BTC sentiment is a key market driver. Following Xi Jingping’s positive comments on blockchain a narrative that the news will drive price growth has emerged. A look at search trends between Bitcoin, gold, and China provides additional insight.

MakerDAO is set to introduce the multi-collateral Dai update in 10 days. The new version will allow for Basic Attention Token to be used as collateral in addition to Ethereum ahead of other tokens. The upgrade will also introduce interest on locked-up stablecoin.

After an uneventful week, Bitcoin has once again fallen below the psychological $9,000 mark posting a 4.5% decrease on the day. Altcoins managed to resist so far and generally show better performance than BTC. However, coins that previously enjoyed a growth period, such as XRP, XLM and Tezos, fell by at least 5%.

• Cosmos now has a bullish short-term and medium-term trading bias
• The four-hour time frame shows that large inverted head and shoulders pattern is forming
• The daily time frame highlights that a major technical breakout has occurred

Cosmos continues its recent rise, with the ever-popular cryptocurrency now trading at its highest level since late-July this year. The ATOM / USD pair has been on a multi-day breakout and posting strong gains for eight of the last nine trading days.

Bitcoin will have its first mining difficulty decrease in over three months. The decrease reflects a lower network-wide hashrate which corresponds to lower mining revenues.

Within the next few hours Bitcoin will experience its first mining difficulty decrease in over 100 days.

VeChain has announced it will team up with ASI Group together with existing partner DNV GL on an initiative to enable food tracking on the blockchain. Called FoodGates, it is powered by the VeChain Thor public blockchain and is the first such solution of its kind. The announcement came at the China International Import Expo (CIIE) 2019, which was also attended by France’s President Emmanuel Macron, and China’s President Xi Jinping. 

Crypto.com has announced an update to its internal governance mechanisms with regard to the Crypto.com Coin (CRO). 

The crypto payments wallet and DeFi player has decided to freeze CRO in their long-term incentives and reserve wallets for three years. Ecosystem grants wallets will be frozen until the mainnet launch. The company plans to release CRO tokens over a five-year period.

• Tezos now has a bullish short-term and medium-term trading bias
• The four-hour time frame shows that large inverted head and shoulders pattern has formed
• The daily time frame highlights and an even larger bullish pattern

Tezos has made major strides this week, with the cryptocurrency rallying to its highest trading level mid-August and gaining well-over thirty percent in value since the start of November.

There is a growing hype surrounding the upcoming Bitcoin halving, set to occur in May 2020, about 190 days away. What this means is widely known. Every four years, the amount of Bitcoin rewarded to block producers is cut in half, a feature hard-wired into the blockchain’s architecture.

Currently, around 1,800 new Bitcoins are produced daily, with miners being rewarded 12.5 BTC for each block mined. That is set to drop to 6.25 next year.

A group of veteran Ethereum ecosystem supporters formed a new DAO tasked with public outreach and marketing for the protocol, called The Marketing DAO. The organization includes former chief marketing officers from ConsenSys and Shapeshift among other key founders.