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Crypto News March 7: Bitcoin is on track to return to the threshold of $ 8,400 with news of Ethereum, Ripple, Litecoin, Ethereum Classic, Cardano, Tezos, Stellar, PundiX, COTI, Chainlink, Binance, Bifinex, Brave

    From the perspective Bitcoin can return $ 8,400 to Binance.US to list USDC for deposits. Here are some highlights from the Crypto market.

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    Bitcoin news

    Trader Dave the Wave suggested that BTC is on track to return to the $ 8,400 threshold in the coming weeks, likely in April. He also posted a chart that accompanies this prediction, showing that Dave predicts this will happen because Bitcoin falls to a low level that will help it repeat the long-term curve model and BTC's overall trajectory over the past two years. .

    Bitcoin is gold 2.0 for the younger generation

    As the chief executive of a Bitcoin exchange, as well as precious metals like gold, silver and platinum, Demuth did not hesitate to call BTC Gold 2.0, or a better version of gold.

    As the demand for digital assets increases, so does the demand for precious metals: “That's why I always think Bitcoin is Gold 2.0 for the younger generation.” In addition to being scarce and full of features, he argues that cryptocurrencies are easy to liquidate quickly, there are many free options for money transfers and can be stored in everyone's pockets.

    BTC Future opens the gap at $ 11,700

    After the sideways trading period that Bitcoin earlier this week, it now seems that the standard cryptocurrency has once again entered another correction phase as it stabilizes in the region below $ 9,000.

    However, this correction may not last long, as BTC currently has a gap currently open on CME Future above the peak of this year, at the threshold of $ 11,700.

    While this does not mean that Bitcoin will no longer depreciate in the near future, the gaps being filled in markets signals that a new bull run to 2020 could be imminent. in the coming months.

    Trader CryptoBirb talked about this opening gap in a recent tweet, explaining that the BTC volatility over the past several months has led to all other gaps being filled.

    Bitcoin halving is coming soon

    The highly anticipated event, the highly anticipated Bitcoin Halving will happening at block 630,000. Currently, Bitcoin is at block 620,300, which means it is only 9,700 blocks away (approximately 65 days) from Bitcoin. Therefore, it is estimated that this event will take place on May 12.

    This event happens about every 4 years so the Bitcoin block reward will be halved. This time, the Bitcoin block reward will be reduced from 12.5 Bitcoin to 6.25 Bitcoin, which will theoretically cause a Bitcoin surge in the supply and demand rule.

    Bitcoin and XRP can repeat the history of extreme price increases

    A Twitter user called Crypto Joker after his on the Micro-blogging platform a few hours ago tweeted about Bitcoin and XRP's historical rise.

    In the tweet, he reminded the crypto community members of the days when BTC and XRP experienced parabolic price movements that helped them record the highest price of all time.

    In addition to the above points, over the past decade, Bitcoin has topped other performance assets, due to the uptrend sustained since its inception.

    He believes that the BTC price increase of 500% to 1000% and the price of XRP by 3000% may still be repeated this year.

    Ethereum News

    Sawcruhteez derivatives trader said that, if the $ 232 support level continues to hold, Ether could continue the uptrend it has seen since mid-December 2019 and test the July 2019 peak at $ 363.

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    ETH price chart | Source: TradingView

    On the way up, Ether can find resistance around the Fib 23.6% retracement, currently at $ 246. The chart shows that there are more than 492,000 addresses holding 1.3 million ETH around the price. this. That could make it harder for the bulls to overcome.

    However, the spike in demand will allow Ethereum to surpass the resistance of $ 246, thereby increasing the bullish outlook as presented by Sawcruhteez. If this happens, the next resistances will be at $ 286, $ 332 and $ 356.

    Ripple news

    XRP may make a sharp correction

    Veteran Trader, Peter Brandt, believes that XRP will be bound to a stronger correction on February 20. Although technical analysts are expecting the pullback will bring the digital currency back to $ 0.21.

