🗞 Daily Crypto News, March, 7th 💰

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  • Bitcoin Price Flips $9K Resistance as Dow Jones Leads Coronavirus Woes ;
  • Bitcoin Not Affected as US Fed Prints Equivalent of 9.8M BTC in 1 Day;
  • That AlphaPoint $5.6M Funding Round? It’s a Loan ;
  • Gender and Income: Binance US and Stellar CEOs Debunk Myths for International Women’s Day ;
  • Could These XRP Alternatives Threaten Ripple?;
  • 🗞 Daily Crypto Calendar, March, 7th 💰
  • STEEM Trading Update

Welcome to the Daily Crypto News: A complete Press Review, Coin Calendar and Trading Analysis. Enjoy!

🗞 Bitcoin Price Flips $9K Resistance as Dow Jones Leads Coronavirus Woe

Bitcoin (BTC) price held $9,000 on March 6 as the spread of coronavirus played havoc with traditional markets.

Bitcoin turns $9K from resistance into support

Data from Coin360 and Cointelegraph Markets painted a buoyant picture for BTC/USD on Friday, the pair hitting local highs of $9,190.

After reclaiming the $9,000 mark a day earlier, that level functioned as support overnight, with Bitcoin fluctuating around $9,100 as of press time.

🗞 Bitcoin Not Affected as US Fed Prints Equivalent of 9.8M BTC in 1 Day

The United States Federal Reserve has funneled the equivalent of half the entire Bitcoin (BTC) supply into the economy — but banks want even more money.

As the New York Fed confirmed on its website, so-called repurchase operations, or “repos,” totalled $89 billion on March 5 alone.

Coronavirus sparks liquidity scum

Repos are designed to provide temporary liquidity to lenders. As Cointelegraph previously noted, the practice is akin to conjuring fiat value out of thin air.

The Fed was reacting to economic weakness in the face of coronavirus, having already cut its interest rate target significantly this month.

🗞 That AlphaPoint $5.6M Funding Round? It’s a Loan

AlphaPoint came from bridge financing, a short-term business loan, the company confirmed to CoinDesk. But AlphaPoint would not say who made the loan or its terms. Bridge financing is often used to cover financial shortfalls.

“We can say that it was led by a new investor whom we cannot disclose with participation from existing investors including Galaxy,” Patrick Shields, head of marketing for AlphaPoint, told CoinDesk.

AlphaPoint, which provides digital asset trading software for cryptocurrency exchanges in various local markets, raised a $15 million venture round in June 2018 led by Galaxy Digital. Half of that amount was subsequently transferred to “a Galaxy managed fund” during the final quarter of 2018. Galaxy took a $3.1 million write-down that remained on the balance sheet in the third quarter of 2019, saying it “was due primarily to the company's performance being below forecast.”

🗞 Gender and Income: Binance US and Stellar CEOs Debunk Myths for International Women’s Da

Binance US CEO Catherine Coley and Stellar Foundation CEO Denelle Dixon join CoinDesk reporter Leigh Cuen to debunk myths about gender for International Women’s Day.

There’s a common myth that women are less likely to be interested in bitcoin than men. The reality is people with higher income levels have a greater propensity for cryptocurrency, and women still earn significantly less than men.

Sexism isn’t only a problem in the so-called third world. A 2010 report by the National Center for Disease Control and Prevention showed roughly 11 percent of reports from women in abusive relationships came from upper-middle-class or wealthy households.

🗞 Could These XRP Alternatives Threaten Ripple?

Depending on who you ask, XRP is either an innovative implementation of blockchain technology with impactful real-world use or a skillfully crafted get-rich scheme for Ripple, the company behind the technology.

Let’s play a bit and explore a few potential XRP alternatives that could threaten Ripple’s position. Moreover, Brad Garlingnhouse, CEO of Ripple, admitted recently that the company would be unprofitable without XRP sales.

Ripple has managed to garner support from a wide range of financial institutions. According to its website, its blockchain solution supports cross-border payments across a network composed of over 200 banks and other financial institutions.

🗞 Daily Crypto News, March, 7th💰

  • Cardano (ADA)

"On the 7th of March Cardano Ambassador, Hideki Takeshi, will be holding a local Cardano Community Meetup in Tokyo."

  • InnovativeBioresearchClassic (INNBCL)

"March 7, listing goes live"

  • Bitcoin (BTC), General Event (CRYPTO), Siacoin (SC)

MIT Bitcoin Expo at the MIT campus from March 7th - 8th.

  • Ontology (ONT)

Deposits open March 6th. Trading begins March 7th.

  • WaykiChain (WICC)

Blockchain meetup & discussion in Muskegon, Michigan at 1 PM.

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STEEM Trading Update by my friend @cryptopassion

Here is the chart of my last analysis :

Here is the current chart :

The Steem is continuing its nice trend and we just broke the resistance line at 0.21$. We are having a nice trend since the start of the fight between Sun and the community. I suppose it is due to many people here who are buying to power up and support witness. Or perhaps Sun is also buying to continue the take over. Hard to know it but one thing is sure, I won't complain about the trend.

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5 comments
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@vlemon,nice analysis...steem will remain bullish for now as there have been so much powering up these past days and there would be more demands for liquid steem this coming week....

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the bitcoin still remains one of the strongest crypto that have been able to remain relevant on the blockchain despite the pressure it has faced in the last two years,the bitcoin market will continue to appreciate and grow higher but one cannot be certain about the exact timeframe when it will occur but investing on bitcoin is a good investment..

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Hi @vlemon!

Your post was upvoted by @steem-ua, new Steem dApp, using UserAuthority for algorithmic post curation!
Your UA account score is currently 4.383 which ranks you at #1586 across all Steem accounts.
Your rank has dropped 34 places in the last three days (old rank 1552).

In our last Algorithmic Curation Round, consisting of 91 contributions, your post is ranked at #15.

Evaluation of your UA score:
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  • The readers like your work!
  • Try to work on user engagement: the more people that interact with you via the comments, the higher your UA score!

Feel free to join our @steem-ua Discord server

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