Here's what you need to know on 

Markets:

BTC/USD is currently trading at $10,467 (+1.1% on a day-to-day basis). The coin has been consolidating earlier gains close to the intraday high.

The ETH/USD pair is currently trading at $279.96 (+9.18% on a day-to-day basis). The Ethereum hit the intraday high of $274.84; now, it is moving within a short-term bullish trend amid low volatility

XRP/USD jumped above $0.33 during early Asian hours before retreating to $0.3262. The coin has gained 12.9% in recent 24 hours.

Among the 100 most important cryptocurrencies, the best of the day are Hedera Hashgraph (HBAR) $0.0688 (+47.5%), Holo (HOT) $0.0009 (+15.7%) and DxChain Token (DX) $0.0014 (+14.16%), The day's losers are, Synthetix Network Token (SNX) $0.9626 (-7.5%), NEM (XEM) $0.0697 (-7.2%) and Decentraland (MANA) $0.0626 (-5.72%).

Chart of the day:

XRP/USD, 4-hour chart

Market:

Now that the break above a pivotal resistance of $10,000 is confirmed, BTC/USD may be ready for another strong move towards $11,000. According to Craig Erlam, senior market analyst at Oanda Corp., Bitcoin tends to move in clips of $1,000, which means that $11,000 can be reached very quickly. Moreover once this barrier is cleared, the bullish trend may start snowballing as many traders have been sidelined, waiting for the momentum to gather pace, the expert believes.

A break above $11,000 would be an even more bullish action for me than this one above $10,000/

Industry:

The US-based cryptocurrency exchange Coinbase launched marginal trading functionality on Coinbase Pro accounts. 

Starting today, Coinbase Pro customers in 23 US states can access up to 3x leverage on USD-quoted books. Trading crypto on margin (or leverage) can amplify the impact of your trades by allowing you to borrow additional funds. 

Notably, Coinbase Pro is a rebranded GDAX platform that tried to launch marginal trading in 2017 but was forced to stop them due to regulatory scrutiny.

Regulation:

People's Bank of China filed over 80% of patents related to digital currencies, the Financial Times reports. They include proposals on a system for interbank settlements based on digital currency, central bank-issued digital currency (CBDC) supply and solutions that would allow integrating the existing retail bank accounts with digital wallets. The number and the contents of the patents shed the light on Chinese effort focused on CBDC creation.

Perianne Boring, president of the Chamber of Digital Commerce commented:

The theme is that China has made massive investments and are taking this very seriously. That is drastically different from the United States’ approach and this just highlights that.

 

The US plans to roll out a set of regulatory rules of the cryptocurrency industry and digital payment systems, the head of the US Treasury Steven Mnuchin said while speaking at the Senate Finance Committee hearings. He also added that the regulation would have transparency as its top priority. 

We will be rolling out new regulations to be very clear on greater transparency so that law enforcement can see where the money is going and that this isn’t used for money laundering, Mnuchin said.

 

Quote of the day:

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin Price Analysis: Bart Simpson pattern implies BTC price manipulations

Bitcoin volatility jumped to November 2019 high amid a sudden price collapse during US trading hours on Wednesday. Bloomberg reports that amid the price decline, 10-days volatility surged to 65%, while the 30-days volatility in the highest since January 28 at 35.40%.

More Bitcoin News

Ethereum Price Analysis: ETH/USD creates double-top formation, risks further sell-off

Ethereum (ETH) now the second-largest digital asset with the current market value of $28.3 billion, has lost nearly 8% in recent 24 hours to trade at $256.0 at the time of writing.

More Ethereum News

LTC/USD breakdown could test $65 ahead of recovery to $100

Litecoin has been posting frequent gains ever since the price broke above the long term resistance trendline that started in June 2019. The recovery has also remained within the confines of an ascending channel.

More Litecoin News

Bitcoin Cash Price Analysis: BCH/USD desperately searches for support, breakdown to $350 looms

The cryptocurrency assets suffered another massacre on Wednesday during the American session. The mid-week recovery posted on Tuesday through to Wednesday turned out to be a bull trap.

More Litecoin News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC bulls brace for jump to $11,000

Bitcoin (BTC) has been growing for three weeks in a row. The first cryptocurrency hit $10,504 on Thursday - the highest level of 2020.

Read the weekly forecast

BTC

ETH

XRP