February 25, 12:01 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):
February 25, 2019
All figures in USD$, unless otherwise specified
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■ General Cryptocurrency News:
Nasdaq has started to track BTC and ETH indices for customers with access to
Nasdaq’s Global Index Data Service.
After leaks and speculation, Samsung officially announced that its Galaxy S10
smartphone will include a dedicated secure storage function for crypto private
keys, “Samsung Knox”. The S10 will store a user’s private keys “for
blockchain-enabled mobile services”, according to Samsung.
Less then a week after J.P. Morgan announced their play into the stable coin
market, Japanese bank Mizuho Financial Group announced they will launch
their own stable coin pegged to the Yen. Their coin will be used to facilitate
payment and remittance services.
Crypto-related companies are accessing the public markets in non-traditional
ways, via the takeover of existing publicly traded companies. Several crypto
exchanges have pursued reverse mergers to offer their shares to the public.
Earlier this month, U.S. crypto broker-dealer Voyager Digital achieved a listing
on Toronto’s Venture Exchange after purchasing control of mineral exploration
firm UC Resources.
■ BTC News:
• Bitmain announced a new ASIC mining chip that they say will increase BTC
and BCH mining profitability by being more energy efficient.
• Reddit Co-Founder Alexis Ohanian stated that he thinks the recent suppression
of the price of BTC is bullish for the industry. Alexis believes it has driven out
the speculators, leaving behind a concentration of “die hard enthusiasts“ who
are motivated to improve the infrastructure needed to take BTC into the future.
■ Trading History YTD:
• So far 2019 has seen sharp price movements, both up and down, broken up by
periods of stability as the price of BTC tries to find direction. Almost two full
months into the year, the price of BTC is slightly higher than where it started on
■ Current Environment:
• Last week was a wild ride in the cryptocurrency markets. The price of BTC
spiked on Monday and again on Saturday, only to fall sharply on Sunday.
However, with more upward momentum than downward, the price of BTC
remains up on the year.
• Volumes for the week were higher compared to the previous week, averaging
2.3 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.