Crypto Today: Bitcoin bulls have revived with $6000 the gateway to a recovery

Here's what you need to know on Thursday

Markets

BTC/USD is currently trading at $5950 (+14.65%), price action continues to move within a consolidation nature. 

ETH/USD is currently trading at $130 (+14.45%), the threat of $100 being challenged to the downside remains. 

XRP/USD is currently trading at $0.15 (+11.90%), limited price action for now, as it continues to narrow within a pennant via the daily. 

Among the 100 most important cryptocurrencies, the best of the day are XCHF $4.71 (+355.00%), NMR $13.33 (+168.65%) KMD $0.497966 (+65.15%) The day's losers are WAXP $0.0.036424 (-7.42%), EURS $1.02 (-4.30%), PAX $0.962157 (-2.25%).

Chart of the day: BTC /USD daily chart 

Market

MakerDAO’s first debt auction of its MKR tokens are successfully underway. The first lot became available at 10:38 EST on March 19, and just over one hour into the auction, a further nine of the 100 expected total lots had been released.

Brendan Blumer, the CEO and co-founder of Block.one — the company behind EOS (EOS), took to Twitter to express his concerns regarding the suggested ‘EOS Worker Proposal System’ (WPS). Currently in testnet, the WPS allows EOS token holders to suggest or vote on funding proposals. After a 30-day voting period, funds will be distributed to winning proposals through smart contracts. The WPS developers are currently seeking support from Eos’ 21 block producers.
 

DeeMoney, a Thailand-based financial technology solutions provider that facilitates cross-border payments and remittances for users, has joined RippleNet, the blockchain-based payments network from the stables of Ripple. DeeMoney will now be able to process more efficient money transfers with meager fees, according to a blog post.

Regulation

As a result of the COVID-19 outbreak, Americans will be given an extra 90 days to pay their taxes without interest and penalties. This move will likely impact crypto investors, many of whom will owe as a result of trade activity in 2019. 

Industry 

Peer-to-peer Bitcoin (BTC) trading is drastically rising in Venezuela after shutting banks amid a nationwide quarantine to fight the spread of coronavirus, according to recent reports. 

Following last week's cryptocurrency market crash, the Huobi exchange has launched a liquidation mechanism that would pull the plug on trading should prices become too volatile. The new mechanism, integrated into its crypto derivatives marketplace, would halt all liquidations – where a trader's position is automatically closed – during periods when volatility starts to present a real risk for traders.

Cryptocurrency exchange, Binance, today rolled out peer-to-peer (P2P) crypto trading for five new fiat currencies from Latin America. It will help users buy crypto coins directly using these new fiat currencies.

BitGo are going to insure their assets beyond custodians $100 million coverage BitGo, the cryptocurrency custodian giant is now offering insurance for assets that it holds in excess of $100 million coverage.  According to an announcement released on the 18th of March, the platform is the first crypto assets custodian to allow its customers to buy excess limits above its standard policy. More than $100 million of ins

Quote of the day

the second the markets gain a little bit of confidence, bitcoin will blossom even in unprecedented ways compared to all its previous bubbles. 

it is the best weapon we all have to destroy the banker class.

@santisiri