Crypto newsletter: Bitcoin break free from the range and moves towards $8 000

• Bitcoin at new monthly highs
• Etherum break above the key resistance level
• Starbucks and McDonald's are testing Chinese digital currency

 

Yesterday bulls returned to the cryptocurrency market following a brief downtrend at the beginning of the week. Bitcoin price surged 6%  to new April’s high at $ 7,725 as investors bought April CME bitcoin futures before their expiry date, which is considered the main reason for the rally. According to Skew data, yesterday bitcoin contracts with a total amount of USD 68 million were liquidated on BitMEX, which caused an increase in market demand. Starting from this year's low’s from March 13, bitcoin has almost gained 100%.
Ethereum bulls managed to break above critical 171.13 USD. The second most popular cryptocurrency is constantly striving to recover last month losses.
The total market capitalization increased to almost $ 217 billion. Bitcoin maintains a dominant market position of 63.9%.

 

Yesterday BITCOIN managed to break above the key $ 7300.00 level and next target for bulls is located at8 000.00 level. Today we are witnessing a downward correction. If a breakout towards $ 8,000 continues to delay, this could see bears gain the confidence to push the price below the key support at $ 7,300. Source: xStation5

RIPPLE bounced of the upward trend line and is heading towards testing key resistance level at 0.20. If bulls will manage to break above, then next resistance at 0.2143 may come into play. However if bears take control of the market and break below the trend line, then the price could retest support at 0.1682. Source: xStation

ETHERUM price breakthrough key resistance level at $ 171.13 which was additionally strengthen by 200 MA (red line). Today Etherum erased some of the yesterday’s gains, nevertheless as long as the price sits above it, sentiment remains bullish and coin may be heading towards $ 200.00. However, one should be aware that in case of a break below the aforementioned support, downward move may accelerate. Source: xStation

 

Crypto news:

Market analyst from Oanda Corp., Ed Moy believes that retail investors are again purchasing on the cryptocurrency market to protect their wealth from the negative consequences of central banks' printing money policy. "With worldwide stimulus efforts showing no signs of easing, some traders are jumping into cryptos as a hedge against currency wars", he said in a note to clients.

 

Huobi Token is now one of 25 tokens approved by the Japanese financial regulator, Japan Financial Services Agency (FSA) and from May is allowed to trade on one of the most dynamic cryptocurrency markets in the world. Huobi token is the first token of the cryptocurrency exchange in the pack.
Huobi Global consider this is a great success, because the Japanese regulatory authority is known for its hard and meticulous approach to financial services, in particular the cryptocurrency market. Initially, Huobi Token trading in Japan will be available through Huobi Japan. The Japanese branch of the crypto exchange was established in 2018, after the company obtained a license from the Japanese Ministry of Finance .

According to the Global Times, the Chinese central bank's digital currency DC / EP project will be tested in the Xiongan New Area, North China's Hebei Province, with a trial run in local catering and retail industries including US coffee chain Starbucks, fast food chain McDonald's restaurant chain.

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