Over the weekend, total market capitalization dropped from ~$238.8 billion to ~$233.6 billion, with most coins seeing losses in the ~1-5% range.
BTC is currently trading at ~$8,540, up ~1.8% over yesterday. On the daily chart, BTC is still trading below its 21-, 50- and 100-day EMA support lines, and RSI is at ~41 (has been steadily dropping over the past month), indicative of growing bearish momentum. On the weekly chart, BTC broke below its 21-EMA support line for the second time in the past 3 months. BTC continues to be trading within its lower highs and lower lows trading pattern it has been trading within since late June this year.
Poll of the Day
How much do you agree with this statement: "I find this current, slowly slipping, crypto market unsettling."
Following Alibaba's denial of a partnership with Bitcoin (BTC) rewards shopping application Lolli on Singles' Day, Lolli CEO Alex Adelman has come out to refute of the denial.
Adelman insisted that Lolli did have a partnership with the Alibaba Group in a collaboration "since May through AliExpress," and "have driven AliExpress significant revenue and distributed bitcoin rewards to our users." 🗣️
He maintains that Alibaba's denial was unfair to Lolli, after the former "trialed our [their] services for 24 hours and decided to break the partnership without cause - breaking its contract."
Allowing Alibaba to quash the partnership would cause Lolli to be mislead and defamed when "we [they] did nothing wrong and abided by everything we [they] contractually agreed upon with them."
Push and push 👐
The Twitter profile of local news channel, Venepress, recently tweeted that Venezuelan President Nicholas Maduro announced that the country's pensioners and retirees will be paid their Christmas bonus in the national cryptocurrency, Petro, in a move to drive Petro into pensioners' wallets. 💵
Petro was launched in February 2018 amidst worries among foreign onlookers. Despite being denounced as an "opaque stunt," the national cryptocurrency and cryptocurrencies itself are still being increasingly pushed by the government.
Deputy of the National Constituent Assembly of Venezuela, Francisco Torrealba, mentioned that he thinks" all currencies will be replaced with cryptocurrencies," and backed Maduro as making "a great contribution" to the country with Petro's creation.
HODL gang 🤑
Swiss-based email service ProtonMail recently revealed that it has not yet cashed in any of the Bitcoin (BTC) it obtained as payment for its premium service in years, in a tweet response to a customer who lamented that he felt guilty for spending BTC on a ProtonMail invoice rather than "hodling". 😣
The exchange came after a tweet from the CCO of digital gift card retailer BitRefill that urged Bitcoiners to not "put your [their] Bitcoin to work".
The premium Protonmail service is pro-BTC, allowing current email customers to pay for their premium account in BTC, and has since received over 200 BTC from it.
Other news 📰
Almost 200 Bitcoin (BTC) developers are reviewing BTC improvement proposals that could lead to improved privacy and scalability for leading cryptocurrency. 🔏
ConsenSys CEO Sam Cassatt has stepped down to start a new venture fund focusing on "evolutionary changes in human behavior". 😀
Germany's BaFin has issued a cease-and-desist order against Karatbin Foundation.