Bitcoin
Bloomberg says Bitcoin’s recent rally may be losing steam. Until BTC can sustain a run past $4K, Bloomberg warns its price will likely continue to come under pressure.
“Technical gauges signaling long-term buying demand for Bitcoin are deteriorating, potentially showing that selling pressures could intensify.
After logging its first positive returns in seven months during February and rising off its 52-week lows, Bitcoin’s Moving Average Convergence Divergence indicator has been steadily falling since mid-February.”
Bloomberg Intelligence analyst Mike McGlone says the industry is “ripe to resume a path to lower prices”. However, eToro analyst Mati Greenspan says crypto is approaching the end of the long crypto winter. [the_ad id=”36860″]
“As we approach the culmination of the crypto winter, we’re actually seeing some of the altcoins delivering spectacular gains in the last few weeks. We are now in what industry insiders like to call alt-season.”
XRP
UK-based payment platform PayGlobal says it will add XRP as its first crypto payment option.
The company plans to give users the ability to convert their XRP to fiat and cash out at local ATMs.
Tron
Tron founder Justin Sun says he’s launching a $20-million cash airdrop and giving away a free Tesla. Sun says the giveaway is designed to celebrate the success of BitTorrent Token and the company’s recent partnership with Tether. [the_ad id=”36860″]
To participate, Sun says users need to follow him on Twitter and retweet his post about the campaign. The contest ends on March 27th.