In the 175th Edition of the latest digital crypto magazine subscription, you will get to know all the weekly updates regarding the market. Visa Inc announced on Monday that it is running a pilot where it will allow its partner payment and crypto platform Crypto.com to settle transactions done on its payment network using cryptocurrency USD Coin. Visa plans to introduce this facility to its other partners in the future. This is a major boost to cryptocurrencies as it will increase the use of digital assets as a payment system in the real world.
However, Ray Dalio, the founder of the $150 billion hedge fund Bridgewater Associates, said to Yahoo Finance that every country wants to preserve its monopoly and does not want other monies to be competing or operating. Therefore, Dalio believes that Bitcoin will be outlawed similar to how gold was in 1934 by the Gold Reserve Act.
OUR BLOG ARTICLES FOR THIS SPECIAL ISSUE ARE
ATANI – A TOP CRYPTO TRADING TERMINAL
THE CBERRY PROTOCOL – CONTENT SHARING SYSTEM ON THE BINANCE
Bitcoin broke below the £38,355 support on March 25 but the bears could not crack the 50-day SMA support. This could have attracted sharp buying from the bulls and short covering from the bears who went short below £38,355.
The BTC/GBP pair rose back above the 20-day EMA on March 26, indicating the breakdown was a bear trap. On March 29, the bulls pushed the price above the downtrend line. If they can sustain the breakout, the pair may retest the all-time high at £44,238.
A breakout of the all-time high will signal the resumption of the uptrend, with the next target objective at £50,000. The upsloping moving averages suggest advantage to the bulls but the negative divergence on the RSI signals caution. Check out weekly crypto magazine subscription here.
The bears are unlikely to give up without a fight. They will mount a stiff resistance in the zone between £42,000 and £44,238. If the price turns down from this resistance zone and breaks the 20-day EMA support, the bears will again challenge the 50-day SMA.
Repeated retests of a critical support level tend to weaken it. Therefore, the next dip toward the 50-day SMA might break it. If that happens, the pair could start a deeper correction to £31,005.
The chart setup looks like the price may remain range-bound with a negative bias. Hence, we are not recommending any fresh long positions at the current levels. Check out our digital crypto magazine subscription for the latest updates about profit and loss in cryptocurrency.
Lastly please check out the advancement’s happening in the cryptocurrency world. If you want crypto magazine subscription then you can also contact us from here. We’ll contact you soon.
FEATURING IN THIS WEEKS EDITION
CRYPTO TRADE OPPORTUNITIES
BITCOIN – BTC/GBP
Bitcoin broke below the £38,355 support on March 25 but the bears could not crack the 50-day SMA support. This could have attracted sharp buying from the bulls and short covering from the bears who went short below £38,355. The BTC/GBP pair rose back above the 20-day EMA on March 26, indicating the breakdown was a bear trap. On March 29, the bulls pushed the price above the downtrend line. If they can sustain the breakout, the pair may retest the all-time high at £44,238. Read more
ETHEREUM – ETH/GBP
Ether has formed a symmetrical triangle, which generally acts as a continuation pattern and the breakout happens in the direction of the prevailing trend before the pattern was formed. In this case, as the trend was up before the formation of the pattern, we can expect the breakout on the upside. If that happens, the ETH/GBP pair could retest the all-time high at £1,456.18. A breakout and close above this resistance could result in a rally to the pattern target of £1,872. Read more
RIPPLE – XRP/GBP
XRP plunged on March 24 and broke below the moving averages. However, the positive sign was that the bulls did not allow the price to sustain the lower levels. They quickly bought the dip and pushed the price back above the moving averages on March 25. The bulls will now try to drive the price above the minor resistance at £0.43561. If they succeed, the XRP/GBP pair could rally to £0.48718. This level may act as a stiff resistance, hence traders may book partial profits near this level. Read more
CARDANO – LTC/GBP
