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Blockchain Meets Healthcare with “HealthChainHack”

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BlockTEST Announces Hackathon, Collaboration Across Technology and Healthcare Industries

CAMBRIDGE, MA: BlockTEST, a blockchain services startup founded on the MIT campus, announced that they will be hosting the upcoming hackathon, HealthChainHack. HealthChainHack is a virtual blockchain hackathon aiming to translate academic research into pharmaceutical advancement by bringing together coders and key healthcare players worldwide for a two-month coding camp. HealthChainHack will kick off at the close of Unblock the Blockchain, a one-day blockchain and healthcare summit on September 22nd, 2018, and run until winners are announced on November 17th
,
2018. Participants are challenged to develop a blockchain platform prototype to address an actual use case in the healthcare industry. Solutions developed through HealthChainHack are hoped to become the first proven-of-concept blockchain projects to be implemented at scale in the healthcare industry. HealthChainHack’s total prize pool, to be awarded at various points over HealthChainHack’s two-month timeline, adds up to over $262,000. Google, a confirmed sponsor for the event, has committed $100,000 in cloud credits as a prize for hackathon winners, plus $3,000 in cloud credits awarded to the first 50 qualified submissions. Additional prizes include access to Google Cloud’s startup program and three months free startup incubation at Cambridge’s Z-Park Innovation Center. Hackathon winners will be chosen through the combined assessments of an advisory judging panel and an objective evaluation by BlockTEST’s patented testnet.

In part, HealthChainHack will serve as the unveiling of said testnet, which BlockTEST developed to provide quantitative analysis on blockchain projects. Users will submit their code to the testnet, and receive in return evaluations on their blockchain solution, displayed upon a matrix of measures, such as performance, security, privacy, and consensus mechanisms. BlockTEST will further provide mentors, webinars, and demos over the course of HealthChainHack to guide participants through the competition.

Sponsors for HealthChainHack, including Google, XtalPi, NEO and Oasis Labs, have committed over $300,000 to the event. BlockTEST co-founder Jennifer Jiang said, “HealthChainHack is an incredible opportunity to link an international network of blockchain developers with high-profile academia, mentors, sponsors, investors, and employers with first-hand insights into industry needs. Through HealthChainHack, we hope to provide a prototype structure for a future global blockchain ecosystem that connects the key players in the drug R&D value chain, to facilitate a holistic, integrative and
traceable data sharing system, and ultimately to expedite pharmaceutical discovery and development.”

About BlockTEST, LLC: BlockTEST is a technical due diligence company for the world’s blockchain technologies. At BlockTEST, we collect and analyze blockchain data so that you can have the information you need at your fingertips. Using our intelligent testnet, we demystify complex blockchain projects and present timely information with strategic insights to solve problems and unlock new opportunities. We are obsessively passionate about blockchain technology, and our mission is to empower people to adopt it with ease.

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Source: https://blockchainhealthcarereview.com/blockchain-meets-healthcare-with-healthchainhack/

Blockchain

Market Analysis Report (23 Oct 2020)

PayPal Reportedly In Talks to Buy BitGo, Other Crypto Firms | 98% of Unspent Bitcoin Transaction Outputs Currently in a State of Profit | Paxful Repelled 220,000 Bot Attacks in Two Months

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98% of Bitcoin’s unspent transaction outputs (UTXOs) are currently in a state of profit, a level that hasn’t been seen since December 2017, when the price of bitcoin hit its all-time high close to $20,000.

Data shows high levels of bitcoin unspent transaction outputs in a state of profit were typical in previous BTC bull markets, which could indicate a local top is near. The last time BTC’s UTXOs were above 90% was in July 2019, when the price of BTC hit a $13,900 top before a sell-off saw it drop to $7,500 by October of that year.

An unspent transaction output, it’s worth noting, refers to bitcoin remaining after a cryptocurrency transaction was executed, similar to the change received after conducting a cash transaction at a store.

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Bitcoin Increases But Struggles to Sustain Prices Above $13,000

On Oct 23, Bitcoin (BTC) continued the upward move which had accelerated on Oct 19. While the long-term trend is likely bullish, a short-term drop could occur before the price resumes its upward movement. Bitcoin Continues Ascent On Oct 23, Bitcoin continued its upward movement by creating another bullish candlestick that was slightly smaller than […]

The post Bitcoin Increases But Struggles to Sustain Prices Above $13,000 appeared first on BeInCrypto.

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On Oct 23, Bitcoin (BTC) continued the upward move which had accelerated on Oct 19.

While the long-term trend is likely bullish, a short-term drop could occur before the price resumes its upward movement.

Bitcoin Continues Ascent

On Oct 23, Bitcoin continued its upward movement by creating another bullish candlestick that was slightly smaller than the candle that preceding it. Furthermore, yesterday’s wick-high of $13,208 was lower than that of Oct 22, which reached $13,235.

Despite this development, there is no visible weakness in the daily time-frame. The MACD, RSI, and Stochastic oscillator are increasing and there is no bearish divergence present.