    Over the past two weeks, the trend line has acted as a support barrier to prevent XRP from continuing to decline in four different times.

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    XRP price chart | Source: TradingView

    In addition, the 100-day moving average is very close to the established trend line, providing an additional layer of support for the coin. This support has become a strong barrier.

    As a result, falling below this level may cause fear for investors, who may panic, sell off, further pushing prices down.

    Conversely, the 200-day MA is also considered a resistance if the XRP price moves up, although the strength of this moving average has not yet been tested. A breakout or breakdown of this area will determine the next stop of XRP.

    Ripple and Coinone expand the remittance market in Korea

    The partnership between Ripple and Coinone is spreading and controlling a large portion of Korea's international money transfer market.

    Ripple's efforts to change the face of money transfers around the world have been internationally recognized. Especially in regards to cryptocurrencies and blockchain technology, Ripple easily surpasses most other companies seeking to consolidate money transfers with cryptocurrencies. RippleNet now boasts hundreds of partners and companies that continue to expand the network. Also, in the Korean market, Ripple is develope quite fast through Coinone, a cryptocurrency exchange based in South Korea.

    News Litecoin

    Litecoin has benefited greatly from the market rally since the beginning of the year and the price has increased by more than 116% since then. However, on February 13, it seems to have reached the peak of the market. This increased selling pressure, causing it to fall more than 33%, hitting the Fib retracement level of 50%.

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    Litecoin price chart | Source: TradingView

    This Fibonacci level represents an important opportunity to catch a bottom. If Litecoin can break out of this area with a sufficiently large trading volume, it could skyrocket and surpass recent yearly highs. By then, investors may return to the market, pushing its price higher.

    Regardless of the bullish outlook based on these technical indicators, investors must be cautious about the dangers as the price could breakdown the Fib retracement level of 50%. If LTC fails to hold this support, it can trigger a reversal from up to down.

    Ethereum Classic news

    Medium grayscale notification update your ETC Invest Trust investment report.

    Ethereum Classic is a global open source blockchain platform for decentralized applications (DApps), powered by smart contracts and embedded in a native digital currency, ether classic (ETC) ). On Ethereum Classic, code can be written to control the transmission of digital values ​​based on programming conditions without central agency intervention.

    News Cardano

    IOHK recently revealed the appearance of the team behind the successful development of the Cardano ecosystem at the PwC conference in London, UK.

    The development team includes Emurgo (commercial arm of Cardano), Cardano Foundation and IOHK. According to the report, the purpose of their appearance at PwC is to discuss Cardano's trading strategy and develop the network's main objective.

    “It is great to have Emurgo, Cardano and IOHK development teams joining the PWC conference in London to discuss trade strategies and develop key goals for Cardano.”

    News Tezos

    The Zabo development team has announced a $ 2.5 million funding round to continue its mission to bring cryptocurrency into the mainstream financial services market. The Tezos Foundation also participated in this investment round.

    According to the report, the investment round was led by Moonsshots Capital with the participation of Blockchange Ventures, Digital Currency Group, Castle Island Ventures, CoinShares, Capital Factory, Tezos Foundation, and others.

    The Tezos Foundation informed the event to its community members via Twitter, showing the company's excitement in joining Zabo's investment round.

    Stellar News

    The Weiss Crypto Rating has recently acknowledged the potential of Stellar Lumens compared to other cryptocurrency projects.

    The company mentioned Stellar's efforts to invest in Decentralized Exchange (DEX). It also states that Stellar is always the best project from a technology perspective, because it's fast, cheap, and has a high potential for decentralization.

    Weiss Crypto Rating comes to the conclusion when pointing out that Stellar's Consensus Protocol stands out from other crypto projects in terms of the number of TPS.

