Crypto Today: Bitcoin cautiously higher; market slowly recovers from the shock

Here's what you need to know on 

Markets:

BTC/USD has been hovering around $6,700. The coin has gained 3.5% on a day-to-day basis and stayed unchanged since the beginning of the day. BTC hit the intraday high at $6,789 but failed to hold the ground. Now it is moving within a short-term bearish trend amid shrinking volatility.

ETH/USD has settled at $138.50, off the Asian low of $135.32. The coin has jumped by 3.4% on a day-to-day basis. Now ETH/USD is moving in a short-term bearish trend amid decreasing volatility.

XRP/USD has settled above $0.1600. The coin has gained 2.4% on a day-to-day basis, now it is range-bound with a bullish bias.

Among the 100 most important cryptocurrencies, ZEON (ZEON) $0.0035 (+698%),Komodo (KMD) $0.4572 (+22.6%) and Basic Attention Token (BAT) $0.1597 (+20.5%) are in the green zone. The day's losers are Molecular Future (MOF) $0.3702 (-10.4%),Nexo (NEXO) $0.1037 (-4.4%), Steem (STEEM) $0.1769 (-3.3%).

Chart of the day:

BTC/USD, 30-min chart

Market:

According to the head of Adamant Capital Tuur Demeester, Bitcoin ahs a good chance to embark on a long-term bullish trend if it stays above the critical $6,300. The expert believes that BTC is currently in the accumulation phase; however, the long-term perspectives look favorable.

Bitcoin back in the box, imo we're still in the re-accumulation phase. Looks messy technically, but the rebound is encouraging so far. $6,300 could be key resistance level before bull market can resume.

Nearly half of the surveyed cryptocurrency holders in Japan believe that the bearish trend will prevail on the cryptocurrency market in the near-term future, according to the latest research, conducted by Crypto Network Asia. The vast majority of crypto investors expect the price to move towards $3,500 instead of $7,500. However, the longer-term forecasts are more positive. Moreover, Bitcoin and altcoin holders reported that they trade at the exchange at least once a month. Japan is considered to be the fourth-largest cryptocurrency market in the world, but local exchanges provide access only to thirteen digital coins. The experts believe the situation may improve within the year.

Industry

The privacy-oriented browser Brave has partnered with the cryptocurrency exchange Binance to allow users to trade and transact digital assets directly from the browser. Brave will have a Binance widget built-in into the app, while users will get access to digital assets supported by Binance, including Bitcoin, Litecoin and Ethereum. Apart from that, they will be able to use numerous features like buying, depositing, trading, and view summaries. Brendan Eich, CEO, and co-founder of Brave, commented:

Cryptocurrency trading can be a daunting task for users not familiar with such assets, so integrating Binance into the Brave browser makes the process seamless and simple. By bringing a leading exchange like Binance directly into the browser, Brave is taking cryptocurrency trading mainstream and enabling users to conduct transactions with ease.

A fintech startup with British origin, Revolut, has entered the US market. Now the app and the services provided by the company ae available for the US citizens. The company explained that the app had been working in the US in beta mode since June 2019. However, now, the US users will be able to send, receive and spend money via Revolut partnership with New-York- based Metropolitan Commercial Bank. Currently, the app is used by 10 million people. In future, Revolut plans to intorduce zero-fees stock and cryptocurrency trading. Revolut offers the security of a regulated company:

In addition to being a regulated financial organization, Revolut is a technology company, which means we take data and privacy seriously. You can customize your Revolut card in the app, turning on/off individual features including swipe payments, contactless payments, and ATM withdrawals.

Regulation

The U.S. Democratic Party included a provision for a digital dollar in a draft stimulus bill. The cryptocurrency is deemed to serve as a means of payments to people and businesses hit by coronavirus-related economic collapse. The cryptocurrency industry cheered a proposal as the creation of a digital dollar would effectively legalize bitcoin and other cryptocurrencies. eToro market analyst Adam Vettese commented:

This stops short of the party proposing to create a cryptocurrency for this purpose, and it is unclear whether it will make the final bill.

Quote of the day:

$SPX - S&P 500 is up over 7% so far today but also hasn't seen two back to back green days in three weeks. Don't forget, unemployment numbers come out on Thursday - not expecting great news there - $BTC price will be impacted by any major moves (up or down) in stocks/ S&P 500.

Josh Rager, Co-Founder at Blockroots.com

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