Bitcoin continues to move  sideways after a few days since the infamous pump near $10,400 that  closed with a wick. In the daily chart, levels remain the same with  "resistance-turned-support" around 8,800 and resistance around $9,900 -  $10,300. Intraday 4H chart provides a closer look of the price action,  support sits around $8,800 and immediate resistance around $9,900.  Significant level to keep an eye for as of this time is around $8,800 -  $9,000. If price manages to stay above and bids hold, BTC might see a  retest or another rally. Otherwise, down we go.  

Global market cap is at $248B, while BTC's market cap is at $167B.

* Russia's internet ombudsman is planning to put up a bitcoin mining facility in the province of Karelia in Russia and it targets to mine almost 20%  of the global output. CEO Dmitry Marinichev said, "Our idea consists of  converting the factory and selling its computing power as a service,  that is to say, offering IT services." According to Cointelegraph,  bitcoin mining competition is back once again in 2019 as hash rates  continue to hit all-time highs.

Russian company plans to open giant Bitcoin mining farm— Cointelegraph (@Cointelegraph) October 29, 2019

* Paxos Trust Company  announced that it will be introducing its Paxos Settlement Service, a  blockchain-based settlement platform, for a number of United  States-listed equity securities. This was made possible after Paxos received a no-action letter from the US Securities and Exchange Commission (SEC)  indicating that the regulatory agency will not take any action against  Paxos. Two European banks, Credit Suisse and Société Générale, will be  the first to utilize to application in order to bilaterally settle  securities trades directly with each other.

* Daily XRP transactions are now accounting for more than 50% of all crypto transactions in the last 24 hours,  recording 1.6 million daily transactions, up from only 730,000 daily  transactions last week. This nears XRP's all-time-high in daily  transactions of 1.70 million recorded in December 2017. While there  isn't a clear and concrete reason for the more than 100% increase,  people speculate that it could be due Ripple's upcoming Swell event, or  their partnership with Moneygram.

This Daily Dose is brought to you buy our partner SCI News Channel.

Share this post