Blockchain
Ripple partners with Mobile Money to serve Malaysia-Bangladesh remittance corridor
Ripple is in the news today after it announced a partnership with Mobile Money, a Malaysian mobile wallet company, to facilitate wallet-to-wallet payments between Malaysia and Bangladesh and serve the remittance corridor between the two countries. Through RippleNet, Mobile Money has connected to bKash, Bangladesh’s largest provider of mobile financial services (MFS), a company that […]

Ripple is in the news today after it announced a partnership with Mobile Money, a Malaysian mobile wallet company, to facilitate wallet-to-wallet payments between Malaysia and Bangladesh and serve the remittance corridor between the two countries.
Through RippleNet, Mobile Money has connected to bKash, Bangladesh’s largest provider of mobile financial services (MFS), a company that currently serves over 45 million users.
Mutual Trust Bank (MTB) will work as the local banking partner in Bangladesh to perform the remittance settlements under the purview of Bangladesh Bank. According to Kamal Quadir, CEO of bKash,
“This partnership will bring great convenience to both the recipients and senders, and contribute further to our national economy by encouraging inward foreign remittance flow through legal channels.”
Bangladesh has the third-largest remittance flows in South Asia, and the eleventh-largest worldwide, with Malaysia ranked as one of the top five sources of remittances to Bangladesh.
In fact, Mobile Money anticipates that this partnership will increase its user base of Bangladeshi workers by 20% as it enables it to better serve them.
As Lee Eng Sia, Founder of Mobile Money was quick to highlight,
“Our partnership with Ripple makes us one of the first few e-wallet companies to offer such digital remittance solutions to Bangladeshi workers, and we’re confident that it will enable us to stay ahead of the competition while expanding our user base.”
In an interview with Thinking Crypto back in June 2020, SBI Ripple Asia’s Adam Traidman had said that the company had started “limited trial and pilot projects” with various companies for Ripple’s payment corridors, with a greater expansion forecast for 2021.
“The [ODL] technology is much more suited for cross-border payments where the costs are a lot higher,” he said, noting this as one of the reasons why Ripple’s technology is suited for Asia and very successful in South America.
In fact, the company has increased its partnerships with numerous platforms across Asia, including Sentbe and Hanpass, and WireBarley in South Korea, all of which are intended at bringing liquidity costs down significantly.
This partnership with Mobile Money will also serve to further expand Ripple’s On-Demand Liquidity (ODL) to new corridors. Currently, the USD-MXN corridor is Ripple’s largest ODL corridor, seeing over $20,000 in volume in the past 24 hours alone.
Source: https://ambcrypto.com/ripple-mobile-money-bangladesh-malaysia/
Blockchain
TA: Bitcoin Price Back Below 100 SMA, Why BTC Could Retest $45K

Bitcoin price failed to stay above $50,000 and $49,000 against the US Dollar. BTC is now below the 100 hourly SMA and it is likely to continue lower towards $45,000
- Bitcoin started a fresh decline below the $50,000 and $49,000 support levels.
- The price is now trading well below $50,000 and the 100 hourly simple moving average.
- There is a connecting bearish trend line forming with resistance near $49,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could extend its decline towards $45,000 as long as it is below $50,000.
Bitcoin Price Turns Red
After forming a short-term top near the $52,600 level, bitcoin started a fresh decline. BTC traded below the $51,200 and $50,000 support levels to move back into a negative zone.
There was also a break below a major bullish trend line with support near $49,500 on the hourly chart of the BTC/USD pair. The pair even broke the $48,000 support level. There was a clear break below the 50% Fib retracement level of the upward wave from the $43,050 swing low to $52,650 high.
It is now trading well below $50,000 and the 100 hourly simple moving average. It seems like the bulls are trying to protect the 61.8% Fib retracement level of the upward wave from the $43,050 swing low to $52,650 high.
Source: BTCUSD on TradingView.com
If they fail and the price trades below $46,500, there are chances of more losses. The next key support is near the $45,000 level, below which the bears might aim a test of the $43,000 support zone.
Fresh Increase in BTC?
If bitcoin stays above $46,500, it could correct higher. An initial resistance on the upside is near the $48,000 level. The first major resistance is near the $49,000 level and the 100 hourly simple moving average.
There is also a connecting bearish trend line forming with resistance near $49,000 on the same chart. To move into a positive zone, the price must clear the trend line resistance and then gain pace above the $50,000 barrier.
Technical indicators:
Hourly MACD – The MACD is now gaining momentum in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now well below the 50 level.
Major Support Levels – $46,500, followed by $45,000.
Major Resistance Levels – $48,000, $49,000 and $50,000.
Checkout PrimeXBT
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Source: https://www.newsbtc.com/analysis/btc/bitcoin-btc-could-retest-45k/
Blockchain
Analyst tells Tesla to dump Bitcoin for buybacks as shares plunge alongside MSTR’s


