Bitcoin (BTC) took a pause after hitting the new all-time-high for the year at around 18,400. This pause may be due to some traders trimming positions as BTC is approaching near major resistance around 20k while it could be another opportunity for those who are anticipating a pullback to get in for a bounce or scaling positions. In the daily, we have immediate levels around 17,300 - 16,500 as immediate support and 18,400 as resistance. It is also worth noting that the 10 EMA trail support is intact in the daily, and a break below this trail could push price back to 16,000 - 15,000 levels.
Global market cap is at $489B, while BTC's market cap is at $323B.
Bitcoin mining revenue has hit yearly highs and has returned to pre-halving levels according to Glassnode, an analytics provider. Revenue from mining is now at the same levels it was as when block rewards were double what they are now - with block rewards and transaction fees for Nov. 18 reaching $21.2 million. The previous peak in the previous 12 months was on May 6 when it reached $20.6 million. Following the halving, revenue plummeted to just over $7 million per day. As BTC prices continue to rise, miners are selling the asset to cover their expenses while remaining in profit, as the higher BTC price goes, so does their profit.
BitPay, a Bitcoin payment processing company, has made it into the Technology Fast 500 list, a list of North America's top 500 leading-edge technology firms made by Big Four accounting firm Deloitte. BitPay sits in 341st position, with the rankings based "on submitted applications and public company database research, with winners selected based on percentage fiscal-year growth over a three-year period." BitPay boasts 290% growth, and continues to look for growth opportunities - the firm just launched BitPay Send a few days ago, which allows organizations to process crypto payments en masse.
BitPay beat out several notable tech companies, including social media powerhouse Pinterest coming in 348th, and media streaming device provider Roku sitting at 483rd.
A survey conducted by financial advisory group deVere Group has shown that the number of high net worth individuals, or HNWs interested in owning digital assets before the end of 2022 are increasing. According to the survey, 73% of respondents of the new survey are bullish towards cryptocurrencies, from last year's 68%. Participants in the survey were individuals who have a net worth of more than £1 million (approx. $1.32 million) and were selected from different regions such as US, the UK, Asia, Africa, the Middle East, Australia, and Latin America.
The results of the survey was revealed on Nov. 18, the same day that BTC's market cap hit an all-time-high of $336B as its price surged above 18,000 - new high for the year.
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