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  • U.Today had the chance to talk to Sun to get his opinion on recent events in China and to chat about TRON’s partnership with Samsung. 
  • Sun was asked to comment on what the Chinese President Xi Jinping recently said in regards to blockchain tech. 
  • Part two of this interview will be published later today. If you want to read the full interview, click here. 

There are several individuals in the space who are fighting to bring about change and make the mainstream adoption of cryptocurrencies real.

Justin Sun is without a doubt one of these individuals who has a big role in this industry.

U.Today had the chance to talk to Sun to get his opinion on recent events in China and to chat about TRON’s intriguing partnership with Samsung. 

Here are some of the highlights.

In asking Sun on the partnership between TRON and Samsung, the interviewer asked how the two companies got together and why the mobile phone manufacturer chose TRON.

Sun replied saying:

“First of all, I believe that this partnership is big news for the crypto industry. Right now, TRX is the native currency embedded within Samsung phones after the S10 and S11. That’s why I believe it’s very significant considering Samsung’s large user base, in which billions of people around the globe use their products every day. This gives individuals the opportunity to store TRX as well as TRC10 and TRC20 tokens in their wallets. One can also use these currencies easily to interact with all the dApps built on the TRON and Samsung platforms. So that’s why I definitely believe this is a huge opportunity for our industry. With Samsung starting to integrate blockchain infrastructure into their phones, this will force other phone manufacturers such as Apple, Huawei, Oppo, Vivo, and Xiaomi to also integrate with blockchain manufacturers, giving consumers huge benefits with the mass adoption of blockchain technology.”

Sun was then asked to comment on what the Chinese President Xi Jinping recently said in regards to blockchain tech. 

“Right now, the Chinese Government is pushing very hard to embrace blockchain technologies and is encouraging all blockchain companies in China see such opportunities. With TRON being one of the largest blockchains originally developed by the Chinese, this will give us huge benefits to its development. As for the future work, we’re looking forward to cooperating with the Chinese Government, as well as with other Chinese publicly listed companies to explore blockchain opportunities. We are also planning to open more offices in mainland China as well.”

The rest of the highlights of this interview will be published later today. If you want to read the full interview, click here

Adrian Barkley , 2019-11-15 14:30:00 ,

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NewsBlock © 2019 - 2020 All rights reserved.

NewsBlock © 2019 - 2020. All rights reserved.

While Bitcoin’s price seemingly moves without rhyme or reason — collapsing by dozens of percent and embarking on face-melting rallies on a whim — the cryptocurrency market is filled to the brim with fractals.

Related Reading: Analyst: Bitcoin Price Likely to Fall to Low-$8,000s as Chart Remains Weak

A brief aside: A fractal, in the context of technical analysis and financial markets anyway, is when an asset’s price action is seen during a different time. This form of analysis isn’t that popular, but it has proven to be somewhat valuable in analyzing Bitcoin.

One recent fractal popularized by a well-known cryptocurrency trader is implying that BTC is going to return to the low-$7,000s in the coming days.

Bitcoin Fractal Implies Retracement to Low-$7,000s

A well-known crypto trader going by “Tyler Durden” on Twitter recently posted the chart below, which shows that a Bitcoin price fractal may be playing out. The fractal has four phases: horizontal consolidation marked by one fakeout, a surge above the consolidation phase, a distribution, then a strong drop to fresh lows.

If the fractal plays out in full, BTC could reach the low-$7,000s again, potentially as low as $7,100. This would represent a 20-odd percent collapse from the current price point of $8,800.

It isn’t only a fractal that is hinting Bitcoin has the potential to visit its lows. As we reported on Saturday, Bloomberg believes that if the GTI Vera Convergence Divergence Indicator flips red, a downtrend could push the cryptocurrency back to $7,300.

Related Reading: Stephen Colbert Pokes Fun at Bitcoin in Monologue: Mainstream Gone Wrong?

Can Bulls Step In?

But again, many believe it is irrational to have such bearish interpretations of the cryptocurrency’s chart at the moment. As reported by NewsBTC earlier, Popular crypto trader Mayne recently noted that the “people waiting for $6,000” are irrational. He quipped that Bitcoin retracing and consolidating after its fourth-biggest bull move in history ($7,300 to $10,500, a 42% gain) is perfectly par for the course, but noted that it’s totally possible we can go lower from $8,800.

The medium-term technicals support this.

Trader and CoinTelegraph contributor FilbFilb found that by the end of November or start of December, the 50-week and 100-week moving averages will see a “golden cross,” which he claims is far more significant” for the Bitcoin market that other technical crosses.

Also, a Bitcoin price model created using Facebook Prophet machine learning found that the leading cryptocurrency is likely to end the year at just over $12,000. What’s notable about this model is that it called the price drop to $8,000 months in advance, and forecasted a ~$7,500 price bottom for BTC.

To put a cherry on the cryptocurrency cake, Crypto Thies observed that when Bitcoin bottomed at $7,300, it bounced decisively off the 0.618 Fibonacci Retracement of the move from $3,000 to $14,000, which correlates with the two-week volume-weighted moving average. He added that summer 2019’s consolidation was marked by Bitcoin flipping major resistances into support levels, implying that a bullish reversal and subsequent continuation is likely possible in the coming weeks.

Featured Image from Shutterstock

Nick Chong , 2019-11-10 12:00:38

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