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Bitcoin’s $2,200 correction could prove to be a swing trade buy, claims old-school trader

Namrata Shukla



Source: Pixabay

Volatility in the cryptocurrency market has caused the crypto-charts to appear red and green with constant bull and bear runs. The world’s largest cryptocurrency, Bitcoin [BTC] was among the major coins involved in this continuous market turbulence.

Peter Brandt, an old-school trader had been predicting the market movement throughout this month and this time, has said that BTC entered the buy zone recently. He tweeted,

“$BTC reacts into buy zone overnight.”

Source: Twitter

Source: Twitter

Brandt further predicted a correction of $2,200. He said:

“$2,200 correction should prove to be swing trade buy.”

Source: Twitter

Source: Twitter

However, Twitter users argued whether the correction had already occurred in the market. @Crypt0_kenny noted that BTC ‘already did a $2,200 correction’ and that ‘it was just a swing trade for the big boys’.

Another Twitter user, @scarn2001 said:

“No it hasn’t done a $2,200 correction yet..a $2,200 correction will put bitcoin at $6,200”

Recently, Amazon filed a patent involving proof-of-work that supports Bitcoin [BTC] and other cryptocurrencies, which spread like a wild fire in the crypto-community.

Bitcoin [BTC] managed to cross major resistance levels from $4k and now, is preparing to breach $8k. The coin, at press time, was valued at $7,357.03, with a market cap of $24.03 billion. Over the past seven days, BTC noted a growth of 7.63% and continued to grow by 2.28%. At press time, the coin had spiked by 0.58% in an hour.

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Namrata is a full-time journalist and is interested in covering everything under the sun, with a special focus on the crypto market.


XRP TipBot comes back online after a tiny downtime; Nothing to be worried about, says Wietse Wind




XRP TipBot goes online after a tiny downtime
Source: Unsplash

XRP TipBot’s website and the corresponding application suffered a downtime on June 23, 2019 for a few hours, during which the application wasn’t showing the balance of users. The website and the API for TipBot instead, displayed a “500 Internal Error.”

A Twitter user, @BlueNETGaming, tweeted Wietse Wind, inquiring the same. Wind confirmed that it was just an “infrastructure blip,” and that there was nothing to be worried about.

Wind tweeted,

XRP TipBot is probably the first and most widely accepted use-case of XRP. It leverages the transaction settling time of XRP Ledger to make tipping easy among peers on Twitter, Reddit, and other platforms, and this was the brainchild of developer Wietse Wind.

After TipBot, a lot of other cryptocurrencies have tried to mimic this idea of facilitating tipping; an example being Bitcoin’s, Tippin.Me which leveraged Lightning Network for tipping users. Although successful, it isn’t as popular as Wind’s TipBot.

The reason behind the same is that XRP Ledger allows transaction settlement in under 5 seconds, which makes tipping fast and efficient, unlike Bitcoin’s transactions which take a few minutes for transactions to be confirmed.

This is same reason why XRP is being used as a liquidity provider for cross-border payments in Ripple’s proprietary product, xRapid.

XRP community is a tightly-knit community with people who are very bullish about XRP’s success. There are equally talented developers in the community who are developing apps that help create more use-cases for XRP.

SchlaubiDev is one such developer known for developing plugins for Gmail and Microsoft Office, plugins that allow a user to send XRP over e-mails.

Ripple has identified Wind and his team’s talent and inducted them into Xpring, which finances them to help develop more community-based apps for increasing XRP use-cases.

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