6 Blockchain Business Use Cases You Should Know About

The potential of the distributed ledger technology (DLT) — an umbrella term of which blockchain is the most popular kind — is enormous. Businesses can use blockchain to secure data, handle supply management, fight copyfraud, automate processes, and so on.

Blockchain may have a major impact on businesses thanks to its unique capabilities to enable transactions and operations without a single authority and unnecessary intermediaries. Many companies are successfully integrating the DLT.

2017 and 2018 were the years of blockchain business trials, as many traditional companies were testing it for various business processes. Today, this technology is already an indispensable part of many businesses.

In the present article, we will go through the six most popular and successful use cases. For the sake of diversity, we’ll discuss a use case for every major blockchain platform available out there.

  1. Moderna to Use Blockchain for Vaccine Distribution (IBM Blockchain)

IBM Blockchain is one of the most reliable and widely used blockchain platforms aimed at enterprises. It is used in supply chain management, healthcare, banking, media, and other sectors.

At the beginning of March 2021, biotech firm Moderna, whose mRNA-based COVID vaccine has been approved in the US, the UK, and many other countries, said that it would apply DLT and AI in the vaccine distribution.

Blockchain will help the company provide vaccine traceability. This will enable governments and healthcare provides to check the current status of specific batches as they move through the supply chain.

Moderna is already using IBM’s Digital Health Pass, a vaccine and COVID test credentials verification system that also leverages blockchain.

  1. ING, BNP Paribas, Citi, Societe Generale, Shell, Others Use Ethereum for Commodities Trading (Ethereum)

While Ethereum is powering most of the Decentralized Finance (DeFi) space and a great number of DLT crypto assets, the network is used by traditional businesses as well. More than two years ago, a consortium comprising banks and other major companies launched komgo SA, a commodity trading platform that relies on Ethereum.

komgo SA is a platform that speeds up the flow of physical commodity operations. It has two main products: one for KYC (know your customer) processes and another one for digital letters of credit.

ING, one of the key members of komgo SA, is also using Ethereum as part of a payment settlement consortium called Fnality.

Ethereum introduced smart contracts and many other features aimed at enterprises. The Enterprise Ethereum Alliance (EEA) now has over 200 member companies, including JP Morgan, Samsung Group, Mastercard, and Microsoft.

https://media.consensys.net/6-questions-to-ask-when-considering-blockchain-solutions-for-enterprise-10616a0c63c4

  1. SIX Stock Exchange Uses DLT Solutions for Stock Trading, Settlement, and Tokenization (R3’s Corda)

SIX Group, which operates the Swiss Stock Exchange, launched SIX Digital Exchange in 2019, which relies on R3’s Corda Enterprise platform. The blockchain solution is used to run its digital asset trading platform, which operates with tokenized shares. With the help of Corda, the digital exchange is clearing, settling, and providing custody solutions simultaneously.

R3 also runs a consortium that includes many banking giants and other companies testing its Corda platform. Besides the SIX Group, it also includes Barclays, BNP Paribas, Deutsche Bank, HSBC, UBS, and Credit Suisse.

  1. Walmart Uses Blockchain for Food Supply Chain (Hyperledger Fabric)

Retail giant Walmart has been using DLT solutions for its food supply chain management. For example, it relies on Hyperledger Fabric’s blockchain infrastructure to trace the origin of over 25 food products from five different suppliers. Initially, Walmart tested the system with its partner IBM. During the trial, the retailer traced mangos sold in the US stores and pork sold in its China stores.

https://www.hyperledger.org/learn/publications/walmart-case-study

Blockchain is very popular in supply chain management, as it helps businesses monitor and trace the products conveniently.

Hyperledger is hosted by Linux Foundation and is one of the oldest open-source blockchain efforts. It manages a consortium comprising over 180 companies.

  1. Italian Copyright Collection Agency SIAE Uses NFTs to Manage Authors’ Rights (Algorand)

Some of the most interesting DLT use cases relate to non-fungible tokens (NFTs), which are booming right now. SIAE (Società Italiana degli Autori ed Editori), Italy’s most dominant copyright collecting agency, uses Algorand’s blockchain to create NFTs representing the rights of authors who are members of the organization. In this way, it aims to fight copyfraud and other forms of copyright infringement as well as help authors monetize their work.

SIAE, which was founded more than 130 years ago, has over 95,000 member authors, most of whom are composers, music authors, book authors, and publishers.

In mid-March, SIAE issued more than 4 million NFTs representing the rights of its member authors. The agency picked Algorand as the main blockchain infrastructure for its databases of millions of authors’ rights. While NFTs are surging in popularity thanks to crypto art, SIAE has been collaborating with Algorand since 2019 for the project.

