Bitcoin and Ether Market Update: February 22, 2019
On February 20, 2019, bitcoin closed above $4,000 for the first time since January 9. It was the sixth consecutive day of gains for the most popular cryptocurrency, and traders were already eyeing the 2019 high at $4,169.
Mark Zuckerberg, CEO of Facebook, shared his thoughts on blockchain technology and its distributed ledger in a video discussion with Harvard Law professor Jonathan Zittrain on February 20. According to him, the innovative technology can be used to improve the social media giant’s authentication and data sharing services. It will allow users to connect with a fully distributed system and share their data and information wherever they want without the need of intermediaries.
Earlier this month Facebook acquired smart contract focused startup Chainspace, which might prove to be the first step towards creating a blockchain-based service or platform.
The South Korean technology giant Samsung unveiled its long-anticipated Galaxy S10 mobile phone on February 20. As some expected, the new device offers a way to store private keys for blockchain applications using a new hardware security feature called Samsung Knox. It is still not confirmed if the device will come with a built-in cryptocurrency wallet or the newly announced hardware will allow third-party developers to create their crypto wallet interfaces and integrate them with the S10.
This news confirms leaked Samsung S10 images showing an application called Samsung Blockchain Keystore used to store ether and bitcoin.
Bullish traders managed to push the BTC/USD trading price as high as $4,143 during the trading session on February 21 but eventually closed with a red candle to $4,008 on the Bitfinex daily chart.
Ether moved above the $150 level on February 20. Last time observers saw it reaching this mark was on January 9 on its way down from $161, the highest point of 2019. The ETH/USD pair closed the day at $151 and was just $10 below the mentioned peak.
Buyers were not able to use the momentum and closed February 21 with a red candle to $148 after trading at $156 during the day session.
The Ethereum wallet provider MyEtherWallet (MEW) announced a crypto-to-fiat withdrawal platform created in collaboration with Swiss crypto brokerage company Bity. As reported in the official blog post, the new service will “allow MEW V5 users to exchange crypto to fiat without needing to be KYC verified, up to CHF 5000 (which happens to be approximately equal to USD 5000).”
Customers will be able to either withdraw their funds in fiat using one of the Bity supported ATMs in Switzerland or use Bity’s crypto-fiat gateway anywhere in the world. Although a KYC process is not required, Bity will still need to perform a proof of wallet-ownership by asking for mobile phone numbers and banking details including an IBAN.