September was fast-forward for us at SwissBorg. With our product launch rapidly approaching we are in full throttle mode! Like the description of our Fiat Gateway below, each month we hope to introduce a new feature of our show-case product. As our tech team works, single-mindedly, on our upcoming Wealth app, the rest of us focus on expanding our efforts to grow our community and our leadership in the crypto sphere. With the coming of Libra Association to Geneva, we are once again reminded and comforted by our choice of headquarters in Switzerland, the de-centralized nation par excellence, as a natural home for cryptocurrencies.
September was also a most (more than usual even for this market) volatile period for the crypto market. With the price of Bitcoin, the support level around $10,000 turned into resistance level on shorter time-frames and the Bitcoin price dropped below that level. This reversal of support created much pressure to sell. The strong psychological level of $10,000 was passed, as I write, in the downward direction. But seasoned hodlers know that a bear market doesn’t always indicate long-term decline but could rather reveal signs of growing pains, with Bakkt and Libra bringing both new hope and new concerns to the market.
Cyrus Fazel our founder, attended the Robo Investing event in London where he discussed what the future has in store for digital wealth and robo investing. He will continue his thought leadership at Oxford TEDX BONNSQUARE October 3rd, with a talk, “From Ancient Persia to Beyond Bitcoin.”
Our team continued to grow as it has since we started this Monthly in the spring of 2017. We welcomed a new Junior Accountant, Van-Anh Pham in Lausanne and a Business Development Representative and EA, Clarisse Encontre, in London. With the addition of Senior Digital Designer, Tin Manasan, and Senior Digital Marketer & SEO specialist, Gwen Blécon, we are more eager and prepared than ever to embrace the challenges that we face to achieve a seamless and successful launch of our Wealth app and the continued growth of our community.
There are more than 30K of you playing, learning and earning with our Community app. Thanks to our data and tech team we can now reveal which country is winning and have exciting new features that promise to engage you.
Join us, bring your friends, spread our news and help us build the future of finance together!
by Alex Fazel
Universal Access Through Fiat Gateways
Universal access is a game-changing mission yet a purpose that, just like Rome, cannot be built overnight. One of the most vital ways to give equal investment access to all is by having the local national currency enabled. This feature can drastically improve the community user’s experience thanks to what we call FIAT CURRENCY gateways or “on & off fiat ramps” as some people like to say.
Rather than debating whether fiat trading pairs are vital or not, let’s jump into some of the most recent data sets on cryptocurrency exchanges to see this feature more objectively:
The first data set is to simply differentiate the number of exchanges that offer fiat to crypto trading pairs vs. the more common crypto to crypto exchanges. Currently, although the term “exchange” can sometimes be just a bitcoin shop with white-labelled technology, there are roughly 250 cryptocurrency exchanges around the globe according to coinmarketcap.
Less than half of the cryptocurrency exchanges (48%) offer fiat currency gateways.
Among the exchanges with fiat gateways, 31% of these exchanges with fiat gateways (37 exchanges) have zero to very low volume (less than 5K USD of transaction volume a day).
As a result, we can see that only roughly 30% of crypto exchanges around the globe are “viable”. SwissBorg will already be among the top 30% in the very first version of the wealth app in terms of accessibility.
As a matter of fact, we are proud to say that we are very likely (although can’t guarantee) to have 4 fiat currency trading pairs.
The Swiss community happens to be among our largest so we have prioritized the Swiss franc gateway.
The great news about the CHF gateway is that less than 10 “exchanges” across the entire globe offer this gateway. Not to mention that only a couple of them are actually based in Switzerland. And as you know, NONE of them offer best execution like our multi-node OEMS.
The three other fiat trading pairs likely to be available for the community through our wealth app are:
British pound: a more competitive yet upcoming market will get access to our best execution. Our local presence is expanding very rapidly and is already eyeing a few potential partnerships.
The U.S dollar: Perhaps the most important gateway as this is the easiest currency to access being the global reserve currency.
The EURO: a growing market with stronger adoption in eastern-European countries which are likely to spread in the more conservative western European countries.
What does this accessibility mean after all? What about the CHSB?
Well, one commonly asked question is WHEN BINANCE?!!!
We will answer your question with a question. Is it vital for us to be listed on Binance at the moment? Simply put and in terms of accessibility: No. Why?
