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Blockchain All Over The World

Nov 18, 2019

Asian countries continues to educate their population about the blockchain A Chinese state-owned news agency Xinhua published an ”Bitcoin: the first successful application of blockchain technology” article. The material explains how Bitcoin works, how to use private keys and other useful information. Similar articles help to spread the digital currency.

But, as we see, the asian population didn’t break into buying cryptocurrency. And the market reacted poorly to a positive news background.

At the same time, the market doesn’t stop improving. For example, the well-known Bakkt received permission to conduct custodial services for its institutional investors. The new destination will be called Bakkt Warehouse. The company’s developers also said that the BTC payments application is already in the process.

However, the fourth consecutive week is closed by red candles. The good news is that the price doesn’t break through the support line, which was the upper limit of the downward wedge.

We also talked about Ethereum last week: their performance is the best for the entire project. But at the last weekend there was a symmetrical triangle breakdown with the lower bound subsequent testing. All this indicates the weakness of customers, as we noted earlier.

As a conclusion, we can say that the whole past week had a positive news background. Many coins gave more than 10% increase. For example, ADA/BTC has already shown over 8% growth. It is necessary to expect a BTC movement, for this reason we recommend reducing positions in altcoins.

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