoin’s ability to process transactions in a faster, cheaper, and more accessible manner, it may be able to target entities with high transaction volumes, including exchanges and merchants.”
The report also analyzes Litecoin’s potential disadvantages, including regulatory uncertainty and its “relatively low rate of adoption” compared to Bitcoin.
— Grayscale (@GrayscaleInvest) December 27, 2019