SCI Daily: Breaking Highs
October 23, 2020
Bitcoin (BTC) has been trading at just below 13,000 for most of the day, struggling to break through that resistance level. The current daily structure is still intact, but the weekend should provide traders a clearer view of the direction that BTC is going to take: consolidation within the 12,500 - 13,200 range, or if momentum can take price well past 13k and into 14,000 - 15,300 - levels last seen in early 2018. A dip back to 12,000 - 11,700 is also a possibility if BTC cannot hold support.
Global market cap is at $394B, while BTC's market cap is at $240B.
Philippine central bank governor Benjamin Diokno has announced that the institution's study of a central bank digital currency (CBDC) suggests that a digital peso will not be issued any time in the near future. The Bangko Sentral ng Pilipinas (BSP) started looking into the possibility and feasibility of issuing its own CBDC in the summer but the study so far has suggested that much more work is needed before any implementation, including more research in capacity-building and the creating of networks between the central bank and financial institutions.
Grayscale Investments, a firm focused on crypto fund management, added $1 billion in its assets under management in a span of one week. According to the firm's update via Twitter on Oct. 22, the firm is currently managing around $7.3 billion AUM. The new update indicates a $1 billion dollar increase from $6.3 billion AUM reported on Oct. 15, followed by an update of Grayscale's CEO Barry Silbert on Oct. 22 via Twitter saying that the firm closed $300 million AUM in one day. One likely factor of the recent spike of the firm's AUM is the recent big news catalyst about Paypal entering the crypto space, which was followed by the pump in crypto prices - particularly Bitcoin (BTC).
A new plugin for the WordPress web publishing platform has been introduced. According to a Cointelegraph report, the new plugin was developed by WordProof and can be used by users to timestamp content on the Ethereum blockchain. The plugin's timestamp features include a unique fingerprint/hash for the latest version of the content added to the blockchain, which also provides proof of ownership and proof that the content hasn't been tampered.
WordPress supports around 37% of all websites and has a 60% share of the Content Management System (CMS) market.
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