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South Korea’s largest telecoms provider, KT Corporation, is boosting a partnership with China Mobile targeting blockchain technology and 5G roaming.

As local English-language news outlet The Korea Herald reported on Dec. 5, KT is preparing to debut 5G roaming capabilities in China later this month. 

KT Corp. eyes B.Link blockchain rollout

At the same time, the companies are working on a blockchain system which will allow them to save time and costs when computing roaming charges for mobile users. 

According to The Korea Herald, the B.Link system is able to “self-analyze roaming data from the two carriers and can process roaming charges on a real-time basis.”

The news comes around six months after KT revealed it had built a blockchain network of its own. KT Network Blockchain similarly targets roaming, along with other use cases such as user identification.

That announcement in turn followed KT’s Blockchain-as-a-Service, or BaaS, which aims to ease access to the technology for South Korean firms. 

Telecoms embraces blockchain potential

As Cointelegraph reported, both South Korea and China have thrown their weight behind blockchain technology, the latter making it part of formal state policy in a widely-reported publicity campaign last month. 

Enthusiasm is also palpable in South Korea, with technology giant Kakao Corporation describing its Klaytn blockchain offering as being more advanced than Facebook’s Libra project in recent comments.

For the telecoms industry specifically, blockchain meanwhile should bring $1 billion of added value by 2023, according to a study published last year.

Cointelegraph By William Suberg , 2019-12-05 11:04:00 ,

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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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