It’s a rare thing to predict any market, much less the cryptocurrency one. So, on episode 86 of the Wild West Crypto Show, hosts Drew Taylor and Brent Bates wonder aloud: “Was it just coincidence that Bo Polny’s forecast for cryptos held true?”
Polny, president of Gold 2020 Forecast LLC, is well-known in the gold and silver industry as a successful market analyst. His heads-up that “cryptos would start running up” before Thanksgiving showed why. On Black Friday, bitcoin surged to $7,760 from a low of $6,908.64 just five days earlier. It would have been a happy Thanksgiving for those who got into the crypto space, said the famous forecaster, who bases his predictions on the cyclical nature of markets.
After their ruminations, Taylor and Bates welcomed David Gold from the Foundation for Interwallet Operability (FIO) as the first guest on the show. Gold took the opportunity to explain the goal of his nonprofit organization. Cryptocurrencies may make good stores of value, he said, but paying with them can be an exhausting experience. Lack of interoperability between wallets is a major impediment to integrating cryptocurrencies into the payment system.
Consequently, FIO is developing technology that will allow crypto wallets to talk to each other. The FIO protocol, says Gold, is to cryptocurrencies what HTTP is to the internet. FIO is a decentralized, open-source, blockchain protocol that enables users to send and receive tokens from any FIO-enabled wallet. Participation in the protocol is open to all wallets and exchanges and currently includes Shapeshift, KeepKey, Coinomi, BRD, Edge and MyCrypto.
As usual, Jonathan Keim, communications director at CryptoCurrencyWire (CCW), reported on major developments in the crypto space, beginning with ‘Ripple Invests Another $20 Million in XRP User MoneyGram’. MoneyGram International announced that Ripple has made an additional $20 million investment in the company, bringing the total invested in MoneyGram equity to $50 million. The cash will be used to increase the volume and use of Ripple’s XRP-powered product, On-Demand Liquidity (ODL). MoneyGram is the world’s second-largest global money-transfer company (http://nnw.fm/XFDn3).
Next, Keim revealed that ‘Bitcoin Buy Positions Spike to Highest Level Since February’, one indication, perhaps, of the bitcoin rally. Bitcoin buy positions on Bitfinex, a cryptocurrency exchange headquartered in Hong Kong and owned and operated by iFinex Inc., have spiked to levels not seen since February. Conversely, sell positions have dipped and are presently hovering around their lowest levels ever (http://nnw.fm/Ll4HJ).
Finally, in ‘Seed CX Partners with 1Konto to Offer Best Execution for Digital Asset Customers’, 1Konto announced a partnership with Seed CX, a leading digital-asset exchange designed for institutional investors. 1Konto operates the Teloneum OmniPath order-routing API service that simplifies market connectivity and routing without taking control of clients’ API keys. 1Konto (German for “one account”) works with institutions and corporations to obtain better pricing for digital assets (http://nnw.fm/5oUuF).
For the latest episode, which includes CryptoCurrencyWire’s ongoing segment featuring the latest news from around the world, visit http://nnw.fm/H0Jp2
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