Cardano remains stuck inside the £0.71001 to £1.07197 range. The bulls purchased the dip to the 50-day SMA on March 25 and pushed the price above the 20-day EMA on March 26. However, since then, the ADA/GBP pair has been trading in small range days, indicating indecision among the bulls and the bears about the next directional move. The flat 20-day EMA and the RSI just above the midpoint also suggest a balance between supply and demand. If the bulls push the price above £0.935, the pair may rally to the resistance of the range at £1.07197. Read more
BINANCE – BNB/GBP
The break below the 20-day EMA on March 25 was purchased aggressively, indicating strong demand at lower levels. Binance Coin has formed a symmetrical triangle pattern. If the bulls can push the price above the triangle and sustain the breakout, the BNB/GBP pair could rally to the all-time high at £249 and then to the pattern target at £326. Read more
VISA STARTS SETTLING USDC STABLECOIN PAYMENTS ON THE ETHEREUM BLOCKCHAIN
Payments giant Visa has announced it is now settling payments in the USDC stablecoin on the Ethereum blockchain, becoming the first major payments network to use a stablecoin as a settlement currency. According to Business Insider, Visa piloted the USDC payment option via cryptocurrency exchange Crypto.com, which will now be able to manage its crypto debit card business entirely in digital assets. Visa’s standard settlement process required the firm to settle in fiat currency, adding costs and complexity to its operation. Read more
KRAKEN’S DAN HELD SAYS ARRIVAL OF INSTITUTIONAL HERD COULD IGNITE INTENSE BULL MARKET
Institutional investors may usher in the most extreme portion of the Bitcoin bull market yet, according to Kraken’s growth lead Dan Held. In a lengthy Twitter thread, Held tells his 164,000 followers that Bitcoin is rapidly attracting institutional investors that could add trillions of dollars of value to the market. Read more
THE PANDEMIC IS TURNING FRACKING COMPANIES INTO BITCOIN MINERS
In 2018, the global cryptocurrency market had crashed, and Sergii Gerasymovych was looking for a way to keep his Bitcoin mining company afloat. He eventually settled on a plan to make money while cleaning up two notoriously climate-polluting industries.
JAPANESE BANK SUMITOMO MITSUI LAUNCHES THE COUNTRY’S FIRST ‘A-1’ RATED SECURITY TOKEN
Sumitomo Mitsui has partnered with Securitize to launch Japan’s first security token that complies with the country’s Financial Instruments and Exchange Act. Japan-based bank Sumitomo Mitsui Trust Bank, or SMTB, has launched its first asset-backed securities token in partnership with Securitize on March 29. The instrument is the first security token compliant with the Financial Instruments and Exchange Act (FIEA) to launch in the Japanese Market. The token has received an “a-1 rating” from Japanese rating agency, Rating and Investment Information, Inc, suggesting the product is very likely to fulfill its short-term obligations.
ATANI – A TOP CRYPTO TRADING TERMINAL
Atani is a crypto trading terminal for cryptocurrency investing born in 2019 between London, Madrid, and Barcelona. It’s a trading platform invented to solve some of the major inconveniences faced by serious cryptocurrency traders. These problems include executing trades using multiple exchange terminals and applications, also having to invest a lot of money in different types of trading tools. Before diving deeper into what Atani is all about, it’s good to start from the beginning of what made it come to be: the problem. Read more
CONTENT CREATOR REWARDS EARN MORE FOR CONTENT – CBERRY DEFI ECOSYSTEM
What is CBerry Protocol?
CBerry protocol is a content sharing system that uses blockchain technology, and it runs on the Binance Smart Chain. The users or members of this platform are rewarded with the tokens CBY and CBR. Users can also be tipped using these tokens for any quality content they share. The CBerry protocol has incorporated Decentralized Finance Swap (DeFiSwap) and a Loan infrastructure for solid content creation and a rewarding ecosystem. CBerry’s main goal is to become the most rewarding and stable content creation terminal running on blockchain technology. Before delving deeper into CBerry protocol, first look at the problems faced by the normal content sharing platform. Read more