  1. Fundraising Platform Republic Uses Blockchain-Based Authorization and Authentication System (AIKON)

Blockchain business applications are still quite sophisticated, as most companies don’t focus on user experience, which hinders the technology’s wider adoption. To solve this, AIKON’s ORE ID is helping businesses developing blockchain applications onboard their existing client base through a familiar process.

Fundraising platform Republic, which helps startups secure capital from institutional and individual investors, is using ORE ID to onboard its non-technical retail investors to its blockchain application that revolves around Republic Note — a proprietary profit-sharing digital security token. On a side note, Republic is building its blockchain application on Algorand, but it uses AIKON’s authentication platform for the onboarding process and identity management.

ORE ID is a blockchain authentication system that helps users access blockchain applications by email, phone, or social media accounts.

Republic relies on AIKON’s passwordless authentication solution to enable users who are not tech-savvy to access blockchain DApps in one click.

The Final Note

Some notable mentions of major enterprise-oriented blockchain platforms that were not discussed in the article are Ripple, EOS, and JPMorgan’s Quora, which is a version of Ethereum.

In conclusion, blockchain, along with artificial intelligence (AI), the Internet of Things (IoT), augmented reality, and cloud, is spurring the fourth industrial revolution, which revolves around speed, automation, cyber-physical systems, decentralization, and many things with the smart prefix.

Blockchain is about to transform businesses the same way the Internet did. In a few years, the technology will be omnipresent.

Traditional Investors Cannot Ignore the DeFi Trend. Here’s Why.

Ever since John Maynard Keynes laid the foundation for modern financial markets, investors have primarily held positions in stocks, bonds, and cash. Modern economic history has examples of traditional investors who made it big by investing in regular asset classes.

But the primary problem associated with these fiat-based investments and financial models is their inherent centralization, which has led to high inequality in the distribution of wealth, and profits. You may have had to make do with the short end of the stick—fortunately, Bitcoin decentralized currency settlements. However, the DeFi (decentralized finance) market addressed the gnawing disparity in financial market democratization with smart-contract-based financial instruments. Now, one can lend, borrow, invest and trade in an algorithm-based open market that runs without intermediaries.

The DeFi market has reduced accessibility barriers for various financial tools and has experienced exponential growth over the past year. What? You didn’t know? Well, maybe it’s time.

2020: The Growth of the DeFi Market

The DeFi trend essentially began with Ethereum-based protocols — Synthetix and MakerDAO. What these decentralized derivatives and lending projects started has now transformed into an ecosystem with close to a $50-billion valuation.

Yes! That’s correct, and the above graph is a testimony of the same.

However, it wasn’t all that flowery in the beginning. The phase from 2017 to Q1 2020 was pretty slow in growth. The DeFi market took off in earnest only from June last year and has not looked back. You would wonder what spurred this massive growth of a seemingly nascent space.

Well, COVID-19 happened, and along with it occurred a 2008-like financial catastrophe (more enormous in proportion, to be precise) that took down traditional markets, businesses, and economies of entire nations.

At a time when people saw the value of their earnings and savings in bank accounts depreciate incessantly, the burgeoning DeFi space provided limitless opportunities to leverage a variety of open-source programmable financial protocols to make a lot of money. The video below will explain how.

Whether leveraging DeFi/decentralized exchanges (DEXs) to stake tokens in various yield farming or liquidity mining contracts, flash loans or lending crypto to earn interest, DeFi is an instant global portal for investors to erase the losses incurred from participating in traditional markets. 

Still wondering why? The entry barrier is way too low, and one doesn’t need to have a tonne of cash to get started. Thanks to the meticulously programmed smart contracts in protocols like Compound Finance, Balancer, Aave, etc., all transactions happen in real-time without third-party interference.

By now, you must have started getting second thoughts about staying invested in traditional markets. If not, here’s something that will force you to consider your options.

DeFi Market Outlook for 2021

Even with bitcoin price surpassing its previous all-time high, 2020 was arguably the year of DeFi. Massive adoption of decentralized apps (dApps) for accessing various cryptocurrency-based financial markets points out that the future potential for DeFi is extremely promising, and this is just the beginning.

2021 is shaping up to be the year in which the decentralized finance trend will snowball into something much more significant and transform the world of finance as we know it today.

Scaling Solutions and Network Bridges Will Fine Tune DeFi for Mass Adoption

Currently, the network is undergoing an upgrade phase to Ethereum 2.0. Upon the complete shift from Proof-of-Work (PoW) consensus mechanism to Proof-of-Stake, Ethereum’s throughput and security will shoot up, and massive, full-fledged adoption will happen in no time.

