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Weekly Crypto Brief – New Year Edition!

The Final Weekly Brief of the Decade

And so it is that we have time to squeeze in one more weekly Crypto brief before we watch the fireworks on TV and contemplate the two big issues, namely what does 2020 hold and is it a bit weak to contemplate reneging on a a “dry January” already.  As always, with plenty of interesting events and pieces of information to look forward to in 2020, we can be sure to see further evolution and adoption within the space.  Some key things as we see it would be:

Speculation has been rife on the Bitcoin halving which is due in May.  Previous halving events have been followed by dramatic bull runs on the largest Cryptocurrency- will history be repeated?

What next for Libra?  Their journey to date hasn’t been a smooth one but we don’t expect them to be off the radar next year.

Can we expect to see further development from the ECB on their own stable coin after Christine Lagarde’s recent comments?

Where will China go with their stance on Crypto? All sorts of stories over the last year on mainly bearish information juxtaposed against rhetoric on embracing the technology.  Instinct tells us that much like the 5G race which China won, there is some intent to “beat” the Americans at this as well particularly given the USA’s stance and understanding of Crypto to date.

All of this alongside the usual stuff, such as Boris and his blinkered Brexit plan, which could turn out to be like the metaphorical clown walking through a minefield and Trump going for his second term in office which would guarantee us four more years of reading and watching aghast at quite how we got to this point!

Happy New Year!!

 

 

The Past Week In Crypto

Coinbase Making A Mark

Some new crypto users may find all the business about crypto wallets a little too confusing, which is why Coinbase could be about to change the way we transfer crypto between one another. The chief executive of Coinbase has just won a U.S. patent for an invention that allows Bitcoins to be sent via email which would be a huge advancement and massive step forward for crypto to achieve wider adoption. The patent was reported to be filed back in March 2015 and now it has been granted it seems that the possibility could soon be a reality. The system will allow users to send Bitcoin over email addresses which are linked to a cryptocurrency wallet.

Google’s War On Cryptos

In recent history, Google’s relationship with Bitcoin and cryptocurrency hasn’t always been on best of terms (we have reported previously on the search giant banning cryptocurrency ads over the internet before allowing them back on after a few months of being removed.) It has just been reported over the past week that Google has now decided to remove hundreds of Bitcoin and Cryptocurrency videos from YouTube, leaving many influential crypto speakers on the platform unfairly targeted and limited in what they can and cannot post. Whether or not this is a pure coincidence or just an accident, a number of Youtubers are not impressed with the decision and have contacted the platform for an explanation.

Chinese Regulators Show Concern

China’s securities regulators have urged Beijing authorities to carry out relevant actions aimed at preventing the usage of cryptocurrencies by the public. Last week the announcement was made which pointed out the risks of the recovery of digital currencies, such as increased trading activities, loans and violations against the PBoC provisions. Regulators have felt it necessary to issue a warning and call local authorities to combat illegal crypto related activities within Beijing. China has previously shown support for block chain technology but has warned not to “speculate”.

 

 

Past Week Quotes
Hester Peirce – Commissioner of the SEC (and Crypto Mum)

“The biggest thing the crypto community needs is a way to get from a securities offering to a utility token offering that is not covered by securities laws, or is not covered by the full panoply of the securities laws. You can’t get a token network up and running if you’re shackled by the securities laws.”

David Schwartz – Ripple’s chief technology officer

“Nobody buys XRP to give Ripple money to do things.”
Peter Schiff – American stock broker

““Bitcoin is not disappointing those who claim its true value is that it’s a non-correlated asset. Every asset class in the world is rallying into the end of the year except Bitcoin. Not sure what value this actually adds, but at least Bitcoin is meeting expectations on something!”

BTC Price: $7,301

Last 7 Days:  -0.61%  1month: -5.06%  12months: +94.26%
BTC Technicals:

Resistance Levels:  $7,320 / $7,400

Support Levels: $7,050 / $6,922

BTC Volume:

23rd December: $27,831,788,041  (BTC Price of $7,355)

30th December: $23,301,062,492  (BTC Price of $7,364)

16% decrease in trading volume in the last 7 days

 

 

Market Cap. Dominance:

BTC:  52.8%
ETH:  7.4%
XRP:  4.3%

Other ALT-Coins: 35.5%

 

This newsletter is not intended and should not be construed as an offer, solicitation or recommendation to buy or sell any specific investments  or participate in any investment (or other) strategy.