Cryptocurrency News Roundup for April 14, 2020

Cryptocurrency News Roundup for April 14, 2020

BeInCrypto provides our daily cryptocurrency news roundup for the date of April 14, 2020. Page 2847 for discussion 'discussion about SpeakEasy Cannabis Club Ltd.' April 20, 2018 in the w: o forum 'Canadian values'. XRP demand is on the rise as Binance South Africa contemplates listing it. This comes a few days after the fast-growing crypto exchange added the South African Rand (ZAR) on […]

The International Monetary Fund (IMF) published a new forecast Tuesday predicting that the coronavirus-induced global economic slowdown will get much worse from here before getting any better.

Perhaps, only then will Bitcoin be able to live by the more bullish forecasts that call for reaching all-time-highs in September 2020.

Meanwhile, in other important cryptocurrency news from Tuesday:

New data from Google shows that search volume involving the keyword ‘Bitcoin halving’ is at an all-time high, indicating that retail interest in the milestone event is soaring. However, this steady rise in search volume is yet to reflect in any tangible outcome in terms of the BTC price or trading volume.

On a related note, Bitcoin’s RSI is at its lowest point at this crucial juncture as compared to any other halving in its decade-long history.

Bitcoin Halving

Following the March 12 market bloodbath that saw Bitcoin shedding nearly 50% in just 24 hours, there are finally signs of an uptick in the investor confidence index. This is reflected in the ongoing growth in Bitcoin futuresBakktFutures contracts are literally agreements to buy or sell an asset on a future date and for a fixed price…. More interest.

Led by BitMEX and OKEx futures markets, Bitcoin futures open interest has been steadily moving upward since the end of March. It is, however, yet to reach the same levels as seen in January 2020.

The prices of both EthereumEducationBlockchain is a digital ledger that’s used for storing data on several servers across the world in a decentralized, trustless… More (ETH) and TRON (TRX) have seen healthy growth since April 6, gaining 10% and 6% respectively versus Bitcoin. This is leading some analysts to believe that both these altcoins are preparing the ground for huge gains in the second quarter.

ETH, in particular, has reclaimed a very significant area as support at ₿0.0225. This area acted as a zone of resistance between August 2018-February 2020. After breaking out, the price reached a high of ₿0.0284 before beginning the still ongoing downward move.

Meanwhile, TRX is likely to continue on an upward trajectory so long as the price stays above 175 satoshis.

Eth Coronavirus

The Bitcoin dominance rate has been decreasing steadily since March 25. This has caused numerous altcoins to increase considerably when looking at their BTC pairs. Chiliz (CHZ) and Basic Attention Token (BAT) are two such altcoins that are currently showing some serious potential for growth.

CHZ has been following an ascending support line since September 2019. It has created a double-bottom pattern at 90 satoshis. BAT, meanwhile, has reclaimed an important support level with the price trading inside an ascending triangle.

The Bitcoin price failed to break down below $6,750 and reclaimed this area as support afterward. It is expected to increase until around $7,050 before beginning a downward move.

  • The Bitcoin price is trading at the resistance line of a range between $6,900-$5,700.
  • The price is following a short-term descending resistance line at $7,050.
  • A rejection could cause the price to sink back to the support levels around $6,300.
  • Read the Full Analysis

    Source: beincrypto.com

    Author: Illustrations by A. Gnetova and G. Phan


    Discussion about SpeakEasy Cannabis Club Ltd. (Page 2847)

    Discussion about SpeakEasy Cannabis Club Ltd. (Page 2847)

    Avatar

    Reply to post no .: 63.301.465 by SL_190 on 04/11/20 12:18:25

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    Reply to entry no .: 63.303.130 by SL_190 on 04/11/20 17:56:27

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    Reply to entry no .: 63.303.130 by SL_190 on 04/11/20 17:56:27

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    Reply to entry no .: 63.303.130 by SL_190 on 04/11/20 17:56:27

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    Reply to entry no .: 63.303.130 by SL_190 on 04/11/20 17: 56: 27 nice move; o)

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    Reply to entry no .: 63.303.130 by SL_190 on 04/11/20 17: 56: 27 I knew that you had a lot of shares. You've been there for a long time. I wish you good luck too

    Avatar

    Reply to entry no .: 63.300.988 by SL_190 on 04/11/20 10:58:30

    Source: www.wallstreet-online.de

    Von ahnungslos80 gestern 16:35

    Discussion about SpeakEasy Cannabis Club Ltd. (Page 2847)

    Binance South Africa to add XRP as demand skyrockets

    XRP demand is on the rise as Binance South Africa contemplates listing it. This comes a few days after the fast-growing crypto exchange added the South African Rand (ZAR) on its platform. The southern African market is among the most vibrant in the continent.

    To date, Binance is giving its users in the country’s sizeable trade pairs. These include USDT/ZAR, BTC/ZAR, ETH/ZAR and their native coin BNB/ZAR.  The exchange country manager Tanya Knowles says XRP demand is very noticeable among local users. The manager goes on to add:

    “…We have launched five trading pairs, but we haven’t launched XRP, for example, and that has been one of the requests that is coming from some of our users already. So, so these sorts of things we would need to roll out.”

    While acknowledging the crypto potential in the country, Knowles says user experience is vital and the need for user education is part of the exchange’s priority. Citing Binance entry into the Indian market through WazirX exchange, the country manager insisted on creating crypto awareness first.

    The Rand has shed over 40 percent against the USD this year alone. Knowles believes that crypto can offer alternative ways to invest. However, the representative maintains that the entry into the local market is to open doors for international projects. To increase local adoption, the platform has introduced the “Instant Visa Buy” for the local users.

    XRP, a product from Ripple is gaining popularity and acceptance in both developed and developing economies. Its products have accepted by many banking institutions.  Just like in India and Indonesia, the entry into the South African market is a way to tap into the crypto potential across borders.

    Binance has established bases in 35 countries across the African continent but South African economic vibrancy is the right landing spot for any exchange. The country appears in the top five countries with high crypto holdings.

    LocalBitcoins has been recording growth in its volumes, a clear indication that the market is ready for disruption. With a market worth more than ZAR 13 million, a lot is expected from Binance on whether it is going to list XRP soon.

    Albert Kim is a full time tech content developer and writer specializing in blockchain and cryptocurrencies. He has been in the tech industry for the last 7 years helping businesses scale up their potential to the next level.

    Source: www.cryptopolitan.com

    Author: Albert Kim


    Cryptocurrency News Roundup for April 14, 2020

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