{"id":3229,"date":"2020-12-08T07:26:22","date_gmt":"2020-12-08T06:26:22","guid":{"rendered":"https:\/\/satt-token.com\/blog\/?p=3229"},"modified":"2022-03-15T11:49:15","modified_gmt":"2022-03-15T10:49:15","slug":"crypto-highlights-week-49-russia-to-recognize-bitcoin-as-property-with-legal-protection","status":"publish","type":"post","link":"https:\/\/satt-token.com\/blog\/archives\/3229","title":{"rendered":"Crypto Highlights Week #49 \u2013 Russia to Recognize Bitcoin as Property With Legal Protection"},"content":{"rendered":"<p><b>Crypto Highlights: <\/b><i>Russia recognizes Bitcoin as property, Bitcoin to hit $250k by Nov. 2021, Crypto crimes to surge in 2021, Sell pressure mounts at the 20k region: there is more in this week\u2019s Crypto Highlights.<\/i><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_32 counter-hierarchy counter-decimal ez-toc-grey\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Table des mati\u00e8res<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" style=\"display: none;\"><label for=\"item\" aria-label=\"Table des mati\u00e8res\"><i class=\"ez-toc-glyphicon ez-toc-icon-toggle\"><\/i><\/label><input type=\"checkbox\" id=\"item\"><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1'><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/satt-token.com\/blog\/archives\/3229\/#Top_Headlines_Of_The_Week\" title=\"Top Headlines Of The Week\">Top Headlines Of The Week<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/satt-token.com\/blog\/archives\/3229\/#Top_Stories_Of_The_Week\" title=\"Top Stories Of The Week\">Top Stories Of The Week<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/satt-token.com\/blog\/archives\/3229\/#Institutional_money_may_propel_Bitcoin_to_250K_in_one_years_time_says_macro_investor\" title=\"Institutional money may propel Bitcoin to $250K in one year&#8217;s time, says macro investor\">Institutional money may propel Bitcoin to $250K in one year&#8217;s time, says macro investor<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/satt-token.com\/blog\/archives\/3229\/#Coronavirus-Induced_Poverty_Will_Bring_More_Bitcoin_Crime_in_2021_Kaspersky_Report\" title=\"Coronavirus-Induced Poverty Will Bring More Bitcoin Crime in 2021: Kaspersky Report\">Coronavirus-Induced Poverty Will Bring More Bitcoin Crime in 2021: Kaspersky Report<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/satt-token.com\/blog\/archives\/3229\/#Top_Adoption_Of_The_Week\" title=\"Top Adoption Of The Week\">Top Adoption Of The Week<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/satt-token.com\/blog\/archives\/3229\/#Russia_to_Recognize_Bitcoin_as_Property_With_Legal_Protection\" title=\"Russia to Recognize Bitcoin as Property With Legal Protection\">Russia to Recognize Bitcoin as Property With Legal Protection<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/satt-token.com\/blog\/archives\/3229\/#UAE_Saudi_Arabian_central_banks_release_report_on_Project_Aber_CBDC_trial\" title=\"UAE, Saudi Arabian central banks release report on Project Aber CBDC trial\">UAE, Saudi Arabian central banks release report on Project Aber CBDC trial<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/satt-token.com\/blog\/archives\/3229\/#Exclusive_From_SaTT\" title=\"Exclusive From SaTT\">Exclusive From SaTT<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/satt-token.com\/blog\/archives\/3229\/#SaTT_smart_advertising_is_in_good_company_taking_the_open_source_route\" title=\"SaTT smart advertising is in good company taking the open source route\">SaTT smart advertising is in good company taking the open source route<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/satt-token.com\/blog\/archives\/3229\/#This_Weeks_Market_Sentiment\" title=\"This Week\u2019s Market Sentiment\">This Week\u2019s Market Sentiment<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/satt-token.com\/blog\/archives\/3229\/#Psychology_Sell_Pressures_Keep_Bitcoin_Below_20K\" title=\"Psychology, Sell Pressures Keep Bitcoin Below $20K\">Psychology, Sell Pressures Keep Bitcoin Below $20K<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/satt-token.com\/blog\/archives\/3229\/#Meme_Of_The_Week\" title=\"Meme Of The Week\">Meme Of The Week<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Top_Headlines_Of_The_Week\"><\/span><b>Top Headlines Of The Week<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-3192\" src=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/11\/Picture1.jpg\" alt=\"\" width=\"624\" height=\"351\" title=\"\" srcset=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/11\/Picture1.jpg 624w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/11\/Picture1-300x169.jpg 300w\" sizes=\"auto, (max-width: 624px) 100vw, 624px\" \/><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><strong>Two of the most powerful economies in the Middle East UAE and Saudi Arabian central banks released reports on the Project Aber CBDC trial.