🗞 Daily Crypto News, April, 23rd

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Bitcoin ‘Potential Breakout’ at $7.2K but Watch VIX Volatility ;
3 Ways Ethereum’s Bullish Structure May Prevent a Bitcoin Downtrend ;
Huobi lists Hive and announces a Deposit contest ! 😍
Starbucks, McDonald’s Among 19 Firms to Test China’s Digital Yuan: Report ;
Stablecoins Aren’t Inflating Crypto Market, Study Concludes;
China’s Rainy Season Is Coming. This Time Bitcoin Miners Aren’t Investing ;
🗞 Daily Crypto Calendar, April, 23rd 💰
Bitcoin Trading Update

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

🗞 Bitcoin ‘Potential Breakout’ at $7.2K but Watch VIX Volatility

Bitcoin (BTC) is flipping its 50-day moving average (MA) to support and eyeing $7,200 for a “potential breakout,” a new report has concluded.

Published on April 22, Delphi Digital’s latest market report concluded that signs were turning more bullish for BTC/USD.

Dollar “refuses to collapse”

Having regained $7,000 on Wednesday, the pair managed to broadly preserve its position above the 50MA, which had previously acted as resistance.

All eyes on VIX vs. BTC

As Cointelegraph reported, Bitcoin remains susceptible to stock market volatility, but nonetheless is pushing to regain its start-of-year position at $7,200. Should it succeed, in-house analyst filbfilb forecast, more upside could be in store before May’s pivotal block reward halving.

🗞 3 Ways Ethereum’s Bullish Structure May Prevent a Bitcoin Downtrend

Ether price has rallied 114% since March 13 and the altcoin could be on the verge of rallying higher. Increased activity on the Ethereum blockchain and the approaching ETH 2.0 launch appear to be bolstering Ether price and these factors could also benefit Bitcoin’s price action.

Unlike Ether (ETH), the Bitcoin (BTC) price is seeing a technically bearish structure in the form of a lower high. This means the BTC daily candle closed at a lower point from where it was earlier this month. Typically, lower highs at a high time frame like the daily chart can leave an asset vulnerable to a correction.

Ether notches higher highs

Ether is currently showing price action that differs from Bitcoin. The top altcoin has seen a higher high, as the most recent daily candle closed significantly higher than in early February.

🗞 Huobi lists Hive and announces a Deposit contest ! 😍

Happy Thursday dear Hivians,

I guess @huobi and @ciara did not hesitate as just a few hours after the AMA, they decided to list our beloved Hive Token on their platform !

They are also launching a "deposit contest" that you can find here

To celebrate the listing of HIVE, Huobi Global will launch the “Deposit HIVE on Huobi Global to Share 100,000 HIVE!” promotion.

... Full Post

🗞 Starbucks, McDonald’s Among 19 Firms to Test China’s Digital Yuan: Report

Starbucks and McDonald's are reportedly among 19 restaurants and retail shops that will be involved in testing China's central bank digital currency in the country's Xiong'An new district.

The Reformation and Development Commission of the Xiong'An district in Hebei province reportedly convened a meeting on Wednesday regarding the rollout of a pilot for China's digital yuan initiative, a local news outlet reported on Thursday, citing a government document.

The move signals China's wider efforts to test out the digital currency project, with state-owned commercial banks already developing wallet applications for the digital yuan, also known as DC/EP.

🗞 Stablecoins Aren’t Inflating Crypto Market, Study Concludes

Stablecoin issuances do not push up the price of bitcoin or other cryptocurrencies, according to research funded by University of California Berkeley’s Haas Blockchain Initiative.

In their report, issued Friday, Richard Lyons, U.C. Berkley’s chief innovation and entrepreneurship officer, and Ganesh Viswanath-Natraj, assistant professor of finance at the Warwick Business School, found stablecoins serve as tools for investors to react to market movements and not as drivers of price inflation or collapse. Their analysis of trading data shows flows are consistent with investors using stablecoins as a store of value during periods of risk or price depreciation.

Lyons and Viswanath-Natraj also found “strong evidence” of another catalyst for flows from issuer treasuries to secondary markets: arbitrage trading when stablecoins deviate from their pegs.

🗞 China’s Rainy Season Is Coming. This Time Bitcoin Miners Aren’t Investing

Spring is usually a welcome time of year for bitcoin mining businesses in China. The upcoming rainy season brings excessive hydropower, making electricity cheap and mining more profitable ... all else equal.

This year, however, two key variables have changed, upending the calculus for operators of mining facilities and for miners themselves in the world’s hub for this activity.

After recovering from March’s brutal selloff, bitcoin’s price has been stagnating around $7,000. As a result, mining farms that offer hosting services are struggling to find enough customers to fill capacity.

🗞 Daily Crypto News, April, 23rd💰

VeChain (VET)

"Live AMA with CEO & Co-founder of VeChain Sunny Lu on @cryptocom 's Telegram Channel t.me/CryptoComOfficial on 23 Apr, 4PM HKT."

Horizen (ZEN)

Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA.

Dash (DASH)

"Dash Core Group Q1 2020 Summary Call - Thursday, 23 April 2020"

Crypto.com Coin (CRO), VeChain (VET)

"Live AMA with CEO & Co-founder of VeChain Sunny Lu on @cryptocom 's Telegram Channel... 4PM HKT"

Bitcoin Trading Update by my friend @cryptopassion

Here is the chart of my last analysis :

Here is the current chart :

As you can see, we didn't break the cloud in red and we are still inside and we are having a bounce from the lower line of it. We have even the opportunity to break back the superior line of that triangle and to make a UP so let's see what the market will decide.

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