Bitcoin (BTC) closed the month of November at an all time high around 19,700. This is a strong monthly close as we head into the last month of 2020. BTC opened the month on a good note as price continues to tread along the 19,000 level and is currently trading between 19,600 - 19,700. It remains to be seen whether the previous strong monthly close could finally bring price above 20,000 as we end the year. Looking in the 4H, price structure is looking good and is currently testing resistance. Immediate levels can be seen around 19,000 as immediate support and 19,700 area as resistance. Should price continue to rally, next potential targets are around 20,000 - 20,500. However, potential invalidation is imminent if price fails to sustain 19,000 - 18,000.
Global market cap is at $584B, while BTC's market cap is at $364B.
The Venezuelan army has inaugurated the new "Digital Assets Production Center of the Bolivarian Army of Venezuela," a center that houses various ASIC mining equipment used to mine cryptocurrency. General Lenin Herrera presented the new mining operation, the goal being the "strengthening and self-sustainability of our units of the Bolivarian Army," and that these mining centers would be generating "unblockable sources of income" as an alternative to the country's failing economy.
Ethereum 2.0's genesis stakers have pushed the number of Ethereum nodes past the number of Bitcoin nodes - as 11,259 Ethereum nodes are currently active versus the 11,136 active nodes for Bitcoin. This is the second time this year that Eth's node count has surpassed BTC's, the first time coming in September. Ethereum's node count has seen a 50% increase since Nov. 15, which was shortly after the Eth2 deposit contract went live.
Ethereum has also had more transactions than Bitcoin in the past 24 hours, with the Ethereum network processing over 1.2 million transactions compared to Bitcoin's 300,000. Ethereum also processed more than $3.6 million worth of transaction fees in the same period, while Bitcoin fees were worth close to $1.4 million.
European central bankers predicted that the official launch of a digital euro is four or five years away. In panel on Nov. 30 called "Upgrading Money to the Digital Age: Introducing Digital Euro," Austėja Šostakaitė of the European Central bank (ECB) said that the ECB is wouldn't commit on making a decision to pursue a digital euro until the middle of 2021. Šostakaitė posed a question saying, "How do we introduce euro into the ecosystem and how does it collaborate with commercial bank money?" However, outside competition or foreign CBDCs coming into the Eurozone may speed up the timeline for development, Šostakaitė said.
This Daily Dose was brought to you by SCI News Channel.