BTC started the month in the 9,000 level and we are days away from the anticipated halving of BTC. This might be an important event and could be a possible catalyst for BTC. Let's take a quick look at how price action is faring prior to this event. In the daily, price got rejected around 9,480 and found support around 8,400. Currently, price is around 8,600 and hovering within the range, while 10 EMA is looking to be a possible MA trail support. Moving on to the intraday chart (4H), the range is clearly seen with possible support around the 50 MA. If the range holds, there's still a probability for BTC to break past 9,000. Otherwise, a breakdown below 8,300 could push price down to 8,000 -7,800 and we'll see if it finds support around the area.
Global market cap is $242B, while BTC's market cap is at $159B.
Japan's Financial Services Agency (FSA) has accredited two local organizations as Certified Financial Instruments and Exchange Associations. The Japan STO Association and the Japan Virtual Currency Exchange Business Association (JVCEA) have been recognized as self-regulatory groups for derivative transactions and security token offerings of crypto assets.
Japan has also enforced the Financial Instruments and Exchange Law (FIEL). Under this law, every business offering crypto derivatives trading will be required to register as a Financial Instrument Business.
Ripple co-founder Jed McCaleb was found to have sold at least 54 million XRP during the whole month of April after analyzing his known wallets. Data shows that McCaleb regularly liquidated XRP, sending an average of 1.8 million tokens daily to a supposed wallet address that he uses to sell off his supply. In total, McCaleb sold 54,215,405 XRP from April 1-30, which is worth around $11.7 million.
McCaleb still has billions of tokens in his possession - approximately 4.7 billion of his original allocation of 9.5 billion XRP as of February 2020.
The cryptocurrency mining company, iMiner, has been granted license by Iran's Ministry of Industry, Mine and Trade, to operate in the country. According to a report, the Turkey-based company has a setup with 6,000 mining rigs capable of 96,000 terahashes per second (TH/s) in total, and each mining rig can produce 16 TH/s on average. The total amount invested in the project is nearly $7.3 million.
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