Cryptocurrency prices were on the rise this past week and we’ve done some analysis to help you make sense of the movement. Amidst this volatility, we saw Stronghold announce a partnership with IBM to launch a new stablecoin on Stellar’s network that is FDIC insured, a first in the space.
As the market matures, blockchain research and development is picking up steam in major universities, driving innovation for the future health of the industry. Speaking of education, congress got serious about understanding this week, holding two full hearings to discuss the technology and how best to understand and make use of it.
In some less savory news, cryptomining malware continues to grow as a popular and profitable way for hackers to make use of your computing resources, but we have some help for you.
Featured stories by Nadav Avital, Colin Harper, Andrew Rossow and Bitcoin Schmitcoin.
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Bitcoin Price Analysis: Head-and-Shoulders Reversal Pushes New Highs[2]
Previously, Schmitcoin had discussed the strong possibility for a retest of the low volume spring, noted that the market was beginning the early stages of an inverted head-and-shoulders (H/S) reversal (sometimes called a head-and-shoulders bottom). A couple days ago, shortly after testing the left shoulder of the head-and-shoulders reversal (H/S), the market reacted strongly and bitcoin’s price jumped several hundred dollars.
Both the candle spread and volume were quite high over the daily candles that set the stage for this jump. High volume and large spread following a low volume spring hint toward a potential accumulation characteristic called a “Jump Across the Creek” (JAC). In a trading-range sense, the whole purpose of an accumulation trading range (TR) is to shake out
