New year off to a good start! Is it a sign of things to  come? Bitcoin broke out of the range and price is currently sitting  above resistance of the previous range at $7,800+. Moving average  crossover has also materialized. In the daily, support levels remain at  6,800 - 6,400 while resistance now sits at 8,000. If price is able to  pick up momentum, a continuation of the breakout is possible; another  supporting idea is for the price to trail and hold above the smaller  moving average (10 EMA) intraday. Otherwise, the rally is invalidated.  

Global market cap is at $210B, while BTC is at $143B.

The Ethereum network completed its Muir Glacier hard fork,  with its purpose being to delay the so-called Ethereum ice age or  difficulty bomb for another 4,000,000 blocks. The Ethereum ice age  protocol will increase the network's mining difficulty over time until  it makes the mining of the chain practically impossible - a measure to  prevent miners from continuing the old Ethereum chain after Ethereum 2.0  deploys. With the new hard fork in place lowering mining difficulty,  average block time on the Ethereum blockchain decreased by around 24.5%  and block rewards increased by over 31%.

The Presidential Committee on the Fourth Industrial Revolution (PCFIR) of South Korea is proposing for the South Korean government to bring  crypto into mainstream finance. According to a news report by Business  Korea, the committee said that crypto-asset trading is no longer  possible to stop and the Korean government has to gradually allow  institutional investors to deal in crypto assets and promote  over-the-counter (OTC) desks dedicated to institutional investors.

The  PCFIR also proposes that the nation's fintech sector should develop  crypto custody solutions to avoid using foreign custodians. In regard to  crypto exchanges, the government is encouraged by the committee to  bring a licensing scheme and guidance.

Bitcoin, four altcoins and Tether comes to Venezuelan Burger King— Cointelegraph (@Cointelegraph) January 4, 2020

A Burger King branch in Venezuela now accepts cryptocurrency as payment. Customers can now use Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC),  Binance Coin (BNB), Dash (DASH), and Tether (USDT) to pay when buying at  a Burger King branch in Sambil area of Caracas. According to Dash  executives, the recent move is just a first of 40 locations expected to  be added this year.

The initiative is a part of the new  partnership between Cryptobuyer and Burger King Venezuela. Cryptobuyer  is a Panama-based crypto merchant gateway startup that offers conversion  of cryptocurrency funds for businesses in exchange for fiat currency.

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