March 18, 12:05 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 18, 2019
All figures in USD$, unless otherwise specified
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■ General Cryptocurrency News:
Canadian regulatory bodies, Canadian Securities Administrators (CSA) and
Investment Industry Regulatory Organization of Canada (IIROC), published a
joint consultation paper last week outlining the regulators‘ considerations
surrounding regulation of cryptocurrencies and seeking responses from the
crypto industry to shape future regulation of the sector in Canada.
The police in Calgary, Alberta, Canada announced they are searching for four
suspects that attacked cryptocurrency ATMs over 112 times with double-spend
attacks taking advantage of the ATMs zero-confirmations usage.
Stablecoin Tether (USDT), which has always claimed to be backed 1:1 to the
U.S. dollar, revealed through an update to its website that it may be backed by
other assets as well. Specifically, the website now reads that each tether is
backed by reserves which “from time to time, may include other assets and
receivables from loans made by Tether to third parties, which may include
• James Pratt Auctions announced that on April 8th, 2019
it will hold the first live
property auction using cryptocurrencies.
• The Stock Exchange of Thailand announced that it has plans to have a
functioning digital asset platform in place in 2020.
■ BTC News:
• The Chicago Board Options Exchange (CBOE) will not add a new BTC futures
contract in March, the firm said last week in a statement. According to the
CBOE, the entity is re-evaluating its approach to how it handles trading digital
assets, noting that it does not intend to currently list additional BTC future
contracts for trading. The contracts that are currently listed will expire in June
2019 and CBOE noted that those futures are still available for trading.
■ 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. Two and a half
months into the year, the price of BTC is slightly higher than where it started on
■ Current Environment:
• The price of BTC has been increasingly stable to positive recently. Following a
volatile last week of February, March price movement has drifted slightly higher
over the course of the month so far.
• Volumes were similar week-over-week,
averaging 2.4 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.