BTC's price structure in the daily remains intact and is on track to test key resistance levels. Today, price didn't move much and maintained its 11,300 - 11,500 range. Currently, price is hovering 11,500. Immediate support sits around 11,100, while immediate resistance can be seen at around 11,700. Meanwhile, in the 4H chart, trend is still good as price is trailing nicely above the moving averages. Key resistance remains untouched at around 12,000, and failure to hold above 11,000 - 10,800 could bring potential invalidation of the current move up.
Global market cap is at $364B, while BTC's market cap is at $213B.
Fake!, a movie based on an unpublished book by Jen McAdam and Douglas Thompson and focused on the OneCoin Ponzi scheme, will be starred by Kate Winslet. OneCoin was founded in 2014 by Ruja Ignatova in Bulgaria, and operated as a typical multilevel marketing scheme with a cryptocurrency twist. It promised that OneCoin was the next Bitcoin, even if it really wasn't backed by a blockchain or a network. McAdam was a victim of this scam, with her family and friends losing over 250,000 Euros. Ignatova was charged with wire fraud, securities fraud, and money laundering, but has not been seen since 2017.
Fake! will be written and directed by Scott Z. Burns, who directed The Report, and wrote the 2011 pandemic movie Contagion, which also starred Winslet.
Ledger, a company that develops security and infrastructure solutions for cryptocurrencies and blockchain applications, is looking to secure MicroStrategy's $400 million Bitcoin treasury through its Ledger Vault. According to Ledger's VP of product, Jean-Michael Pailhon, several companies have been using it since last year. The main feature of this product is to provide custody solutions to enterprise clients. In addition, clients have more ease of access as clients don't need prior knowledge in Hardware Security Modules (HSMs) work for them to use the solution. It would only require 2 to 3 signatories for processing transactions and if there's a need for the company to employ a regulated entity, the client can ask the regulated custodian to become one of the signees in the transaction process.
BitBay, Estonia-based cryptocurrency exchange had an unscheduled outage for almost two hours on Monday, October 12, 2020. According to a tweet by BitBay, the exchange went down at around 4:28 PM UTC andwas restored around 6:10 PM UTC. Prior to the outage, BitBay announced its plan to launch the platform with "the blocked possibility of transaction processing." Users had 30 minutes cancellation window for offers posted before the exchange went offline.
This recent incident was the 2nd unscheduled outage of the exchange in 2020. Earlier, the first outage happened in March where users were unable to trade for more than 18 hours. BitBay explained that this happened due to a "network problem" from its "external service provider."
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