1. Mainstream Currency Price as of 1:00 PM UTC from Coinbase Pro:
· BTC — 7094.56 USD
· ETH — 147.49 USD
· EOS — 2.588 USD
· XRP — 0.2324 USD
2. The Fear & Greed Index: 20 — Extreme Fear
3. Crypto Updates:
Justin Muzinich, the deputy secretary of the U.S. Treasury, has raised the specter of a not-so-distant future when private digital currencies have stripped some of the power from governments when it comes to monetary policy.
In a keynote address at The Clearing House + Bank Policy Institute Annual Conference in New York on Thursday, Muzinich gave an over view of the Treasury’s current priorities, from regulatory and tax reform to economic policy and national security.
He also devoted a good third of his talk to the digital currency space and the growing trend for financial intermediation by non-bank companies.
Cryptocurrency projects, said Treasury Secretary Steven Mnuchin’s number two, “not only have implications for private business, but also for a number of activities the government is responsible for. “
There are a number of potential threats from the rise of the technology, he said, including to national security, the monetary base, financial stability and consumer protections and privacy.
The Treasury has concerns that digital currencies “can potentially be used to evade existing legal frameworks — like those governing taxation, anti-money laundering, and countering the financing of terrorism,” Muzinich said. While the treasury has set out that U.S. laws must be obeyed, regardless of whether a transaction is made with fiat or digital currency, should an anonymous cryptocurrency grow to scale it would make it harder to enforce those laws.
The non-profit Human Rights Foundation (HRF) has analyzed the censorship and privacy landscape of stablecoins in a report published on Nov. 20.
For privacy coins that are not stablecoins, the largest single-week losses so far this year have ranged between 24% and 34%, the HRF notes; a fact that bolsters the attractiveness of stable-value crypto assets, particularly for citizens in hyperinflationary economies.
Blockchain-based stablecoins do not only provide the stability advantages of the U.S. dollar but can “democratize access to that stability,” according to the report.
The HRF further states that such assets have the potential to free citizens from the deleterious impact of state-imposed capital controls and from centralized oversight by digital payment processors and other bank and non-bank intermediaries.
Yet for all these prospective advantages, the HRF deems censorship resilience and privacy to be a crucial — and under-scrutinized — aspect of the asset class.
A company providing cloud-based crypto trading software that enables transactions to be completed automatically has unveiled support for another crypto exchange.
TradeSanta says its users can now connect to their Huobi accounts. The exchange is one of the world’s biggest in terms of trading volume — and reportedly serves 5 million clients in 130 countries, including the United States.
Other leading exchanges including Binance, HitBTC, Bittrex, Upbit and Bitfinex are also supported by TradeSanta — with the likes of BitMEX and OKEx set to be added in the not-too-distant future.
According to TradeSanta, there has been growing interest in its automation tools since the service launched back in November 2018. The software specializes in helping traders execute their strategies immediately and without the need for constant supervision.
Cryptocurrency exchanges operating illegally in China face a new threat after the central bank announced it would take new steps to uphold its trading ban.
In a statement on Nov. 21, the People’s Bank of China (PBoC) warned it was taking action against entities allegedly involved in trading cryptocurrencies such as Bitcoin (BTC).
PBoC: Exchanges “will be disposed of immediately”
The move was in response to a rise in trading activity following China’s public endorsement of blockchain technology, it said.
Pledging to keep its promise to outlaw trading, the PBoC vowed to “dispose of” any such activity it discovered under its jurisdiction.
“Once it is discovered, it will be disposed of immediately, and it will be prevented from happening early,” a translation of the statement reads.
4. Trader’s View:
It looks like the price is going to break the local support zone and move downward to the 1st bottom at 6000.00 level. If you search for buy opportunities, this movement will be good for you. There will be a possibility to buy at the support zone formed by the middle line of the price channel and 6000.000 using reversal signals. Such trades will be as good for investing for the long run as for the medium term with the profit targets at the nearest resistance levels.
There are no 100% true signals in markets, but this breakout wants to show us that sellers do the best for reaching 6000.00 support. If you are in the market with long positions, you should rely only on a fake breakout or the quick buyback. Will it be during this week or not, we will see. Anyway, a bearish market is a very good market for buyers. It provides new buy opportunities at very good prices. We just need to wait for the right signals and follow them!
Bitcoin is trading at a strong support area .
There is the weekly 50 SMA , a longtime fibonnaci and also a big bullflag pattern, still valid if BTC turns around in this area.
If the bears win this fight i see the next strong level at the weekly 200 SMA , also this would be the target of the SHS pattern.
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