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The MVIS CryptoCompare Digital Assets 10 Index has closed at 4,477.18 with a loss of 6.80% for the day.
See the live index here
At the time of writing, the Bitcoin price is sitting at $6,818 representing a loss of 6.89% in the last 24 hours. More than $900 M worth of BTC were exchanged in the BTC/USD market representing a 21.5% share of the global daily volume. The BTC/JPY pair represents a 56.3% share.
The Ethereum price has dropped 5.86% over the past 24 hours and is currently sitting at $380, with over $220M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 35.1% market share of the daily trading volume.
See live charts here and here
Venezuela to Use the Petro to Buy Auto Parts from Russia
The Venezuelan government revealed its plans to buy Russian Kamaz truck auto parts and intends to pay it in Petro. According to a Venezuela minister, Jose Vielma Mora, the national cryptocurrency will be used to purchase components, tires, batteries and spare parts. Mora stated:
“The cooperation includes payments with the petro.”
Ministers from both countries have discussed the use of El Petro in bilateral transactions during a high-level meeting in Caracas. Areas like energy, construction, and the military have also been covered.
Read more here
Coincheck Decided to Accept Takeover Bid
Cryptocurrency exchange Coincheck has decided to accept a takeover offer from Monex, Japan’s third-largest online brokerage. According to the Japanese business daily Nikkei, Coincheck will accept a takeover bid that includes capital in several billion yen, worth tens of millions of dollars, from major Japanese online brokerage Monex. The decision to accept the bid was reportedly made today, a move which will see Coincheck reshuffle its management as the exchange continues its recovery effort after suffering a $530 million theft in NEM tokens in January.
Read more here
Korean Regulator Tells Crypto Exchanges to Revise User Agreements
A South Korean regulator has ordered 12 of the country’s cryptocurrency exchanges to revise their user agreements. In a statement published yesterday, the South Korean Fair Trade Commission (FTC) outlined the mandate, which was directed at popular exchanges like Bithumb, Korbit, Coinone and many others. According to a report from the South Korean news agency Yonhap, officials faulted the exchanges for failing to provide the necessary protections for users in the so-called adhesion contracts, also known as boilerplate contracts.
Read more here
Moe Levin Announces VEB Chairman to Speak at WBF
With less than two weeks to go, the Chairman of Russia’s VEB, Sergei Gorkov, joins the VIP World Blockchain Forum lineup as the last remaining tickets are sold, closing April 9th. See the entire WBF Dubai agenda here.
Introducing Pantos, the first multi-blockchain token system by Bitpanda
Seamless cross-chain token transfers between multiple blockchains will be possible soon: Bitpanda, Europe’s leading retail broker for digital currencies, has started to develop an open-source-project named Pantos, together with scientists of the Technical University Vienna, the Academy of Sciences, and the Research Institute for Future Cryptoeconomics (RIAT). Pantos will be financed by a Technology ICO, which is capped at 1500 BTC to ensure the development of an open-source technology that should enable a key technology for a token-based environment – the Token Atomic Swap Technology (TAST).
Pantos wants to solve the blockchain fragmentation problem. After Bitcoin, many digital currencies based on blockchain technology have been launched, each with their own specifications and protocols. A future with multiple blockchain networks is very likely.
The founders of Bitpanda Eric Demuth, Paul Klanschek and Christian Trummer stated:
“The various networks compete not only for investment, resources and market share – but also for knowledge. This is where Pantos comes into play: With the new technology and the PAN Token, for the first time, it is intended to enable valuable transfers of tokens across several blockchains.“
Who is Bitpanda:
Back in 2013, it was difficult to buy digital currencies in Europe. This led to the idea of Bitpanda.
Since then, Bitpanda.com has grown to become Europe’s leading retail broker for digital currencies, currently offering Bitcoin, Ethereum, Litecoin, Dash, Bitcoin Cash and Ripple, and fully integrated EUR trading, including in-house-developed wallet solutions for all assets.
State of the Crypto
Bitcoin is down 6.89% at $6,818.760 with a volume of Ƀ135.0k – $932.3M on the USD pairs.
Ether is up 1.21% against Bitcoin at Ƀ0.0559 per Ether and down 5.86% against the dollar to $380.24 with average volume Ƀ26.7k on the ETH/BTC pair.
Bitcoin Cash is down 0.36% to Ƀ0.09363 with volumes of Ƀ12.1k and down 6.83% against the dollar at $640.86.
Ripple is down 1.31% to Ƀ0.00007109 with volumes of Ƀ9.9k and down 7.86% against the dollar at $0.4844.
Zcash is down 0.96% for the day to Ƀ0.0268 per ZEC and down 7.2% against the dollar to $186.48 with an average volume of Ƀ1.8k for the 24 hour period.
Litecoin is down 8.29% against the dollar for the day at $118.89 and down 1.3% to Ƀ0.01748 on volumes of Ƀ7.8k.
Dash is down 4.25% at Ƀ0.04372 with Ƀ4.4k volume and down 10.27% against the dollar at $301.38.
Iota is down 1.31% to Ƀ0.0001428 on Ƀ909.274 volume.
Ether Classic is down 0.25% to Ƀ0.001985 with volumes of Ƀ2.8k and down 6.95% against the dollar at $13.52.
