Bitcoin ends a disappointing year and YouTube bans crypto-related content

Data & Research / 29.12.2019

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This Week’s Summary

● The Crypto Market ends the week at a total market capitalization of $197 billion
Bitcoin price remains captive between the $7,000 and $7,500 marks
Ethereum moves slightly above the $130 barrier
Ripple ends the year disappointingly under the $0.20 threshold
● YouTube flags and deletes cryptocurrency-related videos

Crypto Trends 23-29th of December 2019: PERFORMANCE & ANALYSIS

The last week of 2019 does not bring massive changes on the crypto market. Bitcoin puts an end to its wobbly performance throughout the year by barely defying the $7,500 barrier. The altcoins struggle to finish the decade on a high as most of them disappoint in reaching the expectations set 12 months ago.

The BTC value has been on a downtrend for several weeks now, and the end-year predictions are not rosy. The most probable scenario sees the most popular crypto fall under a bearish attack. Before January kicks in, we might even see it drop below the $7,000 mark.

In a more optimistic scenario for Bitcoin, industry experts hope for a bullish attack in the nick of time. Their expectation is that BTC will soar past the $7,800 mark and save face before the fireworks usher in a new decade.

With three days to go, Bitcoin sells for 7,424 at the time of this writing. The news that countries like South Korea and Russia are looking to develop and launch their own stablecoins is not favoring a BTC revival at the moment.

The rest of the altcoins remain in Bitcoin’s guiding shadow. XRP shows signs of stabilization against Bitcoin, but it cannot get its hopes up above the $0.20 barrier. At the time of this writing, it ends the week at a disappointing $0.19.

Ethereum continues its 3-month downtrend direction as it slips further away from the $230 target that many had set at the beginning of the year.  At the time of this writing, it sold for $131.

Elsewhere, in a strange turn of events, YouTube appears to wage war against crypto-based videos. Several crypto enthusiasts shout out their frustration on Twitter after the social media platform deleted several clips on cryptocurrency that it deemed to be “harmful or dangerous content.”

YouTube later returned with a “mea culpa” statement claiming it was nothing more than a system error. However, this unexpected and somewhat drastic measure is just another link in a long chain of  temporary bans and restrictions imposed on cryptocurrency-related content by Google, Facebook and other major networks.

What’s in the News?

● Bank of Russia puts to test new stablecoin in a regulatory sandbox.
● The NULS Blockchain platform loses over $480,000 in hack attack
● Ripple receives $200 million as a Series C funding
● Samsung will support 3 new TRON DApps, according to this report
● The Bank of Korea will organize a special task that should create experts in the field of cryptocurrency and digital assets

Next Week’s Market Forecast

For the remainder of this year, the cryptocurrency market should not deliver any major surprises. Unless the bulls rally back behind Bitcoin and push it beyond the $7,800 barrier, we should see very little positive action in the upcoming week.

The most realistic impression across the market right now is thatthe next decade will see BTC start in the red. The other altcoins should follow suit and hope for less volatility in the upcoming year.

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A creative writer in the field of content writing for the past 7 years. Iulian is passionate about his work and his interest in areas such as technology, travel, sports, literature and gastronomy have aided him to the research quality in articles that reflect these themes. Recently, he discovered the Bitcoin and the blockchain technology and he’s a big fan now.