Crypto Today: Bitcoin claims $7000 but must hold for recovery

Here's what you need to know on Thursday


BTC/USD is currently trading at $7000 (+4.15%), a surge of upside momentum came into play forcing a critical retest of $7000 breach.

ETH/USD is currently trading at $170 (+9.95%), big buying momentum came into play, but time will tell whether this is a short squeeze. 

XRP/USD is currently trading at $0.18 (+2.50%), the bulls gain pace to the north, but must break and hold above $0.2000.

Among the 100 most important cryptocurrencies, the best of the day are ABBC $0.118413 (+20.80%), KMD 0.517254 (+8.35%) HYN $0.102503 (+6.15%) The day's losers are XNS $0.0923290 (-8.92%), QNT $4.75 (-6.55%), HEDG $1.68 (-6.20%).

Chart of the day: BTC/USD daily chart (A big retest of breached bear flag is in play)


The daily average transaction values across the Ethereum platform are now equal to those of the Bitcoin (BTC) network. According to blockchain analytics firm Messari, the daily value transfer — the total value of assets moved on the blockchain over a day — of the Ethereum network began rivalling those on the Bitcoin network as of April 12, approximately $1.5 billion

A recent report from the Ethereum Classic community has stated that ETC TestNets have been updated successfully, so they are now made ready for MainNet.

According to the report, the Mordor TestNet successfully activated the Phoenix upgrade on 9th March 2020. While the Kotti TestNet fully activated the Phoenix upgrade on block 2_200_013 on 15th April 2020.


The Dutch Ministry of Finance’s implementation of the European Union’s fifth anti-money laundering directive, or AMLD5, requires the country’s Central Bank to monitor its cryptocurrency industry. The cost of this supervision will be passed on to crypto-based businesses. A recent report suggests that these new compliance fees will be higher than those paid by traditional trust and credit card companies. AMLD5 was supposed to bring increased transparency and a unified approach to anti-money laundering measures across the EU. But the varying member states have each implemented different interpretations of the directive, often prioritizing their own interests.


Local reports in China suggest that the Agricultural Bank of China — one of the nation’s biggest commercial banks, which is coincidentally state-owned — has begun to test a national digital currency project. The reports cited images leaked through WeChat that showed a new application by the Agricultural Bank of China. They specifically depict a beta version of an application branded with the logos of the Agricultural Bank of China.

Facebook’s planned cryptocurrency Libra will be linked to individual national currencies and overseen by global watchdogs in a scaled-back revamp it hopes will win regulatory approval.

The number of ransomware attacks globally has dropped significantly since the coronavirus crisis intensified in March, according to a new report from Chainalysis. The blockchain analytics firm said the drop was particularly significant given there were growing concerns over the impact of ransomware attacks against hospitals and other healthcare organizations during the crisis. Hospitals are a favoured target for ransomware gangs. Security software provider Emsisoft reported that over the course of 2019, at least 764 healthcare providers in the U.S. had been attacked. In mid-March Emsisoft publicly implored ransomware gangs to stop targeting hospitals due to the potentially fatal impacts during the crisis. 

Second State recently released a new version of its leading Ewasm software, accommodating developers to write Ethereum 2.0 smart contracts. Ethereum developers can compile Ethereum smart contracts into Ewasm bytecode and deploy them onto any blockchain that is compatible with the ssvm-evmc VM.

The Canadian Asset Manager 3iQ launched a closed-fund – ‘The Bitcoin Fund’ listed on the Toronto Stock Exchange as QBTC on 9th April. The ‘Bitcoin Fund‘ has listed around 1,491,800 shares of Class A “QBTC.U” shares available on the Toronto Stock Exchange or TSX with a market capitalization of around $16.3 million. Presently, the per-share price of QBTC is $10.95. The Fund will hold custody and other long-term investments in Bitcoin to provide investors with a convenient alternative to a direct investment in Bitcoin. 

Waves Enterprise, an enterprise-grade hybrid blockchain firm, recently got included in the Unified Register of Russian Software for Computers and Databases by the country’s Ministry of Communications. According to the official registry published by Russia’s Ministry of Communications, the firm was categorized as a “cloud-based distributed ledger service and service for virtualization and storage of data.” A source from Waves Enterprise said that inclusion into the official registry software of Russian is a positive one for the company, as the blockchain platform can gain better access to projects by public organizations and the local government.

Quote of the day

I have a question for Bitcoin HODLers. If a global pandemic, crashing stock markets, world-wide recession/depression, zero percent interest rates, unprecedented government borrowing and fiat money printing, plus a breakout in #gold hasn’t caused #Bitcoin

to go up, what will?




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

Latest Crypto News & Analysis

Editors’ Picks

Polkadot: Must reclaim key level for a chance to see new all-time highs

Polkadot price is contained inside a symmetrical triangle pattern on the 4-hour chart. The digital asset faces a key resistance level which could be the key to new all-time highs. Investors are interested in Polkadot as a potential alternative to Ethereum in the long-term.

More Polkadot News

VeChain: Edges closer to a breakout

VET price is consolidating in a descending parallel channel on the 1-hour chart. A decisive close above $0.048 will signal a breakout from the consolidation pattern and trigger a quick 5.65% upswing.

More VeChain News

Ocean Protocol’s latest developments could provide OCEAN price tailwind for a 60% upswing

Ocean Protocol announces a collaboration with Benchmark protocol to expand the DeFi data economy. Now, it's price needs to reset before it goes on a 60% bull rally to new highs.

More Cryptocurrencies News

Fundamentals grow strong despite crypto market-wide correction

Kraken CEO believes Bitcoin will hit $1 million. Leading brokerage firm Charles Schwab is planning to roll out crypto trading services.

More Cryptocurrencies News


Bitcoin Weekly Forecast: BTC journey to $100,000 might be easier than expected

This past week has been extremely beneficial for Bitcoin which jumped by 30% since Monday 8. Several positive announcements, especially Tesla purchasing $1.5 billion worth of the digital asset propelled the flagship cryptocurrency to new highs.

Read the weekly forecast