Bitcoin bulls have laid the foundations for greater upside

Fibo Quantum

Here’s what you need to know on Friday

Markets

BTC/USD is currently trading at $7500 (+0.55%),  bulls need to hold above $7500 to maintain upside momentum.

ETH/USD is currently trading at $190 (+0.25%), the next major target for the bulls will be to break down $200. 

XRP/USD is currently trading at $0.1950 (+0.50%),  momentum is to the upside, gunning for big $0.2000 retest

Among the 100 most important cryptocurrencies, the best of the day are DGB $0.013236 (+38.80%),MATIC $0.015063 (+19.85%) LEND $0.034933 (+13.15%) The day’s losers are SNX $0.697080 (-3.92%), SXP $0.573165 (-2.55%), BUSD $1.00 (-0.60%).

Chart of the day: BTC/USD daily chart (Bulls managed to break and close above the top area seen in the month at $7400. It is now acting as new support, of which the bulls can you as a platform for finding greater upside momentum, with the next target up at $8000)

Market

The volume of Bitcoin (BTC) in Argentine pesos has risen exponentially since the 2018 cryptocurrency crash, as the country faces a possible default on $65 billion in foreign debt. Arcane Research posted data to Twitter on April 23 showing that the weekly volume of Bitcoin purchased with Argentine pesos has jumped 1028% since January 2018. However, the volume from BTC and USD has also shown substantial increases of 407% and 139%, respectively.

Regulation

Huobi Token has become the first international exchange token approved by Japanese regulators after the Financial Services Agency (FSA) approved HT as a compliant crypto-asset able to trade in the world’s second-largest digital asset market from May.

Industry 

Binance, the world’s largest cryptocurrency exchange in terms of market cap, just announced the launch of its new product: Bundle. Bundle is an “Africa-focused” payments application that will assist citizens in the African market looking to spend crypto, cash, or more. The blog post notes: “Bundle’s product vision is to evolve into a super-app with a native digital wallet that supports crypto and cash – one that becomes an ultimate utility in everyday life for Africans and the world.”

Real Betis Balompié, an Andalusia football club has signed a licensing deal with Sorare, a blockchain-based digital trading card platform. The agreement will bring blockchain fantasy football gaming to Real Betis fans. 

Colombian-based cross-border remittance start-up Valiu has launched Bitcoin-backed synthetic U.S. dollars as a means for Venezuelans to access stable assets and bypass the hyperinflation plaguing their national economy.

Sony Corporation, has announced the launch of its Blockchain Common Database (BCDB) platform. The firm says BCDB is a next-generation Mobility as a Service (MaaS) solution designed to support a vast array of transportation systems and provide users with accurate information on the best routes to their desired destinations and more, according to a press release.

Coinbase is trying to fix the broken DeFi industry with stable price oracles. In an April 23 announcement, Coinbase introduced the Coinbase Price Oracle — “a critically important service to the DeFi ecosystem” that will be available through the CoinbasePro API. 

Quote of the day

Whoa. My stimulus check is already worth over $1300 USD. Thanks #bitcoin.

@Abentley77