Experiments with the Crypto Industry Obviously Have Two Ways ... 50/50 (Investment Digest, Oct 25—31)

Warren Buffett invests $600M, Coinbase is worth $8B, StarkWare acquires $30M, USD issues over $125M in investments, NXMH obtains Bitstamp, Algorand receives $62M, Thailand alerts against investments in ICOs, Ripple confirms the institutional investments growing, Kevin O’Leary invests $100M, Nouvive provides an investment observation, OK Blockchain Capital conducts an Investment Sentiment Survey, Steve Wozniak discusses his BTC investment

  • Berkshire Hathaway, with Warren Buffett as CEO, invested a total of $600 million in two fintech firms: $300 million in Paytm and another $300 million in StoneCo. This investment might be a signal that the company with the 10th largest revenue is set to enter the cryptocurrency space.
  • Coinbase concluded its Series E funding round and secured $300 million. The exchange is now worth $8 billion. Andreessen Horowitz, Polychain Capital, Wellington Management, and Y Combinator Continuity are among those who participated in the equity funding. The round was led by Tiger Global Management.
  • StarkWare, an Israeli startup, acquired $30 million in investment. Paradigm was the lead the round. Intel Capital, Coinbase Venture, Sequoia are some of those who participated. Aside from the $30 million raised, Ethereum Foundation, Bitmain, Arthur Breitman of Tezos, and other firms have given the startup a grant totaling $6.7 million. StarkWare is the creator of zk-STARKS.
  • After the USDC’s September release, almost $127.4 million of the stablecoin is in circulation. The USD-pegged coin is backed by juggernauts in both the cryptocurrency industry and that of traditional finance. The said companies are Circle, Coinbase, and Goldman Sachs.
  • NXMH, a Belgian investment firm, obtained cryptocurrency exchange platform Bitstamp for an undisclosed amount. The investment firm acquired an 80% stake. Pantera Capital maintains its 6% stake in Bitstamp.
  • Algorand gets a total of $62 million of investments. The funds will be used to launch Algorand’s own blockchain. In addition to the investments, the tech company welcomed new CEO Steve Kokinos and COO Sean Ford.
  • According to Bangkok Post, Thailand’s Securities and Exchange Commission alerts citizens against investing in nine uncertified ICOs and tokens. The nine are Adventure hostel Bangkok ICO, Kidstocurrency ICO, Singhcom Enterprise ICO, G2S Expert ICO, Every Coin, OneCoin and OFC Coin, Orientum Coin, Tripxchain Coin, and TUC Coin.
  • Ripple published its report for the 3rd quarter. Some of the information in the report reveals the payments company has sold $163 million XRP and 3 billion of its tokens were discharged from an escrow account. 400 million of the released XRP will be used for network support. According to Ripple CEO, institutional investors are also buying XRP.
  • A Shark Tank episode featured the Bundil app. It is an app that allows users to put in small amounts of money in cryptocurrency. Kevin O’Leary invests $100,000 in the startup for 50% ownership.
  • Nouvive’s technical analysis of the market suggests that BTC is a hold, ETH is a sell, and buy digital assets within the top 200, not just the top 20.
  • OK Blockchain Capital conducted a survey called Investment Sentiment Survey. The report stated that close to 50% of respondents suffered losses in the September cryptocurrency market.
  • Steve Wozniak called own BTC investment an experiment. In his Interview on Crypto Trader, Wozniak said his aim was not to come out on top of the speculative market but to experiment with the crypto industry, without watching the price.
  • Over the counter crypto markets are bracing themselves for the entry of institutional investors.  The current market is in need of a better technological infrastructure and liquidity to accomplish big buy or sell orders. Hence, OTC markets are instrumental in accomplishing trades involving large amounts.

BTC

8,744 USD
0.38%

ETH

272.72 USD
-0.09%

XRP

0.4543 USD
1.98%

USCOIN

2.08 USD
-0.07%

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Bitcoin And Crypto Market Cap Facing Hurdles: BCH, Litecoin, TRX, XLM Analysis

The total crypto market cap corrected a few points, but it faced a strong resistance near $215.0B. Bitcoin price is also correcting higher, but it is likely to struggle to clear the $8,200 resistance. Litecoin (LTC) price is now facing resistance near the $55.50 and $56.50 levels. BCH price is holding the main $215 support area and it is currently rebounding. Tron (TRX) price is climbing higher and it is now placed nicely above the $0.0150 level. Stellar (XLM) price is up more than 2% and it is moving towards the $0.0650 resistance. The crypto market cap and bitcoin (BTC) are facing many hurdles on the upside. Ethereum (ETH), litecoin (LTC), ripple, BCH, tron (TRX), stellar (XLM) and other altcoins could struggle to climb higher. Bitcoin Cash Price Analysis BCH price corrected lower recently and tested the $215 support area against the US Dollar. The price is currently moving higher and is trading near the $220 level. On the upside, there is a major resistance near the $230 level, above which the price could recover towards the $240 level in the near term. On the downside, if there is a bearish break below the $215 support, the price could decline towards the $205 and $200 support levels. Litecoin (LTC), Tron (TRX) and Stellar (XLM) Price Analysis Litecoin price managed to stay above the $51.50 and $50.00 support levels. LTC price is currently recovering and is trading above the $54.00 level. However, there are a few key hurdles near the $55.50 and $56.00 levels, above which the price could revisit the main $60.00 resistance area. Tron price declined recently and tested the $0.0145 support area. TRX price remained well bid and recently started a nice upward move above the $0.0150 resistance area. The price is up more than 3% and it could continue to rise towards the $0.0155 resistance level in the near term. Stellar price also declined recently and tested the $0.0600 support area. XLM price is now climbing higher and is trading above the $0.0625 resistance area. However, there is a major resistance near $0.0650, above which the price could continue to rise towards $0.0682 and $0.0695. Looking at the total cryptocurrency market cap 4-hours chart, there was a decent recovery from the $205.0B support area. However, the market cap struggled to clear a key resistance near the $215.0B level and the 100 SMA. Moreover, there is a connecting bearish trend line forming with resistance near $215.0B. Therefore, a clear break above the $215.0B resistance is needed for a nice rally in bitcoin, Ethereum, EOS, litecoin, ripple, XLM, BCH, BNB, TRX, ADA, XMR, and other altcoins in the coming sessions. Bitcoin And Crypto Market Cap Facing Hurdles: BCH, Litecoin, TRX, XLM Analysis was last modified: October 18th, 2019 by Aayush JindalThe post Bitcoin And Crypto Market Cap Facing Hurdles: BCH, Litecoin, TRX, XLM Analysis appeared first on NewsBTC.
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