BTC was able to reach a high around $6,900 in the previous days. In the daily, price is back below $6,000 again; immediate support is around $5,500 and key support sits around $4,500 - $3,500. Looking in the 4H, price is nearing the 50 MA; a break below this MA is a could possibly bring price back to $5,500 - $4,500 range (creating a lower high). If price fails to reclaim and hold price above $6,000 level again, we might see a return to sub $5,000 level. Invalidation: strong bounce to $6,000+.
Global market cap is at $164B, while BTC's market cap is at $106B.
The Italian Red Cross' BTC fundraising campaign hit their goal of raising 10,000 Euros after just three days, with Red Cross now announcing that they have begun purchasing the materials needed to deploy pre-triage facilities. They are now also continuing their BTC fundraiser, with the goal of raising an additional 25,000 Euros to purchase equipment for emergency operations, such as a defibrillator with a vital signs monitor.
Coinbase's site traffic experienced a massive surge in 24-hour trading volume during the previous week's market swings driven by the ongoing global health crisis (COVID-19). The exchange processed around $2 billion in crypto last March 19 and 20 - prior to this, the exchange processed $394 million in volume over the past 24 hours.
According to the company, it has been preparing for a crisis "for the last couple years" and this hard work contributed to their stability while other platforms in crypto and traditional equities struggled with the increase in volume.
nternational Monetary Fund (IMF) Deputy Managing Director, Tao Zhang, briefed the positives and negatives of a central bank digital currency (CBDC) in a recent keynote speech to the London School of Economics. Zhang pointed out several benefits of a CBDC, including greater efficiency and lower costs, increased financial inclusion, a strengthened monetary policy, and the possibility of acting as a combatant to other digital assets (e.g. stablecoins), which may be difficult to regulate.
Zhang also touched on the potential risks and drawbacks of a potential CBDC, such as incurring heavy expenses, several potential security risks, and risks to the reputations of central banks should operations be impeded or face hacks or other faults.
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