Skip to main content

Posts

Showing posts from June, 2021

Blockchain for beginners

Blockchain What? If you've attempted to dive into this mysterious thing called blockchain, you'd be forgiven for recoiling in horror at the sheer opaqueness of the technical jargon that is often used to frame it. So before we get into what a crytpocurrency is and how blockchain technology might change the world, let's discuss what blockchain actually is. In the simplest terms, a blockchain is a digital ledger of transactions, not unlike the ledgers we have been using for hundreds of years to record sales and purchases. The function of this digital ledger is, in fact, pretty much identical to a traditional ledger in that it records debits and credits between people. That is the core concept behind blockchain; the difference is who holds the ledger and who verifies the transactions. With traditional transactions, a payment from one person to another involves some kind of intermediary to facilitate the transaction. Let's say Rob wants to transfer £20 to Melanie. He can eit

Bitcoin Analysis June 5th, 2021

 In a recent interview, financial trader Max Keiser said,  "The only time when bitcoin can go up is when Wall Street wants a new asset class". BTCUSD failed to hold above 20 day moving average of 37867.11 USD it's t rading over 8% below 20 day moving average, over 5% down with huge selling pressure is approaching  a critical psychological support level of 33000 USD,  technical charts suggests strong selling opportunity. Technical analysis and some Fibonacci retracements point to initial support level at 31053.67 USD,  levels. If Bitcoin price can't stay above the 33000 for week, it will drop to 31000 USD level or and can see a further decline to 30000 USD where and test next support level at 24082.94 USD. If it manages to close above 37300 USD, we can then see a bullish movement up to 39000 levels again, however 39700 being key resistance level it will be interesting to see if it breaches the levels and goes up to 42000 where we see strong resistance. Questions remai