Analyst: Once $20k breaks, throw Bitcoin fundamentals and valuations out the windowBTC $19,447 (+1.5) • ETH $615 (+2.9%) • XRP $0.63 (+0.06%)
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Bitcoin has been flirting with $20,000 over the past few days. It has yet to test that level, though on multiple occasions has it approached the level of macro resistance. While it is actually a bit of a misnomer that the coin traded above $20,000 in 2017’s bull market, that level has become a key technical and psychological resistance. If Bitcoin passes $20,000, bulls are validated. As long as BTC stays under $20,000, bears are validated. According to one analyst, $20,000 is so important to Bitcoin that all fundamentals can be “thrown out the window” once it breaks. Ad 📈 Earn 8% APY on Bitcoin & 9 more crypto assets and 12% on Fiat & Stablecoins. Compounding interest, paid out daily. Trending … 🚜 DeFi Tokens • 🔮 Oracle Tokens • 📈 Biggest Gainers • 💵 Stablecoins More news ⏬Crypto.com awarded license to issue debit cards in AustraliaCrypto dot com announced today that it was successfully granted a license by the Australian Financial Service License (AFSL), which now allows it to extend its card network down under. Top DeFi protocol Aave rolls out v2: native Ethereum token instantly spikes 8%Leading decentralized finance protocol Aave has just rolled out its biggest update yet: v2, or version 2. StrongBlock launches “Nodes as a Service” in Ethereum 2.0 eraStrongBlock, a protocol designed to reward and reinforce the world’s expanding blockchain infrastructure, today announced the launch of its Nodes as a Service (NaaS) platform, it said in a release shared with CryptoSlate. China’s answer to Bitcoin could wreck Macau’s multi-billion dollar casinosChina has been a long time critic of Bitcoin despite its unwavering support for digital finance and payments. See what billionaires holding Bitcoin have to say about the world’s largest cryptocurrencyBitcoin’s end of the year rally has brought in more people than ever into the space, and that includes some of the richest people in the world. This DeFi app based on Ethereum just stole $12 million from its usersThe Ethereum decentralized finance (DeFi) space was just hit with a “rug pull,” with unknown developer(s) dragging in $12 million in what seems to be the biggest ostensible scam in recent weeks. Bitcoin’s rally from $12,000 has been mostly driven by “institutional hunger”: dataBitcoin has undergone a strong surge over the past two months that has brought it from the $11,000-12,000 range to new all-time highs just shy of $20,000. The YFI bull case: why some researchers are becoming more optimistic on Yearn.financeIn recent weeks, Yearn.finance, the decentralized finance (DeFi) giant valued at $854 million, made major acquisitions of other DeFi projects. How much is Square up from its Bitcoin investment?After more than a decade since its inception in late-2008, Bitcoin has seen a massive rise from being an obscure internet currency used by drug dealers and shut-ins to a formidable asset class that attracts billions of dollars in trading volume each day. Control your wealthAd: A trusted and accessible wealth management ecosystem powered by blockchain technology, SwissBorg puts your wealth back in your hands. 🗞 Got a story tip? Email tips@cryptoslate.com Crypto market dataFor more pertinent market data, please see: Connect with usDisclaimer: None of the content in this newsletter is meant to be financial advice. Please do your own due diligence before taking any action related to the content within this article.
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