Bitcoin vulnerabilities to the downside remain high underneath $7000 and breached bearish flag

Here’s what you need to know on Tuesday

Markets

BTC/USD is currently trading at $6390 (+1.65%), the price remains vulnerable underneath $7000, a barrier also capping upside at $6500. 

ETH/USD is currently trading at $132 (+0.45%), heavy supply runs from $140-150.

XRP/USD is currently trading at $0.17 (+1.20%), once again the upside is limited by a barrier at $0.1800.

Among the 100 most important cryptocurrencies, the best of the day are BCN $0.000230 (+9.30%), NRG $1.96 (+7.65%) MOITA $0.150940 (+7.15%) The day’s losers are BTM $0.055950 (-5.42%), CKB $0.004128 (-3.55%), XEM $0.035901 (-3.30%).

Chart of the day: BTC/USD daily chart (vulnerabilities remain following breached bearish flag structure) 

Market

ETH 2.0 is just some months away and confirmation of a multi-client testnet has come through from research leads Danny Ryan and Vitalik Buterin. After the protocol underwent its preliminary audit, the ETH 2.0 research and development team will work upon fixing the minor vulnerabilities found by Least Authority, per The Block, March 31, 2020.

According to local press reports by Chinese media outlet Shine, the Shanghai Gas Group – with aid from VeChain (VET) – has successfully completed the first phase of a liquefied natural gas (LNG) blockchain project that aims to foster data sharing and intelligent cooperating in the energy industry.

Crypto exchange CoinEx announced on Tuesday its partnership with Simplex for facilitating purchases of digital currencies with credit cards. As detailed within the press release, users of the exchange can now buy five digital currencies – Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Tether – using either Visa or Mastercard credit cards.

Coinbase recently provided an insight report following the heavy market drop on March 12. Coinbase’s retail platform saw “record-breaking” trading activity throughout the 48 hours during and after the aggressive slump compared to its 12-month averages. Bitcoin (BTC) was the most-traded crypto asset during the crash, with Coinbase estimating total BTC trading was six times the average during the crash — fuelled by three and a half times the average number of active traders and a buy-ratio of 69%. Ether (ETH) was the second-most popular cryptocurrency during the dip, with five times the average number of ETH traders driving a seven times increase in volume with a 67% buy-ratio.

Industry 

OKCoin, one of the “world’s leading blockchain explorers,” will expand its services to Japan thanks to a new license it recently acquired. The exchange will call itself OKCoin Japan, and potential users can start applying now 

Binance, one of the world’s heavyweight crypto exchanges, has entered the South Korean crypto market, and is set to launch a local crypto exchange. This exchange will be launched on Binance Cloud, the white-label platform of the company.

CoinSpot, one of Australia‘s top cryptocurrency exchanges by trading volume, says its security systems have been given the International Organization for Standardization (ISO) stamp of approval.

BMW Group plans to roll out its blockchain supply chain solution to 10 suppliers this year. Dubbed “PartChain,” the platform has already been successfully tested by BMW in 2019, an official announcement on March 31 revealed. 

Quote of the day

First they ignore you,

then they laugh at you,

then they fight you,

…and then they buy bitcoin

@Bitcoin