From an anticipated breakout for Bitcoin to Cardano’s promise in Ethiopia, here are some of the stories breaking in the world of crypto.
Crypto analyst Murad Mahmudov lists 20 reasons why he sees an incoming Bitcoin ‘megamonsoon’ if BTC can hold its price range in the mid $5000s. He explains that a level of $5,450 to $5,550 affirms a bullish trend, citing the sharp jump from $4,100 to $5,000 without much slide and a typically violent break upwards that can follow a long-term period of consolidation.
0/20. My list of 20 reasons why I think that if 5450-5550 area holds — its very bullish & megamoonsoon is still on the table:
I repeat, IF, 5450-5550 area holds, THEN, it’s quite bullish.
Saturday Megathread: pic.twitter.com/KBbMj8OdU9
— Murad Mahmudov ? (@MustStopMurad) May 4, 2019
You can check out his full list of reasons here.
As crypto bulls wait for a Bitcoin breakout, US President Donald Trump’s latest threat to increase tariffs on China.
For 10 months, China has been paying Tariffs to the USA of 25% on 50 Billion Dollars of High Tech, and 10% on 200 Billion Dollars of other goods. These payments are partially responsible for our great economic results. The 10% will go up to 25% on Friday. 325 Billions Dollars….
— Donald J. Trump (@realDonaldTrump) May 5, 2019
Trump says that on Friday he’ll more than double tariffs on Chinese goods, from 10% to 25%, and introduce new tariffs, jeopardizing a trade deal, in an effort to protect American workers who compete against Chinese goods.
After Trump’s threat, fresh fears of a sharp sell-off sent Dow futures plunging 500 points.