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Bitcoin’s face has stalled around $58.5K, Why dips remain attractive
The Bitcoin price is currently facing resistance around $58,250 and $58,500 against the U.S. dollar.
Bitcoin’s bid remained well above the $56,500 support zone. As a result, BTC began a new rise above the $57,000 and $57,250 resistance levels.
The price even cleared a 23.6% Fib retracement level from the recent drop from a high of $59,872 to a low of $56,488. However, the price seems to have encountered strong resistance near the $58,250 and $58,500 levels.
Ethereum is holding above $2K, why the rally isn’t over yet.
Ethereum traded to a new all-time high of $2,140 before correcting lower against the U.S. dollar.
Unlike bitcoin, Ethereum followed a bullish path after clearly breaking above the $1,950 resistance level. ETH overcame many important hurdles near $2,000 to move further into positive territory.
The price gained bullish momentum and even cleared the $2,100 level. Ether traded to a new all-time high around $2,140 before beginning a downward correction. It broke through the $2,050 support level, but the bulls were active near the $2,000 zone.
XRP prints its highest weekly close in 35 months as rally accelerates
XRP delivered its highest weekly close since May 2018 amid its accelerating rally
On April 4, XRP ended the past week on Bitstamp at $0.63, not surpassing its May 2018 close of $0.69.
It remains to be seen whether the seventh-largest cryptocurrency by market value can further increase its rally this week and break the aforementioned technical barrier.
Japan’s central bank begins experiments with digital currency
The Bank of Japan has announced the start of the first phase of experiments with the central bank’s digital currency.
The first phase of experiments will focus on testing the basic functions of CBDC as a payment instrument, such as issuance, distribution, and redemption. The first phase will be conducted until March 2022.
The U.K. legal system expects a major surge in cryptocurrency fraud after an FCA warning.
The U.K. legal system expects a surge forward in crypto scams taking place in the country.
Due to the unprecedented growth of the crypto market in recent years, the number of emerging scams is also exponentially high. According to Action Fraud, the total number of cryptocurrency scams in the last year of 2020 rose 57% to 5,581. These numbers have been extrapolated for this year as well. In January 2021, the number of cryptocurrency scams doubled from last year.
Goldman Sachs’ banking hero Man is preparing for a giant leap into crypto-space
Goldman Sachs is reportedly preparing to release its first investment vehicles for Bitcoin and other crypto assets by the second quarter of 2021.
According to CNBC, the Wall Street behemoth plans to offer a financial product to clients of its private wealth management group, which targets individuals, families, and endowments with at least $25 million in income to invest.
People familiar with the matter say the bank is currently getting the green light from regulators, including the U.S. Securities and
Shopify CEO reflects on e-commerce giant’s integration into DeFi ecosystem
Shopify’s CEO seems to have caught the crypto bug, and it could be a boon to adoption.
Shopify CEO Toby Lutke posted a message on Twitter asking the DeFi community what “role” Shopify could play in the growing financial vertical.
The request elicited hundreds of responses, including from several DeFi Power players. The more sophisticated suggestions focused on using escrow for payments, real-time subscription payments, and using protocols like Alchemix to provide asset-backed loans for payments.
IRS gets access to Crypto Exchange Circle user data, next time targets Kraken
The IRS wants to “make sure cryptocurrency owners pay their fair share of taxes.”
Shortly after receiving court permission to obtain customer records from cryptocurrency exchange Circle, the U.S. Internal Revenue Service is now trying to gain access to similar data from the Kraken trading platform.
Argentina’s central bank begins a mandatory search for Crypto-linked bank users.
The Central Bank of the Republic of Argentina has asked active banks to provide detailed information on all of their customers who have conducted cryptocurrency transactions.
In the sheet, which was leaked by the local Bitcoin community on Twitter, the apex bank instructed banks within the republic to provide information regarding each customer’s Unique Tax Identification Code, address, account number, account type, and the names of persons authorized to use the account.