CBX Weekly Newsletter // 18 September 2019
- Has #AltSeason started?
- The Head of Facebook’s Calibra responds to critics over Libra ‘Threat’
- HTC’s Blockchain Phone adds Bitcoin Cash (BCH) support
Has #AltSeason started?
In previous Newsletters, we discussed ‘Alt-Coins’ which are cryptocurrencies such as Litecoin (LTC), or Ethereum (ETH); losing dominance over Bitcoin (BTC), meaning that the market sentiment was strong with BTC and losing confidence with the rest of the market.
Although we would see pumps in the market here and there, the overall trend was Bearish. However, this is not the first time something like this happens in the Blockchain industry and many investors in such currencies were expecting a Bull run for ‘Alts’ similar to the one experienced in 2017 were you would see many coins increasing X10, X100, and even X1,000 in a matter of a few days or weeks.
Most of the cryptocurrencies were correlated with Bitcoin during most of 2018 and the beginning of 2019, there were following the moves up until April 2019, that’s when Bitcoin started to increase in price and left many of the Alts behind reaching a high of over 73% dominance on the first week of September 2019, according to coinmarketcap.com.
Last week, and starting this week we started to see many names like EOS, LTC, ETH, BNB breaking up the correlation with BTC, increasing in price relative to Fiat pairings like USDT while Bitcoin was going down in price, this means that the BTC pairings are going up even more as well.
Bitcoin is still holding Weekly support on the 12-Day EMA, while most altcoins broke that support many weeks ago, and now we reach a point where Bitcoin could break and consolidate below support while ‘alts’ maintain their price, or could maintain their correlation and follow the price of BTC, this scenario is very important as we enter the last quarter of this year.
The Head of Facebook’s Calibra responds to critics over Libra ‘Threat’
The head of Facebook’s Calibra, which is the company created by Facebook to provide financial services including a digital wallet and a cryptocurrency named Libra — has Twitted out in response to claims that the project poses a threat to nations’ “monetary sovereignty.”
Many officials in the U.S. and Europe have expressed their concern over Facebook’s attempt to make a cryptocurrency, in fact, many countries such as France and Russia, have said that they will ban the cryptocurrency use in their countries.
HTC’s Blockchain Phone adds Bitcoin Cash (BCH) support
HTC announced a partnership with Bitcoin.com to add Bitcoin Cash (BCH) support for its Exodus 1 blockchain phone. This new function will come with BCH preinstalled wallet and be rolled into the Exodus 1 software update.
HTC’s chief decentralization officer Phil Chen said: “The Zion Vault is happy to support BCH natively in hardware so security goes hand-in-hand in the BCH blockchain as an alternative to dominant payment rails and platforms”.
Prior to this update, HTC only accepted only Bitcoin and Ethereum.
As of now, the phone is priced at $699.
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