Police make dozens of arrests and fire tear gas on protesters at Paris France on fuel tax and price increase

French police made dozens of arrests across France Saturday amid violent anti-government protests described by one of the protesters as a “civil war,” CNN affiliate BFM reported.

 

In Paris, police resorted to tear gas and water cannon to try to clear the Champs Elysée.
“The objective was to unite everybody here in Paris. I am disappointed because it wasn’t meant to be like this,” Thierry Paul Valette, one of the organizers of Saturday’s demonstration in Paris told CNN.
He blamed it on a “small section” of “the extreme left and the extreme right” and said it was like a “civil war.”
In total, 35 people were taken into custody.
The “yellow vest” protests, which began as a campaign against rising gas prices, have morphed into a wider demonstration against the government of President Emmanuel Macron in recent weeks, spreading as far as France’s Indian Ocean territory of Reunion.
Police say they have mobilized 3,000 officers in Paris to contain the 8,000 protesters. A security perimeter has been set up in the city center, with government buildings protected. Three people have been arrested so far.
At a news conference on Saturday, French Interior Minister Christophe Castaner blamed the clashes on far-right extemists infiltrating the demonstrations.
“Today, the far right has mobilized,” he told reporters. “The security forces perfectly anticipated this situation.”
Far-right political leader Marine Le Pen rejected the accusations, describing them as a “pathetic and dishonest” form of “political manipulation” by the government.
Earlier Castaner said of the protesters: “Their freedom of expression will be guaranteed, but it must not be exercised to the detriment of security, public order and the right of everybody to come and go. There is no liberty without public order.”
Last weekend a protester was accidentally run over and killed by a car, and more than 200 people were injured during a demonstration in eastern France.
Protesters clash with riot police who fired  tear gas canisters in central Paris on Saturday.

Macron under fire

In addition to concerns over spiraling fuel prices, the protests also reflect long-running tensions between the metropolitan elite and rural poor.
Diesel prices have surged 16% this year from an average 1.24 euros ($1.41) per liter to 1.48 euros ($1.69), even hitting 1.53 euros in October, according to UFIP, France’s oil industry federation.
The price hike is largely caused by a leap in the wholesale price of oil, with Brent crude oil — a benchmark for worldwide oil purchases — increasing by more than 20% in the first half of 2018 from around $60 a barrel to a peak of $86.07 in early October.
French protesters are, however, not directing their anger at OPEC for reducing oil production, or at the US administration for implementing tariffs on Iran, crippling its oil exports.
Macron is instead bearing the brunt of widespread French discontent, with many protesters furious at the current leader’s extension of environmental policies implemented under François Hollande’s government.
Notably, taxes were increased by 8 centimes last January on diesel, and by 4 centimes on petrol. Tax on diesel will also increase by another 6.4 euro cents in 2019, and by 2.9 cents for petrol. These rises follow many decades of under-taxation of diesel in France.
President Macron is instead bearing the brunt of widespread French discontent.

Further revolts

The growing resentment has also been a springboard for partisan political attacks, with opponents of Macron’s centrist En Marche party attempting to energize their bases to fuel further revolt.
One protester, Ludivine Landrin, a 32-year-old from near Paris, explained why she was protesting. “I’m here because I am a citizen. I want the struggle to come together. I want the French state to understand that we are here together. We want another state, we want another government,” she told CNN.
“In France we have a lot of taxes. The beginning of the movement was about taxes on fuel. The movement became bigger because all the taxes are making people fed up. The Macron government is making everyone fed up — on the right and on the left. We are all fed up with Macron and his government.”
Another protester, 33-year-old Emilie, declared that a revolution was happening. “We pay our taxes but it is only the rich who profit,” she said.
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Crypto Market Recovers from Fall, But Could Bitcoin Price Fall to $5,000?

After recording one of the worst sell-offs in all of 2018, the crypto market has experienced a minor corrective rally, adding $8 billion to its valuation.

The Bitcoin (BTC) price is approaching a resistance level at $5,600, a minor resistance level BTC will have to surpass to potentially eye a rally to $5,800 and potentially re-enter the $6,000 region.

Since August, BTC had defended the $6,000 support level, which has since turned into a major resistance level. Hence, if BTC initiates a corrective rally throughout the next three to four days to the $6,000 level, then it will be possible for the dominant cryptocurrency to end 2018 with a positive note.

However, if BTC struggles to breakout of the $6,000 level, then it will be difficult for the market to escape its low price range by the end of 2018.

Bitcoin Downtrend Still Possible

A further downward movement by Bitcoin is still possible from the mid-$5,000 zone. Cryptocurrency trader and technical analyst DonAlt said that BTC had a decent daily movement on November 16, but it will need to show some momentum in the high $5,000 region to confirm a positive short-term movement.

“It’s been a good day for BTC. That doesn’t change the fact that we’re approaching resistance. On the charts are the three setups that I’d be willing to trade. S/R flip or rejection on red, long green or just a straight up nuke from here.”

Crypto Rand, a respected digital asset analyst, stated that a fall to the $4,800 to $5,000 range is possible, given that technical indicators have not shown any signs of a bottom.

View image on Twitter

Crypto Rand@crypto_rand

I don’t see any bottom signal yet.

My target is in the $4,800-$5,000 range.

Prior to the sudden 11 percent drop of BTC, Willy Woo, a Bitcoin analyst and the founder of Woobull.com, said that BTC demonstrated a typical sell signal. Woo analyzed both technical and fundamental indicators of BTC including the Bitcoin network’s transaction volume, to predict a downtrend.

“This last reading of our blockchain and macro market indicators is still in play. What has changed is that NVTS has now broken its support, typically a sell signal,” said Woo, adding that all of his indicators show a bearish trend. “All our blockchain indicators remain bearish. NVT, NVTS, MVRV, BNM, NVM. They are experimental but have served to make very correct calls to date, even when traditional on-exchange indicators were reading to the contrary.”

The volume of BTC remains at $6 billion, still at a high level due to the spike in daily volume on November 14. On Wednesday, the volume of BTC temporarily spiked to $8 billion, doubling its volume within a three-day span.

Independent Price Movements

Over the last 24 hours, Ripple (XRP) and Stellar (XLM) recorded an increase in price in the range of 2 to 4 percent. Primarily because of the downtrend of BTC, major cryptocurrencies and small tokens have started to demonstrate independent price movements.

A lack of dependence on BTC can be considered as a positive change in the market, which relied on the short-term price trend of Bitcoin for at least the past four months.

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