BTC remained sideways after failing to break the 12k resistance yesterday. In the daily, price is currently around 11,700+ and is still holding above the 10 EMA support. Meanwhile, in the 4H, BTC experienced a sudden drop up to 11,400 and bounced off the 50 MA (immediate support). The current intraday structure isn't showing any interesting moves as price continue to move sideways after it found strong intraday support at the 50 MA area. A break of the 11,500 - 11,400 immediate support could push price to test levels below 11,000. Otherwise, price may remain sideways for a bit if 50 MA holds in the 4H. Lastly, key levels in the daily timeframe is intact with 12,000 as psychological resistance and 10,900 as key support.
Global market cap is at $360B, while BTC's market cap is at $217B.
Mitsubishi Corporation RtM Japan Ltd, metals and minerals resource trading subsidiary of Mitsubishi Corporation, has launched its blockchain platform for precious metal trading named "ECO". According to the official announcement, the new blockchain platform is intended to facilitate metal trades between counterparties by generating, managing, and executing invoices and trade confirmations. Trading parties will be able to sign trade documents and upload them on the blockchain. To add to this, the documents will be shared to others in real-time and trading parties can hide commercially sensitive information.
The ECO platform was developed by Mitsubishi in partnership with blockchain company Skuchain. Furthermore, the company is planning to add features to ECO in the future to help in solving crucial supply chain challenges in the metal trading industry.
Kathryn Nguyen, an Australian citizen, is facing a maximum of 2 years and 3 months in prison after stealing more than 100,000 XRP tokens in January 2018 - then worth around $300,000. Nguyen was initially charged in October 2018 and pled guilty to fraud charges the following August, and was one of the first people to be charged with the theft of crypto assets in Australia. In January 2018, she reportedly hacked into the email of a 56-year-old man with the same last name as her and stole all his XRP holdings. At the time, XRP was near its all time high of $3.84. Nguyen then transferred the tokens to a Chinese crypto exchange where she swapped the tokens for Bitcoin and sent them to multiple wallets. Authorities in China were only able to recover roughly $9,000.
The judge presiding over the case, Chris Craigie, said that it was a 'difficult and troubling decision' to send her to prison. Nguyen will be eligible for parole in October 2021.
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