CBX Weekly Newsletter // 22 May 2019
- Strong Resistance at $8.3K
- Bitcoin Halving in 365 days
- PewDiePie on Blockchain Video Streaming Platform
- CBX Adds EVT/USDT trading pair！
Strong Resistance at $8.3K
Bitcoin is battling resistance at $8.3K among most exchanges after failing to break above that level twice these last couple of days. On the 4-hour chart and the Daily chart, we can see that RSI levels are still very high, which could indicate a pullback to the previous support levels.
On the Daily chart, we see $7.5K as a decent support to look at which was the most recent low and also where the short term 12-day Moving Average is at. The $7K handle will be also a good level to keep an eye on. $6.8K is where the previous support is at and also where the long term 26-day Moving Average is at the moment as well.
If Bullish momentum continues and we break $8.3K, then the next resistance will be at around $10K.
The rest of the market should follow the trend of Bitcoin while the correlation continues. BTC is priced at $7,900 today on CBX.
Bitcoin Halving in 365 days
Miners earn 12.5 Bitcoins per block mined, that’s about 1,800 BTC per day. However, in about a year from now the Bitcoin algorithm will automatically split the Block Reward in half leaving miners with 6.75 Bitcoins per block mined even though they are using the same or more processing power to mine.
Even though some miners keep a portion of their mined coins, most of them sell the coins immediately because they need to pay for electricity costs and to lock their profit. When the next halving happens in May 2020, miners will only earn 900 bitcoins per day, reducing the global supply of Bitcoin by 50%.
As decreasing supply meets constant (or increasing) demand after the halving, prices will need to find equilibrium again. And that’s the main reason Bitcoin starts to go parabolic usually some months after the halving. After the 2012 bitcoin halving, the market skyrocketed from $12 to $142. In 2016 the market went even higher from $582 to $20,000 just a month after the halving.
With the 3rd Halving just a year away we might argue that is one of the best times to invest if history repeats itself.
What is your prediction? Will BTC reach all-time highs?
PewDiePie on Blockchain Video Streaming Platform
Blockchain live streaming service DLive has almost doubled its user base since PewDiePie, one of the world’s most popular YouTubers joined the platform in April.
DLive now has more than 5 million monthly active users and over 70,000 streamers. The platform reportedly had around 3 million monthly active users and nearly 35,000 active streamers as of March.
DLive is a decentralized platform that was built using the Lino Network blockchain, which rewards both content creators and viewers using its native token, It does not charge fees to content creators and doesn’t take fees on earnings.
Lino raised $20 million last year to create a “YouTube on the blockchain” in a private token sale. The company claims they expect content creators to make between three-to-five times the profits they make on YouTube or Twitch.
CBX Adds EVT/USDT trading pair！
We are delighted to announce the listing of (EveriToken) EVT/USDT on CBX!
The details are as follows; we welcome you to trade!
EVT deposit will be available on May 22 at 14:00(UTC+8)
EVT withdrawal will be available on May 22 at 14:00(UTC+8)
EVT/USDT trading pair will be available on May 22 at 17:00(UTC+8)
EveriToken is the world’s first token-based public chain, aiming to build a system for issuing and transferring certificates by tokenizing the real-world assets, certificates and other proofs of rights in a way of issuing tokens. everiToken has been widely implemented in the many fields such as cross-border payment, credibility points, and public welfare.
Total supply：1,000,000,000 EVT
Market circulation：20,000,000 EVT
Official Website：https://www.everitoken.io
Whitepaper Link：https://www.everitoken.io/docs/everiToken_Whitepaper_v3.1_US.pdf
Blockchain browser：https://evtscan.io/
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