According to an article in Cointelegraph, there are five signs that Bitcoin is about to enter a bull market phase and crash through its multi-year resistance at $10,500.

The Bitcoin price since the halving in May has been seeing some sideways action, which Keith Wareing writes is reminiscent of early 2017, “when Bitcoin hit $1,180 for the second time, triggering a catastrophic sell-off.” It appeared that the leading cryptocurrency was dead, but instead “what happened after is the first sign that we were in for a bull market.”

The Trap

This is the first sign. Wareing explains “you can see that the pattern that played out after the 40% dump from $1,180 in January 2017 is almost identical to that of the 57% dump that occurred on March 12 2020.” What happened next in 2017 was a 2000% rise in the value of Bitcoin.

The Range

Sign two is “seeing a new descending channel opening up that has perfect Fibonacci levels lining up.”

The Orderbook

Wareing says, “there are significant sell-orders as denoted by the yellow line around the 50% fib at $9,450 and interestingly a lot of buy orders around $8,800.” He explains, “As the shorts pile in targeting $8,700, the spoofers can take a large long position, remove their $9,450 sell-wall and scoop up all those liquidations.”

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https://medium.com/@lendoplatformltd/the-signs-of-a-bitcoin-bull-market-5651067289a3

Recently, Cointelegraph reported that Coinbase, the major crypto exchange, has come under fire “for its alleged efforts to sell crypto surveillance services to both the U.S. Drug Enforcement Administration and the Internal Revenue Service.”

Coinbase has responded by saying, “the company’s analytics services do not share any personally identifiable data with law enforcement,” and that it sources all data from publicly available information.

Some dispute Coinbase’s claims, and a source who worked in compliance with crypto exchanges revealed “that multiple government entities have been actively monitoring users across nearly every centralized exchange and custodial crypto service provider for years.” The anonymous source also claimed that this activity goes back to the early days of Bitcoin, and that after the Mt Gox incident, it increased and intensified.

The source told Cointelegraph: “I’ve worked for crypto exchanges, bitcoin ATM companies, general crypto services providers, and more. They all engage in surveillance practices. They have no choice.”
They also explained, “that the U.S. government’s favored methodology is called a Suspicious Activity Report, or SAR. While SARs are common in most money transmission businesses, crypto SARs appear to operate under different standards.” They said: “In traditional institutions, a transaction needs to meet certain criteria in most cases to be deemed suspicious. That’s not really true for Bitcoin and other cryptocurrencies though. As far as the government is concerned, the threshold of ‘suspicious’ is met as soon as cryptocurrency is involved.”

...

https://medium.com/@lendoplatformltd/is-big-brother-watching-your-crypto-98dbbd602ca5

While most of us have been focused on Covid-19, whichever country we are in, a quiet revolution has been happening in Africa, according to a report by Arcane Research and Luno, Cointelegraph reports.

The study analysed Google searched ‘Bitcoin’ and found that Uganda, South Africa, Nigeria, Ghana and Kenya were amongst the Top 10 countries for crypto-related searches.
It goes on to say that Africa is “one of, if not the most promising region for the adoption of cryptocurrencies,” in part because adoption so far has been low, but interest is high and growing.

The continent is promising, because it has a distinct combination of “a young population, frequent monetary crises and currency failures, large unbanked or underbanked populations, and expensive means of payment.”
In terms of numbers, Nigeria has for some time dominated cryptocurrency trade volume, but it emerges that South Africa has the highest percent of cryptocurrency ownership or use among internet users in Africa with 13%, followed by Nigeria with 11%. Indeed, worldwide, South Africa ranks fifth in the world for cryptocurrency adoption.

The current health crisis, and the many restrictions imposed, appears to have encouraged South Africans to head towards Bitcoin. In the last week, the country has posted “its second-strongest weekly volume on peer-to-peer Bitcoin marketplace Localbitcoins, with nearly $1.65 million worth of BTC changing hands.” It surged to the extent that its P2P knocked Kenya out of its crypto trade position.

