Crypto News: April 9: Bitcoin could reach $ 8,000 in the short term with Ethereum, Ripple, HUSD, Cardano, XTZ, IOTA, BCH, Ontology, Coinbase, Overstock, ICON news







From the point of view Bitcoin is heading towards the threshold of $ 8,000 to the expected Overstock OSTKO airdrop date. Here are some highlights from the crypto market.


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Bitcoin news


The price of BTC seems to be forming a short-term peak pattern near the $ 7,440 level. The last peak formed below the $ 7,440 threshold and the price is currently trading below the Fib 23.6% retracement of the rise from as low as $ 7,080 to $ 7,429.


More importantly, the price has broken below the key uptrend line with support near $ 7,300 on the hourly chart. The support at $ 7,255 is close to the 50% Fib retracement level. If the bears sink below the $ 7.255 threshold, the bears have the ability to control the market in the short term.


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Bitcoin price chart | Source: TradingView


The next major support will be near the $ 7,150 level and the 100-hour SMA, below which the bulls are likely to defend the support zone of $ 7,100. If the bulls fail to sustain the support zone of $ 7,100, the price will likely continue lower, below $ 7,000. The next stop is probably the threshold of $ 6,800.


On the other hand, Bitcoin is facing strong resistances near the $ 7,400 and $ 7,500 levels. Therefore, the bulls need to gain momentum above the $ 7,500 zone. If the breakout price succeeds and closes above the $ 7,500 threshold, the BTC price could continue to climb to $ 7,600. The next major resistance level is near $ 7,800, above which the bulls can target to test the $ 8,000 threshold.


  • The hourly MACD is losing momentum in the bullish zone.

  • The hourly RSI is now below 50.

  • Major support levels: $ 7,150 then $ 7,100.

  • Major resistances: $ 7,400, $ 7,500 and $ 7,800.

Other flash crash may occur


While former Wall Street trader, Tone Vays predicts Bitcoin will rise, there is one who thinks the market will be in red.



Trader and macro economist Henrik Zeberg, recently tweeted that Bitcoin looks very fragile at $ 7,200. This led him to predict that another flash crash might occur.


Bitcoin is the door to help the world overcome crisis


Entrepreneur, millionaire and author of "Rich Dad, Poor Dad", Robert Kiyosaki, mentioned Bitcoin several times in an interview with Morgan Creek Digital co-founder Anthony Pompliano. He sees property as a way out of the world economic crisis.


Kiyosaki pointed out that gold, silver and Bitcoin are ways to get rid of inflation and control the struggling financial system.


“The reason is, you have left the central banking system - you are an outsider. I think gold and silver are God's money, and Bitcoin is open source for everyone. "


(embed) https://www.youtube.com/watch?v=73a1f5nIi8E (/ embed)


Whale moves Bitcoin


Whale Alert announced that 15,318 BTC (worth about $ 111.8 million) have been moved from Okex and Bitfinex to unknown wallets.


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Whale moves Bitcoin | Source: Whale Alert


Ethereum News


It seems that $ 165 acts as a support and the price of ETH is still 100 hours above the simple moving average (SMA). The recent high was formed near the $ 173 threshold and the price is currently correcting below the Fib 23.6% retracement of the recent wave from $ 165 to $ 173. However, there is strong support formed near the $ 170.


ETH is currently forming a triangle pattern with resistance near $ 174 on the hourly chart. If the price can break out of the resistance of the triangle pattern, it can start to surpass $ 175. There will be resistance near the $ 180 level, above which the bulls are likely to aim for a step up. bigger towards resistance at $ 195 and $ 200.


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ETH price chart | Source: TradingView


On the downside, ETH has an initial support near $ 170 and the downtrend line of the triangle. If the price closes below this level, it can start a wave of price drops below $ 168.


The next support is near the $ 165 level, below which, the bears are likely to retest the support zone of $ 162. The 100-hour SMA is also near the $ 162 level, acting as a strong support at the time. next time. Below this level, the price of ETH can move towards the support of $ 158.


  • The hourly MACD is showing positive signs in the bullish zone.

  • The hourly RSI is now just above 50.

  • Major support: $ 165

  • Major resistance: $ 175

Ripple news


The XRP price has broken below the important triangle pattern with the support near $ 0.2 on the hourly chart and is showing some signs of price drop below this level.


XRP is currently testing the $ 0.1885 level or the Fib 50% retracement of the recent wave from a low of $ 0.1949 to a high of $ 0.2026. If the price falls below $ 0.198, it could plunge further in the near term to the support zone of $ 0.192. The 100-hour simple moving average is also waiting close to this level. If the XRP falls below this level, it will be able to test the support of $ 0.188.


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Ripple price chart | Source: TradingView


On the upside, there are two major hurdles for the bulls near $ 0.2025 and $ 0.2050. To start a convincing rally, XRP must gain momentum above the $ 0.2025 threshold and then surpass $ 0.2050.


A successful close above the $ 0.2050 resistance area could open up more opportunities, pushing prices towards $ 0.21 and $ 0.2150 levels in the near term.


  • The hourly MACD is about to turn into the bearish zone.

  • The hourly RSI indicator is right below 50.

  • Major support levels: $ 0.1880, $ 0.1920 and $ 0.1880.

  • Main resistances are: $ 0.2000, $ 0.2025 and $ 0.2050.

Chief Strategy Officer Bank of America mentioned working with Ripple


Julie Harris, head of global banking, digital strategy came up with these comment About Ripple in an article posted by Bank of America. The conversation revolves around emerging payment options available to businesses and the growing demand for faster, more efficient payment methods.


