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Binance Coin Price Risks Dropping Below $19 as Bears Retake Control

Binance coin price risks dropping below $19 as bears retake control

Binance Coin Price Risks Dropping Below $19 as Bears Retake Control

Binance coin price risks dropping below $19 as bears retake control

It was to be expected some bearish momentum would begin affecting all cryptocurrency markets today. So far, the pressure is still pretty insignificant, although there are some markets which already show cracks in the facade. The Binance Coin price, while widely considered to be the market to watch in this industry, is on the verge of dropping below $19 again.

Binance Coin Price Remains Under Pressure

After noting the major gains earlier in the year it seems Binance Coin is slowly returning to more normal and sustainable levels. Although some people will continue to claim this market is overvalued and also overbought, a price of $19 doesn’t seem that abnormal. Traders will not be happy with the market cap dropping below $3bn again, but that is to be expected after such a strong run.

More specifically, the Binance Coin price currently faces a 1.41% deficit. Its USD value sits at $19.01, although it seems unlikely the price will remain above $19 for much longer. There are also setbacks in ETH and BTC value, which is only normal under these current circumstances.  Overcoming these deficits is not entirely impossible either, but there has been significant pressure on BNB ever since its last bull run came to an end.

When it comes to social media activity, there are usually two camps. Those who believe in BNB and those who think it is a project which will meet its own demise fairly soon. EXRN_Brain is confident BNB will continue to be of great value throughout 2019. Claiming how all other markets followed the BNB bull trend is a bit odd, considering none of those markets derive value from Binance Coin in any way.

There is another exchange which has suddenly decided to list BNB as well as a few other currencies. Albeit EXNCE is not a big name in the industry at this time, they now allow for ETH, BNB, and TUSD trading pairs. It can improve the overall liquidity for this altcoin, albeit no major shift is to be expected at this time or in the near future.

One of the more remarkable tweets comes from Mavega C. It seems this user has experimented a bit with Decentraland and taking a VR walk in Binance Park. Messages like these show how creative cryptocurrency enthusiasts can be. Even though it may not amount to much, this Binance Park certainly helps create a buzz for the token in question.

As is always the case in cryptocurrency, a current trend is not indicative of how markets will evolve over the coming hours and days. Right now, Binance Coin is under pressure and may even drop below $19 before the day is over. Tomorrow, or in a few weeks from now, the situation can be very different once again.

Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.

Image(s): Shutterstock.com

Published at Sun, 07 Apr 2019 18:08:12 +0000

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Mexican Bitcoin Exchange Bitso Aids Red Cross Earthquake Relief Efforts

Bitcoin exchange Bitso helps mexican hurricane relief

Bitso, a cryptocurrency exchange in Mexico, has continues its campaign to aid the victims of the recent earthquake in Mexico.

A few days ago, Bitso announced their support for the Mexican people who were affected by the recent earthquake. The cryptocurrency exchange has enabled donation wallets that can be used by the company’s clients to send aid using different digital currencies, such as bitcoin, ether and ripple. According to Bitso, cryptocurrency donations are a quick and efficient way to help the victims since the assets are easy to transfer.

Unfortunately, some people have lost their homes, their belongings, and sadly even the lives of their loved ones. We are hoping this aid will help them return to their daily activities as soon as possible.

Thousands of homes were destroyed and nearly 100 people have died across the country as a result of an earthquake that struck just before midnight on September 7. It reached a magnitude of 8.2 on the Richter scale.

The donation details can be found on the cryptocurrency exchange’s blog:

“Join this campaign and help the efforts made by the RED CROSS in Mexico by using the hashtag #BitcoinAidMexico and make a donation to one of the following accounts:
bitcoin (BTC) 1DaHfXsoPfZ2jznJhB62vR3QEVFhhZ2tMR
Ethereum (ETH) 0x88B6021aE4BB9830f2E9D5BB38B83427b9D7ffEc
Ripple (XRP) rEFMdiTbLmZq5ZiMGrWGoyP48DMFqXjNkM [No Destination Tag required]”

The Red Cross thus far has been able to set up collection and relief centers in several areas affected by the earthquake, especially in the southern states of Oaxaca and Chiapas, benefiting around 24,000 people.

Due to the transparency, traceability and real-time reporting of the technology, donations can be easily tracked by users at any time. The total amount Bitso has raised will be exchanged later for Mexican Pesos (MXN) at market rates. Bitso wrote:

“The equivalent amount in Mexican Pesos will be transferred using a local bank wire to Cruz Roja I.A.P. (RED CROSS Mexico) to the bank account CLABE 012180004040404062. This CLABE number can be validated on their website https://www.cruzrojamexicana.org.mx or on their twitter account: https://twitter.com/CruzRoja_MX/status/906600599864582144”

The deadline for sending the funds is September 15; however, Bitso added that if they still receive funds later, the company will exchange those donations between September 15 and 22, and wire them to the Mexican Red Cross.

Bitso highlighted that there is no minimum amount for donations and that they will accept all transactions. The company wrote that the fundraising started with them donating MXN $50,000, which will be added to the total amount of donations.

The amount the company has raised and the transaction proof will be publicly displayed for total transparency.

Bitso emphasized that although the Mexican Red Cross will ultimately receive the funds, user contributions cannot be used as tax deductions.

“Important: BITSO will not make any user contributions tax deductible. Mexican Pesos will be transferred on behalf of third parties according to Mexican law LISR artículo 35, and the following TIN XAXX010101000 will be used in order to generate the corresponding payment as ‘General Public Invoice.’”

The post Mexican Bitcoin Exchange Bitso Aids Red Cross Earthquake Relief Efforts appeared first on Bitcoin Magazine.

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