🗞 Daily Crypto News, April, 16th💰

Bears Attack Bitcoin at the Daily Close as BTC Price Slips Below $6,666;
Chainlink’s Link Token Outperforms Bitcoin as Business Wins Fuel Hype Cycle ;
Bearish Bets Being Placed on Bitcoin as Halving Nears ;
Ethereum Now Rivals Bitcoin for Daily Value Transfers ;
Mark Cuban Might Finally Like Bitcoin If It Becomes 'Grandma-Friendly';
🗞 Daily Crypto Calendar, April, 16th 💰
Bitcoin Trading Update

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

🗞 Bears Attack Bitcoin at the Daily Close as BTC Price Slips Below $6,666

Within the last 24-hours Bitcoin (BTC) price dropped to a two week low at $6,468. The mild correction came right at the daily close and although the price traded most of the day between $6,780-$6,680, the downside move should be no surprise as a pattern of daily lower lows has been in play since April 10.

For some traders, the $6,666 meme has been something of a line in the sand and glance at the 4-hour chart shows the price has a tendency to wick down once this devilish level is pierced.

All humor aside, traders have been expecting a strong directional move since the price rejected around the $7,400 range on April 7, 8 and 9, and another signal was the daily decline in trading volume.

The price has also struggled to push above the 50-day moving average ($7,000) and below this level, $6,900 has been an especially difficult resistance to overcome.

🗞 Chainlink’s Link Token Outperforms Bitcoin as Business Wins Fuel Hype Cycle

Chainlink’s link token is outperforming bitcoin by leaps and bounds as the oracle network’s various use cases garners investor attention, leading to a self-feeding bullish cycle.

Link rose by 31 percent in the first quarter and was trading near $3.20 at press time, representing a 42 percent month-to-date (MTD) increase, according to data source Messari.

The cryptocurrency was registering a bigger MTD price gain of 62 percent over the weekend, when it was trading at a one-month high of $3.66.

While the 14th largest cryptocurrency is extending its Q1 ascent, bitcoin, the top cryptocurrency, has eked out just 5 percent gains so far this month, having shed 10 percent of its value in the first quarter.

🗞 Bearish Bets Being Placed on Bitcoin as Halving Nears

With the much-anticipated bitcoin (BTC) halving now less than a month away, more traders are placing bearish bets on the price of the number one cryptocurrency, signaling some degree of doubt as to how enthusiastically the event will really be received by the market.

The bets, known in trader circles as put options, have risen steadily relative to the opposite bet – call options – since March 23, data from the crypto derivatives analytics provider Skew shows.

Options are financial derivatives that provide the holder with the right but not the obligation to buy or sell an asset at a specific price on a predetermined date. As such, options enable speculators to bet on a price rise or decline of an underlying asset using leverage. A call option gives the investors the right to buy an asset and a put option gives the right to sell it. (Learn more:How to Bet on Bitcoin Volatility Using Bitcoin Options)

Also, the data shows that trading volumes in the options market have been on the rise, a sign that is usually considered to add support to existing price trends in the market.

🗞 Ethereum Now Rivals Bitcoin for Daily Value Transfers

China is about to launch its national blockchain platform, part of the country’s grand strategy to lead the digital transformation of the world economy.

The daily average transaction values across the Ethereum platform are now equal to those of the Bitcoin (BTC) network.

According to blockchain analytics firm Messari, the daily value transfer — the total value of assets moved on the blockchain over a day — of the Ethereum network began rivaling those on the Bitcoin network as of April 12, approximately $1.5 billion. Value transferred on Ethereum include Ether (ETH) as well as other stablecoins supported by the blockchain, most notably Tether (USDT).

🗞 Mark Cuban Might Finally Like Bitcoin If It Becomes 'Grandma-Friendly'

Outspoken American billionaire Mark Cuban has stated that he could change his stance on bitcoin (BTC) if it could become more user-friendly – and if the cryptocurrency could somehow shrug off what he called a reliance on fiat currencies.

Mark Cuban, who owns the Dallas Mavericks basketball franchise, has gone on record as stating that, although he does own some bitcoin holdings, he still thinks the cryptocurrency is just as “terrible” an investment as gold.

However, in an appearance on Anthony Pompliano’s Pomp Podcast, Cuban added a caveat, stating that he would be prepared to change his mind if bitcoin became a “no-brainer” to interact with, that was “completely friction-free” – to the point that “grandmas” could use it.

He stated,

“It needs to be understandable by everybody first and then and then you can say it's an alternative to gold as a store of value.”

🗞 Daily Crypto News, April, 16th💰

Bitcoin Cash (BCH), General Event (CRYPTO), TomoChain (TOMO)

BlockDown 2020 conference from April 16 - 17.

General Event (CRYPTO), IOTA (MIOTA)

Global Blockchain Summit 2020 online from 3 PM - 8 PM.

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.

IOST (IOST)

"Talk to Terry directly on IOST's Telegram t.me/officialios on 20:00, April 16th, GMT+8"

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 are just moving in a range till we will now the direction that the market will take. I thnk we really need to break one of these blue lines before we know the direction of the coming days. The longer that consolidation will be, the more powerfull will be the move so really keep an eye on these lines and stay very carefull.

Last Updates

🗞 Daily Crypto News, April, 16th💰

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

🗞 Bears Attack Bitcoin at the Daily Close as BTC Price Slips Below $6,666

🗞 Chainlink’s Link Token Outperforms Bitcoin as Business Wins Fuel Hype Cycle

🗞 Bearish Bets Being Placed on Bitcoin as Halving Nears

🗞 Ethereum Now Rivals Bitcoin for Daily Value Transfers

🗞 Mark Cuban Might Finally Like Bitcoin If It Becomes 'Grandma-Friendly'

🗞 Daily Crypto News, April, 16th💰

Bitcoin Trading Update by my friend @cryptopassion

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