Korean Web Giant Kakao to Launch Own Crypto Wallet

Klip wallet will be developed by the blockchain division of Ground X
12 August 2019   298

South Korean technology corporation Kakao intends to launch its own Klip cryptocurrency wallet before the end of this year, News1 Korea reports.

So, the blockchain division of Ground X is developing it. The new service will support the digital currency of Klay Corporation, as well as other tokens based on the Klaytn blockchain.

At the same time, representatives of the HintChain blockchain marketplace confirmed that they are partners of the project.

The establishment of Ground X and Kakao’s plans to create its own blockchain platform became known in March last year.

In early October, white paper Klaytn was released and applications for participation in the Aspen test network with a potential productivity of 1,500 Tps began to be accepted.

Already this year, Kakao raised $ 90 million to create Klaytn from investment firms IDG Capital, Translink Capital and Crescendo Equity Partners.

Goldman Sachs to Give Bullish BTC Forecast

Goldman Sachs experts expect to see bitcoin near the $ 13,971 mark
12 August 2019   311

While Wall Street representatives sometimes come back to criticize Bitcoin, the well-known investment bank Goldman Sachs gives its own forecast for the price of cryptocurrency. To the surprise of many, it turned out to be bullish.

A note for Goldman Sachs customers on Twitter shared by Three Arrows Capital CEO Su Zhu.

As follows from the publication, in the short term, Goldman Sachs expects to see bitcoin near the $ 13,971 mark.

An unnamed analyst builds his forecast based on the Elliott Wave Theory. According to him, with a high degree of probability, bitcoin will rebound from the level of $ 11,094 in the coming days. After this, the opportunity will arise “for at least one more leap to $ 12,916 and $ 13,971”.

On the other hand, a pullback from the indicated levels should be considered as an opportunity to buy cryptocurrency against the backdrop of weakness, if its rate does not fall below $ 9,084.

What is more surprising: that Goldman Sachs has a bullish target on BTC, that they have any target at all, or that they use Elliott Wave Theory? I'm personally most surprised they cant be bothered to use a chart that includes weekend price action.

Su Zhu
CEO, Three Arrows

Short-term stop orders for long positions should be placed at $ 10,791, according to Goldman Sachs.