Ken Chigbo
Independent Analyst
Here's what you need to know on Monday
Markets
BTC/USD is currently trading at $6351 (+3.65%), the price is moving within consolidation mode, ahead of another attempt at $7000.
ETH/USD is currently trading at $132 (+3.45%), heavy supply runs from $140-150.
XRP/USD is currently trading at $0.17 (+1.20%), once again the upside is limited by a barrier at $0.1800.
Among the 100 most important cryptocurrencies, the best of the day are QNT $3.74 (+10.30%), NRG $1.81 (+9.65%) CKB $0.004307 (+8.15%) The day's losers are STEEM $0.163734 (-6.42%), MONA $1.16 (-2.55%), YAP $0.197480 (-1.30%).
Chart of the day: BTC/USD daily chart (critical retest of breached bearish flag structure)
Market
EOSIO developer Block.one has recruited the team behind EOS New York (NY), a high-profile Block Producer on the EOS network.
Major Spanish bank Santander plans to roll out its Ripple-powered international payments system One Pay FX in Mexico in 2020. In a Form 20-F filed with the United States Securities and Exchange Commission on March 6, the bank revealed that Mexico will be offering the service in early 2020.
Regulation
Singapore regulator issued guidance and conditional registration relief for certain cryptocurrency exchanges. Through an exhaustive list, the Monetary Authority of Singapore (MAS) has allowed 415 applicants to conduct their payment or crypto-related operations without holding a license until July 28, 2020. Among those granted an exemption from registration requirements under the Singapore Payment Services Act, the regulatory filing states Alibaba.com, Alipay, Bitgo, Paxos, Paypal, Binance, Coinbase and Ripple.
Following the approval of a regulatory framework for cryptocurrencies by the South Korean government, one of the largest banks in the country is preparing to launch a range of crypto services. KB Kookmin Bank has applied for trademark registration, reportedly listing over 20 crypto services on its application.
Industry
A consortium of Dutch companies has launched the “Tech against Corona” initiative. Participating firms will freely provide the Dutch government with access to innovative technologies that can be used in the fight against COVID-19. Netherlands-based distributed ledger technology (DLT) firm, Tymlez, is one of more than 10 companies who are freely providing their services and technologies to the government.
Hitachi Solutions Co. Ltd, a leading Japanese tech firm is joining forces with Joseph Lubin’s ConsenSys for the development, and sales of blockchain solutions powered by PegaSys Plus, a distributed ledger technology (DLT) platform from the stables of ConsenSys, according to a press release on March 30, 2020.
Microsoft recently registered a patent for a technology that uses human activities for cryptocurrency mining. According to the document, the technology leverages our brain waves and body temperature needed to perform various online tasks.
Eli Bejerano, CEO of Israeli’s oldest cryptocurrency exchange Bit2C, has filed fraud charges against BT360, a popular Israeli crypto wallet. News of the $500,000 lawsuit first appeared in Globes, Israeli’s leading financial publication.
Quote of the day
A short story about opportunity cost.
Since March 2012:
• Gold is -2.5%
• Bitcoin is +137,528%
$1,000 invested in Gold is now worth $975.
$1,000 invested in Bitcoin is now worth $1,376,280.
Hating on $BTC has cost Gold fanatics 7-figures over the last 8 years alone!
Wow.
@BTC_Macro
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
SEC doubles down on TRON's Justin Sun lawsuit dismissing claims over jurisdiction
The SEC says it has jurisdiction to bring Justin Sun to court as he traveled extensively to the US. Sun asked to dismiss the suit, arguing that the SEC was targeting actions taken outside the US.
XRP fails to break past $0.50, posting 20% weekly losses
XRP trades range-bound below $0.50 for a sixth consecutive day, accumulating 20% losses in the last seven days. Ripple is expected to file its response to the SEC’s remedies-related opening brief by April 22.
ImmutableX extends recovery despite $69 million IMX token unlock
ImmutableX unlocked 34.19 million IMX tokens worth over $69 million early on Friday. IMX circulating supply increased over 2% following the unlock. The Layer 2 blockchain token’s price added nearly 3% to its value on April 19.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?
Bitcoin: BTC post-halving rally could be partially priced in Premium
Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?