Good morning traders!
A user on Stocktwits posted this nice infographic of Bitcoin wealth distribution, showing that approximately 4% of addresses own approximately 96% of all Bitcoin. While this has some flaws, for example, many users own multiple wallets, still a cool graph nevertheless
Cloudrunner on StockTwits
Another interesting metric by Charlie Bilello - Bitcoin market cap passes McDonalds'. Comparing a crypto market cap to a fast food chain's is not something we would do usually, but while posting cool graphs and metrics, this cannot be ignored :)
Charlie Bilello via Twitter
So what's BTCUSD doing? It's sitting at a nice 261% fib resistance since yesterday. We stalled here and already had a nice pullback overnight for those who wanted some intraday exposure to to the long side. Anyway, channel top and fib level confluencing with RSI divergence don't favor longer term investors entering here.
Nate Murray, a programmer and crypto enthusiast, has put some work in to describe a 100 cryptos in 4 words or less. Check if you find your favourite crypto on the list, some of those don't get so favourable descriptions.
Nate Murray via TechCrunch
$30 million worth of Tether stolen. Oh. But luckily, as Tether itself is the issuer of the USDT backed asset, the thieves have no chance in redeeming said tokens, as Tether announced in a post on it's website
Catch up on the story at Coindesk
FED Chair Janet Yellen wrote her resignation to the Federal reserve, effective after her successor is named in Feb 2018. Doves out, hawks in? Remind me again, who is her successor?
Via the Twitter account of the Federal Reserve
Read the letter on Federal Reserve website
https://www.federalreserve.gov/newsevents/pressreleases/other20171120a.htm
And last but not least, a USDCAD thought. Hunting longs on the breakout and close above the hourly area towards the daily resistance.
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