BTC is currently trading at ~$7,280, down~1.4%over the past 24 hours. On the daily chart, BTC broke below its 100-day EMA line over the weekend, and RSI currently stands at ~49 (it has been in this region for the past 2 weeks). On the weekly chart, BTC continues to hold its 100-EMA line, a level it has been battling to hold for the past month.
BTC is still trading within its lower highs and lower lows trading pattern/ channel/ zone it has been trading within since late June this year. It is currently testing the lower bound. 👀
Poll of the Day
How much do you agree with this statement: "2019 was a good year for crypto"
In recent tweet, Tron Founder Justin Sun explained the reasoning behind his decision to donate $1 million to Swedish activist Greta Thunberg, clearing questions on how cryptocurrency could help decrease carbon footprints via creating decentralized settlements.
He said that decentralized settlements and decentralized finance platforms are managed by computers on cloud computing systems that removes the need for paper documentation. 📄
Cloud computing systems need not depend on physical transportation infrastructure due to their digital nature, making it possible for less travel and therefore "easing the travel sector's burden on the environment," which makes up 8% of global carbon emissions.
Adopting a point-of-sales (POS) system also "drastically reduces the massive energy consumption used in traditional point-of-work mining method used by Bitcoin."
China's financial watchdog, the China Securities Regulatory Commission (CSRC), has received an application for listing an exchange-traded fund (ETF), dubbed the Penghua Shenzhen Stocks Blockchain ETF.
The ETF will track and reflect the performance of Shenzhen-listed blockchain-related stocks, and was filed by Shenzhen-based asset management company Penghua Fund before being accepted on 24 Dec by the CSRC. 👀
Should the application obtain final approval by the CSRC, it would become China's 1st completely blockchain-themed ETF available to public investors.
Crypto exchange Binance will suspend Ether (ETH) deposits and withdrawals in order to support the recently announced Ethereum network Muir Glacier update.
ETH trading will be unaffected during the upgrade, and once the upgraded network is considered by Binance to be stable, deposits and withdrawals will resume. 😉
The update will only be activated on the Ropsten testnet network, and is expected to be activated on the mainnet on 1 Jan, 2020.
Other news 📰
Peer-to-peer (p2p) file-sharing leader BitTorrent will be welcoming blockchain-based live streaming platform DLive into its ecosystem to offer p2p content sharing and live streaming features to BitTorrent's 100 million monthly active users. 🤝
Major U.S. brokerage TD Ameritrade hinted at including more cryptocurrency services based on client feedback, not denying their potential inclusion of cryptocurrencies, like XRP, on their platform. 🤨
Binance's U.S.-based cryptocurrency exchange, Binance.US, has begun beta testing of its iOS application after revealing the successful private beta test and inviting its customers to take part in the iOS beta. 🎉
Minuscule transactions that flood and slow the network, usually deliberately created by people looking to disrupt it
Crypto calendar 📅
TBA - Justin Sun's lunch with Warren Buffett
What you said
"How much do you agree with this statement: "I am optimistic about 2020's overall price action for the crypto space""
The average vote was 7.7.
"Why do you think so?"
Yes, end of descending wedge ~ February and a potential last big fall sharply reversed by anticipating a bullish year. China's CBDC could be a catalyst in either direction, which may lead to a Chinese BTC fork (controlling hashrate). May the 4th, a new hope saviour like Jack D - I am speculating. - 😂 Interesting thoughts tho
The Government's are more involved now – They know what’s up
As long as tech and DeFi continue to fortify their systems and keep to the roadmaps they've made, 2020 seems pretty damn exciting either way! – Agree. DeFi is so damn exciting. The vision of decentralized finance doesn’t seem so far away now. 👀
Interest is gaining in crypto worldwide and practical applications for the everyday person like gaining interest on the crypto you own with companies like crypto.com will provide a good increase in the acceptance of crypto as a wise alternative to the traditional banking system. – Yup!!
I'm optimistic because institutional controls are growing the confidence of investors while at the same time, confidence in fiat currency around the world is waning. – The USD could lose its position as the world’s reserve currency. 🔪
Not that I'm inviting any negativity, but how could 2020 be that much worse? 2020 is looking likely to be a better year. Even if the stock market bursts people will pull their money from there and invest it in this space. Plus, the BTC halvening should help later in 2020. I'm very much looking forward to where the coming year takes us and I plan to enjoy the ride! 🙂 – So looking forward to it. I think it would be really interesting to see how BTC performs in a recession. IMO, it would be its true litmus test.
Because when even the Iranian president says he wants to create a digital currency for muslim countries, it means there is some level of universal truth/authority to crypto – Something is definitely brewing. 🍳
2019 we have seen price correction & stabilisation. 2020 we should be seeing some real action on Bitcoin, Ethereum & some good blockchains.. one thing is sure all shit coins will not see any further rise, dump them & get into good coins. - Many will be left behind.
Really excited what 2020 will bring. What coins will moon and which will fall into oblivion, it really feels as if privacy coins getting bit of shaft lately. The BTC halving. It gonna be a great year for crypto space! – Yeah, privacy coins have definitely taken a hit. Gonna be interesting to see what coins will be in the top 10 in 2020!
Thank you all for reading! Catch you back here again on Thursday for your daily dose of crypto news! 💙