April 29, 1:15 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 29, 2019
All figures in USD$, unless otherwise specified
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■ General Cryptocurrency News:
• Financial authorities from 24 different countries and 11 international
organizations, including the International Monetary Fund and the World Bank,
gathered in New York last week to discuss global standards of crypto
regulation. Their discussions will form part of a progress report on
“vulnerabilities in the global financial system” that will be delivered during the
upcoming G20 meetings in Japan.
• A Bloomberg report released last week disclosed that more than 20 of the
crypto market’s biggest traders gathered in January for talks on making
digital assets and tokens part of the global financial architecture. The report
discussed plans for a clearinghouse for crypto derivatives that would reduce
trading costs while increasing trading volumes. Reportedly known as the
Liquidity Offset Network, it could be live and regulated by the Singapore
Monetary Authority as early as July 2019.
• The Tokyo District Court has approved the Mt. Gox trustee request for an
extension of the April 26
deadline to submit a civil rehabilitation plan. The
deadline has been pushed back to October 28
■ BTC News:
• Bitcoin dominated demand for crypto-back loans provided by cryptocurrency
lender Genesis in the first quarter of 2019. Genesis reported last week that
they processed US$425 million in loans in the first quarter of 2019, of which
Bitcoin comprised 68% of its loan portfolio.
• Startup company Moon announced that their web browser extension will
allow anyone with a lightning network enabled Bitcoin wallet to spend their
BTC at any online retailer. It was not revealed how the company is converting
BTC and paying fiat to the online retailers.
■ Trading History YTD:
• After declining for the first month of the year, the price of BTC has
experienced a general upward trajectory throughout 2019.
■ Current Environment:
• But for a one-day drop mid-week last week, the price of BTC was generally
stable for the balance of the week.
• Volumes were slightly higher week-over-week, averaging 2.8 million coins
per day. The previous week‘s volumes averaged 2.5 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.