April 08, 1:00 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 08, 2019
All figures in USD$, unless otherwise specified
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■ General Cryptocurrency News:
• Prices and volumes of all major cryptocurrencies soared last week with
prices up 40% across major currencies and the global crypto market
capitalization approaching a 5-month high of over US$185 billion.
• Staff at the U.S. Securities and Exchange Commission (SEC) published a
framework that will help market participants determine if a digital asset is
deemed to be an investment contract, and therefore a security. The
framework is not a rule, regulation, or statement of the SEC, but is the work
of two of the SEC’s commissioners: Bill Hinman, director of the SEC’s
Division of Corporation Finance and Valerie Szczepanik, Senior Advisor for
Digital Assets and Innovation.
• The SEC issued a “no-action letter” to TurnKey Jet, Inc. allowing them to
raise money from the sale of their token without it being considered a
■ BTC News:
• Leading United States derivative market, the CME Group, reported that its
Bitcoin futures trading volume hit an all-time high of over 22,500 contracts
on April 4th, equivalent to ~113,000 BTC and exceeding the previous record
hit February 19th, 2019 of 18,300 contracts equivalent to 64,300 BTC.
• Meanwhile, Google search requests for “Bitcoin” tripled during the recent
■ Trading History YTD:
• After declining for the first month of 2019, the price of BTC has experienced
a steady upward trajectory, now trading almost 40% higher than where it
began the year.
■ Current Environment:
• Positive price momentum continued in BTC last week, with a sharp spike
last Monday and Tuesday followed by a steady upward trajectory for the
balance of the week.
• Volumes were higher week-over-week, averaging 3.6 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.