CBX Weekly Newsletter // 5 February 2020
- Bitcoin consolidates at $9K
- US Marshals Will Auction $40M in Bitcoin This Month
- Twitter enables Bitcoin Emoji
Bitcoin consolidates at $9K
Bitcoin has increased by over 30% in 2020!
However, last Monday Bitcoin produced a Doji candle on the Daily timeframe, indicating that consolidation might come on the way, support can be found at $9K psychological handle, and $8,200 which was the latest support.
The overall trend will remain bullish as long as prices are holding above $8,200, which can take the prices towards $9,600. A loss of that support level could send Bitcoin to $7K prices again.
4-hour chart
Bitcoin rejected the price of over $9,600 which sent the prices to below $9K showing a bearish divergence of the RSI. It means that even though the price keeps going up the momentum might be slowing down.
The overall trend, however, will remain bullish as long as prices stay above $8,200.
US Marshals Will Auction $40M in Bitcoin This Month
The US Marshals will auction over 4,000 bitcoin, which is around $37.7 million at today’s price.
This will be the first such auction since the end of 2018.
“The auction will take place during a six-hour period Feb. 18. Bids will be accepted by email from pre-registered bidders only,”
Bidders will also be required to make a $200,000 deposit before being able to bid. Participants who do not win their bids will receive these back.
The bitcoin will be sold in four lots, with 2,500, 1,000, 500 and 40.54069820 bitcoin each. The first three lots are further split into blocks, each with their own set number of bitcoin.
Twitter enables Bitcoin Emoji
Twitter has activated the new bitcoin-branded hashtag!
Twitter’s founder Jack Dorsey is calling for it to become part of the universal web standard.
Dorsey announced Sunday Twitter users could now use the bitcoin symbol as an emoji, appearing automatically after “#bitcoin” or “#btc.”
The bitcoin symbol has not been Recommended For General Interchange (RGI), which means that there is no existing emoji that is widely supported across major internet platforms, including the likes of Facebook, LinkedIn as well as Twitter. Dorsey’s tweet Sunday suggests he is trying to push Unicode into turning it into an RGI emoji.
Dorsey has been a supporter of cryptocurrency, especially bitcoin. His payments platform Square has supported bitcoin trading since 2014 and patented a new fiat-crypto payment gateway last month.
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