🗞 Daily Crypto News, May, 3rd 💰

Bull Flag Breakout Brings Bitcoin Price to $9,200 — Altcoins Follow Suit ;
Bitcoin Halving 2020: How the World’s Largest Mining Pool Is Helping Miners ‘De-Risk’;
Digital Dollars Give the State Too Much Control Over Money ;
Coinbase: Bitcoin Is Superior to Gold ;
COVID-19 Crisis Weighs On Crypto M&A, Startups To Sweat Harder;
🗞 Daily Crypto Calendar, May, 4th 💰
Bitcoin Trading Update

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

🗞 Bull Flag Breakout Brings Bitcoin Price to $9,200 — Altcoins Follow Suit

Bitcoin (BTC) price has risen over the $9K mark for the second time in 24-hours. On Saturday the day bulls managed to push the price of the top listed crypto-asset on CoinMarketCap to $9,010 but the price quickly rejected at the top of the bull pennant and pulled back to the $8,800 support before making a successful second attempt at breaking out.

The breakout brought the price to $9,200 and at the time of writing Bitcoin price has pulled back to the $9,100 level where traders are attempting to establish support.

On the shorter timeframe traders will note that the breakout occurred on a slight spike in volume but purchasing volume has now returned to the levels seen earlier in the day.

🗞 Bitcoin Halving 2020: How the World’s Largest Mining Pool Is Helping Miners ‘De-Risk’

"There have been days that F2Pool has lost 100 BTC in terms of having to pay miners without mining blocks themselves, but over a long period of time and with a significant amount of network hashrate those ups and downs even out," said Thomas Heller, the mining pool's global business director.

Though miner revenue has decreased sharply over the last two years from around $0.60 per terahash to $0.10, Heller explained that bitcoin mining continues to be profitable due to the release of more efficient hardware and the discovery of cheaper sources of electricity. Positive movement in bitcoin's price is also a major factor, albeit a frustratingly unpredictable one.

Link to the podcast here

🗞 * Digital Dollars Give the State Too Much Control Over Money

A bipartisan group of U.S. congressmen wrote Treasury Secretary Steven Mnuchin last week, urging him to consider the use of blockchain technology in administering the federal government’s coronavirus response.

This comes just a month after Democrats in the House and Senate proposed bills that would allow individuals to hold checking accounts directly with Federal Reserve banks. Such accounts have been referred to as “digital dollars,” and such plans aim to both stimulate the economy with direct cash injections and bank the unbanked.

Although this may seem like a sleek new idea riding the crest of enthusiasm over blockchains, digital currency and financial inclusion, a similar proposal, dubbed the “Chicago Plan,” was considered by President Franklin Roosevelt during the Great Depression of the 1930s and ultimately rejected.

🗞 Coinbase: Bitcoin Is Superior to Gold

A report published by leading U.S.-based crypto exchange, Coinbase, has argued that Bitcoin (BTC) offers a distinct advantage over gold. They state that Bitcoin is afforded these advantages by its lack of dependence on physical supply chains.

While the report’s authors assert that “Bitcoin and gold are fundamentally similar as scarce and globally accessible units of value,” Coinbase advances that gold’s recent supply squeeze, resulting from the impacts of the coronavirus pandemic, has highlighted Bitcoin’s superior global accessibility.

Coinbase emphasizes the recent price gaps exhibited by gold markets worldwide, as disruptions to supply chains result in disparate levels of scarcity across different markets.

The report notes a roughly 4.5% divergence in the price of gold in New York and London. This divergence resulted from a lack of gold bars that are used to settle Comex’s futures contracts.

🗞 COVID-19 Crisis Weighs On Crypto M&A, Startups To Sweat Harder

More emphasis to be placed on having working products with actual customers.

There might be fewer new crypto startups receiving their own funding, and more later-stage startups being bought up by bigger names.

Several crypto M&A deals have been delayed due to the COVID-19 pandemic and the general economic uncertainty, Torbjørn Bull Jenssen, the CEO of Arcane Research, told Cryptonews.com. Also, crypto startups will need to put more effort in order to secure fresh capital, he added.

The CEO of the crypto research firm is unable to name parties involved in delayed deals due to confidentiality. However, he also stressed “that there are deals going through, so the picture is not all negative.” Also, after the initial financial shock of a coronavirus recession, he expects to see “investment interest coming back in, after a short time out.”

🗞 Daily Crypto News, May, 4th💰

Azbit (AZ)

"As a Monday tradition, #Azbit coin is burned to reduce the number of #AZ circulating on the market, and thus support the price."

BitcoinSoV (BSOV)

BitcoinSoV AMA will be held on 4th MAY 1PM UTC in BlockTalks telegram group.

Ethereum Gold Project (ETGP)

"We are pleased to announce that Ethereum Gold Project (ETGP) Hive account@ethereumgoldetg will be listed on 4th May 2020."

Peculium (PCL)

"Dear users, we are glad to announce that Peculium token will be listed on Coinsbit on the 4th of May at 2 PM GMT."

Verge (XVG)

"Catch me Monday for an #AMA all about Hive account@vergecurrency on telegram at t.me/cryptoprofitchatbox..."

Bitcoin Trading Update by my friend Hive account@cryptopassion

Here is the chart of my last analysis :

Here is the current chart :

STEEM is consolidating just under the resistance line of 0.19$. This kind of pattern could show that the end of the correction is not far. The current consolidation could be needed to prepare the next UP break out so this kind of pattern is not always negative. Let's wait and see the direction that the market will take.

🗞 Daily Crypto News, May, 3rd 💰

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

🗞 Bull Flag Breakout Brings Bitcoin Price to $9,200 — Altcoins Follow Suit

🗞 Bitcoin Halving 2020: How the World’s Largest Mining Pool Is Helping Miners ‘De-Risk’

🗞 * Digital Dollars Give the State Too Much Control Over Money

🗞 Coinbase: Bitcoin Is Superior to Gold

🗞 COVID-19 Crisis Weighs On Crypto M&A, Startups To Sweat Harder

🗞 Daily Crypto News, May, 4th💰

Bitcoin Trading Update by my friend Hive account@cryptopassion

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