Coinidol cryptocurrency news digest, March 28
Cryptocurrency news for today 28 march
Technical indicators promise Bitcoin decline
Ripple prepares to continue its growth
Coinbase scares off users with high fees
The data on the number of unemployed in the US is terrifying, but financial markets are doing well so far. Bitcoin has consolidated in a range for most of the week, but now a head and shoulders pattern has appeared on the charts, which could be a signal for a reversal. Investors remain pessimistic despite market stabilization and bullish recommendations from some in the industry. Meanwhile, Ripple is gearing up for growth if technical indicators are to be believed.
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..
Customers complain about high commission on Coinbase
Several clients of the Coinbase cryptocurrency exchange at once complained about the high commission when buying bitcoin. Information about this appeared in the thematic community on Reddit, where a user under the nickname IceColdSeltzer reported that the commission for the purchase of two bitcoins was $ 375.
As the user admitted, he would like to purchase more cryptocurrency, but with such a commission, the purchase of BTC is simply unprofitable.
Other Reddit users advised using Coinbase Pro, a specialized app for traders where the fees for buying cryptocurrency are slightly lower. However, Coinbase’s trading fees are indeed significantly higher than their nearest competitors. More details
Ripple cryptocurrency: fractal indicates the beginning of the rise
On March 25, XRP sharply broke through the support line of its long-term trading range and formed a bullish engulfing candlestick pattern the next day. Similar dynamics, which was realized in September last year, served as a harbinger of the beginning of growth, which subsequently amounted to 60%. Renowned trader @ Anbessa100 points to the XRP chart, signaling a large accumulation pattern near the level that could serve as a bottom. More details
Bitcoin addresses with 1+ BTC on balance updated historical maximum
The number of bitcoin addresses with at least one BTC on their balance has just renewed a record high. This confirms that the number of dedicated hodlers continues to grow even in the face of collapsing markets. The crypto community has received good news today. As it became known, even in conditions of panic in the markets and high volatility, the number of those who believe in Bitcoin continues to increase.
The number of members of the “whole bitcoin club” has reached almost 800 thousand addresses. More details
Bitcoin: head and shoulders pattern could trigger a decline
Over the past three days, Bitcoin has traded in the $ 6,500- $ 6,900 range with several unsuccessful attempts at its bullish breakout. A short-term bearish pattern may have formed on the charts. The bitcoin rate (BTC) has been moving along the upward support line since March 13. At the time of writing, he was close to testing it for the fourth time. More details
The number of unemployed in the US as an illustration of the impact of the pandemic
The colossal surge in the number of jobless claims in the United States clearly demonstrates the detrimental impact of the coronavirus epidemic on the world’s largest economy. Almost 3.3 million Americans applied for benefits last week alone. This is the sharpest increase in the indicator in the entire history of observations. The cumulative number of hits is four times the previous record high. More details
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