March 11, 12:40 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):
March 11, 2019
All figures in USD$, unless otherwise specified
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■ General Cryptocurrency News:
• Fidelity Digital Assets brought its digital asset trading and custody solutions
services live with a select group of clients last week.
• Invesco is partnering with London-based Elwood Asset management, an
investment firm specializing in digital assets, to launch a blockchain
exchange-traded fund (ETF) today on the London Stock Exchange. The
product is called the “Invesco Elwood Global Blockchain UCITS ETF”.
• Online banking and trading group Swissquote announced it is launching a
crypto custody service later this month. The custody solution, which will be
available to retail and institutional customers, offers a proprietary solution for
managing cryptocurrency private keys.
• Facebook is expanding its blockchain-related staff with its career website now
listing 20 job openings as it also contemplates a token that will be used across
the company’s media platforms including Facebook, Instagram and
• According to research from tech conglomerate Cisco, college campuses are
the second-largest crypto miners across industry verticals. The researchers
investigated crypto mining activities across a variety of industries, finding that
university campuses are ranked the second-biggest miners of digital currency
at 22 percent, with the energy and utilities sector in first at around 34 percent.
■ BTC News:
• An unconfirmed report regarding Starbucks’ partnership with digital asset
platform Bakkt revealed that the company will allegedly accept BTC as payment.
Starbucks is a founding partner in Bakkt, but initially denied rumors that it would
accept BTC for payment. Now, an unnamed source has said that the chain will
accept BTC through Bakkt’s software, but it will instantly convert the crypto into
fiat, so that Starbucks will never actually hold any cryptocurrency.
• Jack Dorsey, the CEO of both Twitter and Square, hinted in a podcast interview
last week that he has been spending $10,000 per week on BTC.
■ 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 and a
half months into the year, the price of BTC is slightly higher than where it started
on January 1st.
■ Current Environment:
• Last week was a positive week for BTC as its price was stable to higher for most
of the week.
• Volumes were higher week-over-week, averaging 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.