Bitcoin Price Analysis: BTC Facing Trouble Breaking The $10K, Worrying Sign Before Halving?
- Bitcoin is currently down by 1.5% after a surging to $10,000 mark on Thursday, but a rebound could be underway.
- The primary cryptocurrency is looking for a substantial rebound level around $9,400
Key Resistance Levels: $9,800, $10,000, $10,475, $10,970
Key Support Levels: $9,450, $9,100, $9,000, $8,500
BTC/USD 1D. Source: TradingViewBitcoin’s recovery from the March crash (to $3800) is quite notable, and it’s safe to say that the bulls are technically back in the market. The fundamental part of it is the halving event, which is estimated to take place in three days.
After last week’s surge from $7700 to $9000, Bitcoin’s price continued to increase significantly to reach a key level of $10000 a couple of days ago. Due to the high buying volume, BTC dominance quickly increased above 67% for a couple of days now, causing a lot of troubles for the altcoins.
The major technical aspect is that Bitcoin made a long-term bullish move after breaking from a 12-month descending channel (a bull flag pattern) as presented on the daily chart.
On the 4-hours chart, Bitcoin maintains a parabolic move inside a channel, although the price is now correcting downward after touching the channel’s resistance at $10,000, hinting that perhaps it’s not yet ready to overtake it.
As of now, Bitcoin is pulling back to providing buyers with another opportunity/discount. At the same time, Bitcoin is looking for a support level to activate a new increase. Once Bitcoin manages to pin support above the $9,000 price zone, intense buying pressure should be expected.
The pullback level to watch is $9,400 and $9,100, marked blue on the daily chart. Bitcoin may even retest $9000 (last week’s high) if volume decreases. A breakdown could slip BTC to the channel’s support at $8500 on the 4-hours chart.
Should Bitcoin regain momentum now, it would first need to climb back to the $9,800 and $10,000 resistance levels before breaking out to reclaim the February resistance at $10,450 – which is currently holding as yearly high.
The next buying target will be $10,970 (around the channel’s upper boundary) if BTC continues to advance higher. But as of now, the price is trading at around the $9,670 mark against the US Dollar following a 2-day correction.
Intense bearish action should be accounted for if Bitcoin drops off this short-term ascending channel. Considering the bull flag breakout on the daily chart, more gains should be expected once Bitcoin starts to recover.
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Cryptocurrency charts by TradingView.
- International student exchange in a historical crisis: Exchange organizations and educational institutions need immediate help in the Corona crisis / Declaration 75 years after the end of the war
- Crypto News Roundup – May 9, 2020 – OKCoin Exchange
- Is Ethereum 2.0 really the next big wave in the crypto-ecosystem?
International student exchange in a historical crisis: Exchange organizations and educational institutions need immediate help in the Corona crisis / Declaration 75 years after the end of the war
Hamburg (ots) – The international student and youth exchange in Germany and Europe faces historical challenges. Hundreds of thousands of young people take part in an international school exchange or youth exchange in Europe every year. However, 75 years after the end of the Second World War, the Corona crisis brought international student and youth exchanges to a standstill, which had contributed significantly to international understanding in the past decades. Generations of young people have been encouraged in international exchange and encounter projects to live and commit to democracy, social diversity and European understanding.
This biography-shaping experience of young people is made possible by schools, but often also by non-profit exchange organizations, associations and meeting places, which are now threatened with closures due to the stopping of encounter projects. Essentially, these non-profit organizations do not fall under the federal and state rescue packages.
But the programs and projects of international student exchange remain crucial for democracy, diversity and peace in Europe. The Corona crisis, the end of which is not yet in sight, therefore necessitates immediate educational policy action in this sector and the following steps in the federal and state governments are necessary:
1. More than ever, schools in Germany should maintain and expand school partnerships with other countries.
– In view of the Corona crisis, the international student exchange system-relevant for the education system in Germany needs a strong political tailwind and better framework conditions for the future. Hundreds of school classes maintained contact with their partner schools even during the Corona crisis.
– In the current digitalization of school lessons, exchange and joint lessons with young people and partner schools from abroad must be systematically integrated into the digital classrooms. 2. In the school year 2020/21, the individual exchange of pupils should be continued.
– Individual exchange of young people is also possible during the health crisis with numerous partner countries, especially in Europe. Numerous exchange students stayed in the host countries. Students, parents and teachers wish the programs to be continued or resumed. 3. It is necessary for the federal and state governments to fund infrastructure costs for civil society actors immediately – quickly, unbureaucratically and in the long term.
– Non-profit student exchange organizations as well as educational and meeting places are threatened by the permanent cancellation of international projects. Only in this way can this educational work, which is systemically important for our democracy, continue to exist and be developed further in the 1920s.
– The European and foreign policy dimension of international educational work must not be neglected: partner and exchange projects also finance partner organizations in partner countries in Europe and around the world. International encounters are life-shaping experiences for young people. International student and youth exchange is an indispensable component of a democratic civil society and must continue to be a crucial part of our education system.
The sponsors of the "Exchange goes to school" initiative
AJA – Working Group on Non-Profit Youth Exchange
ConAct – Coordination Center for German-Israeli Youth Exchange
DFJW – German-French youth organization
DPJW – German-Polish youth organization
DTJB – German-Turkish Youth Bridge
IJAB – Department for International Youth Work of the Federal Republic of Germany
German-Russian Youth Exchange Foundation
Tandem – Coordination Center for German-Czech Youth Exchange
UK-German Connection – German-British school and youth meetings
www.change-macht-schule.org/ Austausch-brauch-soforthilfen (https://www. Austausch-macht-schule.org/ausch-brauch-soforthilfen)
"Exchange goes to school" initiative
Tel. +49 (0) 40 87 88 679-31
[email protected] Austausch-macht-schule.org
Original content from: Initiative "Exchange goes to school", transmitted by news aktuell
Original message: https://www.presseportal.de/pm/144321/4590862
Crypto News Roundup – May 9, 2020 – OKCoin Exchange
The Libra Association has a new CEO while Animal Crossing: New Horizons players can build replica “bitcoin farms.”
