27th April Crypto News | Subscribe to Latest Issue of Crypto Magazine

The crypto markets had a roller coaster ride last week as the price plunged to a low of £33,705.58 on April 25 but came roaring back on April 26 with a near 10% rally. Several factors played their part in dampening the sentiment last week.

During Bitcoin’s rally to the new all-time high of £47,240.05, traders had become complacent and had used excess leverage as seen from the record crypto futures liquidation on April 18. Additionally, the short-term traders who may have purchased in the run-up to the Coinbase Nasdaq listing may have booked profits.

OUR BLOG ARTICLES FOR THIS SPECIAL ISSUE ARE
HOW JUNCA SUPPORTS INTERNATIONAL MONEY TRANSFER FOR OFWS IN
THE PHILIPPINES?
A TOP PRIVACY COIN – STEALTH THE FASTEST PRIVATE DIGITAL CURRENCY
&
HOW IS DEFIBIDS A ROBUST SOLUTION FOR AUCTIONING CRYPTOS AND DEFI?

Bitcoin slipped and closed below the £36,777 support on April 24 but the bears could not extend the decline to £31,005. The price reversed direction from £33,705.58 on April 25 and soared back above £36,777 on April 26. After the initial bounce, the bulls are unlikely to have an easy path higher. The bearish crossover on the moving averages and the RSI still in the negative territory suggests the bears have the upper hand.

The relief rally is likely to face stiff resistance at the moving averages. If the price turns down from the 20-day EMA, it will suggest that traders are liquidating their positions at higher levels.

That could pull the price down to the critical support at £36,777. If this support cracks, the risk of a decline to £31,005 increases. The deeper the decline, the longer it will take for the BTC/GBP pair to stage a recovery and challenge the all-time high.

This negative view will invalidate if the pair climbs above the moving averages. Such a move could open the doors for a retest of the £44,238 to £47,240.05 overhead resistance zone. Subscribe to latest issue of crypto magazine for the latest updates about profit and loss in cryptocurrency.

Lastly please check out the advancement’s happening in the cryptocurrency world.

Featuring in this weeks Edition

– Junca Global
– DeFi Bids
– BitcoinVend
– Stealth
– Cberry
– QoinIQ
– Aubit
– Atani

CRYPTO TRADE OPPORTUNITIES

 

BITCOIN – BTC/GBP

Bitcoin slipped and closed below the £36,777 support on April 24 but the bears could not extend the decline to £31,005. The price reversed direction from £33,705.58 on April 25 and soared back above £36,777 on April 26. After the initial bounce, the bulls are unlikely to have an easy path higher. The bearish crossover on the moving averages and the RSI still in the negative territory suggests the bears have the upper hand. Read more

ETHEREUM – ETH/GBP

We had projected that bulls will try to stall the decline between £1,456.18 and the trendline and that is what happened. The biggest altcoin rebounded off the £1,456.18 support on April 20. The momentum picked up and the bulls pushed the price to a new all-time high of £1,905.49 on April 22. However, the bulls could not sustain the breakout and the price slipped back below £1,850 on the same day. Read more

RIPPLE – XRP/GBP

XRP plunged to the 50-day SMA on April 23 but the long tail on the day’s candlestick suggested the bulls purchased this dip aggressively. The failure of the bears to break the 50-day SMA support could have attracted dip buyers who pushed the price back above the 20-day EMA on April 26. The rebound in the XRP/GBP pair is likely to hit a wall at the 61.8% Fibonacci retracement level at £1.11603. If the price turns down from this level but rises off the 20-day EMA, it will suggest that traders are buying on dips. That may increase the possibility of a further rally to £1.25495 and to £1.43191. Read more

CARDANO – LTC/GBP

Cardano continues to trade between £0.71001 and £1.07197. The price had dipped to the support of the range on April 23 but the long tail on the day’s candlestick suggests that the bulls purchased this drop aggressively. The bears made one more attempt to sink the price below £0.71001 on April 25 but the bulls again purchased at lower levels. This shows that traders are aggressively defending the £0.71001 support. Read more

BINANCE – BNB/GBP

The bulls are buying Binance Coin at the 20-day EMA but the bears are offering a stiff resistance above £425. The price is currently sandwiched between the downtrend line and the 20-day EMA. Both moving averages are sloping up and the RSI is above 58, suggesting the bulls have the upper hand. If the buyers can push and sustain the price above the downtrend line, the BNB/GBP pair could retest the all-time high at £465.76. Read more