Until then, Layer 2 solutions will help transfer the dApp load from the main Ethereum chain to numerous auxiliary chains that are fast and inexpensive to operate. This will happen via rollups.

Rollups are a kind of Layer 2 solution that allows bundling of transactions off-chain. These bundled transactions can then be submitted to the leading Ethereum network in batches, enabling it to scale 200 times more transactions than before, essentially benefiting DeFi market participants.

Apart from Rollups, it will also be possible to scale Ethereum through multiple and technically sustainable blockchain bridges. Through bridges, DeFi users would have the option of accessing liquidity across multiple blockchain networks along with their functionalities.

The NFT Boom Is Here to Stay

The idea surrounding tokenization of unique artworks, video moments, or photographs, or for that matter, any real-world item, has quickly found its way into mainstream media, creative, and sports circles.

NFTs will only keep gaining more popularity as they facilitate the proof of authenticity and ownership of digital art, in-game items, and other digital collectibles. NFT marketplaces will flourish left, right and center as they enable people to buy and sell all kinds of unique digital tokens using ETH (Ethereum’s native cryptocurrency), BNBand stablecoins.

The NFT market has already shot past $500 million, and the day isn’t far when the figure will touch $1 billion. Just so you know, the DeFi market has already crossed paths with NFTs with NFTfi and Rocket, NFTs can now be used as collateral for peer-to-peer loans. This will enable NFT holders to treat their digital collectibles like any other monetized asset. Indeed this isn’t possible in the world of traditional finance.

It is said that ignorance is bliss, but after reading all of the above, blissful ignorance of the opportunity that the DeFi market is offering will surely not help you win as an investor since it is just not some other market. DeFi has set in motion the fundamental restructuring process of finance itself. It is not a good idea to ignore a good revolution. Even if the risk is high, the rewards are much higher.

There are some great tools and platforms that you can leverage to get involved. One such tool is a DeFi wallet. Options are myriad. However, only a few can allow you to explore the entire world of DeFi. Eidoo is a DeFi wallet that doubles up as an excellent crypto asset management platform.

Also, pNetwork’s native token $PNT is well-integrated within the Eidoo ecosystem. It can be said the token is at the core of the Eidoo-pNetwork integration. $PNT provides access to various services, such as the eidooCARD, its cashback program, and the Atomic Swap feature.

As for Eidoo wallet, it boasts of numerous features such as:

  1. EidooID
  2. Instant SEPA on and off-ramp for fiat
  3. Access to a Decentralized Exchange
  4. Over 1000 supported tokens
  5. Access to the Visa-backed debit card — eidooCARD
  6. Yield farming opportunities
  7. An in-built NFT manager

Only a few past events have brought radical and irreversible changes in our lives. The birth of the Internet, cellphone, fintech, e-commerce, social media were some of them. People who got involved early (per the curve below) have found themselves on a green, pasture-laden side of their life.

The inception of the DeFi market is one such watershed event that demands mass participation for the sake of freeing up finance itself for those who are left out by so-called systems built by centralized institutions. If you are looking to be a part of an actual financial inclusion movement indeed, DeFi is your best bet.

Are you ready to participate?

Just starting out in Crypto and confused about all the crypto wallet jargon?

Let us explain all the terms you need to understand.

Getting into the cryptocurrency world means that you need to understand the industry background and some of the basic technical terms and concepts. So, before you get whisked away by this interesting and thrilling space, pin down the “need-to-knows” and jargon. This is recommended, especially if you start investing and taking your hard-earned fiat and using it in the crypto sphere.

A brief background

So, let’s sum this up. The origins of cryptocurrency go back as far as 1998 and a computer scientist named Nick Szabo who developed Bit gold but, the actual creation of a viable cryptocurrency was ten years later in 2008, by Satoshi Nakamoto, whose whitepaper outlined how a linear, time-stamped network could fuel a cryptocurrency called Bitcoin.

Thus, the coin/currency/token/digital asset (these terms are interchangeable) is stored on the chain — a distributed ledger. The main feature of true cryptocurrency is that there is no central control over the currency, unlike banks or governments. You do, however, get centralized cryptocurrencies where there is a measure of control exerted. Check out this list of centralized and decentralized crypto. The blockchain and cryptocurrency industry’s overall sentiment and purpose are to be a democratic alternative to traditional currency.

The crypto culture

As you dabble and delve into crypto, you will become very aware that there is a strong community backing this new industry. The community has a powerful ethos and purpose related to individual control of their financial destiny and provides financial access to users that may not qualify for traditional financial services.