- The Libra Association announces that former Undersecretary for Terrorism Stuart Levey will become its first CEO.
- Staffers on the Permanent Subcommittee on Investigations propose blockchain voting as a remote solution for the US Senate during COVID-19.
- One Animal Crossing: New Horizons player passes the time by creating a replica “bitcoin farm” in his digital home.
- The Zoom video conferencing platform acquires Keybase – a crypto key directory and secure messaging service – to provide end-to-end encryption for video calls.
Facebook and the Libra Association are doing everything they can to ensure the Libra token lines up with regulatory expectations. To that end, the Libra Association announced that Stuart Levey – Undersecretary for Terrorism under Presidents Obama and W. Bush – will be its first CEO. Levey received bipartisan support during his time in office, which he dedicated towards anti-money laundering efforts.
“I am honored to join the Libra Association as it charts a bold path forward to harness the power of technology to transform the global payments landscape. Technology provides us with the opportunity to make it easier for individuals and businesses to send and receive money, and to empower more than a billion people who have been left on the sidelines of the financial system.”
Thanks to COVID-19, any large gathering of individuals can pose a significant health risk – and the US Senate is no exception. In response, staffers on the Permanent Subcommittee on Investigations have proposed blockchain voting as a remote solution. The proposal memo also recommended “end-to-end encryption platforms … via a military-esque ‘air-gapped’ communications system akin to those presidents and generals use.”
Blockchain is perhaps the most controversial of the three suggestions when it comes to remote voting. Over the past year researchers have blasted blockchain and internet-backed voting platforms as insecure and prone to bugs, prompting some election authorities to pull out of plans to use them.
Staffers did not share researchers’ fears.
“Although some have raised concerns about the use of online systems for voting, those concerns are more specific to secret ballot elections than they are to public Senate votes,” they wrote.
With so many people in isolation, at least one crypto trader is combining the practice with a love of Animal Crossing: New Horizons. This popular Nintendo Switch game – released just after the pandemic hit North America – offers players simple-yet-relaxing challenges to earn in-game currency and items. Reddit user “stholli” used this opportunity to create a replica bitcoin farm in his home, complete with an extra investment of gold bars.
According to VillagerDB, an online catalog of Animal Crossing New Horizons items, each Server item sells for 100,000 bells (the in-game currency). At a going market rate of around $2.90 per million bells, this means stholli’s setup costs at least $4.06 worth of bells—and with no real mining operation, it will never break even. That’s not including the cost of the gold bars or computer, both of which somehow cost less than the server racks.
As you can imagine, the need for remote-yet-secure workplace communication solutions has increased exponentially over the past two months. To that end, the Zoom video conferencing platform has purchased Keybase, a crypto key directory and secure messaging service. Keybase’s current objective will be to provide end-to-end encryption for Zoom calls before expanding its services.
“Initially, our single top priority is helping to make Zoom even more secure,” Keybase said. “There are no specific plans for the Keybase app yet. Ultimately, Keybase’s future is in Zoom’s hands, and we’ll see where that takes us. Of course, if anything changes about Keybase’s availability our users will get plenty of notice.”
The post adds the most immediate actions will be to significantly improve “our security effectiveness, by working on a product that’s much bigger than Keybase. We can’t be more specific than that because we’re just diving in.”
That’s the crypto news roundup for May 9, 2020. Check in next week for the latest news of cryptocurrency innovation and regulation around the world!
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Is Ethereum 2.0 really the next big wave in the crypto-ecosystem?
Ethereum, the second-largest crypto in the world, has seen significant growth over the years, in terms of both upgrades and the coin’s performance on the whole. In fact, the Ethereum Alliance in 2017 had also promised to drive the use of Ethereum blockchain technology as an open-standard to empower all enterprises. It’s been three years now, but has the alliance lived up to its hype? Joseph Lubin, the founder of ConsenSys, believes it has.
At the recent Ethereal Summit, Lubin was of the opinion that the alliance has had an impact on the ecosystem, living up to all the hype and claims. He stated,
“It is hard to notice that from the outside. But from the inside, there is an amazing amount of high-value activity. The alliance’s major mission was o find the specifications. What to build around them and that has been valuable to make ETH so much accessible.”
At the moment, the ETH2 upgrade is the center of attraction. The ETH community and the entire ecosystem has been waiting for this upgrade. But, is ETH2 really the big next big wave in the ETH ecosystem?
By the looks of it, ETH2 does look like the next big thing that can happen to the ecosystem. The shift from PoW to PoS is a much-required step considering the fact that ETH prioritizes security and reducing the wastage of energy [mining]. Most importantly, this upgrade is a boon to not just users, but also developers, according to Lubin. He added,
“For developers, it is going to feel like an operating system upgrade, and it is an organic transition to more capabilities. We are going to solve problems and come up with new features.”
Decentralized Finance [DeFi] is another big sector that’s growing leaps and bounds at the moment. Built on Ethereum, the fact that the DeFi market saw strong recovery post the March market crash proves it to be a promising sector. With this, DeFi has started to move from being a niche market to mainstream finance. Further commenting on this rapid growth, Lubin noted,
“All of this will lead to much more granular governance in the world and we are going to be able to create our own token in different projects. I think that it is going to be an empowering future where people and small organizations have more economical agency.”
Author: Published 10 hours ago on May 10, 2020