“Good luck is when opportunity meets preparation, while bad luck is when lack of preparation meets reality.”
- Eliyahu Goldratt
Day 2 of the week! Keep the grind going, fam. We've all got this! 💪
Today in history (1931), the U.S. state of Nevada legalized gambling when the Assembly Bill 98 was signed into law. 🎲 Las Vegas would not be what it is today if not for this! 🤑
In today's newsletter, we will be covering the new Fundamental Crypto Asset Score (FCAS) metric on our site, 6 international banks signing letters of intent with IBM andcrypto exchange Bithumb planning to cut up to 50% of its staff.Also, in our 'Tutorial Tuesday' section, we have another well put together educational video by crypto educational content provider, Goodbit! So don't forget to check that out below too!
Please don't forget to answer the polls down below too! It's a great way for us to interact with you all and hear what you have to say. 💭 Happy reading! 📚
Ongoing battle ⚔️
Over the last 24 hours, total market capitalization stayed within a tight range of ~$138.7 billion and ~$140.3 billion. Most coins are either seeing gains or losses in the ~1-2% range. Daily volume registered a ~$29.1 billion, just about at the average of the last couple of weeks. 👌
It was a low volatility day for BTC. BTC is currently trading at ~$4,030, no change from yesterday. RSI levels on the daily chart is at ~60, also no change from yesterday. BTC continues to be challenging the 100-day EMA line on the daily chart, and the 50-day EMA line on the weekly chart. ⚔️
An arsenal add 🔨
Thanks to our friends over at blockchain analytics startup Flipside Crypto, our site now as a new Fundamental Crypto Asset Score (FCAS) metric! 😀
The FCAS metric evaluates factors such as user activity, developer behavior and asset maturity. 🧐
As said by our very own head of global marketing, Carylyne Chan, users will now be equipped with more tools to approach crypto "more holistically as opposed to only looking at the front page with the price.” 😊
Inked the deal ✍️
6 international banks have signed letters of intent with IBM, to issue stablecoins on the IBM payment network "World Wire", powered by the Stellar (XLM) public blockchain. 🤝
At the moment, 3 of the 6 banks have been identified, such as RCBC (Philippines), Banco Bradesco (Brazil), and Bank Busan (South Korea).
World Wire will supposedly let regulated institutions move funds across borders more efficiently and cheaper than through traditional banking processes. It has payment locations in 72 countries, and supports 48 currencies. 😲
It's a ruthless game 😔
South Korean crypto exchange Bithumb plans to cut up to 50% of its staff and reduce its employee count to about 150. 👋
According to Bithumb official, many of the employees will be leaving on their own volition as “voluntary retirement is part of our [its] support program for former employees and is intended to provide assistance and training for job placement”. Additionally, Bithumb's "trading volume has decreased compared to the previous year, [so] we are trying to provide internal measures." 😔
In this week's Tutorial Tuesday, our friends over at Goodbit has created an educational video on 'Bitcoin 101'! Class is in session. Check it out here!
Other news 📰
Citigroup has scrapped its plan to issue the bank-backed crypto, "Citicoin". 🛑
Banking startup 2gether is launching a prepaid Visa debit card that will allow eurozone-based users to spend 7 cryptocurrencies, namely Bitcoin (BTC), Ether (ETH), XRP (XRP), Bitcoin Cash (BCH), EOS (EOS), Stellar (XLM) and Litecoin (LTC). 💳
Crypto mining equipment manufacturer Bitmain has launched a new miner, the Antminer Z11, designed to mine cryptocurrencies that are based on the Equihash algorithm. It claims to have 3 times the hashing power than its predecessor. ⚡
Crypto calendar 📅
31 Mar - U.S. SEC's initial decision on the NYSE Arca and Bitwise Asset Management's Bitcoin ETF application
5 Apr - U.S. SEC's initial decision on the VanEck, SolidX and the Cboe BZX Exchange Bitcoin ETF application
How much do you agree with this statement: "I believe that Bitcoin (BTC) has bottomed"
The average vote was a 5.9. Interesting. The last time I asked this question, the average vote was at about '4'. The sentiment is changing! 👀
"Why do you say so?"
Decetralisation IS The future - Power back to the people!! 💪 It has sat at the low for a few weeks now. - True. However, there is still overall bearish momentum, and no significant fundamental change. 😔 Broad base of adoption and hodlers appear to support current price - Bearish momentum has definitely slowed as of late, but we are far from out of dangerous waters. 🌊 Too early to make that call. - I agree. Simply wanted to learn about my subscribers' sentiment! 😀 i totally agree. in my opinion fair value of Bitcoin presently should be around 5000 USD. i do buy with fiat when ever i have spare fait money. - That is a good strategy IMO. As long as you believe in the long term potential of BTC, consistently buying now would be a good strategy. 👍 More catalysts on the near horizon, transaction volumes continue to grow, and fiat system is overdue to explode. society knows something is coming. - It's going to be an interesting next few years! 👀 I think there is a good chance we will see a new low. - This is very well possible. From a technical analysis standpoint, BTC still has yet to trigger the necessary bullish indicators to confirm that we have seen the bottom. I want to believe it has but it may have another dip in it. Media hype is gone and even though Lightning and increased usage are huge positives, the word isn't out. - Hopefully it would be the final pushing out of the bears. 🤗 The future is uncertain!!! - Most definitely, but sometimes its always fun to indulge in a little speculation (: Its went down to 3400 november level and is going up to break 4000 its moving averages have beaten 20 day, its bottomed out...support 3900 -3800 clearly and up support 4100 plus there. - BTC still has yet to clear the important resistance lines like the 100-day EMA line on the daily chart, and the 50 and 100-day EMA lines on the weekly chart. 😔 To the MOON BOYZ ! - Pack yo bags! 🎒 Traders intuition - Ooo 🔮 Volume is still not heavy - A good sign is that it has been picking up! 👍 Just a gut feeling - A feelin in ma belly 😉 Weak Hands are out, finally - Hopefully! 🙏🏻 Already very long stable on this low level. - It could very well continue to persist. fibonacci retranchement 80% - Hopefully it'll go back into the 78.6 zone in the future. exchanges pulling futures - CME is still in the game though. Bitcoin to the moon! - 🚀 Newbie, not sure but wanted to take part so thought I'd go for the middle. - Thank you for tuning in! In due time you will be brought up to speed on the whats what in the crypto verse! 👍 I am 50:50 on this. Bitcoin is so unpredictable. It might rise steadily for nex year or it can fall tomorrow to 2500 levels. Not saying if wish so a little bit so I can buy low 🙂 - Always feels good to get things at a discount! 😀
Thank you all for reading! Catch you back here again tomorrow for your daily dose of crypto news! 💙
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