Market activity turns positive as momentum continued for BTC. Yesterday, BTC broke out of its key resistance level at around 10,300. Currently, price has topped at around 11,300 making this level as its new immediate resistance and is now hovering around 10,700 - looking for potential support which could be around 10,400. If price is able to successfully defend the 10k - 11k area, we can spot the next resistance area around 12,000. This recent price surge is interesting and could be an onset of a bigger move. It is imperative to keep risk management protocols intact during parabolic moves/high market volatility situations.
Global market cap is at $316B, while BTC's market cap is at $198B.
Coinbase CEO Brian Armstrong says that the exchange won't be listing privacy coins like Monero (XMR) as they're still untested grounds for regulators in the United States. Armstrong said in an interview that he wanted to take a more conservative approach with Coinbase, including avoiding direct confrontation about privacy coins until they are more accepted. "I think with enough time and education, people will get comfortable enough with it. Privacy coins will become more mainstream over time I hope, and maybe more privacy solutions on Bitcoin too," Armstrong said.
Monero has been a contentious topic for other exchanges as well - with several, like Kraken and Binance, choosing to list it, while Bithumb and Huobi announcing that they would be delisting XMR from their own exchanges.
Tech company Huawei recently applied for a patent related to blockchain technology. According to Chinese corporate database, Tianyancha, the new blockchain patent has been filed by the company on January 17, 2019 and its application announcement date was set for July 14, 2020. The new patent will deal with blockchain ledger storage and devices. Aside from this, the smartphone manufacturer also holds several other related patents covering topics like Blockchain-based settlement methods.
The company has partnered with the government of the Nanshan District of Shenzhen to help boost the adoption of blockchain, big data, artificial intelligence, and 5G in the region through the Kunpeng industrial demonstration zone.
Garmin, a multinational tech company, is being extorted for a $10 million ransom following a ransomware attack launched by the Russian cybercriminal group Evil Corp. The ransom is to be paid in cryptocurrency, but due to sanctions against Evil Corp., if Garmin proceeds to pay for the ransom, they could be in trouble with the US government. The ransomware, called WastedLocker, has caused Garmin to operate at less than full capacity, with the attack taking down the company's customer support services, navigation solutions, and other aspects of the firm according to an unidentified Garmin employee.
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