March 04, 12:15 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 04, 2019
All figures in USD$, unless otherwise specified
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■ General Cryptocurrency News:
Cryptocurrency trading volumes increased in February to the highest levels
seen since the first quarter of 2018. Bitcoin 30-day volumes surpassed US$200
billion while ether 30-day volumes exceeded US$100 billion.
Nasdaq began its live listing of two crypto price indexes from United States
blockchain and crypto market data company Brave New Coin (BNC) last week.
The listings are BNC’s Bitcoin Liquid Index (BLX) and Ethereum Liquid Index
(ELX). According to the announcement, the indexes will show reference rates
for the price of 1 BTC and 1 ETH, quoted in USD and refreshed every 30
seconds. Brave New Coin has also announced future plans to add another
index for tracking the price of XRP.
The New York Times reported that Facebook is exploring the idea of creating
its own coin for payments that will be integrated with its messaging services,
according to anonymous sources.
• The U.S. Federal Reserve is considering adding cryptocurrency price
performance into its analysis of risks used to conduct supervisory stress tests,
the Fed’s board announced Thursday.
■ BTC News:
• Bitcoin’s “lightning torch”, an ongoing experiment meant to test and showcase
the next-generation payments technology now in beta, has officially made it to a
user in Iran.
• The lightning torch finds BTC users testing out the network by passing around a
small payment, each adding roughly 30 cents-worth of BTC before passing it on.
As such, the payment to Ziya Sadr on Sunday marks the latest milestone in a
six week-long effort that has seen participation from Twitter CEO Jack Dorsey
and LinkedIn co-founder Reid Hoffman, among other technology figures.
• Ebang revealed plans to expand its bitcoin mining operations in 2019, producing
400,000 mining chips this year, up from 310,000 machines in 2018 and 160,000
■ 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 full months into
the year, the price of BTC is slightly higher than where it started on January 1
■ Current Environment:
• The price of BTC was stable for most of last week before dropping over the
• Volumes for the week were comparable to the previous week, averaging 2.1
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.