Bitcoin took a breather and maintained its range after experiencing volatility from previous days. In the daily, price slowed down and kept its range with support around $4,400 - $3,500 and resistance around $5,900. We can look at 3 possible scenarios with this price action: 1) price maintains its range for a long duration, 2) another swing low if price breaks key support level, and 3) a swing high to retest intraday levels should price break the current range.
Global market cap is at $148B, while BTC's market cap is at $94B.
Stock market regulators in Spain, Italy, Belgium, and France have banned short selling as the markets have been in a slump due to the coronavirus outbreak.
Spain's CNMV regulator banned short selling for a month starting Tuesday. Italy's Consob will implement at 24-hour short selling ban, and will look to implement a more lasting ban if needed. Belgium's FSMA also announced a one-day prohibition of short selling and similar transactions on the Euronext Brussels regulated market. France's financial market regulator, Autorite des Marches Financiers, has banned short selling the 92 most impacted shares for 24 hours as well.
South Korea's Ministry of Science and ICT (Information and Communications Technology) and Ministry of Information and Communication Industry Promotion will launch a program called "Blockchain Technology Validation Support in 2020," which will allocate $3.2 million in funding to local startups in the blockchain industry. The plan is to select nine projects through free public offerings and grant each one up to 450 million won ($360,000) in funding. The companies selected must offer services that can create economic and social value through blockchain technology.
Scammers took advantage of the ongoing public health crisis, stealing at least $2 million in cryptocurrency from panicking consumers. AnChain.AI conducted a top-down approach in investigating the incident and found out a pattern used by scammers: posting supplies on trusted e-commerce sites like Amazon, eBay, and social media marketplaces. The scammers took payment and printed a fake shipping label as "proof" to make the consumers believe that their orders were legitimate.
Buyers were lured to thinking that their medical supplies would arrive at their doorstep, only to realize that they had been scammed. According to the investigation of AnChain.AI, the funds were laundered and liquidated to Asia-based exchanges through the use of pass-through addresses, tumblers and mixers.
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