January 14, 1:45 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):
January 14, 2019
All figures in USD$, unless otherwise specified
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■ General Cryptocurrency News:
■ BTC News:
• A new BTC ETF was filed by Bitwise Asset Management, which would involve
physically-settled futures contracts. The SEC is currently considering one BTC
ETF, filed by VanEck and SolidX in partnership with CBOE, with a final decision
expected by February 27
• Bitcoin miner, Bitmain, announced over the weekend that it will replace its co-
CEOs Wu Jihan and Zhan Ketuan, with its product engineering director Wang
Haichao. Bitmain accounts for ~75% of the world’s crypto mining chips.
Trading History YTD:
• It has been a volatile start to 2019 with last week completely erasing the first
week of the year’s gains. BTC opened the year at US$3,707 and closed last
night at US$3,553.
■ Current Environment:
• The price of BTC declined last week in sharp movements on January 9
. At the time of print BTC was trading at US$3,717.
• Volumes increased slightly to 1.4 million a day compared to 1.3 million a day for
the previous week.
• Crypto OTC desks are seeing increased buying demand in recent weeks.
Cumberland stated that its OTC buy/sell ratio increased ~60% last week towards
counterparties buying while Genesis has also reported seeing more buy orders
relative to the end of 2018.
CoinFLEX announced they will offer futures contracts for Bitcoin, Bitcoin Cash
and Ether. This is the first time that any derivatives for cryptocurrencies are
Thailand’s Minister of Finance has approved four companies to operate local
cryptocurrency exchanges. This continues the trend of Asian governments’
embracing of the cryptocurrency markets.
• Also in Asia, Japan’s Financial Services Agency (FSA) is exploring crypto ETFs
as it continues to ban derivatives based on crypto assets.
• Last week NASA proposed the “Air Traffic Management Blockchain
Infrastructure for Security, Authentication, and Privacy”, stating that it would use
an open-source permissioned blockchain to enable secure, private and
anonymous communication with air traffic services.
• According to Coin ATM Radar, just under 5 cryptocurrency ATMs are deployed