News from the Crypto-Space
From Petro-Airdrop to #stayathome campaigns. At the start of the weekend, several messages that are really something, are circulating through the crypto space. We take a look at what’s happening in the market.
Bitcoin continues to rise
Of course, the eyes of investors are primarily focused on Bitcoin. Once again the No.1 crypto currency succeeds in encapsulating itself from the traditional markets on Friday. In doing so, the BTC manages the long awaited jump over the resistance at 6800 USD. This is where the “digital gold” had failed for about 14 days. At the time of this article, the BTC stands at a value of 6881 USD, the market cap is around 126 Med.
Where are the next limits?
If the bulls can confirm that the 6800 USD resistance will be broken in the coming hours, the BTC would then attack an important level. After the USD 7000 limit, the area in which the Bitcoin levelled off before the outbreak of the coronavirus pandemic is gradually approaching. From a bearish perspective, the area at USD 6800 now forms the new support line.
Bitcoin and Gold defy traditional markets
Bitcoin and gold are considered safe havens, many experts see the assets as a crisis-proof “store of value”. In the past two days both could live up to this reputation. The traditional markets suffered further losses, while the gold and BTC prices made gains.
Venezuela’s government gives away Petros
An Airdrop for doctors? What at first glance sounds like a belated April Fool’s joke could soon become reality in Venezuela. According to media reports, the Venezuelan government under Nicolas Maduro is planning a petro-airdrop for doctors. It could be another, strange attempt by the government to boost the governmental Coin Petro. The country has been suffering from tangible hyperinflation for years.
What do the Altcoins?
The alternative assets are also following Bitcoin at every turn this Friday. Etherum (approx. + 5 %) is taking advantage of the slipstream of the first mover and is approaching the important 150 USD limit. The Privacy Coin Monero made the biggest leap into the Top 20 with a price increase of approx. 9%, while the Bitcoin Dominance Index currently stands at 65.4%.