🗞 Daily Crypto News, April, 17th💰

Bitcoin Price Surges 10% to Key Resistance Level as Bulls Target $7,400 ;
Chainlink’s Link Token Outperforms Bitcoin as Business Wins Fuel Hype Cycle ;
Open Interest in CME Bitcoin Futures Rises 70% as Institutions Return to Market ;
Circle CEO Claims ‘Explosive’ Stablecoin Demand From Everyday Businesses;
Blockchain ‘Immunity Passport’ Could Get You Back to Work;
🗞 Daily Crypto Calendar, April, 17th 💰
Bitcoin Trading Update

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

🗞 Bitcoin Price Surges 10% to Key Resistance Level as Bulls Target $7,400

Less than 24-hours ago Bitcoin (BTC) price dropped to a two week low at $6,468, inciting calls for a revisit to the sub-$6K zone but the digital asset deftly shook off the bears by reversing course to rally to $7,190.

At the time of writing the Bitcoin trades slightly above $7,100. As one would expect, altcoins followed the drop in Bitcoin price but as it recovered a number of top altcoins also bounced strongly. Ether (ETH) managed a 17.77% gain, while Binance Coin (BNB), and Chainlink (LINK) surged by 11.65% and 15.02% respectively.

Bitcoin’s 10% surge pushed the price above the 50-MA which had been serving as resistance for the past 9 days and a close above this level is crucial or the price can slip back below $6,900 to return to the range of the previous week.

🗞 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.

🗞 Open Interest in CME Bitcoin Futures Rises 70% as Institutions Return to Market

Open interest in bitcoin futures listed on the Chicago Mercantile Exchange (CME) has recovered significantly from the March lows, indicating a resurgence in institutions that want to buy the cryptocurrency.

As of Wednesday, open interest, or the number of futures contracts outstanding, was $181 million, a 70 percent increase from $106 million recorded on March 22.

The price rise is accompanied by an uptick in open interest in futures listed on the CME, as noted earlier. Total open interest on other major exchanges including Bakkt, Kraken, ByBit, Huobi, BitMEX, OKEx, Deribit, Binance, FTX and Bitfinex also increased, from $1.7 billion on March 13 to $2.3 billion on March 15.

🗞 Circle CEO Claims ‘Explosive’ Stablecoin Demand From Everyday Businesses

Four months after Circle pivoted to stablecoins, the startup’s new business model has received an unexpected boost from the global coronavirus crisis, said co-founder and CEO Jeremy Allaire.

U.S. dollar-backed blockchain tokens are surging in popularity around the world, and this time much of the demand is for payments in normal business transactions, not just to move money quickly between cryptocurrency exchanges, Allaire claimed.

“Over the past several weeks, we have seen explosive interest and growth in USDC,” he said, referring to the stablecoin Circle issues in partnership with Coinbase. “There is clearly very significant global demand for digital dollars, and the use of digital dollars as a new payment medium.”

🗞 Blockchain ‘Immunity Passport’ Could Get You Back to Work

Oracle has partnered with Vottun, a company that specializes in the certification and traceability of data on the blockchain, to release a digital health passport that could enable employees currently in lockdown to go back to work.

The digital credentials system — known as an ‘Immunity Passport’ — created by Vottun records your immunity status on the blockchain which can easily be checked.

Rohan Hall, Chief Executive Officer (CEO) at Vottun, told Cointelegraph the passport “can be verified at any time using cryptography by any mobile phone that can read a QR code”. Credentials “are securely stored” and “immutable” and the system is as simple as using a mobile boarding pass for a flight.

🗞 Daily Crypto News, April, 17th💰

Transcodium (TNS)

Phase 2 of TNS burn will be taking off on 17th April, 2020. where 500,000 TNS will be burnt to reduce the total supply."

Horizen (ZEN)

Introduction to Blockchain, Cryptocurrencies and Horizen - Virtual meetup by Horizen.

Zcoin (XZC)

"We will be hosting an AMA with @vertbase on t.me/zcoinproject Fri 17th April at 11 pm (GMT +8)"

Vexanium (VEX)

Vexanium will have a webinar with a theme "Vexanium Update: Blockchain Opportunities in the Middle of the Economic Crisis of 2020"

Bitcoin Trading Update by my friend @cryptopassion

Here is the chart of my last analysis :

Here is the current chart :

Today we tested the level of of 6500$ and it triggered directly a bounce which sent us over 7000$. It was a nice trade to do for a move of more than 500$ in just some minutes. We have now to see if that move was not a bull trap and for this we need to go test and even better to go break the resistance line in blue at 7300$.

Last Updates

🗞 Daily Crypto News, April, 17th💰

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

🗞 Bitcoin Price Surges 10% to Key Resistance Level as Bulls Target $7,400

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

🗞 Open Interest in CME Bitcoin Futures Rises 70% as Institutions Return to Market

🗞 Circle CEO Claims ‘Explosive’ Stablecoin Demand From Everyday Businesses

🗞 Blockchain ‘Immunity Passport’ Could Get You Back to Work

🗞 Daily Crypto News, April, 17th💰

Bitcoin Trading Update by my friend @cryptopassion

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