CBX Newsletter // 27 Feb 2019
- Bitcoin Bull Trap?
- Rumor: Will Samsung lead the Crypto adoption?
- Microsoft releases a platform on Azure for ICOs
- Grin is Live!
Bitcoin Bull Trap?
Last week, when we analyzed Bitcoin (BTC) we pointed out a few price levels where we expected a bit of resistance, especially $4,200 and $4,500 being very important due to the fact that above those prices there is very little resistance besides psychological handles and of course the $6,000 level which was a strong support for BTC during 2018.
During the last weekend, Bitcoin and the market of cryptos managed to reach a new high for the year, Bitcoin reached $4,198 and other cryptos like Ethereum (ETH) and EOS reached new recent highs as well to $166 and $4.44 respectively. That was of course before the market started to take profits pushing the price of BTC and other cryptos over 8% down.
For now, the outlook hasn’t changed much since last week, the market is still facing $4,200 resistance and if we can’t go above that we shall be looking at $3,500 support or below for a test of the yearly lows, a break of either of those levels will determine the trend for the next trading days.
The market capitalization of cryptocurrencies is at over $130 Billion at the time of writing, according to coinmarketcap.com; BTC dominance is still at above 51%. Bitcoin is trading at $3,815 on CBX.
Rumor: Will Samsung lead the Crypto adoption?
Samsung is the largest smartphone company in the world and the first major maker to introduce a cryptocurrency wallet in its latest flagship Galaxy S10 phones. According to trusted sources, crypto company Enjin Wallet from South Korea has been appointed by Samsung to provide a cold storage wallet that will let users store Bitcoin, Ethereum, and offers support for other ERC-20 tokens. The Galaxy S10 lineup also offers support for decentralized apps (“Dapps”).
Enjin Coin saw a surge today in price of over 100% making it the 59th largest cryptocurrency by market capitalization.
This is one of the first steps being made by large companies to embrace the Blockchain technology, and with payment apps such as Google Pay already available to the masses its fair to say that payments using cryptocurrencies can be just around the block.
Will you buy the new Samsung phone to store your Bitcoin?
Microsoft releases a platform on Azure for ICOs
Microsoft has launched an Initial Coin Offering (ICO) solution built on top of Microsoft’s Azure cloud platform. This technology is currently being developed by the company Stratis, an ICO platform that also offers KYC compliant services and accepts a number of different currencies. The information was released on February 23 by The Block.
Most ICOs that were released during the 2017 Bull market didn’t have a proper business plan or working platform, in fact, most of the tokens released by these ICOs are worthless today, some of them on purpose and some of them simply because they don’t have the necessary knowledge or technology to develop what they promised on their whitepaper.
A platform that provides a solution for ICOs that can be used with multiple currencies and supports KYC verification will definitely benefit the industry especially if it’s being supported by a tech giant such as Microsoft.
Grin is Live!
We are delighted to announce the listing of GRIN on CBX.
If you register a new account and pass KYC you get 1 EOS airdropped to your account.
Grin is a cryptocurrency focused on privacy without censorship in its implementation of Mimblewimble.
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