Weekly Bulletin (Jan 6, 2019)

CoinSheet #237

The road uphill and the road downhill are one and the same.

— Heraclitus (535-475 BCE)


Weekly Bulletin

No yearly predictions from us.

Our general thoughts are that things will start picking up steam toward the end of the year as we get close to the next bitcoin halving.

Genesis block

On January 3, 2009 Satoshi Nakamoto launched the Bitcoin network by creating the genesis block (the first block of a blockchain).

It includes the following text: "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks."

(This mostly serves as a timestamp to prove the genesis block was created on the same day the network was released, and that there was no secret premine.)

Fast forward 10 years

BitMEX has taken an advertisement out on the front page of January 3rd, 2019 edition of The Times thanking Satoshi Nakamoto for Bitcoin.

10 years ago Bitcoin made a reference to The Times, and exactly 10 years later there is a Bitcoin reference in The Times.

Pretty cool.


DX Exchange launching next week

Security tokens are hot.

Starting tomorrow, DX Exchange will begin offering tokenized stocks on the Ethereum blockchain via smart contracts.

This will enable investors to trade companies like Apple and Facebook Inc outside of the U.S. even when the stock markets are closed.

The launch will make DX the only exchange licensed to offer tokenized stock products in the EU.

You can read more about this here.

Personally, I’m not very interested in security tokens.


Ethereum Constantinople hard fork

Just a reminder that the Ethereum Constantinople hard fork has been scheduled for sometime around January 16 (target block height of 7,080,000).

Binance and a few other exchanges have already announced their support.


Market Sentiment

Technicals


Bitcoin (Daily Overview)

The meme is real. The January pump is here.

Price broke through the 50-SMA. A daily close at this price would be a relatively strong short-term bullish signal.

Besides that, I’m also still waiting to see what happens with the Bakkt futures launch.


Bitcoin (4h Volume)

One warning here is that volume isn’t looking too strong. Even seeing some bearish divergence on the OBV.


Bitcoin (4h Support/Resistance Levels)

Resistance 1: ~4,200
Pivot point: ~3,875
Support 1: ~3,520

(I’ll post the new weekly levels for next week in the Telegram chat tomorrow)


Bitcoin (Macro Overview)

Below are the 3 most common bottom scenarios.

  • Option 1: Fractals analysis bottom (2,300 - 2,600)

  • Option 2: Fib extension bottom (1,700 - 1,900)

  • Option 3: Retest support of 2017 rally bottom (900 - 1,200)


Recommended Readings

Bitcoin Anonymity Guide 2019: How to use BTC like a straight up G

I’m always getting questions about Bitcoin and anonymity.

This is a good read that should answer most of your questions.

Check it out here.


Bitcoin By the Numbers: 2018 Recap

Jameson Lopp gives us a wonderful recap of 2018.

Check it out here.


The end

If you think something important happened last week and we missed it, let us know!

Continue the discussion in our Telegram group.

That’s all for now.

See you later space Cowboy