Crypto Today: Bitcoin set to retest critically breached range block


Here's what you need to know on Wednesday

Markets: 

  • BTC/USD is currently trading at $8,114 (+2.25%) in the afternoon in U.S. hours, following a wave of upside momentum as price smashes through $8000 barrier. 
  • ETH/USD is currently trading at $140.15 (-1.90%), losing ground on the key $140 mark.
  • XRP/USD is currently trading at $0.2085 (-1.85%), much profit-taking coming into play following the big bull run on Monday.
  • Among the 100 most important cryptocurrencies, the best of the day are BCD $0.407484 (+25.60%), NEX $1.03 (10.49%) and ZEN $8.84 (+10.30%) and The day's losers are SNX $0.000247 (-12.90%), KNC $0.0.079452 (-10.70%) and CENNZ $0.95382 (-8.70%).
  • Chart of the day: BTC/USD daily chart. (BTC/USD retesting 29-30 November top area)

Chart of the day: BTC/USD daily chart

Market:

  • Bitcoin is perhaps Bitcoin, perhaps debatably finding its place as a so-called safe-haven asset, has moved sharply higher after Iran retaliated for the U.S. killing of Iranian general Qassem Soleimani. Additionally, it had rallied upon the initial assassination by the U.S. 
  • Kraken announced that it will list USD Coin (USDC) starting tomorrow. USDC is a stablecoin backed by the CENTRE Consortium an organization founded by Coinbase and Circle.
  • Attackers demanded a payment of $6 million worth of bitcoin after hacking Travelex, a foreign currency exchange company. It is the latest victim in an explosion of ransomware attacks seeking crypto payouts. 

Regulation:

  • Capital Markets Board of Turkey has plans to regulate crypto transactions, according to local sources. Capital Markets Board of Turkey (CMB), the regulatory body overseeing securities markets in the country, is developing a guideline to observe, audit, and regulate the crypto markets in the country, according to major Turkish media outlet Hurriyet.
  • Cryptocurrency exchange, Kraken, has recently sent out its 2019 Transparency report. The report had detailed the amount of law enforcement inquiries. It states that the Kraken exchange has received 710 requests, or about two requests a day, in the year 2019. These requests impacted around 1222 different accounts. The report shows evidence that global governments are putting their gaze on the crypto industry, scrutinizing even more intensely than before.

Industry:

  • A South Korean committee directly under the president is recommending several measures to the government that will make cryptocurrency mainstream. They did emphasize that “it is no longer possible to stop crypto asset trade,” the committee recommends integrating crypto into the country’s financial system, allowing financial institutions to directly offer a range of crypto products, including derivatives, listing bitcoin on the country’s stock exchange, and more.
  • Binance announced its partnership with Satang Corporation, a regulated crypto exchange in Thailand, to enable Thai baht deposit and withdrawal channels on its primary platform.

Quote of the day:

Well, it's all about the money and the money's threatened.

So you go for broke. You think it's your last stand. And it is.

Because between Bitcoin, bank wire transfers, and digital propaganda, you handed global law enforcement the most evidence in history.

Eric Garland



 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

Crypto bulls unfazed by flash crash

Bitcoin price action initially shakes off strong selling pressure, finds buyers at support, then resumes some selling pressure. Ethereum price action mixed post-all-time high rejection. XRP price awaits its own bullish breakout and an opportunity to outperform its peers.

More Cryptocurrencies News

MATIC price ready for new all-time highs as $188 million flow into Polygon

The total number of transactions on Polygon network dropped nearly 15% due to a rise in transaction fees over the past week. This hasn’t negatively impacted the network as the number of unique daily active users remained stable. 

More MATIC News

AVAX price offers a bullish opportunity before Avalanche hits new all-time highs

Avalanche (AVAX) price has seen a bullish outbreak on Thursday after it broke out above – and then retested – the red descending trend line at $61.62. With even more buyers and bulls coming in, expect a run towards new all-time highs at $81.

More AVAX News

XLM price building base for bullish breakout

Stellar bulls are in the last phase of completing a bullish triangle. As XLM price is getting squeezed against the base ($0.40), expect a quick breakout of 12%. After taking a breather, expect another 10% of profits to follow. 

More Stellar News

BEST CRYPTO BROKERS/EXCHANGES




Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

Read the weekly forecast

BTC

ETH

XRP