“Ripple and Swift are the fintech that we work with. They have passed all our rigorous legal and compliance checks. ”


Harris did not provide any further details on how the bank will use Ripple. Because of the mention of Swift in the same context, it is reasonable to assume that cross-border payments will be part of the bank's cooperation plan.


HUSD news


Whale Alert announces 4 million HUSD has been printed in 4 different installments at HUSD Treasury.


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Large amount of HUSD printed more | Source: Whale Alert


News Cardano


The Cardano Foundation announced its cooperation with the South Africa Blockchain Alliance (SANBA) on April 7. This collaborative effort aims to explore next ways to enhance technology adoption across South Africa.


According to the official announcement, Cardano will use blockchain technology to promote socio-economic growth in South Africa. The foundation believes that such cooperation will help them achieve their goal of increasing blockchain adoption across the region.


Cardano said South Africa is a key market to help governments, organizations and companies currently using their technology to build networks across the country.


“Cardano believes in empowering individuals and businesses by giving them direct control over information, wealth and value. Blockchain technology allows developing countries to break ties with old banking systems, intermediaries and entrenched political structures. ”


Ontology news


The Venezuelan Blockchain, the organization focused on promoting a new economy in Venezuela backed by cryptocurrency and distributed ledger technology (DLT), has co-operate with Ontology, a high-performance blockchain network for businesses. This partnership aims to create economic initiatives that help improve the lives of the Latin American people.


In early February 2020, Microworkers, the leading online marketplace for freelancers, was apply Onology in an effort to use altcoin ONT to facilitate faster payments and store user data on the network. Currently, the group plans to take advantage of this partnership to empower people in Latin America to find work on the Microworkers platform and be paid with ONT.


Commenting on this initiative, Alberto Guerrero Montilla of Venezuela Blockchain said:


“Venezuela continues to grow economically primarily by creating innovative projects, ensuring the expansion of business and society for the community as well as the sustainable application of new technologies. The Ontology Network has all it needs to facilitate the development of new decentralized systems, ultimately empowering citizens and promoting development in the community. ”


Coinbase news


Coinbase CEO Brian Armstrong has slipped in list 15 youngest billionaires based in the US.


Brian Armstrong is the oldest of the 15 youngest billionaires listed by Business Insider. At 37, his net worth is estimated to be around $ 1 billion, not at the 1990 position on Forbes list.


Coinbase is currently the largest cryptocurrency exchange in the US. It also operates Coinbase Pro, formerly known as GDAX. The company was valued at $ 8 billion in 2018 when it raised $ 300 million from major investment companies such as Tiger Global Management, Andreessen Horowitz and Polychain.


BCH news


2020 is a memorable year for Bitcoin Cash. From a bitter ideological battle to the completion of the scheduled halving last night, BCH has come a long way. Despite the fact that the slaughter of the second week of March wiped out a significant annual increase, this fork seems to be rising sharply.


On another positive note, BCH's active address or number of unique addresses per day hit a seven-month high on April 8. According to BitInfoCharts, this number has increased to 133,266 after the cog-like model has continued to exist since March 2019.



Source: BitInfoCharts


IOTA news


Once the mainstay of the top 10, IOTA is currently losing 24th place on CoinMarketCap's rankings. However, currently the token has performed quite well for $ 0.167. Over the past 48 hours, IOTA has recorded a growth of over 12%, before falling again.


However, the signals are more mixed with IOTA's technical indicators. While the RSI is at 60 points, close to the overbought zone, the MACD indicator shows an impending bearish market, with the bearish crossover.



On the development side, the IOTA Foundation has a relationship co-operate strategy with TMEA.


News XTZ


Tezos, currently in the top 10, used to be one of the fastest growing cryptocurrencies in the ecosystem. However, the market crash in March changed everything. However, in the past 48 hours, XTZ has increased by more than 15%.



The aforementioned increase in the price of XTZ is reflected by a range of technical indicators. While the Parabolic SAR markers were below the candlestick and implied an increase, the CMF was above zero and highlighted capital flows.


On the development side, a Swiss corporation announced that it would launch Bitcoin wrapped on Tezos blockchain.


News Overstock


Overstock expected May 19 will be the airdrop date of OSTKO stock token as a dividend to shareholders. They will receive 1 security token for every 10 OSTK shares they own since April 27, with approximately 4.37 million tokens to be distributed.


It is important that transactions for this token will take place exclusively on the Overstock, TZERO alternative trading system. It handles an average of less than $ 10,000 in daily transaction volume.


According to the document Submitted to the US Securities and Exchange Commission (SEC) on April 7, the company announced May 19 as the scheduled date of issuing Overstock securities tokens for OSTK shareholders. Overstock has registered with the SEC to ensure that tokens can be freely transferred by entities not affiliated with the company after distribution.


News ICON


Korea's largest public blockchain project, ICON announced its new Loop Fault Tolerance 2.0 (LFT 2.0) consensus algorithm on April 8.


The new algorithm will help improve the network's scalability and bandwidth performance through the Practical Byzantine Fault Tolerance (PBFT) consensus mechanisms, without compromising security.


The LFT 2.0 whitepaper was posted on Github today, after three years of research and development. It marks the first time a development team in Korea has successfully innovated on blockchain technology.


PBFT-based algorithms, such as those used by EOS and Cosmos cryptocurrencies, need a large number of messages to be exchanged to reach consensus on a new block. LFT 2.0 reduces the amount of messages needed from three to two steps, allowing for faster voting and reducing network latency.



Viet Cuong


Bitcoin Magazine








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