Tesla books huge profit from Bitcoin sale in Q1

In February, the electric vehicle maker announced it had purchased $1.5 billion worth of Bitcoin. Tesla Motors sold a portion of its Bitcoin (BTC) holdings in the first quarter of 2021, generating net proceeds of $272 million, the electric vehicle maker reported Monday. In a 30-page slide deck accompanying its quarterly financial results, Tesla noted a $101 million “positive impact” as a result of its Bitcoin sale: Read more

Crypto community donates over $1.7 million in Ethereum and ERC20 tokens towards India’s coronavirus fight

Cryptocurrency holders and builders from around the world are pitching in funds to help India battle with the rising number of cases in the country, data and tweets from multiple sources show. This weekend, Ethereum co-founder Vitalik Buterin donated over $640,000 worth of Ethereum (ETH) and Maker (MKR) towards a crypto-focused relief fund to fight the coronavirus situation in India. Read more

PayPal CEO: Demand for Cryptocurrency Much Higher Than Expected

PayPal CEO Dan Schulman revealed that user demand for cryptocurrencies on the platform is even higher than anticipated. Schulman noted that the coronavirus pandemic has greatly accelerated the digitalization of payments across the globe. Just a few months after payments giant PayPal launched buying and selling features for Bitcoin and other cryptocurrencies, user demand for digital assets on the platform has already exceeded the company’s expectations “multiple-fold,” revealed CEO Dan Schulman. Read more

Binance To List Microsoft (MSFT), Apple (AAPL), MicroStrategy (MSTR) as Tokenized Stocks

The exchange said it would list Microstrategy (MSTR), Apple (AAPL), and Microsoft (MSFT) stocks as tokenized tokens, per a notice posted on its website. This follows the earlier listing of Coinbase and Tesla tradeable tokens listed earlier this month. Binance’s stock tokens are referred to as tokenized equities that can be traded on traditional stock exchanges. Read more

CBERRY, CRYPTOS FIRST CONTENT PLATFORM ON THE BINANCE SMART CHAIN

Content creation and consumption is a vital part of the human ecosystem. For most people, they utilize their social media accounts even without getting rewarded.

“Contents are everywhere, we see them on TV, blog posts, our social media etc. What isn’t common is monetization of contents for the makers and the consumers” Read more

BITCOINVEND – PUTTING THE CURRENCY INTO CRYPTOCURRENCY, FOR EVERYONE!

BitcoinVend is going back to Bitcoin roots, we all know Bitcoin was invented to facilitate trust-less trade on a global scale, establishing a currency which could be global without third party intervention. For a currency to have sustainable long-term value, one must be able to spend it easily on necessities or desirable items. So far this has been difficult, time consuming and expensive for the average Crypto user. Read more

 

HOW JUNCA SUPPORTS INTERNATIONAL MONEY TRANSFER FOR OFWS IN THE PHILIPPINES?

Cryptos are essentially digital currencies that aren’t regulated or issued by any centralized authority, like the government. When cryptos are decentralized, all the transactions made in cryptocurrencies are verified using blockchain tech. Blockchain is defined as a decentralized, distributed, public ledger. It is a secure method used for storing data and cannot be manipulated without detection. One of the biggest beneficiaries of both cryptos and the underlying technology (blockchain) that supports it is the Fintech sector. The Fintech industry has witnessed massive transformation with the advent and growth of cryptocurrencies. Read more

 

A TOP PRIVACY COIN – STEALTH THE FASTEST PRIVATE DIGITAL CURRENCY

A top privacy coin is hard to come by but a few have gained a great deal of prominence in the past couple of years. Many traders have become interested in these coins owing to their capability to offer anonymity. Another reason behind the increased interest in privacy coins is that today public wallets can be viewed by anyone. Read more

HOW IS DEFIBIDS A ROBUST SOLUTION FOR AUCTIONING CRYPTOS AND DEFI?

The crypto market has witnessed dramatic market capitalization, surpassing the US 3 billion dollar mark. As a result, a growing number of companies and projects have been launched in the crypto space to offer products & services that require people to use cryptocurrencies. This has also encouraged many people to participate in cryptocurrency investing, allowing the crypto companies to build a robust infrastructure for blockchain and Defi applications. Read more