Your Cryptocurrency Newsletter for 01 December,2020

If you are interested in cryptocurrencies, this newsletter is for you. [img]  [Learn more about RevenueStripe...](   [Learn more about RevenueStripe...]( [img]( [FeedBinary Newsletter]( [Bitcoin Hits a New Record, Rallying to $19,857]( Bitcoin hits a new record, taking less than three years to replicate the meteoric rise that vaulted it into the mainstream consciousness.Bitcoin climbed to a record, taking less than three years to replicate the euphoric ascent that catapulted the cryptocurrency into the mainstream consciousness.The world’s largest digital-asset rallied as much as 8.7% to $19,857.03 Monday, pushing this year’s surge to more than 170%, according to data compiled by Bloomberg. It traded at a few cents for several years after its late 2008 launch by an unknown software developer in the wake of the global financial crash. Shares of companies with exposure to cryptocurrencies also jumped, with Marathon Patent Group Inc. and Riot Blockchain Inc. each rising at least 22%. MicroStrategy Inc., a software company that has been buying Bitcoin, added 20%. “Bitcoin’s moment has arrived,” said Guy Hirsch, managing director for the U.S. at the trading platform eToro, who cited institutional involvement as one of the reasons for its recent advance. “This rally could still have quite a ways to go.”For Bitcoin and its fans, it’s a momentous occasion in a decade-long life cycle marked by bouts of extreme volatility. The token hit a previous high of $19,511 in December 2017 amid widespread elation, only to lose 70% over the course of the following year. In some ways, 2020 proved fertile grounds for Bitcoin’s comeback, with global central banks driving borrowing rates to record lows and providing extraordinary stimulus because of the Covid-19 pandemic. Proponents have seized on the money-printing narrative to promote the notion that Bitcoin is a store of wealth even though inflation remains mostly muted. Still, prominent investors including Paul Tudor Jones said they’ve bought the cryptocurrency as a hedge against central bank and government actions. Even with the latest price surge, the ownership of Bitcoin remains concentrated in the hands of a small number of investors who were some of the earliest adopters. About 2% of the anonymous ownership accounts that can be tracked on the cryptocurrency’s blockchain control 95% of the digital asset, according to researcher Flipside Crypto. With the eye-popping gains, traditional financial firms have sought to capitalize on increasing institutional demand, with Fidelity Investments launching a Bitcoin fund earlier this year. PayPal Holdings Inc.’s decision in October to allow customers to use cryptocurrencies was seen as opening it up to an even wider audience. You now have numerous ways for institutional investors to get exposure to crypto using regulated exchanges or instruments they are comfortable with,” said Henri Arslanian, PwC Global Crypto Leader. “Most of these did not exist in 2017.”Bitcoin remains highly volatile. It has posted an average daily move of 2.7% this year, according to data compiled by Bloomberg. That compares with swings of 0.9% for the price of gold, which is sometimes contrasted with digital assets and also hit a record in 2020. That volatility was on display during the week encompassing the Thanksgiving holiday, during which the coin got within $7 of its previous high only to lose $3,000 within a two-day span.Matt Maley, chief market strategist at Miller Tabak + Co., says it could reach as high as $22,000 before it tops out for a while. Technical indicators show it’s gotten overbought, meaning it could soon pull back. Any drawdown could be swift but, he says, “it is very unlikely that it will be anywhere near as big as the 2018 decline.” [Read Full News]( The post [Bitcoin Hits a New Record, Rallying to ,857]( first appeared on [Feed Binary](. [Read Full Story]( ------------------ You Might Like     [Learn more about RevenueStripe...]( ------------------ [Bitcoin is The New Gold. Here is Why!]( Bitcoin and other major cryptocurrencies experienced a strong downtrend on November 25. This major correction mainly associated with Black Friday sales incurred withdrawals and exchanges into cash as crypto is not yet fully acceptable at the largest retail stores.There were two major news stories on November 27, both shaking the market, one of which was President Trump’s statement on vaccine deliveries which supposedly should start this week, the other was the assassination of the Iranian nuclear scientist. While one of the market’s sentiment indicators – the Volatility Index was dropping sharply last week, it’s today at 22.0 adding 5% to the index value. Despite the growing Volatility, Gold continued downwards, same as Silver, whilst Bitcoin and Ethereum’s uptrend. It looks as if the