The CHSB token will have more fiat currency gateways than Binance currently offers and the purchase will be a lot simpler.
Simpler than Binance?! Yes. The simple and slick interface on the wealth app will remove all the overly technical aspects such as order books, confusing terminology such as bid, ask, stop-loss orders etc.. that do not serve any real purpose unless we are day traders :)
Now does this mean that we will never try to list on Binance someday? Absolutely not! But buying CHSB tokens will soon become extremely easy and effortless.
Let’s explore the importance of these fiat gateways just a tiny bit more.
Having 4 fiat trading pairs on a single platform is a very strong argument for other tokens to be listed on our wealth app and we already can see people coming our way for partnerships.
One last point and perhaps one of the most important, did we forget to mention that our current fx partner offers more 30+ fiat currency gateways? So from this point onwards, we will have many fiat options and will always prioritize fiat integration based on the communities supporting us.
Closest Support / Resistance level: $8’000 / $8’800
Change in price (monthly): -13.5%
Change in price (since January 1st): +120%
Change in volume (monthly): -24%
The compression triangle was the pattern closely followed by traders this month. Never has the price managed to break it up. After dropping under the psychological support of the $10’000 at the end of August, the price recovered to consolidate above this key level during September.
Unfortunately for bulls, the upward momentum was a very week and the price was very unlikely to reverse the downward trend of recent weeks. In particular, despite the positive announcement of the launch of Bakkt futures, volumes decreased sharply and support was tested more and more frequently.
With this unfavourable market, the key support finally broke at the end of this month to break the triangle. In a few days, the price dropped from $10’000 to $7,700 with enormous selling pressure generating high volumes.
At the time of writing, the price is struggling to stabilize above $8’000. The last major support. For the moment, Bitcoin is traded below this level. As can be seen from the volumes projected above, there is very little support below this level. If this level does not hold, there is a high probability that the $6’500-$5’000 region will be tested again.
In terms of technical indicators, the sharp drop pushed the price of bitcoin into a bearish market. Indeed, the price has fallen below the 200-day moving average (the last time was in March 2018) and the momentum is bearish with diverging MACD lines. The high volatility brought the RSI, calculated over 14 days, to a strong oversold region never observed since November 2018.
What could we expect for the future?
After the break in the pattern followed for several weeks by the majority of traders and the violent fall below the key level of $10,000, it is important that the market calms down and that the price finds support above $8,000. A period of consolidation could give hope for a trend reversal that has already been seen in the past after such violent falls (most of the time, these recoveries have been a positive sign for a long-term bull market).
On the other hand, without a significant catalyst, a break of the $8,000 support would be a negative sign for the price of bitcoin in the medium term and the $6,000 region is likely to be getting closer quickly. The next few weeks, even days will be critical.
It should also be recalled here that, since the beginning of the year, the Bitcoin price has risen by more than 120%, which puts the current fall into perspective. As we mentioned last month, a violent price increase almost always ends up returning to an average as a violent fall will present a recovery back to an average trend.
Bitcoin will never cease to surprise us because, as we recall, technology is constantly evolving and the use of the network has been growing rapidly since the beginning of the year and this is a positive catalyst for the long term.
Moving Average (MA): Trend-following indicator derived from the simple average of the prices on a given time period (for example 20 days).
Support/Resistance: Levels where the prices will tend to stop and could probably reverse its trend. A support level will likely tend to stop the prices dropping while resistance is a level where the selling pressure is higher and will likely stop the price rising. Once a support or resistance level are reached, the price will bounce back or break through the level and continue his actual trend.
MACD: The Moving Average Convergence Divergence is a trend-following momentum indicator that compares a short period and a longer period moving average. From these comparisons, a “signal line” and a “MACD” line are constructed. Multiple information can be extracted from this indicator. In particular, when the “Signal” and the “MACD” are crossing, this indicates a probable momentum change between “bulls” and “bears”.
Disclaimer: The information on the Bitcoin Analysis is not targeted at the general public of any particular country. It is not intended to be distributed or used by residents of any country where such distribution or use would contravene any local law or regulatory requirement.
