Bitcoin sees big retest of bearish flag structure

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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
 



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