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As on date, a massive amount of data and content is being created and shared every second on the internet. Messaging apps like WhatsApp, Messenger, and Telegram have been the hot mediums to move data. One of the major challenges these companies are facing today is to segregate the right information.

With such massive data available, users are usually overwhelmed with excess data. Now, to enhance the user experience, messaging giant Telegram has come up with a new Data Clustering Contest for its developers. The contest asks developers to build an algorithm which can group identical information and news of similar category and present it to the users. Some of the key points Telegram wants in the algorithm include:

1. Identifying content in English and Russian and discards the rest.
2. Identifying news articles from the result of (1) and discards the rest.
3. Classifies each news piece from the result of (2) into one of these 7 categories: Society, Economy, Technology, Entertainment, Science, Sports and Other.
4. Identifying news pieces about the same event and groups them together into news threads.
5. Sorting news threads based on perceived importance.

Participants of the contest have been given a deadline to submit their solutions to the Telegram team by December 2. The developers providing the best solution will get a price refund of $100,000. Furthermore, they will be automatically admitted to the second stage of the contest wherein they can apply for another price money of $100,000.

Telegram Flexing Muscles for the GRAM Token Launch

There’s a lot of fuss going around the launch of Telegram’s GRAM token after it was flagged as a ‘security’ by the U.S. SEC thereby stopping its launch in October 2019. On the other hand, Telegram claims that it has done nothing unlawful with the sale of its token last year to early-stage institutional investors.

Last week, the messaging giant appealed to the New York Southern District Court to discard all the allegations levied against it. On the other hand, the investors have shown support for Telegram’s GRAM tokens and its underlying TON blockchain network. After the SEC, Telegram asked its investors to take the refund as they currently cannot distribute the tokens. However, instilling trust in Telegram, the developers refused for the refund and said that they are ready to wait until the matter gets resolved with the SEC.

Bhushan Akolkar , 2019-11-20 13:32:57 ,

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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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