The News of Binance delisting saw trades centered on reaction to the news. Despite the delisting the Bitcoin still held steady at a level just below $5000. The delisting of the Bitcoin SV in the binance exchange pushed the coin down 9% immediately. The drop comes after a significant increase enjoyed at the start if April.
April Boost Values of Crypto, Bitcoin
April saw a boost from Brexit uncertainty which pushed the crypto market to 2019 highs. The value in March 31 was at $4095 but April pushed the major coin to as high as $5320 on Wednesday.
Recently, the Bitcoin fell back but is now showing signs of recovery. As it is settling around the $5000 mark for now. Despite the recent losses, the Bitcoin still has fared better than the stock market. The bitcoin lost 2% for the day and lost considerably in the last few days. Despite losses, it still gained 40% higher than last year’s value and performed better than the S&P for the same period.
The Bitcoin’s Technicals Running Pure
The Bitcoin has resistance levels at $5100 and if it pushes past that the next resistance is at $5150 mark. Support levels are the psychological support at $5000 but could fall up to $4550 before it becomes a bearish trend.
IMF and World Bank Launch Block Chain Token
The International Monetary Fund and the World Bank decided to launch a token designed for internal use. The token is designed to be educational and is a sign of the major institutions opening up about the use of block chains in their transactions.
Congress Looking to Get Clearer Picture on Block Chain Taxation
The IRS has not updated their guidelines for the use of cryptocurrency and how it is taxed. The last update was five years ago. There is now bipartisan support for a possible study about the crypto market and industry.