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China’s Great Firewall, a tool used to ban Chinese citizens from using sites like Google and Facebook, has listed a major explorer for Ethereum’s (ETH) blockchain.

According to data from non-profit monitoring organization GreatFire, China allegedly blocked one of the most popular ETH block browsers, Etherscan, in October 2019. As of Dec. 3, Etherscan’s domain remained inaccessible from IP addresses inside mainland China, as reported by crypto publication Coindesk on Dec. 3.

Etherscan is aware of the block, firm’s CEO says

While the Etherscan’s blockage was largely unnoticed, the firm’s CEO Matthew Tan reportedly said that Etherscan noticed the action “within the last 3 months,” Coindesk reports. Cointelegraph contacted Etherscan’s team to confirm the information but the firm hadn’t responded as of publication.

The block’s timeline

According to GreatFire, which collects a database of websites blocked by the Great Firewall, Etherscan was purportedly still intact with “no censorship detected” as of Aug. 17, 2019.

The Ethereum block browser was fully blocked by Oct. 29, 2019, while the exact time of the block is not reported by GreatFire.

Other ETH blockchain explorers still accessible in China

Meanwhile, other Ethereum block explorers are still intact in China. As reported by Coindesk, a localized version of the browser, cn.etherscan.com, is accessible to Chinese users as of press time.

A block explorer is a website or a tool that allows users to track blocks, wallet addresses, network hashrate, transaction data and other key data on a certain blockchain, like the Bitcoin (BTC) blockchain, the Litecoin (LTC) blockchain, or the Ethereum blockchain. For Bitcoin, there are a number of block explorers, including Blockchain.com, Blockexplorer.com, or Btc.com. 

Meanwhile, Etherscan is just one of a number of block explorers such as Etherchain.org and Ethplorer.io. In March 2019, major Ethereum wallet supplier MyEtherWallet announced the launch of the alpha version of its new open-source Ethereum blockchain explorer, EthVM.

Cointelegraph By Helen Partz , 2019-12-03 22:16:00 ,

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NewsBlock © 2019 - 2020 All rights reserved.

NewsBlock © 2019 - 2020. All rights reserved.


While Bitcoin’s price seemingly moves without rhyme or reason — collapsing by dozens of percent and embarking on face-melting rallies on a whim — the cryptocurrency market is filled to the brim with fractals.

Related Reading: Analyst: Bitcoin Price Likely to Fall to Low-$8,000s as Chart Remains Weak

A brief aside: A fractal, in the context of technical analysis and financial markets anyway, is when an asset’s price action is seen during a different time. This form of analysis isn’t that popular, but it has proven to be somewhat valuable in analyzing Bitcoin.

One recent fractal popularized by a well-known cryptocurrency trader is implying that BTC is going to return to the low-$7,000s in the coming days.

Bitcoin Fractal Implies Retracement to Low-$7,000s

A well-known crypto trader going by “Tyler Durden” on Twitter recently posted the chart below, which shows that a Bitcoin price fractal may be playing out. The fractal has four phases: horizontal consolidation marked by one fakeout, a surge above the consolidation phase, a distribution, then a strong drop to fresh lows.

If the fractal plays out in full, BTC could reach the low-$7,000s again, potentially as low as $7,100. This would represent a 20-odd percent collapse from the current price point of $8,800.

It isn’t only a fractal that is hinting Bitcoin has the potential to visit its lows. As we reported on Saturday, Bloomberg believes that if the GTI Vera Convergence Divergence Indicator flips red, a downtrend could push the cryptocurrency back to $7,300.

Related Reading: Stephen Colbert Pokes Fun at Bitcoin in Monologue: Mainstream Gone Wrong?

Can Bulls Step In?

But again, many believe it is irrational to have such bearish interpretations of the cryptocurrency’s chart at the moment. As reported by NewsBTC earlier, Popular crypto trader Mayne recently noted that the “people waiting for $6,000” are irrational. He quipped that Bitcoin retracing and consolidating after its fourth-biggest bull move in history ($7,300 to $10,500, a 42% gain) is perfectly par for the course, but noted that it’s totally possible we can go lower from $8,800.

The medium-term technicals support this.

Trader and CoinTelegraph contributor FilbFilb found that by the end of November or start of December, the 50-week and 100-week moving averages will see a “golden cross,” which he claims is far more significant” for the Bitcoin market that other technical crosses.

Also, a Bitcoin price model created using Facebook Prophet machine learning found that the leading cryptocurrency is likely to end the year at just over $12,000. What’s notable about this model is that it called the price drop to $8,000 months in advance, and forecasted a ~$7,500 price bottom for BTC.

To put a cherry on the cryptocurrency cake, Crypto Thies observed that when Bitcoin bottomed at $7,300, it bounced decisively off the 0.618 Fibonacci Retracement of the move from $3,000 to $14,000, which correlates with the two-week volume-weighted moving average. He added that summer 2019’s consolidation was marked by Bitcoin flipping major resistances into support levels, implying that a bullish reversal and subsequent continuation is likely possible in the coming weeks.

Featured Image from Shutterstock


Nick Chong , 2019-11-10 12:00:38

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