Bitcoin bulls push price back above $6000; but technical vulnerabilities remain

Fibo Quantum

Here’s what you need to know on Monday

Markets

BTC/USD is currently trading at $6270 (+4.65%), bulls managed to push the price back above $6000, but may prove to be limited. 

ETH/USD is currently trading at $130 (+3.45%), catching a decent in the session, however last week the bulls failed to break back above critical weekly resistance at $150. 

XRP/USD is currently trading at $0.15 (+2.90%), price action pushed north, however, remains stuck within a bearish pennant. 

Among the 100 most important cryptocurrencies, the best of the day are SNT $0.016272 (+25.00%), MCO $4.50 (+9.65%) XMR $42.63 (+9.15%) The day’s losers are SXP $0.599500 (-5.42%), WAXP $0.030981 (-5.30%), BCN $000211 (-3.25%).

Chart of the day: BTC/USD daily chart (Price action is moving within a bearish flag structure)

Market

Cardano Staking – The Cardano Foundation has called on its community to support a distributed computing projected targeted at developing a vaccine for the CoronaVirus. Cardano Shelley – A large number of Cardano staff has decided to join in the Folding@Home project, giving out their personal computers’ CPU to run scientific research.

Regulation

The Securities and Exchange Commission (SEC) has pressed charges against a former state senator for his role in a $4.3 million token sale that promised outlandishly high returns. The SEC confirmed Friday it had filed a complaint against David Schmidt, a former Republican state senator for Washington State, as well as two other people for their role promoting the sale of “Meta 1 Coins.” Filed in the Western District of Texas on March 16, the complaint accuses Robert Dunlap and Nicole Bowdler, as well as Schmidt, of violating antifraud and securities regulations when promising investors returns of nearly 225,000 percent. They also claimed the coin was risk-free and would never lose value. The SEC said defendants made “numerous false and

Industry 

In accordance with the COVID-19 guidance issued by President Donald Trump, the Cybersecurity and Infrastructure Security Agency (CISA), has listed distributed ledger technology (DLT) among the critical infrastructure services needed to effectively reduce the spread of the virus, as such, blockchain managers as “Essential Critical Infrastructure Workers” are expected to maintain their normal work schedule.

Despite the rising value of blockchain skills in the global job market, some countries like China reduced salaries offered to blockchain employees in 2019, a new report says. According to the “2020 China Blockchain Professional Development Report,” the average salary offered to blockchain industry professionals in China dropped 37% year-over-year since 2018.

Italy’s Banco Sella has launched a Bitcoin transaction service. The first Bitcoin buying and selling service offered by a challenger bank as a total wallet on the blockchain, a transaction must be authorized by one or more keys, generally in the possession of the user or the exchange, or wallet on which the operation is ordered.

The world’s largest manufacturer Bitcoin ASIC miners, Bitmain, has sold out its first round of domestic Antminer S19 sales within 24 hours of accepting orders.

On March 23, Bitmain tweeted that it opened up its first phase of domestic sales for its long-await Antminer S19s — before selling out on the same day.

Chinese multinational technology company specializing in e-commerce, retail, Internet, and technology and the world’s largest retailer, Alibaba, has announced they are going to move to Blockchain via its subsidiary, Koala, a digital traceability platform which they acquired for $2 billion in late 2019.

Quote of the day

“Fed Announces Unlimited QE”

This is why Bitcoin was created.

@Bitcoin