Bitcoin managed to get a quick relief or pause after the price crash to $3850 In the daily, BTC was able to find support around 3,500 and resistance around 5,900. The 5,900 level was tested twice, indicating that sellers are still strong near the 6,000 level. Looking in the intraday chart (4H), resistance remains at 5,900 and there's 2 intraday level of supports; an immediate support around 4,700 and a key support around 3,500. A break below 3,500 could push price down to new levels of support. Overall, the market is still shaky and could possibly carry on for the next days as the global coronavirus outbreak continue to affect global economies.
Global market cap is at $139B, while BTC's market cap is at $89B.
The Italian Red Cross and the Colli Albani Committee are raising donations in Bitcoin and other cryptocurrencies to fight the country's coronavirus pandemic. Proceeds from the campaign will be used to set up a second-level advanced medical post for pre-triage for COVID-19 cases in the country. They expect to reach a goal of €10,000 to buy medical equipment and to cover the fees of medical staff.
A former Bitcoin miner discovered an old wallet containing 1,000 Bitcoins. On March 10, a user named "whoamisoon" posted a thread on Bitcointalk seeking help on accessing old Bitcoin stash and other forked coins. The user claimed that the stash was mined "a long time ago" using GPU and had recently located the wallet.dat file on a USB.
On the same day, it has been identified that 1,000 BTC is moving on the Bitcoin blockchain and appears to be sent to a Coinbase wallet. According to a report by Cointelegraph, it appeared that the user may have liquidated the stash prior to March 13; cashing out between the price range of $7,500 - $8,000, which equated to around $7.5 million to $8 million. Other forked coins liquidated may have added roughly $500,000.
Cryptocurrency exchange Coinbase will begin offering Bitcoin transaction batching for its customers, which will reduce the load on the network and could save users up to 50% on transaction fees. Transaction batching will allow single on-chain transactions of cryptocurrencies to be bundled into one. The move will require "no action from customers."
This Daily Dose is brought to you by SCI News Channel.