CBX Weekly Newsletter // 11 December 2019
- Bitcoin Fails to maintain above $7.5K
- Ethereum has successfully completed the Istanbul hard fork
- Announcing HIP Token Pre-Sale on CBX!
Bitcoin Fails to maintain above $7.5K
Bitcoin could risk falling to lower prices after rejection above $7.5K.
If the bearish sentiment is still strong, the next support to look at will be $7,087 which was the most recent low of the month (4 Dec). A breach below that level could send Bitcoin alongside the Cryptocurrency market to lower lows possibly testing $6.5K which was the low of the previous month.
On the other hand, to invalidate the bearish scenario Bulls would need to push the price above $7,600 with decent volume and follow-through, because the last few times that bitcoin tried to move above that level the bears quickly took action. (see the picture above).
For now, the market is trading at a very tight range, with not much volume or volatility. And will continue to do so until one of the major support/resistance levels mentioned above sees significant follow-through.
Other altcoins are also following the price movements of Bitcoin.
Bitcoin dominance is still strong just under 70%.
Ethereum has successfully completed the Istanbul hard fork
Hitting at block number 9,069,000, the systemwide upgrade is the network’s third in 2019, following February’s St. Petersburg and Constantinople hard forks. The months-long process culminated at 0:25 UTC on Sunday.
Another iteration of Ethereum 1.x, Istanbul is the network’s eighth hard fork overall with the first code changes being approved in June 2019. (Eth 2, the network’s major transition to proof-of-stake (PoS), is expected in 2021.)
CBX has resumed the deposit and withdrawal services of ETH and ERC20 tokens.
Announcing HIP Token Pre-Sale on CBX!
Are you ready?
Announcing HiP Lending
We are very pleased to announce the new member of the CBX family, HiP Lending. HiP Lending is a fintech “asset banking” startup, using hard assets as the basis of finance, starting with gold. Users can borrow and lend against their assets with a mobile banking style interface.
TLDR:
Summary Status and achievements:
Live MVP https://app.hiplending.com/
Access up to $500m worth of existing collateralised Gold loan notes paying between 4% and 7% p.a
Access to 4 trading licences out of Thailand subject to $2.5m being placed on account — giving HiP full Fintech operating status within 3 months
Able to launch our Fintech phase 1 Fintech platform in Thailand within 2 months post private placement raise www.cbx.one/trade/HIP-BTC /
Public sale after Chinese NY Feb 2020
- HIP Token on CBX
- Asset Banking: Gold Then Property
- Private Round Live NOW with 50% Discount
- Open to private discussions with qualified investors
HiP’s go-to-market starts in Thailand. Asset banking in its final form includes many asset classes and some of these classes are more complex than others. Perhaps the simplest of all is gold, pure gold. Gold is highly prized in Thailand and people pay 15% per year to borrow against it.
Unlicensed lending in Thailand is what banks are calling “The 5 trillion baht (~$180B) problem”, which is why these new lending licenses were introduced. These licenses are not easy to get: they are expensive, require government connections, and there will be a limited number of them, but we have the right people on our team for the job. These licenses alone will allow us to enter other ASEAN markets, raise more capital, and charge more interest.
HiP is positioning itself to ride the neobank fintech revolution that is sweeping the investment world.
We are very happy to have HiP on board. They are forming strategic partnerships with qualified investors. If you’re interested in changing the face of banking forever, contact Kai at kai@hiplending.com
More info on: https://cbxpro.com/hip-token/
Join the offering: https://www.cbx.one/trade/HIP-BTC
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