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Chainlink’s LINK Token Trading Volume Eclipses Bitcoin, Up 700% YTD

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Source: https://cryptobriefing.com/chainlinks-link-token-trading-volume-eclipses-bitcoin-700-ytd/

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Bitcoin Technical Analysis: BTC Retreat Imminent After Hitting Barrier At $10,800

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  • Bitcoins bullish momentum loses steam on encountering the 50-day EMA resistance.
  • Declines linger as long as BTC cannot climb above the 50% Fibonacci level.

Bitcoin explored levels in the key support range between $10,000 and $10,200 earlier this week. The last few days have been used by the bulls to correct the retracement from the resistance at $11,200. Initially a hurdle at $10,600 sent buyers back to the drawing board. However, Bitcoin sprung upwards once again on Thursday. This time the hurdle at $10,600 was easily pushed into the rearview. Unfortunately, bulls seem to be struggling with the resistance at the 50% Fibonacci taken between the last swing high of $12,484 and a swing low of $9,050.

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The Relative Strength Index (RSI) has recovered from levels closer to the oversold but is holding ground at the midline. A sideways movement suggests that bulls are getting exhausted. It is essential that the resistance at $10,788, a confluence formed by the 50-day Exponential Moving Average (EMA) and the 50% Fibonacci level is overcome.

Read also: Bitcoin Price Prediction: BTC Upward Momentum Stalls Under $10,600 But Bulls Eye $11,000

BTC/USD daily chart

BTC/USD price chart
BTC/USD price chart by Tradingview

The movement to the north will give the flagship cryptocurrency energy to bring down the resistance at $10,800. Buyers will also get an opportunity to shift their focus to $11,000 and $11,200, respectively.

It is worth mentioning that the failure to rise above the immediate resistance at the confluence could culminate in Bitcoin settling for a retreat in order to create demand at lower levels. On the downside, support is envisaged at the 100-day EMA. If declines overshoot this zone, the support range at the beginning of the week will come in handy. Note that, September’s primary support at $9,800 remains intact and the last resort that could be used to halt declines eyeing $9,500 and $9,000.

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Bitcoin Intraday Levels

Spot rate: $10,706

Percentage change: -0.32%

Relative change: -0.34

Trend: Short term bearish bias

Volatility: Low

Read more: Four Things to Know About Purchasing Bitcoin Safely


To get the daily price analysis, Follow us on TradingView

Author: John Isige




John is a talented writer with over two years of experience actively contributing to the cryptocurrency industry by providing credible, interesting and easy to read the content. His main focus is on cryptocurrency price analysis and industry news coverage. Lets follow him on Twitter at @jjisige

Source: https://coingape.com/bitcoin-technical-analysis-btc-retreat-imminent-after-hitting-barrier-at-10800/

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Coronavirus vaccination in Brazil to be monitored using blockchain

Brazil planning to issue coronavirus vaccines starting January 2021 Blockchain technology will be used to trace the vaccination Brazil eyeing China’s CoronaVac Brazil is dispensing coronavirus vaccination nationwide, and the plan is to leverage blockchain to monitor the progress. A new YouTube webinar shared by Brazil’s Ministry of Justice and Public Security engaged in talks […]

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  • Brazil planning to issue coronavirus vaccines starting January 2021
  • Blockchain technology will be used to trace the vaccination
  • Brazil eyeing China’s CoronaVac

Brazil is dispensing coronavirus vaccination nationwide, and the plan is to leverage blockchain to monitor the progress. A new YouTube webinar shared by Brazil’s Ministry of Justice and Public Security engaged in talks regarding the value of blockchain technology in various areas.

During the discussions, talks on the influence blockchain technology have had in tracking the novel coronavirus pandemic emerged. On September 9, Brazil’s health minister reportedly announced that COVID-19 vaccinations would commence January next year. The South American country is now planning to utilize the National Health Data Network (RNDS), which is based on the blockchain during the exercise. 

Coronavirus vaccination to start in January

The blockchain system, created using Hyperledger’s Fabric blockchain structure, will keep an eye on anybody who has been vaccinated. According to Raposo Oliveira, the coordinator of system developments in Brazil’s Ministry of Health, the coronavirus vaccine is within the blockchain system. It will assist in tracking whoever takes a vaccine.

After each coronavirus vaccination, the blockchain system will get information regarding who got the vaccine. Afterward, the system will record the data on the blockchain. According to Oliviera, the blockchain system’s goal is to boost information exchange within the Health Care Network, enabling progressive care in both the public and private health sectors.

Furthermore, the RNDS system allegedly enables more significant cases and vaccination tracing, efficient data management, and clarity. Moreover, apart from monitoring coronavirus vaccinations, the system also contains other patients’medical history patients, including the diagnosis and medications.

The fight against coronavirus

Brazil is adapting to a coronavirus vaccine created as a partnership between the British Pharmaceutical firm, AstraZeneca, and Oxford University. The vaccine is called the Oxford Vaccine. Furthermore, Brazil is watching a vaccine from China dubbed CoronaVac. Notably, the vaccination was developed as a vaccination partnership between two nations. 

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Mandatory KYC verification may contradict privacy laws in South Korea

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With the South Korean government preparing to implement know-your-customer (KYC) and anti-money laundering (AML) compliance processes, there is confusion among legal experts as to whether the requirements contradict other laws.

According to Digital Today, the new requirements would contravene the existing Personal Information Protection Act, which stipulates that local companies cannot legally request social security numbers.

The measure also cover financial institutions, however they can request it under exceptional circumstances, such as for major banking transactions.

The Enforcement Decree of the Special Payment Act is expected to come into force in March 2021 and will require “virtual asset services providers” to confirm the real names of customers by verifying them against personal data such as social security numbers.

One special note made by the Financial Information Analysis Institute addressed the current situation of the ambiguity in the upcoming AML-KYC bill on crypto exchanges. It argued that because an exchange is hosted purely on the internet it is not just a financial institution but is more like a “mail-order seller like an internet shopping mall.”

“It does not mean that virtual asset operators are given the status of financial business operators or incorporated into institutional financial companies through the enforcement of the revised special money law.”

Local legal experts specializing in the crypto industry stated that due to the ambiguity of the upcoming new AML-KYC compliance measures, “there is still a long way to go, even if such content is included in the Virtual Asset Business Rights Act.”

The crypto bill, to be implemented in March next year as well, calls for existing crypto exchanges to meet requirements for a real-name account and ISMS authentication and report their operations within six months after the law’s implementation.

However, legal experts believe that the issue should be discussed as soon as possible by clarifying the status of the crypto exchanges within the upcoming AML-KYC new measures and if legal exemptions could be applied to the crypto exchanges in terms of asking for social security numbers.

Source: https://cointelegraph.com/news/mandatory-kyc-verification-may-contradict-privacy-laws-in-south-korea

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