Bitcoin (BTC) continues to create highs this year as price just hit new record for 2020 at around 16,500. However, BTC took a pullback to its trail support around 15,700 (10 EMA trail) during the weekend. Currently, BTC seems to have started the trading week strong as price is back above 16,000. However, a break below 15,700 - 15,500 could push price down to test support levels around 15,000 - 14,700. Overall, the bullish structure is still holding well as there hasn't been any deep corrections yet, next potential targets can be seen around 17,000 - 18,000 if BTC is able to sustain a break above 16,500.
Global market cap is at $461B, while BTC's market cap is at $300B.
Andrew Thurman
Senator-elect Cynthia Lummis expressed her support for the popularization of Bitcoin (BTC) in an interview with ABC News during its program "GMA3: What You Need to Know" on Friday, Nov. 13. Lummis cited her experience as a former state treasurer saying "I’m a former state treasurer and I invested our state’s permanent funds, so I was always looking for a good store of value, and Bitcoin fits that bill. Our own currency inflates; Bitcoin does not. It’s 21 million Bitcoin will be mined, and that’s it, it is a finite supply. So I have confidence that this will be an important player in store of value for a long time to come."
Cynthia Lummis is reportedly the first female representative of the state of Wyoming to the senate and is an early adopter of Bitcoin, according to Cointelegraph. She first discovered BTC in 2013 from her son-in-law, Will Cole, who works at a cryptocurrency services firm Unchained Capital.
Nathaniel Whittemore
The BCash network has split into two new blockchains again - Bitcoin Cash ABC (BCH ABC), and Bitcoin Cash Node (BCHN). BCH ABC has received no hashpower, because the community doesn't see the need for its controversial "Coinbase Rule" which requires 8% of mined bitcoin cash to be redistributed to BCH ABC as a means of financing protocol development. This means that BCHN will most likely be the dominant software of the BCH network, as even exchanges have announced their likely support for BCHN and that it will inherit the "BCH" ticker.
If BCH ABC does not attract enough hashpower to produce a viable blockchain, the ABC blockchain would in theory "disappear."
Kevin Helms
Belarusbank, the largest financial institution in Belarus, is reportedly launching a cryptocurrency exchange service. The bank will allow users to exchange and trade crypto against fiat currencies like the Belarusian Ruble, the euro, and the US dollar using a Visa payment card. The service is reportedly available to citizens in Belarus and Russia, with plans to extend the list of countries and the list of supported cryptocurrencies in the future.
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