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Bitcoin Recovers By 12% In The Last 72 Hours, Market Adds $11 Billion

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In today’s Bitcoin news, we see the flagship cryptocurrency rising from $3,210 to $3,588 over the past three days – which is a surge of about 12% against the US dollar. At the same time frame, the cryptocurrency market has added $11 billion to its valuation and avoided a new drop below the $100 billion mark which could have been very critical for the short-term trend of the market and Bitcoin as well.

Major cryptocurrencies such as Ethereum (ETH) and Bitcoin Cash (BCH) managed to get back on their feet and rebound from low double digits. The technical indicators started showing extremely oversold conditions – but despite this – traders and analysts remain cautious towards the price trend of cryptocurrencies until major resistance levels are broken.

The $3,700 mark for Bitcoin means that a small bullish momentum is building up over the past few days. According to DonAlt who is a prominent cryptocurrency technical analyst, Bitcoin must remain in a tight range in the $3,000 region until it breaks out of it to engage in a major price movement.

“Another good day for BTC. That said it’s still nowhere close to turning bullish on the higher time frames. While the low timeframes look decent, BTC hasn’t even reclaimed the previous trading range. Until it does, no swing long trades,” the analyst said in a tweet.

Another analyst named Alex Kruger talked about the general losses of Ethereum and Bitcoin Cash this year,explaining:

“Performance from all-time-highs to date, for the main crypto assets: BTC -82%, XRP -86%, ETH -93%, BCH -95% (using Bitfinex’s data). These may all look equally bad. It is not so. The difference between -82% and -95% is a further 72% drop.”

Historically, the cryptocurrency market needs around 67 weeks on average to recover from a large correction and achieve new highs.

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Bitcoin News

Binance Enables Australian Users To Buy BTC At 1,300 Newsstands

Binance Lite Australia is the new platform of Binance launched in Australia that allows users to buy bitcoin at more than 13,000 physical locations around the country. In our latest crypto news, we find out more about this great news. The introduction of Binance Lite comes after the company TravelByBit invested in Binance in order to get closer to the users and to utilize cryptocurrencies at the airports around the country. The CEO of Binance Wei Zhou explained that this decision is extremely important for the company since it will bring new users to the platform and to the entire crypto ecosystem in a place where the government is supporting the blockchain sector. Zhou explained:
‘’Binance Lite is a simple site for users to easily buy bitcoin with cash at physical store fronts. This model makes it really easy to bring new users into crypto, starting with Australia, where the government has taken proactive steps to support the blockchain industry. Users won’t have to open complicated online accounts to start using the service.’’
The crypto market in Australia was a little behind than other markets in the world such as South Korea or Singapore because the banks didn’t support the crypto businesses in Australia. Back in 2017, during the strongest crypto rally, reports show that the larger Australian banks closed the accounts on multiple crypto investors. However, starting last year, the government of Australia began its proactive approach in regulating the crypto space and the blockchain industry so the investors are now hopeful that they could improve the market in the long run. Zhou also said that more than $5 billion in crypto was traded in crypto in 2018 in Australia and that since then the government is funding blockchain startups and companies by issuing bonds on the blockchain. The government has also started to accept crypto on airports such as the airport in Brisbane and even held a voting trial on the blockchain. He finished his interview by saying:
 “Binance Lite also completes a comprehensive value chain for the Binance ecosystem in Australia. For example, users can show their friends how to buy bitcoin from Binance Lite stores, immediately load it up onto Trust Wallet on their phones, and go on to spend this bitcoin in shops accepting bitcoin payments through TravelbyBit, the payments startup Binance invested in last year.’’
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Bitcoin News

Binance: Australians Can Now Buy Bitcoin With Cash From 1,300+ High-Street Stores

