Crypto Today: Bitcoin remains vulnerable underneath $7500 barrier

Here's what you need to know on Monday

Markets: 

• BTC/USD is currently trading at $7,224 (-2.15%) in the afternoon in U.S. hours, price action is consolidating underneath the $7500 barrier. 
• ETH/USD is currently trading at $131.39 (-2.30%), upside remains capped by $140 resistance. 
• XRP/USD is currently trading at $0.1920 (-2.25%), price action is vulnerable underneath $0.2000. 
• Among the 100 most important cryptocurrencies, the best of the day are WAVES $1.07 (+8.00%), ETP $0.400975 (+5.35%) and DGD $18.02 (+4.50%) and The day's losers are DX $000.852 (-10.90%), BCD $0.594415 (-9.00%) and CENNZ $0.93890 (-7.00%).

Chart of the day:

BTC/USD daily chart

Market:

• Justin Sun, the founder of Tron (TRX) cryptocurrency and the CEO of the BitTorrent platform has announced a new acquisition for the platform. Sun detailed that he has a special announcement on January 1, 2020, for the BitTorrent family. 
• Blockchain-based payments company Ripple Inc. are reportedly exploring more partnerships with Brazilian banks in 2020. Luiz Antonio Sacco, managing director of South America at Ripple said: “With successive advances in Brazilian banking regulation to facilitate financial transactions, including international, opportunities here will grow greatly in the coming years.”

Regulation:

• Dubbed Penghua Shenzhen Stocks Blockchain ETF, the application was filed by Shenzhen-based asset management firm Penghua Fund and was accepted by the CSRC according to the regulator's disclosure.
• The Secretary for Preventing Money and Property Laundering (SEPRELAD), announced a nationwide survey for all of the virtual asset service providers (VASPs) in Paraguay. If a business or entity dealt in cryptotrade, the government requested they open their books.

Industry: 

• The government of Thailand will collaborate with ShareRing, an Australian blockchain company, to upgrade its E-Visa On Arrival process. With this new project, tourists from nations such as India and China will now be able to complete the process using the ShareRing app.
• In an analysis post on the IMFBlog earlier in December, the IMF discussed its potential role within the emerging CBDC discussion as well as the pros and cons of sovereign digital currencies. 
• China is reportedly leaning on Bitcoin miners to cut down electricity consumption. This news comes amid the dry season in Southwest China which usually lasts until April.

Quote of the day:

* Bitcoin dominance will be 75%+ at end of year

* Taproot will be activated without much controversy

* Bitcoin price will have a bottom to top difference of at least 100%

* Halving will be the big narrative

Jimmy Song

 

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