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Nov 13, 2019 at 08:05 // News

Blockchain in football

European football including Italian clubs, goes online with the cryptocurrency and blockchain technology. For many of the top clubs the development of the possibilities offered by cryptocurrency is a key step to increase turnover.


The last to hook on to the wagon is Bayern Munich in Germany, as Coinidol.com, world news outlet, reported. The club has signed an agreement with Stryking Entertainment for the production of the digital collectibles of its players, or playing cards that reproduce the athletes on a reduced scale, even those that have contributed to the size of the German club.


Growth in the Adoption of Cryptocurrency


With digital cards, fans will be able to compete in virtual competitions, with the statistics of athletes that will vary according to their form.


Meanwhile another European football totem like Benfica has begun to accept payments from the sponsors to tokens and for a Champions League match between the Portuguese and the September Leipzig tickets were available for the fans on the UTRUST platform, which works with the cryptocurrencies.


And before Bayern signed also Juventus and Roma, with regard to the Serie A, in addition to Manchester City and Watford for the Premier League and Atletico Madrid, for the Spanish championship.


Since the beginning of 2019, the Juventus club has launched, in partnership with Socios.com, based on blockchain technology, at the base of bitcoin, Juventus Official Fan Token, the Juventus fan’s token, which can be purchased and then exchanged by users to encourage the participation of its global fan base, around 340 million of which 60 on official social profiles.


Bitcoin in Sports


Also, the Giallorossi company has landed on Socios.com since August, with a custom cryptocurrency, CHZ, located on CoinMarketCap, for the price of €2.


But in addition to the ball, other sports have also winked at cryptocurrencies. In F.1, Red Bull-Honda presented the FuturoCoin logo in the current championship, a brand that stands out in the racing suits of riders and also franchises of American sport, both in the NBA and in the NFL.


In the NBA there is an extreme case, or Spencer Dinwiddie of the Brooklyn Nets, who has been discussing for weeks with the League for the will to securitize his $34 million contract, offering investors a tokenized contract: for his immediate financing between the $5 and $13.5 million (minimum expenditure, $150K), for those who focus on him the possibility, through a security token linked to his sports performance, to recover from the investment with a profit margin in the coming seasons.

coinidol.com By Coin Idol , 2019-11-13 08:05:00 ,

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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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