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  • The CEO of EMURGO, Ken Kodama recently sat down with CryptoSlate in a recent interview where he discussed some of the milestones the team have had.
  • As the chief of the subsidiary, Kodama spearheads the overall mission to further the adoption of Cardano.

Following on from an article we did earlier today, the CEO of EMURGO, Ken Kodama recently sat down with CryptoSlate in a recent interview where he discussed some of the milestones the team have had as well as Cardano’s progress in the space.

One of the questions Kodama was asked was on the hardest barriers for adoption ad how Cardano will overcome them.

“Blockchain is still a nascent industry overall with growing mainstream awareness and limited regulatory clarity. This is why EMURGO has joined the Chamber of Digital Commerce & Blockchain For Europe, in order to have sustained dialogue with government-level stakeholders about blockchain-friendly initiatives. Also, we continue to focus heavily on our education units, partnering with local universities in markets such as India & Indonesia, to offer our blockchain education courses to empower local citizens and bring more blockchain proficient talents into the working world. Thus, we are working hard to increase awareness and build a proficient supply of blockchain developers through education.”

As the chief of the Cardano subsidiary, Kodama leads the overall mission to further the adoption of Cardano by building, investing in, and giving advice to projects or organisations that adopt the third-generation the ecosystem. 

Kodama was then asked on the exciting partnership with New Balance trainers in order to track the supply on the blockchain.

“This exciting piece of news came via our Cardano ecosystem partner IOHK. Obviously, this is a good step in the direction towards applying Cardano’s third-generation blockchain towards real use cases including supply chain management with a trusted name brand. EMURGO and its Cardano ecosystem partners continue to engage with interested parties on implementing Cardano’s blockchain-based solutions.”

For more news on this and other crypto updates, keep it with CryptoDaily!

Adrian Barkley , 2019-11-23 13:00:00 ,

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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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