digital Gold nowadays has a greater value than the traditional safe-haven asset. With all those analyst’s statements on Bitcoin price, Central Banks’ bombshell Digital Currency researches, the value of traditional assets is shading. Bitcoin price was correlated to other assets so many times, it makes no sense now, hence we will review each asset separately.Gold on a Daily chart signifies a possible end of the correction as it reaches 0.5 Fibonacci level and tests an important support at $1764.Gold still looks weak as it remains below dynamic supports and below moving averages. On a 4-Hour chart however, it’s clearly visible that Gold has tested the support of $1764 several times and remains above that level. The RSI is highly divergent and has formed an ending diagonal pattern, Gold has tested the November 24th 21.640 oversold level on RSI today and has formed a double bottom pattern on RSI, let’s see if these price chart patterns on RSI play out well for XAU/USD. If the support withholds, the precious metal will most likely test the $1817 level, which holds both dynamic and static resistances and EMA50. Bitcoin on other hands looks better than its traditional namesake. By the time writing of this article Bitcoin price on Overbit is $19252 and is growing rapidly. With such pace BTC/USD will soon establish a new YTD high and will hit the long-awaited $20K sooner today.Bitcoins last downtrend was a correction to test the dynamic support of the uptrend channel and continue the growth. The hike is also slightly backed by the weak US Dollar, which today lost 0.27% and is now at 91.450, below the monthly support of 92. While RSI indicates that the price is close to being overbought, Bitcoin traders and investors with such an urge for ATH and 20K won’t stop until BTC/USD reaches the target. There are strong resistances to watch for, the main would be the upper threshold of the channel and of course the $20K, though I believe that Bitcoin will close above $20K, probably at $20 430 – $20 500 levels. [Read Full News]( The post [Bitcoin is The New Gold. Here is Why!]( first appeared on [Feed Binary](. [Read Full Story]( ------------------ You Might Like     [Learn more about RevenueStripe...]( ------------------ [Using Blockchain Technology for Secure Data Exchange in Healthcare]( Blockchain technology has featured prominently in the public imagination since the invention of Bitcoin by an unknown person or group of people going by the name Satoshi Nakamoto in 2008.In fact, there is considerable confusion between blockchain technology and Bitcoin, with many thinking the two are the same.However, there is far more to the technology than cryptocurrency.It is best to think of blockchain as a type of database that can be shared amongst any given number of users in a distributed and decentralised fashion.No single person has control over this database. It is also unique in that there is a digital log of all the transactions related to it.Equally importantly, the data is cryptographically secure, which means that only those with the correct cryptographic keys will be able to read or write into the database.The blocks of information are chained together, creating an immutable audit history.The combination of these features presents unique opportunities for the usage of blockchain. Tracking drugs Globally. blockchain technology in the healthcare industry is estimated to be worth around US$500mil (RM2,044mil) by 2022.It can be used in adjudication of insurance and claims, credentialing of healthcare providers, drug and device supply chains, personal health records and health data exchanges, as well as research and clinical trials.Static registries (databases that store static information) can be used to verify the authenticity and legitimacy of products.This helps to attest to the pedigree of items from the point of manufacture to consumption.For example, it can be used to track vaccines from the manufacturing plant to the point of administration. Malaysia is expected to receive our first batch of Covid-19 vaccines in the first quarter of next year (2021).The Health Ministry (MOH) has given the green light for the Science, Technology and Innovation Ministry (Mosti) and Mimos (our national applied research and development centre) to kickstart a related vaccine-tracking project based on blockchain technology as a proof-of-concept.If proven effective, it will be integrated into the existing MOH pharmaceutical track-and-trace system.The vaccine-tracking can be used not only for the Covid-19 vaccine, but also any other vaccine or drug in Malaysia.It will start with the serialisation of each medicine, with tracking done from the manufacturer all the way down the supply chain to the doctor giving the drug and the individual receiving it. This system can then be used to provide a “Digital Health Certificate” that complies