Blockchain

Bitcoin Mid-July Levels Set In, Can Bulls Make A Comeback This Month?

It has been a dark couple of days for Bitcoin. Since losing the $11K support, an unprecedented drop has been initiated ultimately leading to a breach below $10K. This level has been pivotal to bulls’ efforts and in recent weeks thought to be done and dusted. What began as mere FUD has now turned into […]

Published

6 months ago

September 10, 2020

Republished by Plato

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What began as mere FUD has now turned into real concern with bears out to prove their resilience. So far, the key $10K mark is the battleground. If the bears drag prices beneath this level, they will be prevailing, but if the bulls manage to pull away, there is still hope for a return to the $12K highs.

Prior to the recent drop below $10K, Bitcoin had managed to stay above this level for weeks, with the last time dating back to mid-July.

Eyes are currently glued to the price with correlation to the S&P 500 expected to be confirmed in the opening hours of the stock market. As of pre-market on September 8, stocks including Tesla, Amazon, and Apple were down by around 5%, with these and a number of other notable stocks dragging the wider market down.

If they are down on the market open, investors will be keen to see if Bitcoin follows. In the spring of the COVID-19 pandemic, the digital asset was highly correlated to stocks. But over time, decoupled to a certain degree with significant price changes still spilling over.

Case For Bullish Month

But one positive factor, Bitcoin could be set for support and adoption in the U.K later this month. This, if Boris Johnson initiates a no-deal Brexit which he has threatened if there is no advancement in negotiations with the EU by the end of the month.

Additionally, it has also been reported that U.S Senate Majority, Mitch McConnel has stated that the proposed $1T relief package will be voted on this week. The previous package led to a short-lived Bitcoin pump.

The last few days have been choppy and the same might be true of the rest of the month, however, most analysts are calling for patience and resilience with high optimism that a rebound is imminent.

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DISCLAIMER Read More

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

Source: https://zycrypto.com/bitcoin-mid-july-levels-set-in-can-bulls-make-a-comeback-this-month/

Blockchain

GBA Healthcare Working Group Releases White Paper as First Asset inBlockchain Ethical Design Framework for Healthcare

Published

51 mins ago

March 8, 2021

Republished by Plato

WASHINGTON, DC –March 2021

Beginning early 2020, theGovernment Blockchain Association (GBA) Healthcare Working Group (HWG)began undertaking the development of an ethical design framework for blockchain solutions in the healthcare industry as a service to the public. The GBA HWG is releasing the first asset in the Blockchain Ethical Design (BED) Framework for Healthcare in the form of a White Paper.

“We are excited to offer this guidance to healthcare policymakers, decision-makers and innovators in implementing blockchain featured technology in the healthcare space. The BED Framework for Healthcareis being developed collaboratively by members in the HWG including caregivers, entrepreneurs, healthcare technologists and legal professionals from around the world. We cover a comprehensive spectrum of use cases, regulatory and legal scenarios, and procedural insights based on real world experience in healthcare technology innovation. This White Paper is only the first asset in a suite of guiding tools the GBA HWG will be releasing through 2021, and we are looking forward to the feedback of our audience.” –Marquis Allen, GBA Healthcare Working Group Chair

The purpose of this publication is to:

Identify potential ethical issues of blockchain used in health service delivery
Discuss potential ethical issues for stakeholders across the healthcare ecosystem including regulatory and compliance segments

Propose a conceptual framework of blockchain ethics as it applies specifically to its design, implementation and use in healthcare.
Create an outlinefrom which the Blockchain Ethical Design (BED) Framework for Healthcare and its assets, tools, documents and content will be developed by the GBA HWG.
Raise awareness and stimulate further debate on the ethics of blockchain in the healthcare IT,health system governance and regulatory communities.

The GBA invites you to contact them for more information.

Learn more about the GBA: gbaglobal.org

For more information about the GBA Healthcare Working Group: gbaglobal.org/HWG

To download the whitepaper: gbaglobal.org/download

Contact: Kathy Dache @ Kathy.Dache@gbaglobal.org

________________________________________________________________________

Blockchain

Big Data Protocol Staking Surges Over $6 Billion in Latest DeFi Frenzy

Published

54 mins ago

March 8, 2021

Republished by Plato

Boasting three and four-digit annual percentage yields, Big Data Protocol (BDP) has become the latest DeFi frenzy as total liquidity on the protocol has skyrocketed to $6.1 billion just two days after liquidity mining incentives were launched.