One of the largest cryptocurrency exchanges out there, Binance, has recently unveiled its platform in Australia that lets users buy Bitcoin with cash from many high-street stores. The cryptocurrency news was officially announced on Tuesday in a blog post published by the exchange. In the official post, Binance announced the new gateway that is named Binance Lite Australia - and is designed as a cash-to-Bitcoin brokerage service that will be accessible in more than 1,300 newsagents and stores across the country. Right now, the platform gives users the option to buy only Bitcoin using Australian dollars (AUD) but there are plans for more cryptocurrency and fiat support options in the future, as Binance unveiled. The process of buying BTC from stores in Australia is simple - users need to carry out an account verification process and place an order to buy Bitcoin online. They could deposit cash at the nearest newsagent and receive crypto "within minutes" as the announcement unveiled. When it comes to fees, there is a 5% transaction fee plus goods and services tax (GST) on all of the Bitcoin purchases. The CFO at Binance, Wei Zhou, commented on the new release, stating:
“Binance Lite Australia further expands digital currency adoption by providing easier ways to buy bitcoin. We are excited to continue to roll out more fiat to crypto gateways around the world to support the growth of our industry. We firmly believe that more adoption will lead to more innovation and more economic opportunities.”
The account verification will occur on www.binancelite.com - and after that - users can deposit cash at the nearest Newsagent stores to receive crypto within minutes. Binance Lite Australia was designed as simple and easy to use and it sstate-of-the-art order processing technology guarantees maximum safety. Binance recently integrated the credit card payments on Binance.com and launched the fiat-to-cryptocurrency exchange (January 2019) with zero deposit fees - becoming one of the lowest priced exchanges for trading with Euros, British pounds and BTC and ETH. The fiat gateways also included the Binance Uganda, another exchange which supports the trading of Ugandan Shillings for cryptocurrency.
“Australia has been at the forefront of blockchain innovation, and we hope Binance Lite Australia can play a role to help further this cause,” Zhou concluded.
 
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Altcoin News

Tech Giant Kakao May Introduce Millions Of People To Crypto

One of the largest social media and technology heavyweight company named Kakao and based in South Korea - is in today's crypto news for joining the fray and taking a place in one of the most forward-thinking companies that are embroiled in crypto. According to the recent push for the adoption of this innovation, Kakao seems interested in the world of Bitcoin and altcoin cryptocurrencies. It has a user base that counts millions of people - in fact 44 million - which could soon become crypto users thanks to a new report and crypto wallet feature. Even though this is not yet confirmed, a media outlet named Financial News (FnNews) recently  reported that Kakao's 44 million user base that are using the popular messaging platform KakaoTalk - will soon be exposed to digital assets such as Bitcoin. Following these news, many industry insiders commented that the Jeju-based company will use a "crypto wallet" and give millions of South Koreans the ability to interact and indulge in a variety of blockchain ecosystems. The report also says that using the application will be easy - or as easy as sending a message. In that manner, users could send or request for cryptocurrencies in a few clicks, reducing the barrier to entry completely. What's interesting is that executives from Kakao are neither denying nor confirming these rumors. One unnamed representative, however, did note that the company is looking into blockchain technologies. From this, it is logical to assume that Kakao at least has some form of a crypto storage prototype technology. And while Kakao is mysterious when it comes to the new things happening at the company, another South Korean technology giant named Samsung - recently revealed the "Blockchain Keystore" feature that is built into its Samsung S10 smartphone lineup which launched last month in order to widespread the hype. According to users, this can store Bitcoin but also work like an Ethereum-centric dApp browser. Per analysts, Kakao should definitely mimic Samsung's move and create something valuable in the crypto world, going in line with the trend and giving its user base something more innovative and more usable to implement. Let's just hope we see an official announcement soon!
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Altcoin News

Cryptopia Exchange Resumes Its Trading On 40 Crypto Pairs

The New Zealand-based cryptocurrency exchange Cryptopia is in the digital currency news today for resuming its trading operations on 40 trade pairs including Bitcoin. The news emerged from a tweet in which the firm confirmed the resuming process on March 18th. In the tweet, the company announced that it has "“resumed trading on 40 trade pairs that were quantified as secure" and said that the exchange "will continue to expand this list as we clear more coins.” https://twitter.com/Cryptopia_NZ/status/1107811759941779456 This update follows the exchange and its recent announcement of the plans to reopen its trading on the platform by the end of March, after the $16 million hack that occurred in mid-January this year. In January, Cryptopia suspended its services after detecting a major hack that apparently "resulted in significant losses." The platform then informed the public that it was undergoing unscheduled maintenance and issued several updates before it disclosed the breach. After the initial reports of the hack, more evidence surfaced showing that hackers were siphoning crypto out of the exchange as late as two weeks later. As previously reported, the co-founder of Cryptopia Rob (Hex) Dawson said that the company re-launched its website in read-only form on March 5th however the platform showed the balances as they were at January 14th which is the date of the hack. To explain things, the exchange said that the website could be used to reset passwords and two-factor credentials right now - which is also important in terms of client support in this current stage. Hex also said that the users who lost their crypto holdings would see a section that is named "Withdraws on your account for those coins," further explaining that transaction IDs (TXIDs) for the withdraw orders won't exist on the network but may include details on how the coin have been impacted during the event. There are mixed feelings about this grand Cryptopia reopening on the market. While some are encouraging the exchange to get back in its full operations, others are accusing it of trading manipulation. https://twitter.com/mendax20801467/status/1107813280691576832 https://twitter.com/dilifatur/status/1107823819018780672 It is unclear how Cryptopia will these with these comments - but then again - we are ready to see how everything will play out.
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