Daily Dose: Decoupling, Or Dead-cat-bouncing? Bitcoin rallied yesterday, going up around 20% and hitting a high of around $6,400. Prices have remained relatively steady since then, hovering at around $6,300 throughout the day. Looking at the 4H chart, BTC is looking to push through this level at around $6,200 - $6,600 and could eventually retest the levels we were at last week before the sudden drop. Failure to do so, in what could be a dead cat bounce, could mean that BTC looks to consolidate and establish a new range, or goes back to the lower range of around $5,200 - $5,500.
Several talks of Bitcoin decoupling from the global financial market, most especially the S&P 500, are also in play - with BTC recovering ~40% from last week's crash while traditional markets are still struggling to bounce back.
Global crypto market cap is at $178B, while BTC's market cap has risen back up to $115B.
The World Health Organization is another target of Bitcoin COVID-19 scammers https://t.co/UTBS0Q4izK — Cointelegraph (@Cointelegraph) March 20, 2020
Online scammers are now impersonating the World Health Organization (WHO) in an attempt to steal cryptocurrency donations to fight the coronavirus (COVID-19) pandemic. According to cybersecurity firm Sophos, these fraudsters are trying to mislead people into sending them Bitcoin as a donation to WHO's COVID-19 Solidarity Response Fund. The fake request uses a forged email address, asks potential donors to donate BTC directly to an address in the email, and does not refer to the WHO website.
Italy's Banca Sella plans to launch Bitcoin trading service amid the lockdown. The initiative is encouraged by growing crypto adoption and the COVID-19 outbreak. With the on going public health crisis, the bank is using growing interest in Bitcoin to provide an option to safely transfer money internationally. The trading service will be conducted via the bank's Hype platform acting as intermediary to carry out transactions. Banca Sella's clients will be able to buy and sell Bitcoin and also be able to pay for goods and services with cryptocurrency.
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