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Daily Dose: Slow Start December

The last weekly candle closed on a bounce but didn't show any significant move. For the current weekly candle, BTC opened weak. If price isn't able to reach or retrace around $7,500, it can possibly break the 50 MA and head lower to look for next support. In the daily chart, BTC found support around $6,500 and resistance around $7,800. Possible scenarios in the daily chart: another lower high (from the recent swing high) and head down, or retrace and test $7,800 - $8,000 level.

Global market cap is at $198B, while BTC's market cap is at $131B.

Kelly Loeffler, CEO of Bakkt, has been picked by US Governor Brian Kemp to fill in the Georgia Senate seat until the special election in November 2020. She will be replacing Johnny Isakson, who will vacate his seat on December 31 due to his declining health. Bakkt is a subsidiary of ICE that provides physically-settled bitcoin future contracts. 

Vigil Griffith, Ethereum foundation developer, has been arrested at LA International Airport on Thanksgiving day, for allegedly sharing his expertise in using cryptocurrency at a conference in North Korea. According to the complaint, Griffith and other attendees discussed how blockchain and crypto could be used by the Democratic People's Republic of Korea (DPRK) to launder money, evade sanctions, and how to achieve independence from the global banking system.

The Ethereum foundation clarified to CoinDesk that it was not represented in any way in the said event outlined in the Justice Department's filing. The case is being handled by the Southern District Terrorism and International Narcotics Unit, with assistance from the Counterintelligence and Export Control Section. He will be released on bail pending his trial, according to his attorney.

 

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