Bitcoin price is down by 7% over the past 24 hours after losing critical support at $36,000. Only three days ago, the cryptocurrency pushed over $40K but failed to close above the benchmark level. After failing at $40K, BTC started losing altitude on Friday as it broke beneath a short term rising price channel. It then dropped into support at $34,800 and rebounded sharply, but couldn’t overcome resistance at $38K ($37,940, bearish .618 Fib Retracement) as of yesterday.
Looking at the following 4-hour, after it provided support on two different occasions, the MA-50 line got broken down and, moreover, tested earlier today, this time to confirm the line as support-turned-resistance of around $36K.
European football giant AC Milan is the latest sporting organization to jump on the blockchain bandwagon after it announced the impending launch of the $ACM fan token on the Chiliz (CHZ) blockchain.
With the launch expected to commence in the coming weeks, ACM token holders will be able to use their tokens to redeem various exclusive rewards and take part in interactive activities with the club and players.
The addition of AC Milan takes the number of sporting organizations on the Chiliz blockchain to 20. These include fellow European football heavyweights FC Barcelona, Paris Saint-Germain, AS Roma, and Atletico Madrid, as well as various e-sports teams, and leading MMA organization, the UFC.
President-elect Biden’s team recently unveiled additional folks it plans on nominating for various positions after the inauguration on Wednesday.
One key pick is Gary Gensler as Chairman of the Securities and Exchange Commission, or SEC, according to a statement from Biden’s transition team on Monday. On Jan. 12, Reuters reported on anonymous sourcing forecasting Gensler as Biden’s choice. Today’s statement from the Biden team confirms the President-elect’s expected choice.
“Gary Gensler served as chairman of the U.S. Commodity Futures Trading Commission from 2009 to 2014,” the statement said. Coming immediately after the financial crisis, Gensler's term at the CFTC saw him enforcing the provisions of the nascent Dodd-Frank Act in commodities markets.
Ethereum price is in hot pursuit of a new all-time high, while Bitcoin price continues to trade sideways. While Bitcoin price has been trading sideways, crypto pundits have been calling for Ether to breakout and follow BTC’s parabolic move. Within the last hour, Ether did manage a bullish breakout in its BTC pair and USD pair. At the time of writing, the top-ranked altcoin is up 5.43% and trades $1,327.
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