February 04, 12:45 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):
February 04, 2019
All figures in USD$, unless otherwise specified
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■ General Cryptocurrency News:
• According to a Bloomberg article, Fidelity subsidiary Digital Asset Services is
expecting to launch its cryptocurrency custody service this March. The article
stated that the company has begun to onboard a select set of “eligible clients”.
An offering like Fidelity’s regulated, secure and trusted cryptocurrency custody
could catalyze a wave of interest from traditional investors, adding significant
demand to the space.
• B2C2 OTC Ltd. has been granted approval from the UK’s Financial Conduct
Authority to provide cryptocurrency products that settle CFD (contract for
differences) for institutions, allowing companies to have crypto exposure
without having to take on a custodian role for their positions.
• Wikimedia Foundation, the company that operates Wikipedia, has partnered
with Bitpay for the purpose of allowing it to accept cryptocurrency donations.
■ BTC News:
• VanEck, CBOE, and SolidX Partners refiled their collaborative Bitcoin ETF
application to the U.S. Securities and Exchange Commission (SEC), which
reopened following a near-five-week government shutdown.
• It is thought that the previous week’s withdrawal of the application was the
result of uncertainty with respect to the U.S. government shutdown. From this
point, the SEC purportedly has 240 days to make a final decision on the BTC-
• Twitter Co-founder and CEO, Jack Dorsey, reiterated his support for BTC,
stating that he believes it will be the internet’s native currency. Dorsey is also
the founder and CEO of mobile payments company Square, which permits its
users to trade in BTC. When asked if there are any plans to add other
cryptocurrencies to the app, Dorsey answered that there are not.
■ Trading History YTD:
• After spiking to a near-term high at the end of the first week of January, the
price of BTC has trended negatively so far in 2019.
■ Current Environment:
• The price of BTC stabilized last week, grinding sideways for most of the week
around the US$3,500 mark.
• Volumes for the week averaged 1.6 million coins per day. This was up from
the prior week‘s average of 1.5 million coins per day.