News updates April 06, 2022
1. BTC Technical Analysis: Retest Phase Might Succumb Under $45K:
1) Past Performance of BTC.
2) BTC Technical Analysis.
3) Upcoming Trend.
* BTC prices have decreased by 2.51% in the past 24 hours.
* In addition, the price struggles to sustain above the 200-day EMA.
" Finally, the 24-hour trading volume of Bitcoin is $34.59 Billion, marking an 11.45% fall.
Past Performance of BTC:
The demand surge from the support trendline drove the Bitcoin (BTC) prices higher above the $45 resistance zone. The bullish breakout of the $45K resistance demanded the retest resulting in the short-term triangle formation. The retest phase shows a lower price rejection with the long-tail formation near the 200-day EMA.
BTC Technical Analysis:
Since last week, the BTC price remained trapped in a triangle pattern, trying to sustain above the $45K mark. However, long-tail formation reflects the upside breakout possibility as the buyers refuse to give in.
As the Bitcoin prices sustain above the 200-day EMA, the chances of 50 and 100-day EMA crossover increase. Moreover, the chances of EMA regaining the bullish alignment and increasing overall bullish attention.
Upcoming Trend:
BTC coin price faces an urge in selling pressure near the resistance trendline that may shortly result in a downfall below the $45K mark. However, traders must wait for a price action confirmation to avoid a bearish fakeout.
2. Coffee Giant Starbucks Aims to Enter NFT Business
Starbucks, an American multinational chain of coffeehouses, aims to enter the non-fungible token (NFT) business by the end of the year.
Billionaire businessman Howard Schultz, who has rejoined Starbucks as interim CEO, announced the news at an Open Forum on Monday, claiming that they plan to do so "before the end of this calendar year."
3. Texas Bank to Add Bitcoin Salary Payments in Employee Savings Program
Texas-based Laredo Vantage Bank is planning to offer a new way for their employees to have a Bitcoin savings plan with the company in a bid to step away from traditional savings plans.
The new program, NYDIG's Bitcoin Savings Plan, aims to serve as a simple means of investment in Bitcoin. The Bitcoin Savings Plan will allow willing employees of the bank to automatically convert a portion of each paycheck to Bitcoin. The Bitcoin is then held on NYDIG's institutional-grade custody platform.
The launch of the new savings program exemplifies the financial evolution of Bitcoin.
4. Survey: More than a quarter of U.S. millennials plan to use crypto to fund retirement
According to a recent survey published by Investopedia, 28% of the U.S. millennials polled said they expect to use cryptocurrency to support themselves in retirement — a figure that was higher than those who said they would use savings (25%) and stock investments (27%) to fund their retirement. Meanwhile, 20% of Gen X and 17% of Gen Z respondents said the same. The survey, conducted in the spirit of Financial Literacy Month, was administered to 4,000 U.S. adults ages 18 to 76.
In other fields, approximately 50% of respondents of all ages rated their financial knowledge in consumption, paying taxes, savings, debt management and insurance management as "advanced." However, only 27% of those surveyed said that they understood a lot regarding cryptocurrencies, the lowest score among the eight concepts listed in the questionnaire.
Nevertheless, a significant portion of millennials (41%) said they had advanced knowledge of digital assets, followed by Gen X and Gen Z, at 30% and 29%, respectively, and finally, baby boomers at 8%.
5. Georgian central bank prepares legislation to regulate the crypto market
Georgia, the country on the Black Sea, is preparing to regulate its cryptocurrency market. National Bank of Georgia Governor Koba Gvenetadze told The Financial on Monday that the central bank has already developed a draft of the regulatory legislation in accordance with the requirements of international agencies.
6. Germany Shuts Down Hydra Market, Seizes Servers and Bitcoin
Law enforcement agencies in Germany have targeted Hydra, a leading darknet market (DNM). As part of an operation conducted with U.S. support, the German police were able to establish control over the servers of the Russian-language platform in the country and take down its website.
7. European Commission opens new consultation on Digital Euro
The European Commission is calling for financial services specialists to weigh in on the potential rollout of a digital euro.
In a Tuesday notice, the European Commission’s Directorate‑General for Financial Stability, Financial Services and Capital Markets Union said it would be preparing an assessment of the central bank digital currency based on the expected impact on financial service providers, retail users and chambers of commerce. The commission will consult with industry specialists on issues concerning the digital euro including international payments, privacy, the impact on the financial sector and financial stability, use cases alongside cash payments, and Anti-Money Laundering and Combating the Financing of Terrorism rules.
8. Microstrategy Spends $200 Million More on Bitcoin, Raising Total Holdings to 129,218 BTC
The Nasdaq-listed company Microstrategy has bought an additional 4,167 bitcoins. Its latest purchase has raised the company’s crypto holdings to 129,218 bitcoins.
9. Bukele Returns to Miami Bitcoin Conference as Gangland Crackdown Takes Gruesome Turn
International Bitcoiners will be turning their eyes to El Salvador again this week – but some are concerned that government’s aggressive recent crackdown on gang crime could undermine its standing in the bitcoin (BTC) community.
The nation’s outspoken President Nayib Bukele will be one of the main speakers at the Bitcoin 2022 conference, which will take place from April 6 to April 9, at the Miami Beach Convention Center in the United States. Some 35,000 attendees are expected.
10. Shares Price & Memecoins Soars after Elon Musk Appointed as Twitter's Board of Directors
Twitter shares inked an awe-inspiring performance on Monday after regulatory findings show that Elon Musk, the Chief Executive Officer of Tesla Inc, and SpaceX have bought up a total of 73.5 million shares of the social media giant’s stock.
As reported by Reuters, the acquisition grants Musk an ownership stake worth 9.2% and places him as the largest shareholder of the bird app.
After gaining over 30.16% on Monday, trading at $51.16, Twitter shares price continued to surge 2.02% on Tuesday, a price point that puts Musk’s total investment north of $3.7 billion.
