Curate Bitcoin 03/26/2020 by dobobs

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of CURATION. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Latest Crypto Fear & Greed Index


Bitcoin News Roundup for March 26, 2020 [Updated Mar 26, 2020 at 16:00 UTC] [coindesk.com]


Is Bitcoin a Safe Haven? 80% BTC Price Recovery Boosts Investor Appeal [cointelegraph.com]

YTD returns for Bitcoin, Gold, S&P 500, US Dollar and WTI oil. Source: Skew.com | The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

This week, as a $2 trillion economic stimulus package was put forth by U.S. lawmakers, the performance of major market indexes improved and the Dow registered its best day since 1933, gaining 11% after the major pullback of the last few weeks.

In the meantime, gold increased slightly over 5%. The recent market fall-out gave rise to Bitcoin (BTC) critics such as Peter Schiff claiming that “only fools are choosing Bitcoin” over gold as a safe-haven alternative in the market.

Sentiment correlations between BTC, Gold and the S&P 500. Source: The Tie

Bitcoin is On the Cusp of an Explosive Movement as Exchanges Face Mass Exodus [newsbtc.com]

This also comes alongside a mass exodus of Bitcoin from exchanges, according to new data, which may be a sign that investors had been accumulating throughout the cryptocurrency’s recent downtrend and are now beginning to move their crypto to cold storage.

If this is the case, the recent accumulation may be a sign that this next bout of heightened volatility will favor buyers.

 

DARING ANALYST CALLS BITCOIN CRASH TO $2.4K SOON [bitcoinist.com]

With market data showing a range of conflicting signals, one analyst has now made a bold prediction that Bitcoin will soon see its largest price collapse in over a year. Whereas investors should consider all possibilities, such a bold assumption is certain to be controversial.

 

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Bitcoin Volatility as 50K BTC Options Contracts Expire [cryptobriefing.com]

In/Out of the Money Around Current Price by IntoTheBlock
In/Out of the Money Around Current Price by IntoTheBlock
  • Over $328 million worth of Bitcoin options open interest are set to expire tomorrow.
  • The upcoming quarterly expiry could trigger high levels of volatility in the market like it has happened in previous years.
  • Bitcoin could suffer a steep correction before it bounces back sharply, according to different renowned analysts.

How would a US recession affect Bitcoin? [decrypt.co]

  • US Federal Reserve Chairman today said the US “may well be in a recession.”
  • Bitcoin has been affected by the coronavirus crisis, just as traditional markets have been.
  • It’s unclear whether Bitcoin would suffer during a recession, especially with upcoming reductions to mining rewards.

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Top Analyst Who Predicted Bitcoin (BTC) Boom to $100,000 Warns King of Crypto Running Out of Time to Prove Itself [dailyhodl.com]

But that all changed this month, as the coronavirus pandemic triggered a massive sell-off that caused the leading cryptocurrency to plunge along with traditional markets.

Brandt, who has consistently maintained that BTC will likely rally to the moon or retreat to zero, now says there’s a high chance BTC may drop below $1,000.

Meanwhile, fellow analyst Tone Vays predicts there’s a 75% chance that Bitcoin has reached a bottom, and a 20-25% chance BTC will once again drop below $3,800.

 

Bitcoin Hashrate Down 45% – Miners Witness Second-Largest Difficulty Drop in History [bitcoin.com]

Bitcoin Hashrate Down 45% - Miners Witness Second-Largest Difficulty Drop in History

Bitcoin’s hashrate has plummeted 45% since the record-breaking levels it saw on Feb. 29. The hashrate touched an all-time high of 136 exahash per second (EH/s) but has since dropped to 75 EH/s. Moreover, the crypto network has seen the second-largest difficulty drop since October 2011.

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Stablecoins off to a strong start in 2020 [theblockcrypto.com]

While 90% of the total stablecoin outstanding value still resides within Tether, USDC has seen the same pace of growth as Tether (33%) through 1Q20 (off a smaller base) and is edging closer to $1 billion
The value of Tether on Ethereum has now crossed more than $4 billion and is up more than 75% YTD
The cumulative transaction volume across stablecoins crossed $90 billion in a quarter for the first time ever — up 8% from 4Q and more than 280% since 1Q19

Heads of Binance.US, Ledger, and ZCoin Speak to Impact of Digital Dollar on Industry [cryptopost.com]

Whether or not ongoing stimulus efforts lead to the minting of a digital dollar, it’s a subject that is on the minds of U.S. legislators in a new way, especially as China’s pending central bank digital currency (CBDC) continues moving forward. Cointelegraph spoke with several leaders in the blockchain industry to get their take on what a digital dollar means for stimulus, government, and crypto.

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Ethereum is Primed For a Rally And Only 1 Thing is Holding it Back [newsbtc.com]

Ethereum Price
Ethereum Price
  • Ethereum is struggling to gain bullish momentum above the $142 zone against the US Dollar.
  • The price is currently trading nicely above the $135 support and the 100 hourly simple moving average.
  • There is a key declining channel forming with resistance near $142 on the hourly chart of ETH/USD (data feed via Kraken).
  • The bulls are likely to make another attempt to clear the $142 and $144 resistance levels.

Fortune favors Tezos, Monero, VeChain as altcoins register over 30% gains [ambcrypto.com]

Source: XMR/USD, TradingView

For most altcoins, the past couple of weeks weren’t necessarily the best. However, after enduring a harrowing mid-March, it looks like their fortunes may be beginning to reverse. While their present price action is far from where most altcoins were at the start of the year, recent price surges have come as a welcome change. Over the past few days, cryptocurrencies such as Monero [XMR], VeChain [VET], and Tezos [XTZ] have all once again recorded crucial gains.

Source: XTZ/USD, TradingView

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Why Circle’s (USDC) Is Best Placed To Challenge Tether’s (USDT) Stablecoin Dominance [coingape.com]

On Monday, March 23, 2020, one of the largest crypto exchanges, OKEx announced the addition of top 10 crypto to USDC pairs including BTC, LTC, ETH and XRP, ushering in a new chapter for the stablecoin. Being listed on OKEx exchange against the top crypto pairs is slowly setting the coin to a prime position to battle the dominance shown by Bitfinex-affiliated Tether in the past few years.

 

Binance Launches Binance Card That Lets Users Shop And Pay With Crypto Around The World [zycrypto.com]

Binance announced the news in a blog post on Thursday (March 26, 2020), saying that users can now make regular payments using its newly-unveiled Binance Card. Users will only be required to pre-load their cards using either bitcoin (BTC) or Binance Coin (BNB) via the Binance Card App. The card will then automatically deduct all payments or shopping expenses from the balance every time a payment is made.

 

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Decentralized AI Alliance Launches Hackathon To Support COVID-19 Medical Community [cryptopotato.com]

An organization of more than 50 companies, nonprofits, and labs, is launching the very first COVIDathon. The Decentralized Artificial Intelligence Alliance (DAIA), as the organization is called, will launch the hackathon with a mission to develop and to launch open-source code and tools which are supported and guided by medical, AI, and blockchain experts and principles.

The main idea is to help reduce the risk of current and future infectious outbreaks, as well as to cope with the existing COVID-19 pandemic.

The initiative is powered by DAIA, but it is also coordinated with SingularityNET and Ocean Protocol – a decentralized substrate for the data economy.

More news and community @Publish0x

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