<\/strong><\/li>\n<li style=\"font-weight: 400;\"><strong>Bitcoin has relentlessly tried breaking the 20k mark severally with no success, this area is serving as the biggest psychological resistance as whales clusters large sell orders.&nbsp;<\/strong><\/li>\n<li style=\"font-weight: 400;\"><strong>Russia has taken a u-turn in recognizing Bitcoin as properties, although no information about which the crypto asset will be taxable.<\/strong><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Top_Stories_Of_The_Week\"><\/span><b>Top Stories Of The Week<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Institutional_money_may_propel_Bitcoin_to_250K_in_one_years_time_says_macro_investor\"><\/span><a href=\"https:\/\/cointelegraph.com\/news\/institutional-money-may-propel-bitcoin-to-250k-in-one-year-s-time-says-macro-investor?\" target=\"_blank\" rel=\"noopener\"><b><i>Institutional money may propel Bitcoin to $250K in one year&#8217;s time, says macro investor<\/i><\/b><\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2413\" src=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/07\/bitcoin-bull-run-1.jpg\" alt=\"\" width=\"700\" height=\"368\" title=\"\" srcset=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/07\/bitcoin-bull-run-1.jpg 1140w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/07\/bitcoin-bull-run-1-300x158.jpg 300w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/07\/bitcoin-bull-run-1-1024x539.jpg 1024w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/07\/bitcoin-bull-run-1-768x404.jpg 768w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">One interesting thing about the current crypto bull-run is that unlike the 2017 bullish trend, the current positive market sentiment is being fueled by high-profile institutional juggernauts. Everything looks solid for Bitcoin as the digital asset trades within the $19k region.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Leveraging on the current bullish momentum, <\/span><span style=\"font-weight: 400;\">founder and CEO of Global Macro Investor and Real Vision Raoul Pal <\/span><a href=\"https:\/\/www.youtube.com\/watch?v=FXSceuVz-n8\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">believes that<\/span><\/a><span style=\"font-weight: 400;\"> the largest cryptocurrency by market capitalization could reach $150,000 by November 2021. He further reiterated that due to a large amount of institutional money currently flowing into the Bitcoin market, we could even witness a $250,000 per Bitcoin.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Pal further mentioned that most of the Bitcoin circulating supply is currently being absorbed by PayPal, Grayscale, and Square, pointing out that the resulting supply squeeze is the catalyst for Bitcoin\u2019s latest surge. With the continuous printing of money to cushion the effect of the Coronavirus pandemic, the U.S dollar is already locked for further devaluation. This too will have a positive effect on Bitcoin.&nbsp;<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Coronavirus-Induced_Poverty_Will_Bring_More_Bitcoin_Crime_in_2021_Kaspersky_Report\"><\/span><a href=\"https:\/\/www.coindesk.com\/coronavirus-induced-poverty-will-bring-more-bitcoin-crime-in-2021-kaspersky-report\" target=\"_blank\" rel=\"noopener\"><b><i>Coronavirus-Induced Poverty Will Bring More Bitcoin Crime in 2021: Kaspersky Report<\/i><\/b><\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-3230\" src=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/12\/shutterstock_66510808-1200x628-1.jpg\" alt=\"\" width=\"700\" height=\"366\" title=\"\" srcset=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/12\/shutterstock_66510808-1200x628-1.jpg 1200w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/12\/shutterstock_66510808-1200x628-1-300x157.jpg 300w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/12\/shutterstock_66510808-1200x628-1-1024x536.jpg 1024w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/12\/shutterstock_66510808-1200x628-1-768x402.jpg 768w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/p>\n<p>Image source: <a href=\"https:\/\/www.shutterstock.com\/\" target=\"_blank\" rel=\"noopener\">Shuttershock<\/a><\/p>\n<p><span style=\"font-weight: 400;\">Despite the <\/span><a href=\"https:\/\/www.reuters.com\/article\/crypto-currencies-crime-int-idUSKBN27Q29W#:~:text=22%20days%20ago-,Crypto%20crime%20slows%20in%202020%2C%20but,DeFi&#039;%20hacks%20rise%20%2D%20CipherTrace%20report&amp;text=So%20far%20this%20year%2C%20losses,year%2C%20the%20CipherTrace%20report%20said.