May 06, 12:10 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):
May 06, 2019
All figures in USD$, unless otherwise specified
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■ General Cryptocurrency News:
According to a report by the Wall Street Journal, Facebook is seeking
investments worth US$1 billion for its rumored cryptocurrency stable coin.
According to the report, Facebook is currently talking with payment
networks Visa and MasterCard about potential support for the plan.
The central banks of Canada and Singapore completed a successful
blockchain transaction with each sending the other party a digital currency.
Fidelity Investments and Greenwich Associates surveyed 441 institutional
investors asking if cryptocurrencies were an appropriate asset to be
included in an investment portfolio. 50% of the respondents said yes and
22% said they already had some exposure.
• The Chief Financial Officer of Dell Boomi, a subsidiary of Dell, stated at an
event in Las Vegas that he believes enterprise business will have to
“integrate blockchain in the next 12-24 months” and that he doesn’t think
there will be a company in the fortune 100 that is not using blockchain
■ BTC News:
• Bitcoin transaction volumes in April were the highest for any month on a US
dollar basis since June of 2018.
• Refundo, a US tax service provider, announced that its United States-based
customers can now receive tax refunds in bitcoin. Refundo haspartnered with
Bitpay to facilitate the payment in bitcoin.
■ Trading History YTD:
• After declining for the first month of the year, the price of BTC has rebounded
and experienced a general upward trajectory throughout 2019.
■ Current Environment:
• The price of BTC continued to gain traction last week, jumping to US$5,700
mid-week last week and then remaining relatively stable for the rest of the
were slightly lower week-over-week, averaging 2.7 million coins per
day. The previous week‘s volumes averaged 2.8 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.