From a big bet on Bitcoin to the friendly competition between Ethereum and XRP, here’s a look at some of the stories breaking in the world of crypto.
A popular margin trader on the crypto exchange BitMEX says he’s taking a $4-million bet on Bitcoin.
The trader, known in the industry as Flood, tells his 72,800 followers on Twitter that he’s now long on BTC and took the multi million-dollar position when the leading crypto hit $8,105.
Your paid group leader is short looking for 7.4k with his last 0.1 BTC in fees. True chads are long and strong RIGHT NOW. pic.twitter.com/xRKDePMbGQ
— Flood [BitMEX] (@ThinkingUSD) November 20, 2019
In the long term, a former Wall Street trader and vice president at JP Morgan Chase, Tone Vays, says Bitcoin remains in a descending channel. He’s looking for BTC to move as low as $5,000.
Vays has been consistently bearish on the king coin throughout 2019 and says he’s looking forward to becoming a bull.
“At the moment, I’m still looking for $5,000, but not necessarily this year. We have about a month and a half to go, maybe even less. I am looking for that $5,000, more like January or February to finally, finally say I am no longer a bear.
You can say that that happened a year later than it should have. But the low a year ago was $3,000. If the secondary low comes in at $4,500 to $5,000, I’ll be ok with that. I’d rather be a year late at approximately the same price and I’m perfectly fine with that.”
Ripple, XRP and Ethereum
The CEO of the Malta-based crypto exchange CoinField says he’s a fan of both Ethereum and XRP.