Bitcoin (BTC) reached a new high for the year as price surged above 15,000 yesterday. Currently, price is trading above 15,500. The recent surge took over the 14,000 key resistance easily, and this is a good indication that there's a high probability of price reaching the 20,000 major resistance this year. The next potential target for BTC is around 17,000, while potential immediate support can be plotted around 14,000 (resistance - support role reversal).
Global market cap is at $445B, while BTC's market cap is at $288B.
Square's Cash App, a Bitcoin-friendly mobile payments app from the US, has reported that Bitcoin (BTC) contributed almost 80% of its entire revenue for Q3. According to the firm's Q3 report, Cash App's Bitcoin-derived revenue of $1.63 billion marked a huge increase of 1,100% compared to last year's. While other revenue streams recorded a total of $453 million (22% of the total). Some of the increase in Bitcoin sales were from the app's Auto-invest tool launched in May, which enabled users to do daily or weekly recurring purchases of stock or BTC.
Cash App functions as a broker for Bitcoin purchases - buying on behalf of the user and earns through a small fee from the transaction. Square recorded more than $3 billion in total revenue for Q3.
Bitcoin (BTC) miners are benefiting from the recent price surge in BTC and are likely to cash out according to data. According to Blockchain.com, BTC miners' revenue hit its highest since September 2019 with $20.8 million recorded on Nov. 4. Other factors may have contributed to the increase in miners' revenue such as simultaneous increase in transaction fees with almost 200% surge last October, according to Cointelegraph. Analysts at CryptoQuant are suggesting that there's a likelihoood that some miners are looking to cash out as the Miner's Position index is currently around 4 - values above 2 is an indication that most miners are selling.
Ledger users fall victim to a scam that used a fake version of Ledger website. According to a Cointelegraph report, the scam used a phishing email that redirected users to a website imitating Ledger using a homoglyph in its URL. The fake website replaced the URL with a letter that looked like an 'e'. This fake website duped users into downloading a malware posing as a security update which then drained the balance from the ledger wallet of victims. Around 1,150,000 million XRP ($270,000) were taken from users, according to Cointelegraph.
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