Bitcoin Today: Now with Tusd
Price
BTCUSD did not manage to hold 8500.0 level yesterday and retraced downwards below the Bullish Trend Line. For now, bitcoin is trading above the 8200.0 level, the short-term price pattern looks bearish. To reconsider the bearish pattern we need to see a breakthrough of the Bearish Trend Line. Nonetheless, the take-off from the 8000.0 level, from a week ago, stays bullish. 8000.0 – 8200.0 zone should remain supportive. From the above, local Bearish Trend Line should be pierced to consider a turnaround movement.
Today forecast
Trading in the 8100.0 – 8500.0 zone.
Latest news
BTCUSD did not manage to hold 8500.0 level yesterday and retraced downwards below the Bullish Trend Line. For now, bitcoin is trading above the 8200.0 level, the short-term price pattern looks bearish. To reconsider the bearish pattern we need to see a breakthrough of the Bearish Trend Line. Nonetheless, the take-off from the 8000.0 level, from a week ago, stays bullish. 8000.0 – 8200.0 zone should remain supportive. From the above, local Bearish Trend Line should be pierced to consider a turnaround movement.
Today forecast
Trading in the 8100.0 – 8500.0 zone.
Latest news
- Binance adds TrueUSD(TUSD) today TrueUSD is basically a verified stable coin that is backed by a fixed value of the US Dollar. It is the first fully collateralized, legally enforceable and attested cryptocurrency that ensures you can redeem your US Dollars from TUSD.
TrustToken made the public announcement of its TUSD launch and Bittrex listing earlier this month and further mentioned: “The market has demonstrated that there is strong demand for a trustworthy trading pair between cryptocurrencies and US Dollars. TrueUSD’s presence on Bittrex meets that need.”
TrustToken also confirmed its registration as a Money Service Business (MSB) that will put them in a stronger position to prevent money laundering and frauds.
TrueUSD seems like an attempt to get the dollar substitute token created properly by addressing the problems Tether faces. Company spreads their message via its website that “We wanted a simple, stable coin, without the need to trust some company’s hidden bank account or special algorithm. Our legal framework enables you to exchange USD directly with an escrow account – we never touch the funds’’. TrueUSD provides stable currency with 1 to 1 parity. With all these features including financial services and exchanges, TUSD gives a tough competition to the older USDT.
To facilitate the USDT – TUSD transition process for those who wish, Bittrex listed a USDT/TUSD pair. Binance did not list USDT/TUSD quote for now.
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