Crypto News Today: Bitcoin bulls on the verge of taking out 10K
- Bitcoin looks set to hit the psychological 10K mark.
Ahead of the big halving event next week the bitcoin bulls are out in full force. The price is trading 7% higher on the session and a stone's throw away from the 10K level.
Looking closer at the chart we can see that the black trendline has been taken out in a very classic technical move. It could be retested in the medium term if the 10K level acts as a resistance zone but only time will tell.
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- Justin Sun’s TRON foundation has allegedly been awarded USD 2 million in subsidies, courtesy of the US CARES package.
The controversy comes after reports emerged that the firm received money from the US stimulus package US Cares. This is according to a Chinese WeChat platform post published on Wednesday.
We need to talk about this. In China Justin Sun appears to be claiming that Tron successfully applied for COVID-19 small business relief money from the United States government. pic.twitter.com/B3EKQHJLpD
— Matthew Graham (@mattysino) May 6, 2020
- ECB warns that Libra could amass USD 3 trillion in assets.
The scaremongering continues as the potential size of Libra's assets and links with the wider financial system pose a risk to stability, according to a new ECB report. In the newly constructed scenario, if Libra gets as big as Facebook it would hold assets larger than the balance sheets at most banks.
Author
Rajan Dhall, MSTA
FX Daily
Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.
