December 17, 3:15 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):
December 17, 2018
All figures in USD$, unless otherwise specified
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■ General Cryptocurrency News:
• Calgary, Alberta, Canada has become the first city in Canada to launch its own
digital currency. The currency will be called the ‘Calgary Dollar’ and will be able
to be used through a downloaded smartphone app and will be legal tender
where accepted in the city.
• According to a new report by the Cambridge Centre for Alternative Finance, the
number of worldwide ID-verified cryptocurrency users has nearly doubled this
year, increasing from 18 to 35 million. The research further notes that “most
users are likely still speculators and long-term investors”.
• Local French news outlet, Les Echos, is reporting that the French government is
currently putting forward proposals to spend €500 million on state-level
blockchain deployments over the next three years; the efforts are largely
centered on two members of parliament that are pushing to make France a
• Dutch lawmakers have announced that Cryptocurrency service providers
operating within the country will soon be required to obtain a license from the
central bank of the Netherlands. The measures are being taken to “prevent
such cryptocurrencies being used to launder money obtained through crime or
to fund terrorism.” Qualified license holders will be required to have much
deeper know your client (KYC) procedures in place in addition to increased
reporting of unusual transactions.
• In a similar capacity, Spain’s ruling party, the Partido Popular, announced it will
introduce draft legislation on cryptocurrencies within the next week. The
announcement was done in conjunction with the opening ceremony of the ISDE
Blockchain Law and Research centre in Madrid.
■ BTC News:
• New Google search data shows that the phrase ‘What is Bitcoin?’ was the most
popular search term during 2018 in the United States and the United Kingdom.
■ Trading History YTD:
• BTC reached all-time highs at the end of 2017 and has since declined for most
■ Current Environment:
• BTC sold off early in the week to make a new short-term low of US$3,156
before rallying slightly later in the week.
• Volumes fell this past week as the average coins traded per day was 1.2 million.