April 22, 2:45 pm
Shane Thomson, CFA
Technical Trading Score*:
Date Of Inception:
Bitcoin is a decentralized coin enabling
revolutionary means to exchange value across the
globe. It continues to be the biggest and most
influential coin, encouraging peer-to-peer payment
networks powered by its users with no central or
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POW or POS:
Current Mining Fee (USD):
April 22, 2019
All figures in USD$, unless otherwise specified
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■ General Cryptocurrency News:
• The IMF and the World Bank launched a crypto called “Learning Coin” to
build “a strong knowledge base” around blockchain among staff at the
organizations. The coin has no monetary value and won’t be made openly
available. To support the token, the IMF and the World Bank launched a
private blockchain. The IMF said, “The development of crypto-assets and
distributed ledger technology is evolving rapidly, as is the amount of
information (both neutral and vested) surrounding it. This is forcing central
banks, regulators and financial institutions to recognize a growing knowledge
gap between the legislators, policymakers, economists and the technology”.
• France’s Minister of State for the Digital Sector has said he is open to
cooperating with cryptocurrency platforms to enable crypto donations for the
reconstruction of the Notre Dame cathedral.
• Crypto industry participants across Canada and globally are gathering in
Toronto this week for Toronto Blockchain Week.
■ BTC News:
• A recent study conducted on American retirees indicated that over 50% of
respondents were aware of bitcoin, while less than 3% claimed that they
already owned some bitcoin. Approximately 3.5% said that they would like to
invest in bitcoin, but did not know how to start, while 4.5% expressed interest
in investing in bitcoin, but decided to keep an eye on it from the sidelines for
• The Winklevoss twins and Charlie Shrem agreed to a confidential settlement
last week to end a long-running legal fight over 5,000 bitcoins, which were
the subject of dispute from a transaction that occurred in 2012.
• With the recent increase in BTC trading volume this month, there has been a
corresponding increase in transactions fees. Although fees have come down
over the weekend they have averaged over US$1.00 for April.
■ Trading History YTD:
• After declining for the first month of the year, the price of BTC has
experienced a steady upward trajectory throughout 2019.
■ Current Environment:
• Positive price momentum in BTC continued last week with the price trending
steadily higher for most of the week.
• Volumes were slightly lower week-over-week, averaging 2.5 million coins per
day. The previous week‘s volumes averaged 2.7 million coins per day.
In the image above, a Bull represents relatively favourable technical analysis indicators and a Bear represents relatively unfavourable technical analysis indicators.