with international standards (e.g. the CommonPass that is backed by the World Economic Forum and the Rockefeller Foundation), thus facilitating travel and cross-border movement. Medical record access Blockchain technology can also play a role in improving access to patient medical records.Institutions that store electronic medical records lack interoperability, i.e. the database in one hospital cannot “talk” to its counterpart in another hospital as they usually operate in silos and utilise different types of software.This leads to a high level of inefficiency as doctors in different hospitals dealing with the same patient will not have access to the patient’s history of previous investigations and management plans. A universally-accessible blockchain will allow data to be accessed by relevant stakeholders (e.g. patients, medical staff and insurance companies) in a secure and authenticated fashion.Access can be granted by the patient, using smart contracts.This not only places the control of personal health data in the hands of the individual, but also acts as a disincentive against repeated investigations and delays in providing timely care.The same concept can help with improving medical insurance claims. As patients, we may deal with many different doctors and clinics or hospitals, which means that bits and pieces of our medical history exist in separate places.Placing medical records on a blockchain that allows appropriate access will not only allow faster access for insurance companies, but also help to reduce the incidence of fraud. Hurdles to adoption In 2018, the United Arab Emirates launched its Emirates Blockchain Strategy 2021.This plan not only aims to capitalise on the technology to transform half of all their government transactions into the blockchain platform by 2021, but also focuses on four themes: happiness of citizens and residents, elevating government efficiency, advanced legislation and international leadership.As part of the Strategy, efforts were made to identify hurdles.As it turns out, the biggest challenges in adopting the technology were not technical, instead they were: - Difficulty bringing together the required stakeholders - Unclear regulatory implications - Education and awareness of the involved stakeholders - Identifying and understanding the most relevant applications of blockchain - Addressing governance The levels of uncertainty that occur as a consequence of rapid advances in technology usually lead governments to create regulatory sandboxes.These allow new innovative products and proof-of-concepts to be monitored carefully by regulators in a live testing environment.In Malaysia, Mosti has introduced the National Technology and Innovation Sandbox, which aims to identify and address the policy ambiguity that arises with any new disruptive technology. However, the main hurdle to widespread adoption is more prosaic, i.e. connectivity.Although Malaysia has experienced significant growth in the use of information and communication technology, there exists a digital gap that is leading to increasing digital inequality, especially for those in rural areas, poorer states and low income groups. Other demographic factors also play a role, with the gap increased for women, senior citizens and the differently-abled.In a recent forum by the Social & Economic Research Initiative (Seri) on blockchain, Science, Technology and Innovation Minister Khairy Jamaluddin not only alluded to the need for better connectivity, but also the need to create more awareness of disruptive technologies such as blockchain. This would include not only public messaging campaigns, but also the development of technology literacy and analytical skills amongst school students.Ultimately, there are many digital technologies that warrant our time and investment. Blockchain technology has the potential to positively disrupt the manner in which we conduct healthcare, amongst others, but such opportunities can only be grasped once we have access to basic infrastructure, while mastering the necessary mindset and technical skills. [Read Full News]( The post [Using Blockchain Technology for Secure Data Exchange in Healthcare]( first appeared on [Feed Binary](. [Read Full Story]( ------------------ You Might Like     [Learn more about RevenueStripe...]( ------------------ ------------------ Connect with TheFeedBinary on Facebook and Twitter [fb](  [tw]( ------------------ You received this email because you operate or create content for a website/service and based on your website it seemed like this could be important information to you and your users. FeedBinary daily newsletter is managed by [Postbox Consultancy Services Pvt. Ltd.]( C-4/5, IBD Emporia, Kolar Road, Bhopal, Madhya Pradesh, INDIA, 462042 Want to change how you receive these emails? 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