Any analysis, opinion, commentary or research-based material on our Bitcoin Analysis is for information and educational purposes only and is not, in any circumstances, intended to be an offer, recommendation or solicitation to buy or sell. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks if you are at all unsure. No representation or warranty is made, express or implied, that the materials on our Bitcoin Analysis are complete or accurate. We are not under any obligation to update any such material.
As such, we (and/or our associated companies) will not be responsible or liable for any loss or damage incurred by you or any third party arising out of, or in connection with, any use of the information on our Analysis (other than with regards to any duty or liability that we are unable to limit or exclude by law or under the applicable regulatory system) and any such liability is hereby expressly disclaimed.
That's it! We are more than 32'000 players in the Community App! Last month was a record month for the growth of our forecasting community. Competition is still intense and some countries are starting to stand out. With the current volatility of the bitcoin price, the ranking of a lot of players has evolved rapidly: significant increases and falls were recorded.
In addition to statistics on the competition and the progress of the different countries, the tip of the month presents our brand new interactive graph that will allow you to improve your analysis and your success rate. And for the first time, we are informing you of the number of friends to invite to climb the different levels of the ranking. You will see that the top 1000 and top 100 are not far away if you persevere in your forecasts and invite your friends!Read More.
SwissBorg at the London Blockchain Forum: Crypto Reunion
It is back to school in the Crypto sphere so we decided to partner up with London Blockchain Forum on Thursday, 19th September, to organise the very first networking event of the season with some of the major players in the Blockchain space.
Our goal is ambitious: to make London the Crypto capital of the world. But we have faith in our method: edutainment or teaching while entertaining. Teaching works best when the student is not bored. If we want to reach mass adoption of crypto assets we need to make sure that the tech talk doesn’t scare the people who can most benefit from it, the non-experts. So, while we seek to educate we are also committed to making our meet-ups diverse and fun. Read More.
Nicolas Rémond, our CTO, who was in Geneva for the 2-day Blockchain for Impact conference at the United Nations. He listened to Bertrand PEREZ from Libra Association and reports: Libra aims at tackling all of the UN SDGs (sustainable development goals) by 2030!
By Alex Fazel
Dear community members, and blockchain buddies,
Summer is officially over and we are back in the swing of things with fresh new interviews to be premiered every Wednesday at 8 PM GST, starting October 2nd.
But first, we’d like to thank you all once again for sharing, liking, commenting and most of all, watching our video interviews from Season 1. Our YouTube channel is growing day by day and we are already getting close to 3K subscribers. We are still aiming to reach 4K by the end of December 2019 so we need your help! Liking, sharing, commenting or any small gesture would be highly appreciated! : )
So far, Andreas Antonopoulos’ video reached a record number of 33K views on our channel and although it seems like a miracle, we are hoping to go as viral as that with our upcoming videos!
Here is a little preview of what is coming next on Season 2 of Cryptonites.
A few “nites” ago, we had the great pleasure of sitting down with a diverse range of crypto influencers and thought leaders who are well known for their groundbreaking ideas and knowledge across the crypto ecosystem. These include the legendary Don Tapscott, ThatMartiniGuy, Nikita Sachdev, and Crypto Sara among many others.
We heard some fun stories on their personal experiences, breakthroughs in crypto and thoughts on what the future of blockchain technology will bring. These videos are guaranteed to “edutain” you and with the sharpest minds sharing views on the latest trends.
Make sure you continue tuning in and sharing your comments and feedback with us.
Cyrus Fazel at Tedx BonnSquare Oxford, October 3rd, 2019
Our CEO and founder, Cyrus will be TEDX BonnSquare on October 3rd, where he will give a talk entitled, “From Ancient Persia to Beyond Bitcoin”
CC Forum: Our event & media partnership with Cryptocompare was so fruitful that we decided to repeat it with a similar partnership with CC Forum, one of the biggest events of the year. The Conference boasts 2500 + attendees, 100+ speakers, 701 exhibitors, and 30+ investors hub. It will take place over three days, from Oct.14 - 16, 2019, at Queen Elizabeth II Conference Centrein London. In addition to a speaker slot, we will have a booth and our logo displayed on all of the Forum’s marketing material.
Mark your Calendars and look at the surprise SwissBorg has for you: discount codes!
Get YOUR discounted VIP/ Business ticket or a completely FREE standard ticket by using the invite codes here below: