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🗞 Daily Crypto News, March, 1st 💰

76
5 years ago
in#bitcoin

  • Bitcoin Price Falls $1,400 in One Week — Is the Bear Market Back? ;
  • Chinese Crypto and Blockchain Firms Grapple With Coronavirus Outbreak ;
  • Coronavirus Impacts on Bitcoin (And the IRS’s Dumb Singularity);
  • Andrew Yang's Out, Who's the New "Crypto Candidate" for US President? ;
  • How Will Bitcoin Cash's Halving Affect the 4th Largest Network? ;
  • 🗞 Daily Crypto Calendar, March, 1st 💰
  • STEEM Trading Update

Welcome to the Daily Crypto News: A complete Press Review, Coin Calendar and Trading Analysis. Enjoy!

🗞 Bitcoin Price Falls $1,400 in One Week — Is the Bear Market Back?

This week the equity markets experienced their worst week in 12 years and as this meltdown took place the crypto market also took a hit.

Bitcoin (BTC) and the cryptocurrency market saw a significant selloff this week and this outcome is relatively reasonable given that people sell their assets out of fear of potential economic instability. Other safe-haven assets like gold and silver also saw a massive selloff on Friday.

Are the crypto markets going to find support in the coming weeks, or will we see a continued downtrend in momentum?

Selloff ensues after Bitcoin lost key support at $9,400

The price of Bitcoin found resistance at the $10,400 level, after which a test of the $9,400 support was heavily needed. The $9,400 level was unable to provide sustainable support and as the price fell through it this caused a significant selloff throughout the crypto market.

https://s3.cointelegraph.com/storage/uploads/view/ee5134e509169f0272d830de19b7d44a.

🗞 Chinese Crypto and Blockchain Firms Grapple With Coronavirus Outbreak

Chinese cryptocurrency exchanges and other blockchain companies are coping with a new reality as the coronavirus outbreak continues to disrupt their daily operations.

While crypto trading, customer service and marketing remain largely intact, the outbreak has taken its toll on technical upgrades, product development, logistics and business travel, according to a dozen executives in China interviewed by CoinDesk.

Following the outbreak, the Chinese government extended its Lunar New Year vacation by one week to Feb.10. Weeks later, a few major Chinese cities remain locked down, and many companies have asked their employees to work from home – including blockchain businesses.

🗞 Coronavirus Impacts on Bitcoin (And the IRS’s Dumb Singularity)

The best Sundays are for long reads and deep conversations. Earlier this week the Let's Talk Bitcoin! Show gathered to discuss Coronavirus and its potential impacts or disruptions to the decentralized world of bitcoin.

Later, we hear from correspondent George Ettinger about the indications of a "Dumb Currency Singularity" taking place at the IRS right now (also presented in full text below).

Podcast link here

🗞 Andrew Yang's Out, Who's the New "Crypto Candidate" for US President?

Andrew Yang emerged as a popular presidential candidate in the crypto community after making several very clear crypto-positive statements in several interviews. On February 11, however, Yang dropped out of the presidential race, leaving somewhat of a void for another potential “crypto candidate.”

In this article, we will introduce you to presidential candidates, who could potentially have a positive impact on the cryptocurrency and blockchain industry should they be elected president in 2020.

🗞 How Will Bitcoin Cash's Halving Affect the 4th Largest Network?

“The positive effect on price of this year’s halving threatens to be derailed by the looming split in the chain over the developer tax.”

“BCH's hashrate will also halve, as 50% of miners will switch from BCH to BTC."

Bitcoin Cash (BCH), the fourth largest crypto network by market capitalization, is halving in April. Yes, much like its bigger brother, the Bitcoin-forked cryptocurrency will be cutting the block rewards it dispenses to miners by 50%, from BCH 12.5 (USD 4,073) to BCH 6.25.

But according to a variety of industry players, Bitcoin Cash's halving may not have much of an effect on its price. Still, there's likely to be changes to Bitcoin Cash's hashrate, or the computing power of the network, as a result of its halving occurring before Bitcoin's, while the ongoing dispute over a potential 'developer tax' could magnify the longer term economic impact of the halving.

🗞 Daily Crypto News, March, 1st💰

  • DEEX (DEEX)

"On 1st of March 2020 Deex will launch its own blockchain in testing mode."

  • BitCash (BITC)

"The hard fork will switch BitCash from X16Rv2 to X25X, which is currently FPGA and ASIC resistant. X25X was created by Sinovate."

  • Aeternity (AE)

Starfleet India from March 1 - April 1.

  • Veros (VRS)

"SWAP VRS Token on the VEROS FP platform | March 1, 2020"

  • Auxilium (AUX)

Monthly interest distribution by Auxilium Interest Distribution Platform for coinholders. Also supporting charity.

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STEEM Trading Update by my friend @cryptopassion

Here is the chart of my last analysis :

Here is the current chart :

Today, we had a nice UP which broke 2 resistance line, the one at 0.19$ and the one around 0.23$. After these break, we went back lower than the resistance line at 0.23$. However, till now, it looks like the 0.19$ support line is still supporting us and we are currently doing a pull back on it. What we need now to validate that pull back is a nice bounce from that support line !

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5 years ago
vlemon76
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