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Bitcoin tumbles and comes back above $7,000

Summary:

  • Bitcoin crazy volatility keeps going as the cryptocurrency slips well below $7,000 and bounces back thereafter
  • Five cryptocurrency exchange operators in Japan withdraw applications with the FSA
  • Ford seeks to use blockchain technology so as to communicate cars while they are on the road

Most of stock markets are closed today due to Good Friday albeit currencies as well as their digital counterparts are trading on a normal basis. Therefore, it needs to pay more attention to the latter especially to Bitcoin which has seen an incredible jump in volatility of late. Namely, the price slumped from ca. $8000 to as low as $6500 this morning just to make a major comeback back above a $7000 handle again. There were no specific reasons standing behind such a move but one may blame thin liquidity due to Easter holiday. While a short-term chart seems to bode quite well for the most famous cryptocurrency, as depicted at the chart below, the longer-term prospect appears to tell a different story. Keep in mind that Bitcoin may face some hurdles when it wants to be implemented to payment systems globally, and technically the virtual currency remains still at stake of a possible death cross seen at a daily time frame - both themes we’re writing about more yesterday.

link do file download linkBitcoin made a major comeback bouncing off a low a notch above $6500. At the time of writing the virtual currency is trading clearly above $7000 while a more notable resistance might be localized at around $7300. Source: xStation5

Five cryptocurrency exchange operators in Japan withdraw applications with the FSA

According to the Japanese agency NIKKEI five domestic digital currency exchange operators have withdrawn their applications with the Japanese Financial Services Agency (FSA) to register their digital currency exchanges there. Furthermore, there are some talks that more are expected to follow, as the FSA has given several exchanges a chance to voluntarily close before ordering them to do so. The major reason why some companies chose to do so was a need to improve their data security and other safeguards which they failed to implement. However, the news outlet reassured that "the companies will leave the exchange business after returning clients’ cash and cryptocurrency holdings".

link do file download linkLitecoin is catching a bid in the morning retreating from a support placed a bit above $105. The ongoing move could take the price at least toward $136 where an array of sellers might lurk. Source: xStation5

Ford seeks to use blockchain technology so as to communicate cars while they are on the road

The US Patent and Trademark Office published a document granting Ford a patent designed to facilitate so-called "vehicle-to-vehicle cooperation to marshal traffic". If the system works as designed it could bring the alleviation of traffic congestion which would be welcomed by the biggest cities in the world.

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