Bitcoin (BTC) seems to be struggling to get past the 19,000 resistance area as price maintains its sideways behavior. This may be attributed to the persistence of sellers near the 20,000 major resistance. Currently, price is trading around 19,100 and has established a range with immediate support at around 18,000 and resistance at around 19,800. In the 4H Chart, a potential lower high can be seen. If price fails to hold this level, we may see price retest support levels around 17,000 - 16,000. However, a sustained break above 19,500 - 19,800 could open doors to breach 20,000 key resistance.
Global market cap is at $567B, while BTC's market cap is at $353B.
The Libra Association is changing its name to the Diem Association, likely in hopes of turning the page on Libra's PR. The new name makes use of the Latin word for "day," best known in the saying "Carpe diem." The press release for the new name states - "Now transitioning to the name 'Diem,' which denotes a new day for the project, the Diem Association will continue to pursue a mission of building a safe, secure and compliant payment system that empowers people and businesses around the world."
Just last week, the association announced that it was looking to launch a dollar-pegged version of Libra in January.
BlockFi, a New York-based startup specializing in crypto-backed loans and savings accounts, has announced its partnership with Visa in an effort to launch a credit card that would reward users with Bitcoin (BTC). According to a report from Bloomberg, the new credit card will reward cardholders with 1.5% of their purchases in BTC instead of miles or cash. In addition, the card is issued by Evovle Bank & Trust and will have an annual fee of $200. The card will be available to the general public in early 2021, but interested BlockFi holders can sign up beforehand.
International news agency Reuters ran a story headlined: "Dollar plummets on U.S. stimulus hopes; Bitcoin hits all-time peak". This comes after the US Dollar Index fell sharply in the past 24 hours, extending a 10 month losing streak that has seen it at its lower point since April 2018. The headline has come to the surprise of several Bitcoiners, with ShapeShift CEO Erik Voorhees remarking "Looks like a headline from 2024, but I guess we should assume it won't be one headline, but many over the coming years."
Historically, Reuters isn't known for its positive coverage of Bitcoin, but recent signs might point to that taking a turn. Last week, the news agency published a story examining the likelihood of BTC reaching $100,000 by the end of 2021.
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