Monero is down 8.48% against the dollar at $171.35 and down 1.89% against Bitcoin at Ƀ0.02494 on volumes of Ƀ3.6k.
Neo is down 2.1% for the day to Ƀ0.00685 per NEO and down 8.61% against the dollar to $46.71 with an average volume of Ƀ3.3k for the 24 hour period.
Waves is down 3.25% to Ƀ0.0005148 on Ƀ2.0k volume.
Stratis is down 3.39% to Ƀ0.0005077 on Ƀ876.972 volume.
Cardano is down 7.85% to Ƀ0.00002113 on Ƀ4.8k volume.
1 TUR +311.41%
2 VPRC +100.00%
3 CTR +93.26%
4 BIFI +91.75%
5 ZOI +59.87%
1 MCAP -72.41%
2 CTX -28.57%
3 SHIFT -18.89%
4 WC -18.37%
5 OC -18.37%
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Thats not the worst looking chart from a 6 month perspective….5 UP…3 down…Sup gents…been awhile…am I in? nope…am I thinking about it? yep…Whats new? whats been going on? I’ve been in ICO mode for the last 3 months…. Read more
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5/5 for Infinito Wallet
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Analysts say the better word to describe the bearish trend is “Crash”
Is this for real?
One observer said, Dowmike posted on Oil Price community saying,
Bitcoin is crashing right now. This is bad. $6,700 … and dropping
Have you been following the trend?
An advanced member on the community, Tom Tom added his observation saying,
it even hit the $6.500 handle… I think it could get worse before it gets better
Why Are the Crypto Stocks Falling?
Seeing the Markets, the crypto boom isn’t sustainable? Why is the market falling?
Bitcoin doesn’t look good the way it is nosediving!
How soon are we looking to see a surge in Bitcoin and its alter coins?
What is the remedy?
Another observer, Cokiga Damke a member of the community, reported that,
Ether dipped below $400 and was last traded at $398.47, down 11.2%, Bitcoin cash fell 14.7% to $732.94, Litecoin lost 11.2% to $116.97 and Ripple was down 7.6% to 53 cents.
And agreeing to this trend, an advanced member opined that it was indeed a,
Brutal day. The total value of all cryptocurrencies fell below $300 billion overnight.
And responding to this this opinion, Cokiga also mentioned that,
SEC is having office party as we speak
Why. Because of fees? Or something else. It is hard for me to keep track. Very sensitive market, I say
exchange closures, bearish technical patterns, the possibility of Ethereum fees, Twitter announced that it would no longer be running ads tied to cryptocurrencies. Facebook and Google to follow….
News what google was to do… and I received this from my options broker who said:
Google to restrict ads for online trading
Google is planning to restrict the advertisement of certain trading instruments in June, meaning that you have a little over two months to make the most of your AdWords campaigns before the ban is put into motion.
The new restricted financial products policy, as referred to in Google’s recent post, will apply to the following financial products:
How the new policy might affect you
Starting from June, affiliates will no longer be able to:
Google’s new policy does not allow affiliates to advertise any of products mentioned above, even if these products are certified.
What is the guarantee that in spite of these odds, there could still be a spike in the crypto market beginning with Bitcoin the crypto king?
The answer is in what Black Tortoise, another member of the community said. He said,
Last time Bitcoin hit these lows was in February dipping below $6,000 before spiking again to $12,000.
Looking at the future after June, when google’s announcement would have taken effect, can you think of any possible factor that will make the spike anticipated happen real fast?
The outlook of every sound investor is reflected in the calm gesture of another member of the community, Stormysaga, who gave his own response to this southward trend saying,
I wouldn’t panic. It happened before and had always recovered.
Steven Seagal destroys everything. Bad movies, bad Zen, bad crypto
There other bad factors that have the power to shape the future of the crypto market, and one of them is the claim of another member of the community who expresses fear saying,
i guess Russia is also planing to ban Bitcoin. But they seemed so progressive
Should bitcoin reach close to $7,240, the cryptocurrency’s 50-day moving average could break below its 200-day moving average, a phenomenon traders refer to as the “death cross.”
Now what are your own fears?
Fears will only cripple your inner man, so keep the fears away, and Cokiga has that right response to the fears about Russia’s plan. He said.
Russia is aiming for its own, CryptoRuble
How does that make you feel? Light right? And same is the proof you need that mood swing is natural. One good news can do all the good by inspiring the good mood investors need to dive back, so you should be there before they do, not so that you’ll remain for so long, but so that you can sell when they start buying at the exchanges again.
The blockchain technology has its own spirit of more positive mood swings and that’s why when one bad mood expressed in the community said, the cryptocurrency
came from nothing nothing and will return to nothing
Another good mood picker known as Blockchainbull, an advanced member of the community said,
I think there’s something between nothing and calls for it to hit $35,000. There’s a highly polarizing mentality with crypto, but i don’t see it as a love or hate thing. It’s just finding it’s price reality, and it’s not $35,000, or $10,000, or probably even $7,000. I think it will drop much further, but not to nothing. It’s already a reality that’s not going away.
This good mood suggests that there has to be a level playing ground in the crypto world where anyone can easily afford the prices at the exchanges and sell to stocks to those in need and buy again when they need to, and this will make the currency more commercial than it already is, meaning it will keep a flat price for good!