Will Bitcoin face a 75% depth pullback? Veteran traders warn + XRP secures Singapore payment license.

[Coin World] Recently, several signals worth following have emerged in the encryption circle.

Veteran trader Peter Brandt has thrown out a rather pessimistic view—he dug up historical cyclical patterns and believes that Bitcoin may need to undergo a deep washout before ushering in the next wave of crazy surge. This pullback could be significant, and he estimates the drop could exceed 75%. With this statement, market sentiment has tightened a bit.

At the same time, Dogecoin's founder Billy Markus spoke out. He directly responded to those who claimed that the recent market crash was artificially manipulated, and also pointed out a common psychological loop in the trader community: when the market is up, it feels like strength, and when it is down, they shout about dark forces. This statement is quite truthful.

There are also new developments on the regulatory front. Ripple has obtained an upgraded payment license issued by the Monetary Authority of Singapore - this is an expanded major payment institution license. With this license, Ripple can not only offer more payment services, but XRP also officially has a passport for cross-border payments in Southeast Asia. This is a substantial breakthrough for Ripple's layout in the Asia-Pacific market.