Cryptocurrency news for today April 5

Cryptocurrency news for today April 5

  • Bitcoin fails to overcome key resistance

  • Stablecoin trading volume continues to grow

  • Bitcoin could be the salvation during the crisis

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Bitcoin continues to while away time in the $ 6,700 area, and yesterday’s attempt to break above $ 7,000 was again unsuccessful.

Cryptocurrency news for today April 5

The longer the first cryptocurrency stays under key resistance, the more doubts about the possibility of rapid growth.

Cryptocurrency news for today April 5

Analysts note the continued increased interest in stablecoins, as evidenced by the growth in the trading volume of these coins in relation to bitcoin; and co-founder of Morgan Geek believes digital currency will help weather the financial crisis.

Read about the situation in the cryptocurrency market, as well as about the key events that have occurred in the cryptocurrency industry over the past day, in our daily digest..

Bitcoin May Help Survive Crisis, Says Morgan Creek Co-Founder

The negative consequences caused by artificially pumping up the economy can be overcome thanks to bitcoin. Co-founder of cryptocurrency hedge fund Morgan Creek Capital Management Mark Yusko in an interview with CNBC said that bitcoin may have every chance of becoming an insurance asset against the soon collapse of the financial system. The negative impacts caused by the Chinese coronavirus will only worsen when combined with artificial inflation of the economy, Yusko said. More details

Volume trading bitcoin to stablecoins reached an all-time high

Trading with the USDT stablecoin is showing unprecedented growth, reaching an all-time high. According to the report of the analytical service CryptoCompare, the trading volumes of the bitcoin cryptocurrency paired with the stablecoin Tether (USDT) in March 2020 became a record for the entire history of cryptocurrencies. The volume of bitcoins in circulation with USDT in March was $ 21.6 million, soaring from $ 7.7 million in February, which was + 182% increase in just one month. More details

MarketDAO prepares to close and transfers its assets

The fall in the cryptocurrency market, which was observed in mid-March, hit hundreds of decentralized companies. Within a few hours, many positions in tokens were frozen or liquidated, and the projects themselves declared a lack of liquidity and the inability to fulfill their obligations to clients. One such project is the MarketDAO fund. And although the dissolution of the fund was planned for a long time, recent market events are pushing the team to a quick reaction.

Cryptocurrency news for today April 5

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Bitcoin and Bitcoin SV increased in price by more than 10% per day

The cryptocurrency is showing skyrocketing gains since Thursday, April 2. Over the course of a few days, bitcoin and a number of other coins made a real breakthrough, having risen in value by more than 10%. However, the absolute champion in the rate of price growth this week was bitcoin SV, which in just a day grew by 16.69% against the euro and is trading at around 218 euros. This Bitcoin SV rate was recorded in Malta on Saturday, April 4, at 09:59 local time. Note that this is the most significant coin dash since the beginning of the year. More details

Bitcoin: April 7 could be bulls’ moment of truth

Bitcoin’s current trend has a number of similarities with price behavior since December 2018, when BTC formed a base. What can this promise the currency at this stage? Bitcoin hit a low of $ 3,782 on March 13. This was followed by rapid growth that eventually pushed the price to a high of $ 7199. The behavior of the BTC is in many ways similar to the situation around December 2018, when the currency bottomed at $ 3194. More details


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