This Week in Bitcoin 12.31.2019:
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 are the top news in This Week in Bitcoin 12.31.2019:
Happy new year everyone. 2019 and this decade has come to an end.
With the winter holidays in full mode, Bitcoin’s volume resembled the traffic at your local gym; light to non-existent. This resulted in a tight trading range with the leading digital asset ending the week slightly down 1%. This is a very good sign as highly watched lagging indicators are turning positive as we move into 2020 – AND this includes on-chain indicators looking bullish.
The big question: is the “halving event” priced in or not? There are arguments on both sides, but bullish signals are starting to expose themselves including the recent 50-day/100-day simple moving average (SMA) cross over on the weekly chart. The last time this occurred in Bitcoin’s price history was the spring of 2016, and what followed was a +4000% increase in price in less than two years. History doesn’t repeat itself, but it often rhymes. With most markets (S&P, DJIA, Nasdaq, etc) at all-time highs, the risk/reward for Bitcoin at these price levels going into the next decade is a solid “value” bet.
Enjoy bringing in the next decade with friends, families, or fellow crypto nerds! Whatever you do, please be safe and stay off the roads if you’re enjoying the champagne. We will leave you with this great summary of Bitcoin returns over the last decade 2010-2019. Thanks, Charlie!
Here’s the infographic for This Week in Bitcoin 12.31.2019:
Reminder, we are inside of 6 months from the“Halving”; when Bitcoin’s daily mining production will be cut in half. If you haven’t yet, make sure you own at least $10, $50 or even $100 worth of this amazing new asset class. Visit our easy and secure kiosks or speak to an advisor today. 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! For transactions greater than the kiosk limit of $2,500, call us. We’re here to help and make it easy for you.
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