Here’s your weekly dose of “This Week in Bitcoin 11.19.2019! Each week, the Coinme Private Client team sends a weekly email, highlighting the top industry news and stories. Included in that email is “This Week in Bitcoin”, your guide to the state of bitcoin. Here’s the top news in This Week in Bitcoin 11.19.2019.
As the broad market marched to new all-time highs this week, crypto markets continue to trade sideways with some digital assets declining. Bitcoin’s slow decline is a continuation of themes that have developed since this summer; volumes are low, no new money is coming into the ecosystem, general lack of new digital assets to excite investors, and equities are on up double digits in 2019. This gives the non-crypto world less reason to focus on this emerging asset class. Bitcoin and other digital assets fell 7% last week, but the downward price action has less to do with negative events and more to do with a lack of positive interest.
That said, we are now inside of 6 months from the “Halving”; when Bitcoin’s daily mining production will be cut in half. Literally, nearly $60 million in Bitcoin supply will be eliminated seemingly overnight. Meanwhile, the Fed continues to do what it does best (print money and lower rates), and citizens in the rest of the world continue to challenge the status quo as it pertains to money, politics, and oppression from regimes. Said another way, the positive bull case for Bitcoin remains intact!
Yes, that is This Week in Bitcoin 11.19.2019 – AND This is an exciting time to be alive – and if you haven’t yet, make sure you are at least $10, or $100 in this amazing new emerging asset class. We do our best at Coinme to make it really easy. Give us a call. Contact us. Check out our partnership with Coinstar and visit a cash to bitcoin kiosk in a grocery store near you!
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