March 25, 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 25, 2019
All figures in USD$, unless otherwise specified
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■ General Cryptocurrency News:
• CoinMarketCap announced that it will launch two cryptocurrency
benchmark indices with major financial partners including Nasdaq,
Bloomberg and Thomson Reuters, among others. The indices will cover the
top 200 cryptocurrencies by market capitalization, one including bitcoin and
• Venture capitalist investor and cryptocurrency advocate Tim Draper met
with Argentina’s president, Mauricio Macri, last week to discuss how
blockchain and cryptocurrency can improve major problems in Argentina’s
economy, including the devaluation of the Argentine peso and associated
• Six global banks have signed up to issue their own stablecoins, backed by
their national fiat currencies, on IBM’s now-live blockchain-powered
payments network, “World Wire”.
• Jack Dorsey, CEO of Twitter and Square, announced he is hiring a team of
cryptocurrency engineers to work on an “open source contribution to a
bitcoin and cryptocurrency ecosystem”. Dorsey also stated that the idea of
paying employees in cryptocurrency is part of an overall aim to improve the
broader crypto ecosystem.
• The Swiss Federal Council has begun their consultation period for adopting
laws in Switzerland as it pertains to blockchain and cryptocurrency. The
consultation is expected to run through the end of June 2019.
• Also in Switzerland, the largest Swiss online retailer, Digitec Galaxus, is
now accepting payment in ten different cryptocurrencies.
■ BTC News:
• China’s Center for Information and Industry Development released it’s 11th
update to their rankings of cryptocurrency projects. Bitcoin was rated down two
spots coming in at 15th. The rankings are based on three criteria: technology,
creativity and applicability.
■ 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. Overall, positive
movements have outweighed negative with the price of BTC over 5% higher
today than where it started on January 1st.
■ Current Environment:
• The price of BTC was relatively stable last week, ending the week
approximately where it began.
• Volumes were steady 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.