\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">fall in crypto crimes<\/span><\/a><span style=\"font-weight: 400;\"> in 2020, there are reports that a rise in crypto crimes could be witnessed in 2021 due to coronavirus-induced poverty. This was contained in a<\/span> <a href=\"https:\/\/securelist.com\/cyberthreats-to-financial-organizations-in-2021\/99591\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">report<\/span><\/a><span style=\"font-weight: 400;\"> written by <\/span><span style=\"font-weight: 400;\">Cybersecurity specialist Kaspersky on financial threats for 2021. Based on data and patterns from this year the company predicted that attacks aimed at stealing bitcoin will \u201cbecome more attractive as many nations plummet into poverty as a result of the pandemic.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The continued weakening of local currencies, the huge number of people put out of work, and the surging number of businesses that failed due to the pandemic will unarguably push a lot of people into crypto crimes. Kaspersky noted that the focus will likely be on Bitcoin as its the largest and most popular crypto assets.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The study further pointed out that privacy coins will likely be used by criminals in extorting money from their victims, \u201cthe use of \u201ctransition currencies\u201d with privacy-enhancing features, such as Monero (XMR), will see greater use as a way to hide criminals\u2019 tracks.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Top_Adoption_Of_The_Week\"><\/span><b>Top Adoption Of The Week<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Russia_to_Recognize_Bitcoin_as_Property_With_Legal_Protection\"><\/span><a href=\"https:\/\/news.bitcoin.com\/russia-recognize-bitcoin-property-legal-protection\/\" target=\"_blank\" rel=\"noopener\"><b><i>Russia to Recognize Bitcoin as Property With Legal Protection<\/i><\/b><\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-3231\" src=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/12\/1_bm_OWwv7z2dfzZkbMnFcww.png\" alt=\"\" width=\"700\" height=\"467\" title=\"\" srcset=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/12\/1_bm_OWwv7z2dfzZkbMnFcww.png 1000w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/12\/1_bm_OWwv7z2dfzZkbMnFcww-300x200.png 300w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/12\/1_bm_OWwv7z2dfzZkbMnFcww-768x512.png 768w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Just the way institutional players are lined up so are regulators who are ready to draft out a fair playing ground for cryptocurrency assets. In the most recent unfolding, the Russian prime minister has drafted a government\u2019s plans to amend existing laws to recognize cryptocurrency as property.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The implication however is that those who own bitcoin now possess the legal rights to defend and recoup their crypto assets in court. This was confirmed in a statement issued&nbsp; by the Russian Prime Minister Mikhail Mishustin:<\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">\u201cDigital financial assets will be recognized as property, and their owners will be able to count on legal protection in the event of any illegal actions, as well as defend their property rights in court.\u201d<\/span><\/i><\/p>\n<p><span style=\"font-weight: 400;\">Questions about the possibility of Bitcoin being treated as a taxable property keep sprawling up. There have been discussions in this direction among lawmakers to treat bitcoin as taxable property, however, it is important to note that this is not yet official.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"UAE_Saudi_Arabian_central_banks_release_report_on_Project_Aber_CBDC_trial\"><\/span><a href=\"https:\/\/cointelegraph.com\/news\/uae-saudi-arabian-central-banks-release-report-on-project-aber-cbdc-trial?