Bitcoin (BTC) just broke out of the resistance level and is now trading above 19,000. This key resistance break could potentially take BTC to a new major all time high. The structure in the daily is looking good and is showing a good probability setup - price breakout above box/range and 10 EMA trail is holding well. If price successfully flips the 18,900 - 19,000 as support, the next potential stop is around the 20,000 major resistance or higher while immediate support can be spotted around 18,000 (10 EMA trail). All is well for BTC!
Global market cap is at $572B, while BTC's market cap is at $352B.
Samuel Haig
The bull market in cryptocurrencies is now getting the attention of mainstream media as Bitcoin takes the front page of Wall Street Journal's (WSJ) Nov. 23 issue. WSJ's report discussed several topics including the recent adoption of BTC among institutional investors and support from "Wall Street billionaires" such as Paul Tudor Jones and Stanley Druckenmiller, alongside other public figures. Aside from the significant investments from hedge fund managers and Grayscale, WSJ also stated the rising demand from retail investors. Square's Cash App recorded $1.6 billion in Bitcoin volumes during Q3 of 2020, huge increase from $555 million recorded for the whole of 2019, according to WSJ.
Helen Partz
SBI Group, the Japanese financial giant, announced the introduction of a cryptocurrency lending service through its crypto-related subsidiary, SBI VC Trade. The crypto lending platform will allow users to lend their crypto to SBI and earn interest at a rate of 1% with taxes included. The service, called VC Trade Lending, will initially support the major cryptocurrency Bitcoin (BTC), with SBI further planning to add Ether (ETH) and XRP support in the future.
The minimum lending amount is 0.1 BTC, while the max is capped at 5 BTC. SBI said that the service will have no account management fees or annual membership fees, and will also not charge any fees for deposits made in Japanese yen or crypto, but still charges a fee for yen withdrawals.
Samuel Haig
ETH 2.0 has been confirmed for Dec. 1, following the transfer of 524,288 Ether from 16,384 validators into the ETH2.0 deposit contract. Transfers to the deposit contract rapidly increased over the past day, with more than 200,000 ETH being sent to the contract in the past 14 hours. The deposit contract threshold was met with roughly nine hours to go until its deadline.
This Daily Dose was brought to you by SCI News Channel.
