Daily Crypto Brief for Tuesday, December 1, 2020, by ITB Media

This is your ITB Media #DailyCryptoBrief for Tuesday, December 1, 2020.

In Mainstream #FinancialNews

#CNBC reports: Bitcoin surges to record above $19,800, topping 2017 high -

The worth of Bitcoin broke above $19,000 final week, solely to retreat again to roughly $17,000 on Thursday and Friday, according to data from Coin Metrics. ... It bounced again above $19,800 on Monday morning, breaking the prior record high from 2017.

#Bloomberg Headline: Bitcoin Jumps to Record High as Bulls Say This Time Is Different - https://bloom.bg/3o4pThE

The world’s largest digital-asset rallied as much as 8.7% to $19,857.03 Monday, pushing this year’s surge to more than 170%, according to data compiled by Bloomberg. It traded at a few cents for several years after its late 2008 launch by an unknown software developer in the wake of the global financial crash. Shares of companies with exposure to cryptocurrencies also jumped, with Marathon Patent Group Inc. and Riot Blockchain Inc. each rising at least 22%. MicroStrategy Inc., a software company that has been buying Bitcoin, added 20%.

#AsiaTimes Reports: US should not adopt China’s crypto model: Ferguson - https://bit.ly/3fW9rNK

Ferguson thinks China’s approach is providing a model for other countries working to develop cross-border payment systems and remittance payments. But that doesn’t mean Washington should also follow Beijing’s lead, he stressed.

#WallStreetJournal Headline: Bitcoin Price Hits All-Time High Above $19,000, Topping 2017 Record -- https://on.wsj.com/37ocWZh

The digital currency rose as high as $19,834.93, according to CoinDesk, topping the previous intraday record of $19,783.21 set Dec. 18, 2017. Bitcoin has nearly tripled in 2020 and is up more than 90% since early September. It closed Monday at $19376.18, up 6.1%. The surge comes amid a wider rally across markets.

#Forbes Headline: Bitcoin Hits New All-Time High Of $19,850 Nearly Three Years After Crypto Crash - https://bit.ly/3fXtPOu

Less than three years after crypto markets notoriously crashed, the price of bitcoin has proved resurgent, eclipsing its all-time high from December 2017 on Monday as the world's first cryptocurrency soars amid global inflation concerns sparked by heightened government spending during the pandemic

In #SocialMedia headlines

Altcoin Daily (YouTube) posts a video titled: Billionaire Tim Draper Sees BIG Potential In This DeFi 'Hidden Gem' Crypto! DeFi Money Market (DMM).

The Moon (YouTube) reports: BITCOIN JUST DID SOMETHING INSANE! Bull run started.

Data Dash (YouTube) posts a video titled: Bitcoin Inches Away From $20K. Livestream.

On Crypto Zombie (YouTube): BITCOIN ALL TIME HIGH TODAY!!?! Bitcoin HIGHEST MONTH CLOSE EVER!!! EXTREME VOLATILITY!

In #CryptoPublications headlines

#Cointelegraph reports: 4 key indicators reflect extreme optimism from pro Bitcoin traders - https://bit.ly/3fQV4tW

4 key indicators reflect extreme optimism from pro Bitcoin...

Futures remium. The futures premium measures how expensive longer-term futures contracts are to the current spot at traditional markets. ...
Perpetual futures funding rate. Perpetual contracts, also known as inverse swaps, have an embedded rate usually charged every eight hours. ...
Options skew. ...
Options put-call ratio.

#Coindesk headline: Bitcoin Hits a New All-Time High: What Happens Next? - https://bit.ly/37sn0Rb

On this historic day, NLW looks at bitcoin’s punch through its previous December 2017 all time high. Specifically, he looks at:

How different people benchmark the all time high

What drove the latest price action, including the prospect of a new investment from institutional asset management giant Guggenheim

Why historian Niall Ferguson is arguing that bitcoin (BTC, +6.80%) has won the Covid-19 monetary revolution

#Cryptonews reports on its front page: BitMEX's 100x Group Finds Replacement For Arthur Hayes In Europe - https://bit.ly/3lsoFLe

Following a recent regulatory crackdown on the founders of major crypto exchange BitMEX, 100x Group, the holding group for HDR Global Trading Limited, owner of BitMEX, announced its new CEO. BitMEX's 100x Group Finds Replacement For Arthur Hayes In Europe 102 Alexander Höptner.
After BitMEX Co-founder Arthur Hayes stepped down in October due to the crackdown, Alexander Höptner, CEO of Börse Stuttgart GmbH and Euwax AG, will become the CEO in January 2021, 100x said.

This has been your ITB Media Daily Crypto Brief for Tuesday, December 1, 2020. Subscribe to #ITBiometrics for daily #cryptocurrency headlines.

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