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Cryptocurrency news for today April 13

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Bitcoin Climbs Past $8,100, Ripple’s Santander Partnership – April 13th Cryptocurrency News

Cryptocurrency news for today April 13

Cryptocurrency news for today April 13
CONTENT

  • Bitcoin under pressure again, bearish predictions rise

  • Interest in cryptocurrencies falls along with belief in their protective properties

  • The DeFi Industry is Reassessing Risks

International consortium of news organizations developing transparency standards.

Bitcoin settled at $ 6,700 after another failed attempt to overcome the $ 7,000 mark. According to the founder of the Silk Road, the first cryptocurrency is much more likely to crash to $ 1,200 than to rise to $ 14,000. The founder of Bitcoin.org also has no illusions about the protective properties of bitcoin, and, according to statistics, investor interest in bitcoin has fallen by half. Bitcoin forks can also be on the verge of failure if the price starts a correction from the overbought area.

Cryptocurrency news for today April 13

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..

Almost 2 million ETH are in longs on Bitfinex

Long positions in Ethereum prevail on Bitfinex. Almost 90% of margin traders buy ETH on this site. The sheer number of long ETH positions suggests that there may be a massive liquidation in the near future – or perhaps these traders know something that others don’t. It is unclear why margin trading on Bitfinex is so strongly biased towards long margin positions. More details

DeFi interest rates jump amid coronavirus

The cryptocurrency market crashed in mid-March along with other risky assets as the coronavirus pandemic swept across Europe and began spreading rapidly into the United States. Governments around the world have turned on printing presses at full blast, promising unprecedented incentives for a sinking economy. Since then, prices for key digital currencies have won back some of the losses and stabilized. However, the collapse exposed the industry’s vulnerabilities. In particular, the crypto lending market has come under severe pressure due to the massive liquidation of collateral. More details

Correction will drop bitcoin to $ 1200, says Silk Road founder

The owner of the now closed anonymous trading platform Silk Road believes that before a new possible growth, Bitcoin will make a record fall to the bottom. Now the cryptocurrency market is experiencing the end of the first wave of its bearish trend, according to Ross Ulbricht, the owner of the FBI-closed anonymous trading platform Silk Road. Sent to life in prison, Ulbricht believes that Bitcoin has experienced an exceptionally bullish trend since 2012, even though the price of Bitcoin has fallen three times in that trend. More details

Interest in bitcoin has halved

Cryptocurrency news for today April 13

This is evidenced by the data of the analytical service Google Trends. Previously, it was proven that the cost of bitcoin is directly correlated with the number of searches on Google and increases as requests grow. The largest surge in interest over the past year has been correlated with the rise in bitcoin from lows of $ 6,400 in December to $ 10,500 by mid-February, suggesting that the growth in search queries on the topic “halving halving reduces the number of new coins created and earned miners twice. It happens about every four years and … More bitcoin. ” More details

Bitcoin forks are significantly overpriced

The forks of Bitcoin – Bitcoin Cash (BCH) and Bitcoin SV (BSV) lag significantly behind the base cryptocurrency, which accounts for 64% of the market. Despite the fact that the market capitalization of the two most popular bitcoin forks is significantly lower than the market share of BTC itself, there is reason to believe that they are still overvalued. For example, if the fair value of each network was determined by the hash rate alone, Bitcoin Cash and Bitcoin SV would trade well below current levels. More details

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