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Developed as an alternative means for monetary value transfer, Bitcoin was designed by its founder, Satoshi Nakamoto, to have blockchain technology as its backbone. Extremely efficient and economical, blockchain’s basic characteristics have allowed it to penetrate nearly every industrial and economic sector in the world.

It is with these aspects of blockchain technology that Apollo brings its holistic cryptocurrency project and mission to the world.

Apollo: All Encompassing

Like the Greek deity, the Apollo platform is designed to be a leader in providing efficient and smart systems for a wide variety of fields. Apollo is more than just a cryptocurrency. It is a complete holistic decentralized ecosystem that caters to a wide variety of needs of a community. Here are just some of the features of the network:

  • 3rd Generation Blockchain: After carefully studying the most famous blockchains, Apollo was designed to incorporate mainstream cryptocurrency features into one ecosystem.
  • Privacy: Leveraging a wide variety of methods to protect one’s ID and assets, such as IP masking, coin shuffling, and mixing, Apollo completely disconnects the user’s traceability.
  • Financial Systems: From a cryptocurrency to building unique tokens that represent real-life assets, coupled with smart contract and Decentralized Autonomous Organization (DAO) capabilities, users can shift their entire financial systems to the blockchain.
  • Democracy: Voting, decentralized data cloud storage, a real-life marketplace, and other services mean that Apollo can offer everything under the sun, and leave the control in users’ hands.

Everything Under Lesotho’s Sun

Photo: Apollo Foundation / Medium

Apollo has signed a Memorandum of Understanding (MoU) with the African nation of Lesotho to develop and shift the country’s infrastructure on blockchain. The MoU was signed with the Ministry of Communications, Science and Technology of Lesotho. Under the agreement, Apollo will help the country develop:

  • Profit maximization and friction reduction in the mineral and exports industry.
  • The use of blockchain technology to create a financial crime-free environment.
  • The use of Apollo’s fintech solutions to create opportunities for resource exploitation.
  • Different governance and control systems.
  • Support and development for other sectors such as education and helping in eliminating poverty and unemployment.

The landlocked nation in South Africa is home to an indigenous population of 2.2 million with vast untapped resources of human skills, minerals, and a diamond industry. The nation also has a huge overseas population that sends money back home through traditional banking remittance. Adoption of blockchain would see Lesotho developing efficient systems in different areas of the country’s infrastructure, from finances to administration. This will help the tiny nation to rapidly develop itself, especially since it has a small resource pool and at the same time, a huge untapped potential that can put the country at the forefront of developed nations.

Director of Business Development for Apollo, Steve McCullah, shared the same sentiment and is convinced that his platform will deliver, saying:

“Lesotho is working to become a leader in technology… We are confident Apollo can help accomplish this mission.”

Apollo’s holistic approach to using blockchain in addressing every conceivable issue and application is the perfect solution to what Lesotho, as a nation, seeks in order to bring about a change in the society and its people.

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Kseniia Klichova , 2019-11-19 10:28:56 ,

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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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