Bitcoin Daily MovementBitcoin Daily Movement
BTC Chart By TradingView

Short-Term Double-Top

The short-term chart for BTC does show some signs of weakness, however. On Oct 21, BTC created a shooting star candlestick (blue arrow in the image below), which was the first bearish sign during the upward move.

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Yesterday, the increase that failed to reach the previous high was combined with significant bearish divergence in both the RSI and the MACD, the latter of which has almost crossed into negative.

BTC Short-Term Double TopBTC Short-Term Double Top
BTC Chart By TradingView

Possible Retracement

The Oct 21 high might have marked the top of the third sub-wave (shown in blue below), which is a part of a larger third wave (orange).

Considering the short-term bearish implications from the previous section, a retracement is expected. Even though there are no clear support levels below the current price, we can use Fib retracement levels to determine where the retracement will most likely end.

The price could drop to the 0.382 Fib level of sub-wave 3 at $12,125. The reason for this shallow retracement is a counter to the deep retracement of sub-wave 2, which went all the way down below the 0.618 Fib level. Because of the concept of alternation, we would expect to see the opposite in sub-wave 4.

BTC Wave CountBTC Wave Count
BTC Chart By TradingView

To conclude, while it is likely that BTC is bullish in the longer-term and will move higher, a short-term retracement is expected before the price resumes its upward movement.

For BeInCrypto’s previous Bitcoin analysis, click here!

Disclaimer: Cryptocurrency trading carries a high level of risk and may not be suitable for all investors. The views expressed in this article do not reflect those of BeInCrypto.

Source: https://beincrypto.com/bitcoin-increases-but-struggles-to-sustain-prices-above-13000/

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The Best Place to Short Bitcoin is Above $14K, Analyst Explains Why

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Bitcoin bulls will enjoy domination over the market until its price breaches the $14,000-mark, according to Eugene Loza of EXCAVO.

The independent market analyst wrote in his note to investors that he expects to see traders with more exposure in Long trades than the Short ones. He signified his prediction with a technical structure. It envisioned BTC/USD inside an Ascending Channel pattern, inching upward as it awaits to test a sequence of Fibonacci resistance and support levels.

Bitcoin, BTCUSD, XBTUSD, BTCUSDT, cryptocurrency

Bitcoin trade setup, as presented by Eugene Loza. Source: BTCUSD on TradingView.com

The smaller Fibonacci retracement graph in the chart above expired at $12,283 after Bitcoin breached the level on Wednesday. Simultaneously, the cryptocurrency closed in towards the 61.8% level – at $13,037 – of the bigger Fib setup, awaiting a breakout move to the upside.

An $11K Bitcoin Possible

Mr. Loza supported the outlook of an extended bullish move, noting that $13,037 is “not the best place for a short [position].” He added that those who are still trading against Bitcoin’s upside outlook would risk getting liquidated at around $13,350 at a loss.

That would leave Bitcoin with the possibilities of moving further higher towards the 78.6% level of the big Fib. That is around $15,728.

Mr. Loza said that opening a short position anywhere between $14,000 and $15,728 is a “better” call. The range also lies near the upper trendline of the Ascending Channel pattern.

“Once we take the target, there is a possibility of correction to the middle line of the ascending channel,” Mr. Loza added.

The mid-level is below $11,000.

More Downside Outlooks

Mr. Loza’s statements came amid a period of strong buying enthusiasm for Bitcoin. The cryptocurrency this week gained global recognition after PayPal, the world’s leading payments service company, announced to integrate it in its existing line of products.

Before PayPal, its top rival Square, a firm headed by Twitter CEO Jack Dorsey, had shown $50 million worth of BTC in its balance sheets. Another recognized corporation, MicroStrategy, also reallocated $425 million of its cash reserve to Bitcoin, citing its fears of US dollar devaluation amid rising M2 and ultralow interest rates.

Traders assessed the sequence of events as validation of Bitcoin’s growth among prominent firms, both as a service and a financial asset. As a result, the Long positions on BTC/USD jumped dramatically higher than the Short ones, validating that the majority believes Bitcoin is underpriced at current rates.

Michaël van de Poppe, another independent market analyst, showed caution towards overly bullish statements. He said Bitcoin should hold the $12,750-12,800 range to sustain its upside bias. Otherwise, the cryptocurrency risks plunging “towards $12,200 and potentially $11,900.”

Bitcoin, BTCUSD, XBTUSD, BTCUSDT, cryptocurrency

Bitcoin trade setup, as presented by Michaël van de Poppe. Source: BTCUSD on TradingView.com

Mr. Poppe’s medium-term outlook, at the same time, projected an upside continuation towards $14,000. He nevertheless reiterated that “the area between $11,200-11,700” would serve as support.

“In the worst-case scenario around $10,000, but everything is clear and good here,” he added. “Breaking $13,600 area and I think $16,000 is next.”

That somewhat rhymed with Mr. Loza’s prediction of the cryptocurrency.

Source: https://bitcoinist.com/the-best-place-to-short-bitcoin-is-above-14k-analyst-explains-why/?utm_source=rss&utm_medium=rss&utm_campaign=the-best-place-to-short-bitcoin-is-above-14k-analyst-explains-why

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