Bitcoin Dump Cycle Looming, Warns Crypto Analyst – BTC, Ethereum, XRP, Ripple, Cardano Newsflash

 

From a bearish Bitcoin prediction to new adoption for XRP, here’s a look at some of the stories breaking in the world of crypto.

Bitcoin

A popular crypto analyst says Bitcoin is likely on the verge of another major breakdown.

The analyst, known in the industry as Rampage, tells his 31,000 followers on Twitter that BTC appears to be caught in a cycle that’s happened a couple of times in the past.

“Bitcoin is a repeating history lesson immediately forgotten by pumps. Dump cycles matter.”

The pattern begins with a parabolic rally. Soon after, BTC retreats and enters a period of consolidation. Then, a second rally to a lower high begins, followed by a long-term collapse and bear market.

If the analyst is right, BTC could be trending toward $6,000.

“Can’t find one single bullish argument on any of the time frames for BTC. We’re getting a dead cat in my opinion and at this stage next area of interest for longs is $6,000. Net short and chill holiday gang.

Ethereum

In a new interview with The Block, Tom Jessop, president of Fidelity Digital Assets, says the investment giant will support Ethereum in 2020.

“We’ve done a lot of work on Ethereum. We intend to support it in the New Year. We’re very led by our clients.

And again, coming back to the fact that we’re speaking to a lot of traditional institutions, Bitcoin is sort of like the gateway product, right? It’s the thing that’s got perhaps the longest track record, the most observable data points across multiple exchanges around price activity.”

Fidelity Digital Assets officially rolled out its Bitcoin custody platform for institutional investors in October of this year.

Ripple and XRP

Ripple is spreading the word on Twitter about new adoption for the digital asset XRP.

Salt Lending now supports XRP for clients who want to use their digital assets as collateral to secure a USD loan.

“We’ve added

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