From a potential seismic shift in the price of Bitcoin to the debate on whether XRP is a security, here’s a look at some of the stories breaking in the world of crypto.
A technical gauge is pointing to an imminent and significant shift in the price of Bitcoin.
The GTI VERA Bands Indicator shows Bitcoin may be on the brink of a big move, according to Bloomberg. Whether the move is above or below BTC’s key level of $4,000 remains to be seen.
Travis Kling, the founder of crypto hedge fund Ikigai, says he doubts Bitcoin has found its bottom.
“It’s unlikely that the bottom is in for Bitcoin. I am certainly willing to change my mind, but the preponderance of evidence leads us to believe that we’ll see more lows before we head higher.”
CoinGecko has created a countdown clock for the imminent Ethereum upgrade Constantinople.
The system-wide overhaul, designed to optimize network efficiency and change Ethereum’s miner rewards policy, is set for launch in about six days.
Ripple and XRP
EToro senior market analyst Mati Greenspan says he does not believe XRP should be classified as a security.
“XRP is not a security, in my personal opinion. My best understanding is XRP is logically a utility token. The SEC may see things differently.”
Ripple is facing a few class action lawsuits accusing the company of violating state and federal securities laws by selling XRP as an unregistered security.
As reported by Crypto Briefing, Greenspan says he remains bullish on XRP in the long run.