\" target=\"_blank\" rel=\"noopener\"><b><i>UAE, Saudi Arabian central banks release report on Project Aber CBDC trial<\/i><\/b><\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-3232\" src=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/12\/saudi-arabia-uae.jpg\" alt=\"\" width=\"700\" height=\"432\" title=\"\" srcset=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/12\/saudi-arabia-uae.jpg 850w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/12\/saudi-arabia-uae-300x185.jpg 300w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/12\/saudi-arabia-uae-768x474.jpg 768w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Whether you like to call it FOMO or not, the quest for digital currency assets that copies most of the blockchain capabilities is on the rise among top Nations around the world. With China <\/span><a href=\"https:\/\/techcrunch.com\/2020\/10\/11\/china-digital-yuan-shenzhen\/?guccounter=1&amp;guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&amp;guce_referrer_sig=AQAAAALbZSzcLMBLFVE6fW0GCeUeM3mO1S8lGYIvCigg2CnsRxEy7GHMz60FTiFVVwHrt-9igM2GBFgN1fRnKWbgEEO6FQ5Geoa1M3RDUFN8NzFyUrLJDTDCsmZUAwyAcXUaPVacPA-Q18Te2QJdF53Q_ARY2gp2FDRfJyxrvJFbcpcP\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">already testing<\/span><\/a><span style=\"font-weight: 400;\"> the pilot version of their digital Yuan, <\/span><span style=\"font-weight: 400;\">Central banks from two of the most powerful economies in the Middle East have released a report detailing a joint central bank digital currency (CBDC) project.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Featuring a top spot in this week&#8217;s crypto highlights,&nbsp; &#8216;Project Aber&#8217;<\/span><span style=\"font-weight: 400;\"> is a joint effort between Saudi Arabia and the United Arab Emirates. The project aims to establish a \u201cproof of concept\u201d designed to \u201ccontribute to the body of knowledge in CBDC and DLT technologies.\u201d It was <a href=\"https:\/\/cointelegraph.com\/news\/uae-saudi-arabian-digital-currency-aber-to-be-restricted-to-select-banks-at-start\" target=\"_blank\" rel=\"noopener\">first announced<\/a> in January of 2019.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Although the report stated that a dual-issued CBDC was \u201cnot only technically viable\u201d for cross border payments, however CBDCs present \u201ca significant improvement over centralized payment systems in terms of architectural resilience.\u201d Interestingly, Aber aims to be a fully decentralized project which takes privacy and decentralization seriously.&nbsp;<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Exclusive_From_SaTT\"><\/span><b>Exclusive From SaTT<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"SaTT_smart_advertising_is_in_good_company_taking_the_open_source_route\"><\/span><a href=\"https:\/\/www.crypto-news-flash.com\/satt-smart-advertising-is-in-good-company-taking-the-open-source-route\/?utm_source=rss&amp;utm_medium=rss&amp;utm_campaign=satt-smart-advertising-is-in-good-company-taking-the-open-source-route\" target=\"_blank\" rel=\"noopener\"><b><i>SaTT smart advertising is in good company taking the open source route<\/i><\/b><\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2833\" src=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/10\/Satt.jpg\" alt=\"\" width=\"700\" height=\"329\" title=\"\" srcset=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/10\/Satt.jpg 980w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/10\/Satt-300x141.jpg 300w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/10\/Satt-768x360.jpg 768w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">It has always been clear to us that a blockchain project, decentralized by definition, cannot be constrained by a centralized environment. Our decision to go open-source will open up the SaTT ecosystem to various positive possibilities. SaTT aims to benefit from community contributions and exceed our vision and know-how, establishing ourselves as a universal reference.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Leveraging on the premise that most open-source projects like Ethereum, Hyperledger, Solidity, and MetaMask have risen to the center-stage with a lot of contributions from top coders and programmers, going open-source will enable us to scale faster, putting <\/span><span style=\"font-weight: 400;\">up a fast, secure, tamper-proof, and cost-efficient advertising solution.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">SaTT smart advertising system shows much promise, we have already issued our working solution, now on a voyage to implementing a massively large scale POC. With our six-month journey to open-source, the possibilities are endless.