The final day of the week ended in the green to the three key indexes. The Dow Jones Industrial Average (DJIA) rocketed up 704. 81 points (roughly 3 percent ) to close at 24,242. 49. The S&P 500 went up 75. 01 points (about 2.7 to close at two,874. 56. The NASDAQ Composite advanced 117. 78 points (about 1.4 to close at 8,650. 14. All this optimism and hope has been based on a medication report released by Gilead Sciences, which showed some promise for treating the coronavirus.
As for information within the crypto world, a number of the significant headlines include a price forecast for Bitcoin (BTC), the launch of a Binance (BNB) Smart Chain white paper, and Nassim Taleb advocating using cryptocurrencies.
Bitcoin (BTC) Price Prediction — Retest of $7,000 Before Blasting Off to $7,500
Yesterday morning was strong bullish impulse for the normal cost of Bitcoin (BTC). Because of this, this pushed the BTC/USD pair over the $7,026 mark. From the end of the day, the purchase price of BTC managed to get a foothold above this service level.
BTC/USD Chart by TradingView
Overnight growth wasn’t supported by substantial volumes, and a local maximum was set around the $7,224 area. The following morning, the priced rolled back from its maximum.
Looking at the traces in the Stochastic Relative Strength Index (Stoch RSI), the purchase price of BTC is currently in the overbought zone. A rollback to the normal price region can therefore be anticipated in the not too distant future. If the 2H EMA55 provides support, then expansion may continue into the $7,300 mark.
BTC/USD Chart by TradingView
Yesterday’s increase to $7,190 markers closed over $7,000 using a complete candle, indicating buyer strength. It’s likely not the typical elimination of short positions. For now, the big picture is an upswing. To confirm this, the bulls will need to keep the purchase price above $6,900 and pass the $7,150 immunity level. If that’s true, then dealers can expect a significant increase to its previous local maximum of $7,459 or greater.
Binance (BNB) Smart Chain White Paper Published
Binance has divided to the decentralized program market by producing the Binance Smart Chain, a particular parallel blockchain to land intelligent contracts. The Binance Smart Chain, which is cross-chain interoperable, will utilize a Proof-of-Stake Authority consensus. Because of this, staking the Binance Coin (BNB) will be accessible to all users.
According to the newly published white paper, the reason a different chain was required was because:
The implementation of a Smart Contract may slow down the trade function and include non-deterministic Elements to trading
While Binance (BNB) is aware of the situation from the dApps marketplace, EOS (EOS), Ethereum (ETH), and Tron (TRX) have managed to deal with the requirements of dApp developers.
Pro-Bitcoin (BTC) Nassim Taleb Recommends Using Cryptocurrencies
With developed countries announcing one stimulus package after another to counteract the effects of this COVID-19 pandemic, some authorities are screwing over its own citizens. Nassim Nicholas Taleb, author of The Black Swan, emphasized the value of cryptocurrencies as a tool for cross-border remittances.
Based on Pierre Madani, Chief Financial Officer of Kafalat S.A.L., BDL has started to confiscate hard currencies from over-the-counter remittances due to hyperinflation for the Lebanese Pound (LBP) and the national banks losing charge. Rather than getting stable foreign currencies, beneficiaries can simply acquire the ‘worthless’ LBP.
Taleb, a significant advocate for Bitcoin (BTC) and other financial institutions involving cryptocurrencies, considers that they can replace the classical remittance and exchange instruments in emerging markets. He also applauded the anti-authoritarian character of Bitcoin (BTC) and other Significant cryptocurre