P2P in Nigeria is also showing record highs, achieving $9.2 million in combined weekly trade, while Kenya has also seen a spike in Localbitcoins trade between BTC and the Kenyan shilling producing its second-strongest week on record for the third consecutive time. Morocco and Egypt have also reported record trade activity.

For the first time ever, P2P volume in sub-Saharan Africa has out-performed Latin America, so it’s definitely a continent with plenty of crypto confidence.

https://medium.com/@lendoplatformltd/africa-shows-big-surge-in-crypto-confidence-f55fdad6b8cf

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According to William Suberg at Cointelegraph, there are a number of things that could impact on the price of bitcoin this week, including the fact that the price of oil is at an all-time low, and despite the fact that millions are currently unemployed.

As the article points out, bitcoin is maintaining a price at around $7,000 on 20th April, “despite strong resistance on April 20 as oil crashed through fresh support levels towards $10.” It adds that this is going to be a “choppy week” for traditional markets, but if you are a bitcoin price follower, here are five things to look out for during the next few days.

This week has begun quite calmly for bitcoin, especially as there are often sell-offs over the weekend. This doesn’t appear to have happened and the BTC/USD price “lingered inside a $300 corridor over the weekend.”

Bitcoin has now maintained $7,000 support since 16th April, although analysts warn, “year-to-date resistance and the 200-day moving average both present barriers to further growth.”

Cointelegraph Markets analyst Michaël van de Poppe predicted today, “Breaking and flipping the yearly level and I assume we can continue towards $7,600.” We can also see that as last week ended, the cryptocurrency moved above the 50-day moving average, flipping previous resistance.

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https://medium.com/@lendoplatformltd/what-might-happen-with-bitcoin-this-week-55e01c81c9d4

The uses of blockchain are always expanding, and Sport is one of the sectors where it is finding a lot of support. As Cointelegraph points out, there has been a general enthusiasm for using blockchain technology in scenarios apart from finance, but examples have not always been easy to find, outside of real estate and medical records. However, now we have some in the world of sport.

Cointelegraph writes, "The potential of the technology to underpin a variety of systems within the sports sector has long been discussed," but 2020 has already seen "several prominent use cases where blockchain technology is being used to improve offerings to fans."

In Europe, it is the football clubs that have recognized how blockchain can be used to "improve ticketing, merchandising and interactions between audiences and sports teams and organizations," and in North America it is in the NFL and Major League Baseball.

UEFA European Championship 2020
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The UEFA European Championship is held every four years, and in football-mad Europe it attracts massive crowds of supporters, as the nations battle it out for the Cup. This year, it will be held in June and July and the tournament will be hosted by 12 cities across Europe. Ticketing is one of the most challenging aspects for the tournament’s organizers, with over 28 million ticket requests for the 2020 showpiece across 200 countries.

So, UEFA has turned to blockchain for help. It is providing a blockchain-powered mobile app to provide a contemporary ticketing solution for fans. Indeed, UEFA aims to supply and deliver 1 million tickets through the Euro 2020 app.

There are a several advantages to using blockchain for a ticketing system. It will rule out the duplication of tickets, nor will fans need to visit a ticket office. Furthermore, they’ll simply have to turn on WiFi on their smartphones when they arrive at the stadium, which will then activate their ticket QR codes and allow entry. There’s also no paper waste involved.

As Cointelegraph says: "The primary benefit of an app-based ticketing system is the ease of distribution across the sheer number of countries. Ultimately, UEFA's move to use blockchain technology to power its ticketing operation is a major boon for the industry. Given that football is the most popular sport in the world, the adoption of the technology could set a trend for other service providers to follow."

Source: https://medium.com/@lendoplatformltd/euro-2020-tickets-for-sale-on-a-blockchain-app-6f5004237e31

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https://medium.com/@lendoplatformltd/turn-your-elt-into-bitcoin-57fd8cf86f9c

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