CBX Weekly Newsletter // 23 October 2019
- Bitcoin Bulls Support $8K (Only 3 Million BTC Left to Mine)
- Libra Could Issue Fiat-backed Stable Coins
- CBX is now listed on CMC!
Bitcoin Bulls Support $8K (Only 3 Million BTC Left to Mine)
Bitcoin bulls have defended support keeping the price above $8K every time it drops.
Although this decreases the chances of another sell-off it doesn’t invalidate the possibility of dropping to lower lows. Volatility and volume have dropped significantly compared to the previous weeks.
Other altcoins like LTC and ETH are also defending support, for now, a big move that gives direction to BTC and the rest of the market is expected to happen soon, so plan your trades for both a bullish and bearish scenario.
Fundamentals: Over 18 million Bitcoins have been mined until today, only 3 million left to mine and expecting the mining reward supply to decrease after the May 2020 halving. In previous years this model has initiated parabolic bull runs on Bitcoin and other coins, it will be interesting to see if the pattern continues to work.
Market Cap: $220 Billion
BTC Dominance: 66%
Data from coinmarketcap.com
Libra Could Issue Fiat-backed Stable Coins
Facebook’s Libra project may consider a fundamental change to the way its planned global payments system will operate.
According to its chief David Marcus, the firm is thinking of dropping the currently planned stablecoin pegged to a basket of fiat currencies and government bonds, to release a number of individual coins pegged to national fiat currencies such as the dollar, pound, and euro.
This news comes after many countries have already decided to ban the project because it could disrupt the monetary sovereignty of countries. A number of lawmakers in various countries have demanded that the project doesn’t launch until these issues are addressed.
Although Libra is having some regulatory problems and also firms such as Visa and Mastercard that agreed to partner with Facebook have left the project. Libra is still sticking to its launch timeline of mid-2020.
CBX is now listed on CMC!
CBX team is pleased to announce that CBX exchange is now featured on CoinMarketCap (CMC) ranking in the top 30 (by adjusted volume) on the first day of getting listed.
It is another milestone achieved by the CBX team. CBX has dedicated to providing users with the fastest, most secure and robust digital currency trading and custodian services. Currently, there are 26 active markets and new ones are added regularly.
CBX’s goal is not just to become a “marketplace” for all coins and tokens but to list the safest and most promising projects vetted by our team of experts to enable CBX’s clients to earn higher returns on their crypto investments. CBX will keep working hard to provide our users with the best trading experiences by further improving the design and availabilities of trading pairs.
Click here to see the listing: https://coinmarketcap.com/exchanges/cbx/
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