A former equities CIO of Goldman Sachs drew an strong response on Twitter after suggesting Tesla should sell its Bitcoin and buy back company shares.
The price of TSLA shares have fallen 28% from $863.42 to $621.44, since news broke on Feb. 8 that Tesla had made a $1.5 billion BTC acquisition.
MicroStrategy’s shares have fared even worse in the short term. The company, which is headed by Bitcoin bull Michael Saylor and just completed its latest acquisition of $15 million in BTC on Mar. 3, is now down 50% from its all-time high of $1,315 from Feb. 9.
Tesla’s share market woes are likely due to a number of factors. In early February, it was reported that Tesla had been reprimanded by the Chinese government over quality control issues after receiving consumer complaints. The broader stock market has also experienced volatility, with the S&P 500 down 4.1% in the last 30 days.
But the tweet from longtime Tesla analyst Gary Black, who has several decades of financial management experience, sparked a debate on whether Tesla’s purchase of $1.5 billion in Bitcoin last month had benefited investors.
Tesla stock is now down 28% since buying #Bitcoin as investors signal to @ElonMusk that $1.5 billion was not enough.
— Documenting Bitcoin (@DocumentingBTC) March 4, 2021
“I don’t want them buying back stock,” said Twitter user Techgnostik. “I want them investing in growth, and making another billion on their BTC position.”
Black countered by suggesting TSLA would also draw inclusion by more fund managers with a share buyback program, considering it of greater value to the investor than buying BTC “with excess cash.”
Some users on Twitter agreed that a stock buyback seemed to be a more appropriate use of funds, while others felt too much attention was being paid to what Tesla did with 8% of their cash reserves.
.@Tesla‘s mission is to “accelerate the world’s transition to sustainable energy.” It is not about catering to the mercurial whims of short-term traders in $TSLA.https://t.co/93hr25iJ27 https://t.co/eJReXuvPo4
— AMuchBetterFace (@AMuchBetterFace) March 4, 2021
It’s not easy to ascertain the impact buying Bitcoin has had on a company’s bottom line. While MicroStrategy’s share price has halved in a month, shares of MSTR are still up 340%, (from $146.63 to $645.66), since the company announced its first purchase of 21,454 BTC on Aug. 11, 2020. The price of BTC is currently up 310% from the same date.
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Source: https://cointelegraph.com/news/analyst-tells-tesla-to-dump-bitcoin-for-buybacks-as-shares-plunge-alongside-mstr-s
Blockchain
Experts divided on BTC predictions: Bullish or super bullish?


Despite the current battle between Bitcoin bulls and bears around the $50,000 price mark — and an 8.7% pullback over the past 24 hours — a raft of analysts and commentators have got out their crystal balls to tip a glittering future for Bitcoin prices.
On Mar. 4, Senior Commodity Strategist for Bloomberg Intelligence Mike McGlone pointed to historical data to suggest that Bitcoin is on the way to $100,000.
McGlone’s logic revolves around the growing discount for shares in the Grayscale Bitcoin Trust which is at the same level as last year’s Black Thursday collapse. The discount refers to when shares in the Grayscale Bitcoin Trust trade for less than the value of the underlying Bitcoin (normally they trade at a premium).
Looking at historical data, said that
Grayscale #Bitcoin Trust Discount May Signal March to $100,000 – Bitcoin’s end of February price disparities on U.S. regulated exchanges portend a firming price foundation, if history is a guide, and are evidence of just how nascent the crypto is. pic.twitter.com/qj6hfTvH8K
— Mike McGlone (@mikemcglone11) March 4, 2021
Twitter user “Lee Hendricks” wasn’t convinced, suggesting the catalyst for Grayscale’s discount could be the result of pressure from upcoming ETFs and other crypto funds. (Although that’s arguably bullish too.)
The Bloomberg strategist isn’t the only expert with high expectations for BTC, with influencer and YouTuber Lark Davis stating on Mar. 4 that “we are just now past the first major price wave,” with two more, larger waves to come.
This #bitcoin bull run has barely even started yet! We are just now past the first major price wave. Get ready for wave 2. pic.twitter.com/kRzAqlB2E8
— Lark Davis (@TheCryptoLark) March 4, 2021
On March 2, technical analyst Kaleo posted a chart predicting BTC will hit $100,000 near the start of April this year.
It’s a follow-up on his “Bitcoin Halving Reward Era Price” analysis chart two years ago predicting the price would reach $200,000 around mid-2021. He tweeted two weeks ago that he still has faith in it:
“It is by far the most accurate, long-term chart prediction I’ve ever seen for Bitcoin… $BTC will hit $200K+ this cycle.”
Another analyst who goes by the Twitter name MasterChangz, told his 10,000 followers he believes Bitcoin will hit the $200,000 mark even earlier than mid-2021, potentially at the start of April. The next rise, he said, is to $77,000 over the next two weeks.
Ok this bull run fractal is become more insanely accurate by the day.
I’m literally making bank of trading it, its like a cheat sheet.
$77,000 next up.#BTC pic.twitter.com/JJS4Huu6ri
— (@MasterChangz) March 4, 2021
Other predictions are even bolder with Kraken CEO Jesse Powell stating the cryptocurrency could reach $1 million or even “infinity” in a Bloomberg television interview on Mar. 4, adding that it will eventually become the world’s currency.
“We can only speculate, but when you measure it in terms of dollars, you have to think it’s going to infinity,” he said. “The true believers will tell you that it’s going all the way to the moon, to Mars and eventually, will be the world’s currency.”
Kraken Head of Growth Dan Held, echoed this prediction on Mar. 5, claiming on Twitter that:
“Bitcoin is more likely to hit $1,000,000 than $0.”
Even past Bitcoin skeptics are becoming crypto converts with investment firm Sanders Morris Harris CEO George Ball admitting to Yahoo Finance on Mar. 4 that he believes cryptocurrencies are now “attractive” as a “small part” of any portfolio.
“With the cryptocurrencies, I think there is a fundamental hydra-headed shift that makes them attractive as a part, a small part, of almost any portfolio,” Ball said.
Despite this wave of optimism, history also suggests March could be a bloody month, with Bitcoin’s price falling across the month in six of the past nine years by an average of 5.8%. The most recent of these occurred last year on Black Thursday when the price plunged by 50%. That said, the second-biggest monthly candle in BTC history happened in March 2013, when the price shot up 179%.
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Source: https://cointelegraph.com/news/experts-divided-on-btc-predictions-bullish-or-super-bullish
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