🗞 Daily Crypto News, April, 29th

Bitcoin Pre-Halving Price Rally Continues to $8K With New Higher High;
Stacking Sats? Small Bitcoin Holders on the Rise, Data Suggests ;
Data Shows Bitcoin Whales Have No Intent of Selling at Current Prices;
11 Lawmakers Urge US Treasury to Consider Blockchain for COVID-19 Relief;
Bitcoin’s Halving Is Irrelevant for Some Large Traders;
🗞 Daily Crypto Calendar, April, 29th 💰
Bitcoin Trading Update

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

🗞 Bitcoin Pre-Halving Price Rally Continues to $8K With New Higher High

Bitcoin (BTC) price has secured another higher high at $7,863 as traders continue to press for a break of the resistance at $8,000.

With just 13 days left before mining reward halving investors are hopeful that the top-ranked cryptocurrency on CoinMarketCap can at least break above the 100-day and 200-day moving average (at $8,000) in order to tackle another key resistance level at $8,500.

Recently, Cointelegraph contributor filbfilb explained that “breaking the confluence of resistance at $8K will be a tall order for the bulls.”

But the crypto trader also posted the chart above and tweeted that there is a:

Ridiculously tight cluster of MAs overhead; 100-DMA, 200-DMA, 20-WMA, Yearly VWAP, 61.8% Retracement, Yearly Pivot. Yet Bitcoin seemingly persists for more. Squeeze in PA will result in expansion/volatility. I favor a look up & then we will see.. pay-attention time.

🗞 Stacking Sats? Small Bitcoin Holders on the Rise, Data Suggests

New data support the assertion that small bitcoin investors are multiplying rapidly. And anecdotal evidence suggests that much of the growth is taking place in the U.S.

The number of network addresses holding at least 0.1 BTC has continued to hit new all-time highs, climbing to 3,010,784 on Monday, according to data from Glassnode. At the time of publication, 0.1 BTC is worth $770.

These addresses began to increase exponentially around mid-February, coinciding with Federal Reserve Chairman Jerome Powell’s suggestion to lawmakers that the central bank lacked sufficient firepower to fight the next recession.

🗞 Data Shows Bitcoin Whales Have No Intent of Selling at Current Prices

A large Bitcoin (BTC) whale holding 68,000 BTC ($523 million), has not moved the funds for more than five years and on-chain data shows other whales have similarly held onto their BTC for 4.7 years on average.

Although Bitcoin is the top ranked cryptocurrency on CoinMarketCap, whales holding on to the digital asset without selling for years does not protect BTC from a steep downtrend. On March 12, the price dropped to as low as $3,600 and many whales did not move their funds at the time.

What the data shows, however, is that many whales are comfortable holding onto BTC despite the risk of a significant correction to the $3,000 to $4,000 multi-year support area. This paints an optimistic long-term trend for the cryptocurrency market and the patience of high net worth investors.

🗞 11 Lawmakers Urge US Treasury to Consider Blockchain for COVID-19 Relief

Eleven members of Congress are calling on the U.S. Treasury Department to look at new technologies, including blockchain and distributed ledger technology (DLT), to help streamline how cash and supplies are distributed under a federal law trying to boost the economy during the COVID-19 crisis.

A letter addressed to Treasury Secretary Steven Mnuchin points to blockchain and DLT as secure “new mechanisms” for moving money quickly and transparently, which could in turn boost liquidity in distributing funds via the federal CARES Act.

U.S. Congressman Darren Soto (D-Fla.) spearheaded the letter, dated April 23 but released publicly on Tuesday.

Reps. Tom Emmer (R-Minn.), David Schweikert (R-Ariz.), Ro Khanna (D-Calif.), Warren Davidson (R-Ohio), Ted Budd (R-N.C.), Tulsi Gabbard (D-Hawaii), Anthony Gonzalez (R-Ohio), Bill Posey (R-Fla.) and Ben McAdams (D-Utah) and Delegate Stacey Plaskett (D-U.S. Virgin Islands) all joined Soto in signing the letter.

Behind the Story: Congressman Darren Soto (D-Fla.) on Blockchains and AI for the Federal Government
Link here: https://art19.com/shows/markets-daily/episodes/f8b2ce43-efec-41b6-8fd5-5d2d2d802443

🗞 Bitcoin’s Halving Is Irrelevant for Some Large Traders

Bitcoin's third halving is less than two weeks away. Google searches indicate an all-time high level of interest in this event, the third in the life of the world’s oldest cryptocurrency.

But some traders say the halving won't be the bullish catalyst many expect: They say it doesn’t matter. Rather, they are focused on other macroeconomic catalysts, including unprecedented central bank monetary policies, that may drive bitcoin’s price in the coming months and years.

Most people are just “spinning their wheels” debating the bullish halving thesis, Matthew Kaye, managing partner at Blockhead Capital, told CoinDesk. Some market data suggests traders “may see increased demand in the form of diverted mining resources in addition to the reduction in new supply” after the halving, he said.

Queries about the May halving have already eclipsed searches for “bitcoin halving” that took place ahead of bitcoin’s second halving in 2016. Search interest is expected to acutely increase over the coming weeks, according to Google’s data.

🗞 Daily Crypto News, April, 29th💰

Ravencoin (RVN)

Ravencoin (RVN)

Breezecoin (BRZE)

"On April 29, we will be listed on Bithumb Global, which is one of the top 5 crypto exchanges in the world."

Constellation (DAG)

"The ERC20 to Hypergraph Mainnet DAG swap will be conducted on: Wed 29 April 2020 6am UTC"

Xenon (XNN)

Probit Listing

Crypto.com Coin (CRO), Matic Network (MATIC)

"Live AMA with VP of Operations & Marketing of Matic Network Chandresh Aharwar on @cryptocom's Telegram Channel..."

Bitcoin Trading Update by my friend @cryptopassion

Here is the chart of my last analysis :

Here is the current chart :

The BTC is continuing to make little UP after little UP. We miss clearly volume and volatility but till now we continue to increase. I really suspect that a major correction will finish to take place but sometimes the marlet like to do the exact oposite of what most of people are thinking. So my only advice will be to secure some of you profits if you did and stay very carefull. The next major resistance line is at 8000$ but I have big doubts we can break that line with the current volume.

🗞 Daily Crypto News, April, 29th

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

🗞 Bitcoin Pre-Halving Price Rally Continues to $8K With New Higher High

🗞 Stacking Sats? Small Bitcoin Holders on the Rise, Data Suggests

🗞 Data Shows Bitcoin Whales Have No Intent of Selling at Current Prices

🗞 11 Lawmakers Urge US Treasury to Consider Blockchain for COVID-19 Relief

🗞 Bitcoin’s Halving Is Irrelevant for Some Large Traders

🗞 Daily Crypto News, April, 29th💰

Bitcoin Trading Update by my friend @cryptopassion

You don't want to miss a Crypto news?

Follow me on Twitter or Facebook

Use Brave browser, one that respects your privacy and pays you !

Come try out a great blockchain game: Splinterlands