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To support our international expansion and global reach, Cointelegraph is delighted to announce the launch of the Chinese-language version of the publication. Today, Dec. 4, we celebrated the opening of the office of Cointelegraph China (Cointelegraph 中文).

The news — which marks another milestone moment in Cointelegraph’s growth — was announced at the Nova Global Blockchain Investment Institutions Summit hosted by the investment ecosystem alliance, Nova Club. Nova Club was formed by top blockchain organizations and aims to facilitate blockchain project development by consolidating resources and expertise.

The new expansion will be led by Vadim Krekotin from the heart of Guangzhou, with other offices in Beijing and Shanghai.

Meet the Cointelegraph China business team

Cointelegraph China has brought together leading names in the industry to highlight blockchain and crypto trends in the area. 

Kevin Shao is a co-founder of Cointelegraph China as well as a general manager at crypto mining equipment manufacturer Canaan-Blockchain. Shao’s professional background includes serving at Bank of China’s fintech and technology department.

Kevin Ren, a co-founder of Cointelegraph China and also a founding partner of venture capital firm Consensus Lab, has a double masters in computer science and business administration. Ren, who worked as a partner in a range of VC firms, currently holds managing positions at industry-wide associations and unions in the country.

Simon Li is another co-founder of Cointelegraph China and a founding partner of Chain Capital and Nova Club. Li focuses on mining, investment into blockchain projects, and initiating and managing blockchain investment funds.

Co-founder Vadim Krekotin will manage Cointelegraph China’s initial launch. He previously founded advisory blockchain firm the CBE Foundation. Vadim is fluent in Mandarin and has a long history of conducting business in China, which has brought him in contact with the country’s biggest industry players including Binance, Huobi, OkEX and many others. 

Stay tuned for editorial team

We will soon be announcing the Cointelegraph China editorial team. Our editorial team will produce the highest quality journalism for our readers in China, holding steadfast to the values of editorial independence and responsibility to our readers.

Cointelegraph China is now our third base in Asia, following the establishment of Cointelegraph Japan in Tokyo in December 2017 and Cointelegraph Korea in August of this year. China has proved itself a hub for blockchain development, with the support of President Xi Jinping and a slew of blockchain-related patents filed with local regulators.

The country is maintaining a hardline stance toward crypto, as cryptocurrency trading is wholly banned in China. Meanwhile, the country has declared plans to issue its own digital currency to compete with the United States dollar in the global market. Our China-based team will work consistently to raise awareness in the region and deliver readers a clear insight into significant industry developments.

Cointelegraph By Cointelegraph , 2019-12-04 21:26:00 ,

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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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