Calm before the storm?
Before Easter Sunday, the crypto-market is quiet. At least that’s what it looks like at first glance. However, the Bitcoin chart could lose the important support at 6800 USD at any time, and the bears are in a dangerous stall. In addition, several announcements are causing uproar. We take a look at the current market situation.
Bitcoin in sideways movement
The No.1 crypto currency enters a consolidation phase on Saturday. After the enormous price gains, the chart dipped a whopping 6% on Friday. Currently, it looks as if the support area will wobble at 6800 USD. In the past 24 hours, investors have traded BTC units for the equivalent of about $34 billion. These figures speak for a quiet Saturday. The focus of investors is likely to shift to Monday’s trading start. However, the limit at $6800 USD should be watched closely. If it falls below it, the BTC could quickly fall significantly lower.
No breakouts after Halving?
Bitcoin SV and Bitcoin Cash carried out a successful halving on Wednesday. From now on the miners will receive 6.25 coins per block mined (previously 12.5). Contrary to the expectations of many experts, this event did not affect the charts. For months the crypto community has been discussing whether the third Bitcoin Halving event has already been added to the course. We should expect a first answer in just under 45 days.
Reddit Community Points via Blockchain
The social news aggregator Reddit has announced the tokenization of its community points. In the future, users will be able to reward themselves for posting comments and many other interactions. The coin runs as ERC 20 token on the Etherum block chain. In addition, the tokens are not to be distributed by an ICO, but by a sophisticated airdrop. The first 50 million tokens will be distributed based on the previous interactions. A further 50 million tokens are to be distributed in the course of the year. With the tokens, users can, for example, acquire premium accounts or increase their voting rights in weighted surveys.
Chainlink is the Altcoin of the hour. With a price increase of over 30% (in the last 7 days), the Oracle-Coin has serious ambitions for a place in the coveted Top 10 of the crypto charts. Currently LINK ranks 11th with a price of 3.15 USD.
The Bitcoin Dominance Index shrinks by about 1 percentage point on Saturday (current value: 64%). This means that all Altcoins share 36% of the total market capitalization, which in turn amounts to approximately 194 billion USD.