Here's what you need to know on 

Markets:

BTC/USD is currently trading at $9,600 (+3.2% on a day-to-day basis). The coin has been moving within a strong bullish trend and hit a new 2020 high at $9,772 in Wednesday.

The ETH/USD pair is currently trading at $205.0 (+5.57% on a day-to-day basis). Ethereum retreated from the intraday high of $207.26; now, it is moving within a short-term bullish trend amid low volatility

XRP/USD settled at $0.2794 after a spike to $0.2849 during early Asian hours. The coin is up 8.5% in recent 24 hours.

Among the 100 most important cryptocurrencies, the best of the day are Lisk (LSK) $1.36 (+23.5%), Centrality (CENNZ) $0.0874 (+20.7%) and Hedera Hashgraph (HBAR) $0.0201 (+16.6%), The day's losers are MaidSafeCoin (MAID) $0.1082 (-8.42%), ICON (ICX) $0.4743 (-6.5%),  and Molecular Future (MOF) $1.12 (-5.92%).

Chart of the day:

ETC/USD, 4-hour chart

Market:

A co-founder of a research company Fundstrat Global Advisors, To Lee, once again confirmed his optimistic views towards Bitcoin and cryptocurrency industry as a whole. The technical picture of the first cryptocurrency implies that it is ready for an impressive pump, he said in the interview with Yahoo Finance.

Whenever bitcoin breaks back into its 200 day, its average six-month gain is 197%.

Lee believes that halving will have a positive impact on Bitcoin's price momentum, while geopolitical uncertainty and economical consequences of coronavirus will add fuel to the fire.

According to Whale Alert service, the cryptocurrency exchange Bitfinex transfered over 102 million USDT to Tether Treasury. Meanwhile Tether confirmed that is had redeemed and destroyed this amount. The burned USDT was issued on Tron's blockchain. Bitcoin jumped by over 5% in a matter of hours and tested area above $9,700.

Industry:

The Russian users of the cryptocurrency exchange Binance now can buy digital assets with Ruble via Visa credit and debit cards. The new feature allows purchasing BTC, ETH, XRP, BCH and BNB in a hassle-free way with a commission as lo as 1%.  The company plans to add MasterCard support and expand the list of available coins, according to the official press-release. In a separate development, the exchange announced the launch of XTZ/USDT Perpetual Contract with up to 50x leverage. Earlier this year, Binance added futures contracts for XRP, LTC and a number of other coins.

The cryptocurrency startup Lightening Labs raised $10 million to develop Bitcoin-based payment network that will allow companies and individuals to use digital coins as easily as traditional money. The team announced on Twitter:

Lightning Labs is scaling! Announcing our $10M Series A to fuel LN development, and the Lightning Loop beta release, a product making it easier send/receive #bitcoin instantly. With 4000 developers and 30+ startups, the next decade of Lightning is on.

Lightning Labs also released a beta version of its first product, Lightning Loop that will help companies and and users to send and recieve coins via Lighting more efficiently.

Quote of the day:

Crytpo is bid. Period.  Hearing more and more inquiry.  Always dangerous but higher prices are making me more bullish.   $eth over 200 for a couple of days will open a bigger move.  $btc has 10k looming.   Once that goes we are off to the races.

Mike Novogratz, Galaxy Digital


Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Recommended content


Recommended Content

Editors’ Picks

Is Altcoin Season here as Bitcoin reaches a new all-time high?

Is Altcoin Season here as Bitcoin reaches a new all-time high?

Bitcoin reaches a new all-time high of $98,384 on Thursday, with altcoins following the suit. Reports highlight that the recent surge in altcoins was fueled by the victory of crypto-friendly candidate Donal Trump in the US presidential election.

More Altcoin News
Shanghai court confirms legal recognition of crypto ownership

Shanghai court confirms legal recognition of crypto ownership

A Shanghai court has confirmed that owning digital assets, including Bitcoin, is legal under Chinese law. Judge Sun Jie of the Shanghai Songjiang People’s Court shared this opinion through the WeChat account of the Shanghai High People’s Court.

More Cryptocurrencies News
BTC hits an all-time high above $97,850, inches away from the $100K mark

BTC hits an all-time high above $97,850, inches away from the $100K mark

Bitcoin hit a new all-time high of $97,852 on Thursday, and the technical outlook suggests a possible continuation of the rally to $100,000. BTC futures have surged past the $100,000 price mark on Deribit, and Lookonchain data shows whales are accumulating.

More Bitcoin News
Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange

Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange

Shiba Inu trades slightly higher, around $0.000024, on Thursday after declining more than 5% the previous week. SHIB’s on-chain metrics project a bullish outlook as holders accumulate recent dips, and dormant wallets are on the move, all pointing to a recovery in the cards.

More Shiba Inu News
Bitcoin: New high of $100K or correction to $78K?

Bitcoin: New high of $100K or correction to $78K?

Bitcoin surged to a new all-time high of $93,265 in the first half of the week, followed by a slight decline in the latter half. Reports highlight that Bitcoin’s current level is still not overvalued and could target levels above $100,000 in the coming weeks.

Read full analysis
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

BTC

ETH

XRP