Bitcoin in Crucial Trading Zone
Bitcoin is locked in a pivotal make-or-break trading range after showing some early signs of bull reversal. Technical analyst Omkar Godbole at CoinDesk says although sellers are exhausted, more buying pressure is required to trigger an end to the long bear market.
“Bitcoin is trapped in a key trading range defined by the 200-week simple moving average and the 200- week exponential moving average, currently at $3,404 and $4,106, respectively.
The cryptocurrency needs a break above the upper edge needed to confirm a longer-term bull reversal. Conversely, a move below the lower bound of the range could revive the bear market.”
Coinbase Targets Institutional Investors
Coinbase just launched a highly requested feature for institutional investors, giving them the ability to trade crypto assets directly out of cold storage.
The move lets investors with large amounts of capital easily access and trade their funds in seconds, instead of having to wait for their assets to be unlocked. The move is part of an official merge of Coinbase’s crypto custody platform and its over-the-counter trading desk.
“Coinbase Custody is now directly integrated with Coinbase’s OTC desk. Custody clients can leverage the OTC desk to price and confirm trades before moving funds.
Additionally, we’ve honed this process to make it as simple and smooth as possible — our OTC and Custody client service teams work together to provide a single point of contact throughout the entire process. For clients initiating positions, the process is even simpler: they can buy OTC and settle assets directly into Custody.”
Tron Trolls Ethereum
The team at Tron has apparently sent a real-life avocado to Token2049 in Hong Kong in an effort to troll Ethereum creator Vitalik Buterin. Bitcoin bull Tone Vays posted a video showing someone in a smiling avocado suit with the Tron and BitTorrent logos on it taking pics with attendees.
Documenting for Future:@justinsuntron & @Tronfoundation team r headed to troll @VitalikButerin at #Ethereum Speach #Token2049 w/ #avocado (I can tell u why but will be the fun in that 😂). Who’s side does a #Bitcoin Maxi take?.. Rooting for #Avocado! #TRON $ETH $TRX & king $BTC pic.twitter.com/JDasjetIXH
— Tone Vays [#Unconfiscatable] (@ToneVays) March 13, 2019
The bizarre avocado meme is centered on a Twitter spat between Tron CEO Justin Sun and Ethereum’s Buterin. When word got out that Buterin had once praised BitTorrent, which Tron purchased late last year, Sun made sure crypto Twitter knew about it.
In response, Buterin made an avocado analogy to explain that his affinity for BitTorrent has nothing to do with Tron.
That interview was from Aug 2017. Tron acquired bittorrent in Jul 2018. My praise for bittorrent had nothing to do with Tron.
This is like implying that because I like avocados, I approve of everyone who has ever bought an avocado.
— Vitalik Non-giver of Ether (@VitalikButerin) February 26, 2019
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.