Breaking News from Crypto Business World (CBW) – June 16, 2020
Cryptocurrency news for today June 16
Technical indicators point to further Bitcoin recovery
China conceived to create a pan-Asian cryptocurrency in opposition to the dollar and Libra
Bitcoin enthusiasts again link Bitcoin’s rise to the crisis
Bitcoin rallied slightly from recent lows, but still far from target. Technical analysts spotted a hammer pattern on the charts and reassured the bulls, but it should be confirmed. In addition, Elliott waves also paint an optimistic picture. Meanwhile, China has conceived a pan-Asian digital currency to compete with Libra.In June 2019, Facebook announced preparations for the release of the Libra digital currency. The social networking project immediately attracted attention … More. the coin will be pegged to a basket of currencies, which will include the Japanese yen, yuan, Hong Kong dollar and South Korean won.
Read about the situation in the cryptocurrency market, as well as about the key events that have occurred in the cryptocurrency industry over the past day, in our daily digest..
Bitcoin price: hammer figure gives bulls hope
On June 15, Bitcoin initially fell, forming a long bottom wick and dropping below the 50-day moving average. Quotes marked a minimum at $ 8,900, but soon recovered, returning beyond the mentioned moving average and forming a bullish hammer in the process. This is a bullish signal, which suggests a further rise in quotes. If so, near-term long-term resistance is expected to be around $ 9,900. However, it is worth noting that yesterday’s close exceeded the previous bearish candlestick, so the forecast looks not so cloudless. More details
Supply volume of stablecoins increased by 94% in three months
Over the last four months of 2020, the supply of dollar-backed stablecoins increased 94% from $ 5.7 billion in February to $ 11 billion in June. Over the past four months, the total supply of stablecoins on the market has increased by as much as 94% – from $ 5.7 billion in February to $ 11 billion in June. For more information on what stablecoins are and how they work, read our review. More details
China wants to create a pan-Asian digital currency and crush Libra
The idea of creating a pan-Asian digital currency to counter Libra and the US dollar was invented in the private sector, however, the Nikkei Asian Review writes that this idea found support in the government. The project, presented on May 21 at a meeting at the China People’s Political Consultative Conference (CPPCC), involves the creation of an East Asian digital currency based on a basket of Asian currencies: the Chinese yuan, Japanese yen, South Korean won and Hong Kong dollar. More details
Global Crisis Coming, Stock up on Bitcoin: Crypto Michaël Interview
In an exclusive interview with the BeInCrypto editorial staff, the popular trader and analyst shared his opinion on the upcoming global financial crisis and the prospects for bitcoin. The global financial crisis is already on the horizon. The coronavirus pandemic has brought most of the world’s economies to their knees, simultaneously exposing many of the fundamental flaws in traditional economic and monetary systems. It’s time to stock up on bitcoins. At least, this is the opinion of the popular Dutch trader and analyst. More details
Cryptocurrency map shows where most of the BTC is stored
First of all, researchers at Blockchaincenter.net determined which of the more than 2000 existing coins are really interesting to users. The list came as no surprise: Bitcoin remains the most attractive cryptocurrency for users. The top 10 also includes Ether, LTC, Tron, Bitcoin Cash, Cardano, IOTA, Dogecoin. Note that bitcoin accounts for 80.8% of all user interest. ETH lags behind MTC several times with an interest rate of 13.7%. Surprisingly, none of the stablecoins made it to the list. With … More. More details
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