๐Ÿ—ž Daily Crypto News, March, 11th ๐Ÿ’ฐ

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  • Bitcoin Price Below $8,000 Again โ€” Will Bulls Buy the Dip This Time? ;
  • Iota Network Relaunched Following Trinity Wallet Theft ;
  • Ethereum Conference Attendees Urged to Test for Coronavirus;
  • The Cryptocurrency Act of 2020 Is โ€˜Dead on Arrival,โ€™ Washington Tells Sponsors ;
  • Bitcoin Options Saw Record Volume of $198M Amid Recent Price Drop ;
  • ๐Ÿ—ž Daily Crypto Calendar, March, 11th ๐Ÿ’ฐ
  • STEEM Trading Update

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

๐Ÿ—ž Bitcoin Price Below $8,000 Again โ€” Will Bulls Buy the Dip This Time?

Bitcoin (BTC) price has taken another dip below $8,000, dropping 5.11% to $7,728 after touching a daily high at $8,149. The pullback occurred shortly after the New York State Governor Andrew Cuomo announced that a 1-mile containment area of New Rochelle, a suburb of New York City, would be quarantined for at least two weeks.

Cuomo also deployed the US National Guard to the area and all schools and public facilities will remain closed as the National Guard will assist with distributing food to those quarantined in their homes. Cuomo described the situation as a โ€œmatter of life and death.โ€

Traditional markets opened robustly before also dropping 4 to 5% but at the time of publishing both the S&P 500 and DOW are posting minimal 0.95% and 0.70% gains.

At the moment, Bitcoin needs to reclaim the $8,000 to $8,150 range before traders waiting along the sidelines show interest in the digital asset, although there are bound to be a number who opened long positions on yesterdayโ€™s drop to $7,629.

๐Ÿ—ž Iota Network Relaunched Following Trinity Wallet Theft

After almost a month following a massive hack, the Iota Foundation has brought their network back online.

The Iota network was relaunched on Tuesday following the Feb. 12 attack on the platformโ€™s Trinity Wallet software. Although the network was shut down that same day to prevent further security breaches, 8.55 million MIOTA โ€” approximately $2 million โ€” was stolen from 50 users of the digital asset wallet.

In a March 10 blog post, the IOTA Foundation announced the Coordinator โ€” the centralized node curating all transactions โ€” was back online following a seed migration period.

"The IOTA Foundation is overhauling its internal processes, with upcoming changes to software security practices, improvements to our security capabilities and resources, and expansion of our efforts in education and best practices for any software that handles user accounts on the IOTA network."

๐Ÿ—ž Ethereum Conference Attendees Urged to Test for Coronavirus

On March 11, the co-founder of decentralized login service provider TorusLabs, Zhen Yu Yong (Zen), tweeted that he had been diagnosed with coronavirus COVID-2019.

Zen urged people who may have been in contact with him during the ETHLondon hackathon held from Feb. 28 until March 1, or the Ethereum Community Conference (ECC) held from March 3 to March 5 in Paris, to take โ€œextra precautions and/or get tested.โ€

ECC exempt from French ban on large indoor gatherings

The coronavirus threat has impacted several major cryptocurrency conferences in recent weeks, with the Paris Blockchain Week 2020 recently being postponed until Dec. 9 after France instituted a ban on large indoor gatherings from the end of February. However, the ECC was exempt from the ban as it had less than 5,000 attendees.

๐Ÿ—ž The Cryptocurrency Act of 2020 Is โ€˜Dead on Arrival,โ€™ Washington Tells Sponsors

An omnibus bill aimed at comprehensive reform of U.S. cryptocurrency regulation was introduced Monday by Representative Paul Gosar (R-Ariz). It is thought to have little chance of passage at present but, according to lawyers and backers in the industry, it does provide insight into what a top-to-bottom new law governing crypto could look like one day.

Marshall Hayner of Metal Pay and Erik Finman, who became a millionaire from bitcoin (BTC) before the age of 18 and now runs an investment fund, contributed to the discussion draft.

Presented on March 9, the โ€œCrypto-currency Act of 2020โ€ sets out to define categories of digital assets and clarify which federal agency will oversee each tranche.

๐Ÿ—ž Bitcoin Options Saw Record Volume of $198M Amid Recent Price Drop

Trading volume records in bitcoinโ€™s options market were smashed on Monday as investors scrambled to hedge their positions amid the sell-off.

Major exchanges โ€“ Deribit, LedgerX, Bakkt, OKEx, CME โ€“ registered total trading volume of $198 million, surpassing the previous record high of $171.3 million reached on Feb. 11, according to crypto derivatives research firm Skew Markets.

Deribit, the worldโ€™s biggest crypto options exchange by volume, contributed nearly 86 percent, or $170 million, of the total trading volume on Monday. Chicago Mercantile Exchange (CME) traded $2.1 million, while Intercontinental Exchangeโ€™s (ICEโ€™s) Bakkt did not trade any contracts. Bakkt last registered activity on Feb. 27 and prior to that on Feb. 12.

๐Ÿ—ž Daily Crypto News, March, 11th๐Ÿ’ฐ

  • BitTorrent (BTT), TRON (TRX)

"The next one [snapshot] will be on Mar 11th."

  • Bitpanda Ecosystem Token (BEST), Crypto.com Coin (CRO), General Event (CRYPTO), Gemini Dollar (GUSD), SwissBorg (CHSB), XRP (XRP)

CryptoCompare Summit in London.

  • General Event (CRYPTO)

Blockchain Africa Conference 2020 from March 11-12 in Johannesburg.

  • General Event (CRYPTO), XRP (XRP)

ISC2020 in Edinburgh at Edinburgh Napier University.

  • Crypto.com Coin (CRO)

"Join us at our first London Meetup on 11 March from 6PM at WeWork 30 Churchill Place, E14 5EU!"

  • Horizen (ZEN)

Trading Pairs: ZEN/KRW, ZEN/USDT. Deposit opens: March 11, 14:00 KST Trading opens: March 11, 17:00 KST. Listing brings first ZEN:KRW pair.

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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 support line at 0.21$ is creating each time a solid bounce from it which is a very good news and is validating that nice support. We need now to go in the direction of the resistance line around 0.23$ in red on my chart. I don't know what STEEM will give us in the future but from a TA point of view, this is a nice UP trend which is taking place.

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