🗞 Daily Crypto News, March, 24th 💰

Into the Unknown: No Limit on Fed Money Injections;
Bitcoin Price Turns Bullish as Traders Fight to Flip $6,400 to Support;
Baidu and Google Trends See Increased Interest in Purchasing Bitcoin;
House Stimulus Bills Envision ‘Digital Dollar’ to Ease Coronavirus Recession;
Over 172 Million Weibo Users' Personal Data Is For Sale on Dark Web
🗞 Daily Crypto Calendar, March, 24th 💰
STEEM Trading Update

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

🗞 Into the Unknown: No Limit on Fed Money Injections

The Federal Reserve pledged Monday to buy bonds in an unlimited quantity while allocating at least $300 billion to new emergency-lending programs. These measures are being taken as Wall Street reels from fresh predictions of a steep drop-off in economic output due to coronavirus-related lockdowns, business disruptions and job losses.

“The coronavirus pandemic is causing tremendous hardship across the United States and around the world,” the central bank said in a statement on its website. “Aggressive efforts must be taken across the public and private sectors to limit the losses to jobs and incomes and to promote a swift recovery once the disruptions abate.”

The expanded liquidity injections signaled the Fed’s willingness to go beyond even the already-dramatic steps taken in recent weeks to keep traditional Wall Street stock and bond markets from convulsing. In a previously unscheduled meeting on March 15, policymakers led by Chair Jerome Powell slashed short-term interest rates close to zero, just days after pledging to inject $1.5 trillion into the financial system via short-term loans to Wall Street dealers.

🗞 Bitcoin Price Turns Bullish as Traders Fight to Flip $6,400 to Support

.Bitcoin (BTC) price perked up today, rallying from $5,688 to a daily high at $6,600. The digital asset defied the worst fears of analysts by holding above the $5,400 support and currently Bitcoin continues to show growing strength in the face of wilting equities markets.

Interestingly, gold and silver prices also rallied 4.42% and 5.94% as the S&P500 and Dow closed the day with moderate losses. This could indicate that market participants who recently exited their stock positions could be looking for shelter and growth in store-of-value assets.

Thus, crypto investors will be closely watching to see if Bitcoin’s price action separates itself from that of traditional markets.

.At the time of writing, bulls are defending the $6,400 resistance in order to secure a daily close above the resistance. For days now, analysts have advised that the $6,400 resistance needs to turn support and while today’s rally to $6,600 is encouraging, traders will be watching to see if there is enough purchasing volume to support the current momentum.

🗞 Baidu and Google Trends See Increased Interest in Purchasing Bitcoin

Don’t worry — this time there’s news coming out of China that isn’t connected to the coronavirus outbreak.

With so many people around the world working from home, social distancing, and self-quarantining after possible exposure to COVID-19, online searches surrounding cryptocurrencies have gotten a bump.

According to a report available to Cointelegraph, the Chinese search engine Baidu has seen a considerable jump in searches for “Bitcoin” (BTC). The data index shows searches for BTC increased by 183% over the past thirty days, while the number of those looking for information on the cryptocurrency on mobile devices also shot up.

The interest may be related to the theory that a global economic meltdown may lead to a growing value for the cryptocurrency as a hedge against the banks.

🗞 House Stimulus Bills Envision ‘Digital Dollar’ to Ease Coronavirus Recession

Proposed legislation meant to shore up the U.S. economy during the coronavirus pandemic includes a recommendation to create a digital dollar.

This virtual greenback would help individuals and families survive the shutdown of businesses and series of “shelter-in-place” orders which resulted in skyrocketing unemployment claims and a potential severe recession.

Under the draft bills shared last week, dubbed the “Take Responsibility for Workers and Families Act” and the “Financial Protections and Assistance for America’s Consumers, States, Businesses, and Vulnerable Populations Act,” the Federal Reserve – the nation's central bank – could use a “digital dollar” and digital wallets to send payments to “qualified individuals,” consisting of $1,000 for minors and $2,000 to legal adults.

🗞 Over 172 Million Weibo Users' Personal Data Is For Sale on Dark Web

Chinese social media giant saw a massive data breach result in data of millions of users available for sale on the dark web.

According to a March 19 report from Chinese blockchain news outlet Jinse, basic account information of 172 million users was available, priced at 0.177 BTC. The account information for sale included user ID, number of Weibo posts, number of fans and followers, gender and geographical location.

Weibo confirmed the privacy issue yet deleted the post later on
According to Jinse, Weibo’s security director Luo Shiyao responded to the incident in a now-deleted post, explaining that:

“Users' mobile phone numbers were leaked through forced matching with an address book API in 2019. The rest of the public information was scraped on the web.”