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Cryptocurrency news for today April 11

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Cryptocurrency news for today April 11

Cryptocurrency news for today April 11
CONTENT

  • Bitcoin attracts large investors

  • India in quarantine buys cryptocurrency

  • The short-term technical picture is alarming

International consortium of news organizations developing transparency standards.

Bitcoin has settled under the $ 7,000 mark again, but short-term currency fluctuations are not impressive for true hodlers. The number of bitcoin whales continues to grow, and the head of Coinbase continues to predict rapid growth for the first coin. Indians, following the Europeans, rushed to buy bitcoins while sitting in quarantine.

Cryptocurrency news for today April 11

Read about how things are in the cryptocurrency market, as well as about the key events that have occurred in the cryptocurrency industry over the past day, in our daily digest..

Bitcoin on the verge of breaking a bullish trend

Bitcoin is currently testing the resistance line of the previous $ 6900 range. Two possible scenarios for the further direction of movement of the token are shown below. At first glance, it seems that the probability of a fall in prices is quite high. After Bitcoin exceeded the range on April 7, it was unable to hold on to higher levels and returned to the breakout level. In the event of an upward bounce, the quotes will most likely retest the breakout level and move higher. This potential move is marked with green lines and suggests a rise first to $ 7200 and then to $ 7450. More details

The number of bitcoin whales hits a two-year high

Despite the local drop in the price of cryptocurrency, the number of bitcoin whales has reached a maximum in the past two years. The number of large bitcoin owners has reached an all-time high over the past two years, according to a report by analyst firm Glassnode. The number of bitcoin whales (those with at least 1,000 BTC on their balance sheet) has increased since the bitcoin crash of 30% last month. Their numbers also grew during the March volatility and even after the price recovered to $ 7000. More details

Coinbase CEO predicts the rise in popularity of anonymous cryptocurrencies

The Coinbase founder believes that the mainstream with anonymous cryptocurrencies is inevitable, just as the transition from HTTP to HTTPS was inevitable. The head of the American regulated cryptocurrency exchange Coinbase, Brian Armstrong, in a guest column for the Project Syndicate web portal, described his vision of the future of the cryptocurrency industry. Armstrong began by saying that there is still no emphasis on confidentiality of private financial information in everyday life. More details

Indian Cryptocurrency Exchange Increases Trading Volume By 470% Daily

Cryptocurrency news for today April 11

The largest cryptocurrency marketplace in India, WazirX, has reported skyrocketing daily sales. According to representatives of the exchange, in March the daily increase in sales amounted to 475%, which in dollar terms is $ 286.3 million. In addition, WazirX said that today 300 thousand registered users use the site’s services. This growth became possible after India officially lifted the ban on cryptocurrency trading on March 4. Recall that since April 2018, a complete ban on any transactions with digital money was introduced in the country, which was the main reason for stopping the growth of the cryptocurrency market in India. After the ban was introduced, several large international exchanges were forced to leave the market, while the rest chose to engage in dialogue with the government in order to lift the ban. Two years later, the restrictions were lifted, which gave impetus to the rapid development of the market. More details

Bitcoin balances around long-term support

Bitcoin rallies in a rising wedge after falling to lows on March 13. On March 30, gains accelerated and the cryptocurrency has strengthened since then without significant pullbacks. However, on April 10, Bitcoin is trading more than 5% lower intraday, testing a minor support zone of $ 6,900. Trader @damskotrades tweeted a bitcoin chart showing a long-term trading range of $ 6700- $ 7700. More details

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