    "Stellar invests in DEX! From a technology perspective, Stellar has always been one of the best projects. It is fast, cheap and highly decentralized. Stellar's consensus protocol allows TPS up to 10,000. Most other projects have not yet done this. "

    News PundiX

    Pundi X, a provider of blockchain payment solutions, has announced the launch of CryptoID, the DApp offers users a payment platform, transferring real-time electronic money to fiat.

    Pundi X has partnered with Indonesia-based m-Bayar and E2Pay-based online payment application to integrate its services for CryptoIDR DApp.

    More than a dozen cryptocurrencies are available on CryptoIDR to convert to Indonesian Rupiah. After conversion, the money can be used on m-Bayar application to pay credit card bills and recharge mobile phones, transfer money, withdraw money from banks and even donate to organizations. nonprofit organization.

    COTI news

    Scott Melker, an experienced cryptocurrency trader, admits that the past two weeks have been one of the worst times the global market has ever seen. However, he has found profitable crypto investment opportunities at this time.

    Melker stated that even during a market downturn, a trader's portfolio can yield great returns if they invest in the right assets. Over the past two weeks in the global market, Hedera Hashgraph and Coti are the names he mentioned.

    HBAR, the native token of the Hedera public network, has increased by 58.3% in the past seven days. COTI, the assets of the COTI payment solution, increased 78.9% in the same period.

    News Chainlink

    LINK has superior performance than Bitcoin

    Since the beginning of the year, the leading altcoins on Binance such as ChainLink have recorded growth rates between 100% and 200%, while Bitcoin prices have increased only 50%.

    What drove the boom of altcoins like ChainLink and Tezos was the start of “price discovery.” Traders use the term “price detection” to describe price trends when an asset crosses the highest level and moves upwards to find new peaks.

    Over the past five weeks, ChainLink in particular has continued to set new highs, outperforming both Bitcoin and other major cryptocurrencies like Ethereum and XRP.

    Binance Future started a giveaway program for Chainlink trading users

    Follow an update given announced A few hours ago, on the official website of the Binance exchange, Binance Futures started a $ 70,000 giveaway program for users of permanent contract trading on the LINK / USDT pair.

    According to the report, the event will be held at 0:00 AM, March 6, 2020, at 0:00 AM and March 13, 2020. The airdrop will consist of two parts: the amount of BNB priced at 50,000 USD and 20,000. USD voucher Binance Futures.

    Binance news

    Binance.US lists USDC for deposits

    Binance exchange has listed USDC for deposits at US Branch, Binance.US, effective as of 9:00 PM EST, March 4. notification Given on the official website, users can easily convert to BUSD.

    With this event, Binance.US will allow users to start trading or holding BUSD. The conversion feature can be found in the “Buy Crypto” section of the homepage.

    The exchange also clarified that BTC / BUSD, BUSD / USD, ZIL / BUSD, XRP / BUSD, BNB / BUSD, ALGO / BUSD and ETH / BUSD trading pairs are available for trading from the official app, web and API.

    News Bitfinex

    Bitfinex has implemented permanent swaps on Tether Gold, a gold-backed digital token that allows opportunities to profit from price differences compared to exchanges.

    Bitfinex's launch of the Tether Gold permanent swap means that investors in digital assets will be able to bet on the price of gold and seek profit from the price difference appearing between the cryptocurrency space. and traditional financial system with leverage up to 100x. Futures trading starts on the Tether Gold / Tether pair today.

    The launch of futures contracts on Tether Gold will support many trading strategies, while also facilitating profit from the spread between Bitfinex and traditional exchanges such as Interactive Brokers.

    News Brave

    In a blog post published on March 5, 2020, the blockchain-enabled Brave Browser has announced the launch of a new browser-based Fingerprint Protection feature, available in its Nightly version.

    Follow notification Officially, Brave claims that its new fingerprint protection feature will be “unique”. Basically, it uses a randomized algorithmic approach via privacy that has been studied by various computer scientists. Notably, this is the first time that approach has been implemented in a mainstream browser.

    Viet Cuong

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