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"This_Weeks_Market_Sentiment\"><\/span><b>This Week\u2019s Market Sentiment<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Psychology_Sell_Pressures_Keep_Bitcoin_Below_20K\"><\/span><a href=\"https:\/\/www.coindesk.com\/bitcoin-20000-sell-order-pressure\" target=\"_blank\" rel=\"noopener\"><b><i>Psychology, Sell Pressures Keep Bitcoin Below $20K<\/i><\/b><\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2549\" src=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/09\/Bitcoin-down.jpg\" alt=\"\" width=\"700\" height=\"438\" title=\"\" srcset=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/09\/Bitcoin-down.jpg 1000w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/09\/Bitcoin-down-300x188.jpg 300w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/09\/Bitcoin-down-768x480.jpg 768w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Since setting an all-time high at a point slightly above the previous all-time high, Bitcoin has been showing signs of weakness as it continues to trade around the $19k region. With a diminishing volume and negative traders\u2019 psychology, the $20k mark is now serving as a major psychological resistance.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to analysts and traders, a lot of sell orders are clustering around the $20k region, putting a lot of sell pressure in that region. That price point is very significant considering the fact that this was the exact region the market topped in 2017 before the start of the bear market which led to the <\/span><a href=\"https:\/\/www.coindesk.com\/30-dropping-charting-ongoing-crypto-bitcoin-ether-xrp-price-correction\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">biggest Bitcoin correction<\/span><\/a><span style=\"font-weight: 400;\"> in history.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cA huge [number] of sellers are offering orders near the $20,000 level, which has no doubt created a strong resistance level,\u201d Simon Chen, executive director of investment and trading at Hong Kong-based crypto lender Babel Finance, said. \u201cPeople are trying to sell at this level based on what happened during the 2017 bull market.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The decrease in exchange outflow could also be another pointer that traders think the 20k psychological region won\u2019t be broken in the near term. Keeping those bitcoins in exchanges shows traders are willing to sell, else they would have been making a lot of withdrawals.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Meme_Of_The_Week\"><\/span><b>Meme Of The Week<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-3134\" src=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/11\/MW-FS305_hodlin_20170814145501_NS.jpg\" alt=\"\" width=\"700\" height=\"494\" title=\"\" srcset=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/11\/MW-FS305_hodlin_20170814145501_NS.jpg 600w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/11\/MW-FS305_hodlin_20170814145501_NS-300x212.jpg 300w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/p>\n<p>We hope you enjoyed this week&#8217;s edition of crypto highlights. For a peek at our last edition of crypto highlights &amp; blockchain news, click <a href=\"https:\/\/satt-token.com\/blog\/2020\/11\/30\/crypto-highlights-week-48-everything-from-last-week-you-dont-want-to-miss\/\">here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crypto Highlights: Russia recognizes Bitcoin as property, Bitcoin to hit $250k by Nov. 2021, Crypto crimes to surge in 2021, Sell pressure mounts at the 20k region: there is more in this week\u2019s Crypto Highlights. Top Headlines Of The Week [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":3227,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[47],"tags":[79,103],"class_list":["post-3229","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-stories","tag-bitcoin","tag-crypto"],"_links":{"self":[{"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/posts\/3229","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/comments?post=3229"}],"version-history":[{"count":2,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/posts\/3229\/revisions"}],"predecessor-version":[{"id":11009,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/posts\/3229\/revisions\/11009"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/media\/3227"}],"wp:attachment":[{"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/media?parent=3229"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/categories?post=3229"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/tags?post=3229"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}