3rd consecutive red day

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Your daily newsletter for 19 November, 2019

“Things do not change; we change.”

- Henry David Thoreau

In today's newsletter, we will be covering:

 

  • Tassat and Blockfills launching a trade-at-settlement product for Bitcoin

  • the FEMA advisory board proposing blockchain to speed ‘disaster dividend’ payouts

  • the Chinese army’s blockchain provider receiving approval for a new hyperledger certification program.

 

Also, in our 'Tutorial Tuesday' section, we have another well put together educational video by crypto educational content provider, Goodbit!

Market Summary - Bearish 🐻

 
 

Total Market Cap: ~$225.5 billion (-3.5%)                     BTC Price: ~$8,240 (-3.5%)

24-Hour Volume: ~$73.8 billion (~20.6%)                     BTC Dominance: ~66% (~0.2%)

Notable movers: -

New coins: -

 

 

Over the past 24 hours, total market capitalization dropped again for the 3rd consecutive day from ~$233.6 billion to ~$225.5 billion, with most coins seeing losses in the ~1-6% range. 

 

 

BTC is currently trading at ~$8,240, down ~3.5% over yesterday. On the daily chart, BTC is still trading below its 21-, 50- and 100-day EMA support lines, and RSI is at ~39 (has been steadily dropping over the past month), indicative of growing bearish momentum. On the weekly chart, BTC broke below its 21-EMA support line for the second time in the past 3 months. BTC continues to be trading within its lower highs and lower lows trading pattern it has been trading within since late June this year. 👀

Total Market Capitalizations

Poll of the Day

How much do you agree with this statement: "I believe in private blockchains more than I do in public blockchains."

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Why or why not? Share with me in the polls! 😆 

He say she say 📱

 

New York-based fintech provider, Tassat, is teaming up with digital asset market marker, trader and broker, Blockfills, to launch an institutional "Trade at Settlement (TAS) product for spot Bitcoin (XBT/USD)" by mid-December. 

 

 

TAS is a type of electronic order book that enables buyers and sellers to trade at, or close to, a settlement price agreed upon during a discrete fixing time frame. 🗣️It is mostly found in derivatives markets for a variety of underlying assets, and is meant to decrease uncertainty and eliminate carelessness in execution, by creating a pre-set price for participants to trade around.

 

 

The product provides a means to "offset the risk of price movements on their futures positions and/or rebalance the gamma on option positions with no risk of excessive slippage" in order to offer participants "new and efficient ways to hedge their positions" in the face of growth from digital asset derivatives.

Blockchain for disasters 🌀

 

 

According to a draft text of the National Advisory Council’s (NAC) Nov report, America’s Federal Emergency Management Agency (FEMA) could potentially use a blockchain registry to hasten disaster relief payments.

 

 

The draft text urges FEMA Administrator Peter Gaynor to start creating a blockchain pilot program for land registries, arguing that doing so could simplify and boost the speed of government payouts to communities that depend on them during natural disasters. 💨

 

 

The introduction of such a system could also catalyze "cross-sector engagement and create technology-enabled use cases that can improve the speed of disaster responses and insurance claim payments, without sacrificing accuracy or increasing the risk of fraud.”

Army-backed 🤑

 

 

 

The open-source blockchain alliance supported by the Linux Foundation, Hyperledger, has given the go-ahead to a Beijing-based company that also services the Chinese army for its new certification system. 

 

 

Hyperledger commented that only 5 companies are licensed Hyperledger Certified Service Providers (HCSP) and are able to "offer support, consulting, training and professional services, including installation, configuration and troubleshooting, to other enterprises exploring blockchain technologies." 

 

 

The firm, Beijing Peersafe Technology, joins the likes of Ant Financial, IBM, Accenture and Chainyard after the announcement, and is also one of the top 3 companies in terms of blockchain patents that offers "infrastructure for blockchain-based platforms across China, including those created for the government." 🇨🇳

 

 

Beijing Peersafe Technology has also built a Series C funding from the Shanghai Civil Military Integration Development Fund that invests in dual-use technologies used for both civilian and military purposes.

Other news 📰

 

 

  • The U.S. Securities and Exchange Commission (SEC) is re-evaluating its plan to reject Bitwise Asset Management and NYSE Arca's Bitcoin (BTC) exchange-traded fund (ETF) filing. 🤫

  • The world's biggest card payment network, Visa, has been subtly creating a blockchain system that could revolutionize the way banks transfer customer transaction information to consumer financial applications. 💳

  • A panel of senior British judges and lawyers, the UK Jurisdiction Taskforce of the Lawtech Delivery Panel, has released a legal statement that sees cryptocurrency assets as "tradable property". ⚖️

Blockchain term of the day 🤓 - Deterministic wallet

 

 

A type of wallet that derives keys from a starting point called a seed. As long as you have this seed, you are able to backup and restore any wallet. 

Tutorial Tuesday 🤓 - 'Ethereum 101'

 
 

In this week's Tutorial Tuesday, our friends over at Goodbit have created an educational video on 'Ethereum 101' Class is in session. Check it out here!

Crypto calendar  📅

 

 

TBA         - Justin Sun's lunch with Warren Buffett

What you said

 

 

"How much do you agree with this statement: "I find this current, slowly slipping, crypto market unsettling.""

 

The average vote was 5.7. 

"Why do you say so?"

 

 

Just testing your holding skills. – Hahahaha word. 🤣

 

 

To me its a consolidation phase and buying opportunity – Likewise (:

 

 

It’s getting to a better price point for buyers – Great time to DCA imo. I know I am. 

 

 

i think a lot of projects are not able to get good valuations.. but it is just a matter of time.. also i think there is a general global recession which also we should take in account. – That would be the true litmus test of BTC. 👀

 

 

NO, my guess is a lot of Financial entities are working to sell BTC to show how complicate is the future of Cryptos, don´t worry keep your mind clear & Believe strong with cryptos future. – HODL on for dear life, for its gonna be a bumpy ride. 🤪

 

 

Well for one, I've been hodling 🤑 since September 2017 since my first purchase of BTC and I've been staking ever since, ive been through crazy swings 🎢, this is nothing. I think the price only matter if i were looking to make short term gains. But I'm more about staking sats 😉 – Yeah, your strategy really takes away a lot of the investment stress. 💆

 

 

I'm in long term. My crypto investments are all "house money" – Noice!

 

 

just a BIT of a slow down – Quite significant overhead bearish pressure atm. 

 

 

The value of btc is not showing any signs of going back up in value, and hasn’t for a little while now. – yeah it’s been rough… 😔

 

 

I use to think that crypto was the future of money but now that our deer old government uses futures to fix the price of crypto just like silver gold and all other commodities we no longer have real value! Until the dollar fails or until we have an honest one to one exchange we will never really know what the value of what should of been the future of money will actually be. – Academic research has shown that vibrant and liquid deriv markets lead to price stability. I think that can do the space some good. 👍

 

 

negative downward movement for months even years and more talk of stifling regulation. – I believe this will gradually lax up. 

Thank you all for reading! Catch you back here again next tomorrow for your daily dose of crypto news! 💙

See you again tomorrow!

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