The protocol announced its fair launch on March 6 where 100% of the initial circulating supply, which is 30% of the total of its BDP token, will be distributed to the community over six days. It is backed by a team of technologists, crypto investors, and data scientists and designed to incentivize liquidity mining over the long term.

There are liquidity pools for twelve different DeFi assets and they have attracted a lot of collateral in just two days.

1/ANNOUNCEMENT: fair launch of $BDP and $bALPHA is coming!

100% of initial circulating supply of $BDP is distributed to the community over 6 days, starting Sat 11 am ET/4 pm GMT

Earn by staking 12 assets $WETH $WBTC $USDT $USDC $OCEAN $LINK $SUSHI $UNI $YFI $AAVE $SRM $TOMOE pic.twitter.com/GatOjGtUZJ

— Big Data Protocol (@bigdataprotocol) March 3, 2021

Big Returns for DeFi Stakers

Over a million ETH has been deposited in the wrapped Ethereum pool according to the BDP data vault, earning an APY of 40%. Almost 17,000 BTC is currently in the wBTC pool earning 82% APY while the Tether vault has gained 728 million USDT earning 96%.

The top earning pools are boasting four digit returns with OCEAN at 1,375% and TOMOE at 1,315% at the time of writing.

A blog post explaining the tokenomics elaborated:

“Users provide liquidity to earn bALPHA over the course of 3 months. Subsequent data tokens, named bBETA and bGAMMA, will launch after bALPHA, which will further incentivize liquidity.”

A portion of BDP and data tokens are burnt as the usage of the Protocol and marketplace grows over time, it added.

The total supply of 80 million tokens will be divided as follows: 30% distributed in the initial six day yield farming incentive, 35% allocated to future staking rewards, 25% held as an ecosystem reserve, and 10% to the team and advisors.

The bALPHA data token will have a total supply of just 18,000 tokens which will all be allocated to liquidity mining rewards. Two more data token sets, bBETA and bGAMMA, will be announced in due course the blog post added.

BDP Price Update

At the time of writing, BDP was trading at $5.85, falling 19% on the day after hitting a peak of just over $14 on Sunday, March 7.

The bALPHA price is a little over $10,000 per token after skyrocketing to over $40,000 at the weekend according to Coingecko.

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Source: https://cryptopotato.com/big-data-protocol-staking-surges-over-6-billion-in-latest-defi-frenzy/

Blockchain

TA: Bitcoin Turns Attractive Above $50K, Why BTC Extend Its Rally

Published

3 hours ago

March 8, 2021

Republished by Plato

Bitcoin price gained bullish momentum above the $50,000 resistance against the US Dollar. BTC traded towards $52,000 and it remains supported for more upsides.

Bitcoin started a fresh increase above the $50,000 and $50,500 resistance levels.
The price is now trading well above $50,000 and the 100 hourly simple moving average.
There is a key rising channel forming with support at $50,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could correct a few points, but the bulls are likely to protect $50,000 and $49,500.

Bitcoin Price Starts Fresh Increase

After a strong close above the $48,000 level, bitcoin started a fresh increase. BTC was able to clear the key $50,000 and $50,500 resistance levels to move into a positive zone.

There was also a break above a major bearish trend line with resistance near $48,400 on the hourly chart of the BTC/USD pair. The pair extended its rise above the $51,000 level and traded to a new weekly high at $51,853.

It is now correcting lower, but it is trading well above $50,000 and the 100 hourly simple moving average. An initial support is near the $50,750 level. It is close to the 23.6% Fib retracement level of the upward wave from the $47,141 swing low to $51,853 high.

Source: BTCUSD on TradingView.com

There is also a key rising channel forming with support at $50,500 on the same chart. The next major support is near the $50,000 level. Any more losses may possibly lead the price towards the 50% Fib retracement level of the upward wave from the $47,141 swing low to $51,853 high near $49,500. The main support is now forming near the $48,800 level and the 100 hourly simple moving average.

More Upsides in BTC?

If bitcoin stays above $50,500 and $49,500, it could start a fresh increase. An initial resistance on the upside is near the $51,500 level. The first major resistance is near the $52,000 level.

A successful close above the $52,000 resistance level could open the doors for a larger increase in the coming sessions. The next major resistance could be $53,200, followed by $54,500.

Technical indicators:

Hourly MACD – The MACD is now gaining momentum in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now well above the 50 level.

Major Support Levels – $50,500, followed by $50,000.

Major Resistance Levels – $51,500, $52,000 and $53,200.

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Source: https://www.newsbtc.com/analysis/btc/bitcoin-turns-attractive-above-50k/