Bitcoin Rally Is Just Starting

It has been revealed by Fundstrat Global Advisor head of research Thomas Lee that Bitcoin is on its way into accumulation phase in 2019 after a 16-month correction phase.

The last 24-hours has seen a recovery of about 2.7 percent recovery following an expected pull-back climbing to $5,055 and leading a nearly $8 Billion crypto market recovery.

The pull-back is did not surprise anyone following an impressive 19 percent rally of Bitcoin from $4,200 to $5,000 which many pundits believes , like Lee believe to be a crucial event to rekindle the positive momentum of the market.

Lee believes that the whales who liquidated during the 2017 and early 2018 bull ran are now buying back when they saw positive development in the space which include the entry of the operator of the largest stock exchange in the world, Intercontinental Exchange and Trillion dollar financial institution Fidelity.

In other news the renewed enthusiasm in Bitcoin is also marked by the seemingly decoupling of Altcoins prices from Bitcoin that some experts believe are signs of crypto market maturation.

Binance To Launch Staking Feature For Tezos

The official wallet of Binance, Trust Wallet has recently announced that it will be adding staking features for cryptocurrencies.

This was announced on its official blog last April 3 and detailed plans to release the staking feature by the end of the second quarter of 2019.

The feature will enable users to earn dividends or interest on their investment for validating transaction and allows them to vote on changes in the blockchain.

One of the very first cryptocurrency that will be supported on the new feature will be Tezos (XTZ), a proof-of-stake cryptocurrency.

The announcement of Binance to support XTZ follows Coinbase’s own announcement of supporting Tezos on its own staking sevices, XTZ has been one of the strongest Altcoins in the market recently mainly due many positive developments within its ecosystem.

Indicator Signaling For A 200% Price Surge For Bitcoin

According to an online news report one of the widely used indicator might be signaling a Bitcoin breakout that will see its prices surge nearly 200%.

If the prediction will hold true this would mean the official end of the cryptocurrency bear market and might be the start another bull run that might move towards its 2017 highs and even beyond.

One of the key technical resistance level that Bitcoin was able to break, which it has not broken since the beginning of the bear market is the upper Bollinger Band (BB).

This was revealed by a popular cryptocurrency analyst on Twitter, CryptoHamster who stated that a similar break above the upper BB occurred in 2015 which was proceeded by a correction towards the lower BB before it began an upwards ascent.

Another technical indicator that is predicting a break-out is the 200-day moving average which according to Fundstrat Global Advisors, a move above the 200D for BTC is meaningful statistically since it results to 80% win-ratio and with a potential to surge to 193%.

Canada Will Have Its First Stablecoin Issued By Coinsquare

Coinsquare, a Canadian cryptocurrency exchange and what many described as the Coinbase of Canada, has recently announced the launch of eCAD, the first Stablecoin backed by the Canadian dollar.

This was revealed through a press release last April 4, 2019 which states the firm believes that a non-volatile cryptoasset is key to foster mass adoption.

According to the team at Coinsquare the new cryptocurrency will offer users a whole new experience that combines the stability of the Canadian dollar and the convenience cryptocurrencies.

Every eCAD created is backed by the same number of CAD on the reserves of the cryptocurrency exchange and will be a great alternative to function as a store value or an alternative to U.S. dollar-backed stablecoins.

The Launch of eCAD is part of Coinsquare’s broader plan to transform itself into a multi-faceted, open-minded financial services company powered by blockchain technology that is focused in transparency and risk mitigation.

Central Banks Looking Into Cryptos To Replace Cash

It has been reported that despite central bank’s apprehensiveness with working with cryptocurrencies, many central banks of governments around the world have looked into blockchain technology to discover if they can leverage the technology for operational efficiencies.

According from a research report from the Bank of International Settlement (BIS) majority of central banks are collaboratively looking at the implications of central bank digital currency.

On a research report released by the central bank of England, Canada and Singapore stated that cross-border payments and settlements have not kept pace with advances in domestic payments and continue to be based on corresponding banking model which has not evolved materially over the decades.

Despite the resistance of most central bank of the proliferation of digital currencies may central banks are tinkering with blockchain with several use cases such as: Cash money supply chain, Trade finance, Know-your-customer (KYC) and anti-money laundering (AML), Payment system resiliency and contingency, information exchange and data sharing, Customer SEPA Creditor Identifier (SCI) provisioning, Retail central bank digital currency, wholesale central bank digital currency and interbak securities settlement.

According the World Economic Forum in the next four years the world can expect many central banks to use blockchain and distributed ledger technologies to improve their processes and economic welfare.

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