Decentralized blockchain networks are chains of validation nodes. These nodes are basically stakeholders that verify transactions. There is no central authority, and the system is set up based on parameters determined by the code upon which the blockchain operates. Several blockchains exist, and they have their own currencies — for example, the Ethereum blockchain fuels the ETH cryptocurrency.

It is worth noting the players involved in the cryptocurrency culture or even subculture.

Unjumbling crypto wallet jargon

Understanding the background, how the tech was built, and who continues to maintain, participate in, grow and invest in the blockchain and cryptosystem should give you an idea of where or how you want to fit in. So whether you aim to mine crypto with the view to becoming a venture capitalist that supports and funds exciting and innovative projects or if you want to simply trade crypto or perhaps yield farm, everyone has to start in the same place — getting a crypto wallet. Without a crypto wallet, no transactions can be made.

And that is where this list will begin. It will have a dual purpose in that it will offer an explanation for terms and sequentially transport you along your journey for entering the crypto sphere.

1.      Decide on a wallet

●        Hardware and software wallets

Hardware wallets are physical storage devices like an advanced USB that stores your currency. A software wallet is basically like online banking. To access your crypto, which can also be called digital assets, you need to provide the private keys which open access to your currency and give you the ability to transact.

●        Custodial and non-custodial wallets

A custodial wallet is usually run by a central or semi-centralized blockchain, just like a traditional bank. A centralized wallet stores your private key and provides backup and security for your crypto. For some starting in crypto, this can be reassuring.

Non-custodial wallets are software wallets to which you are the only one that has the keys to access the data. No one but yourself has custody of this information, so if you lose the private key information, there is no way to recover the wallet’s assets.

A non-custodial wallet can be referred to as a Decentralised Finance or DeFi wallet. This is true decentralization of financial power and responsibility.

One of the best Defi wallets on the market is the Eidoo wallet, which gives you access to a full DeFi ecosystem through their DeFi wallet app, which also integrates a DeFi Visa Crypto Card or the eidooCARD.

●        Public and private keys

In case you hadn’t realized as yet, keys are special passwords that are cryptographic. There is a public key that is matched with a private key. Whatever is encrypted with a public key can only be decrypted by the private key. When signing up for the wallet of your choice, you will be guided through the process of securing your keys. It is essential to keep the private key somewhere safe.

●        KYC — Know Your Customer

The blockchain and crypto community, as you know now, are driven by decentralization, protecting privacy, and, to some extent, anonymity. For the most part, the community prefers anonymity, but crypto users, when utilizing a crypto wallet, need to verify their identity when interacting with Fiat, for regulatory purposes. The process of verifying your identity is called KYC and is aimed at curbing illegal financial acts like money laundering, tax fraud and financing terrorism or illegal activities.

2.      Buy and trade some crypto

●        Transaction fees

Once you have your wallet, you will be able to buy the cryptocurrency of your choice using fiat. Fiat currency is normal traditional money — the currency of where you live. Any transactions conducted have a fee associated with them just as a normal bank but crypto fees are called gas fees. The Gas price is the amount you pay for every unit of gas just like the cost for a liter of petrol for your car.

These fees enable and power the transactions and are usually paid for in the form of a utility token depending on the blockchain — more about that below under tokens.

Different types of transactions require differing amounts of gas depending on the degree of computational difficulty.  Also, the term gas limit refers to how much you are willing to spend on a specific transaction, if you don’t specify enough gas the transaction can’t be completed and will fail but because work has been done on the transaction the gas you did specify won’t be re-imbursed.

●        Exchange

Usually, you will buy or rather exchange your fiat on a crypto exchange. There are several different exchanges — they are the marketplaces where trading currencies happen almost like a stock exchange or changing your Euros into another currency on the forex exchange. It should be noted that there are centralized and decentralized exchanges, and as in the case of the wallets, the former has a central body that controls it. Simultaneously, the latter is distributed to nodes that uphold a central smart contract, which underpins all exchange operations and has been agreed upon by all stakeholders.

●        Types of crypto

There are so many types of cryptocurrencies available. If you are part of any crypto communities on Telegram or follow crypto enthusiasts on Twitter, then knowing what they are generally referring to is very helpful. For example, Altcoin can’t, and won’t be found on any exchange. It is a collective name for all coins that are not Bitcoin.

Tokens represent a unit or portion of a cryptocurrency and may be considered securities in some jurisdictions depending on the specific rights of the token holder. Typically when a new cryptocurrency is introduced, parties who are funding the new currency are given tokens representing their participation, or investment.  

Don’t be confused between security tokens and utility tokens. They are different. Utility tokens are designed to enable certain functions on a project or blockchain platform, also referred to as “gas.”.  Utility tokens are not necessarily backed by any assets and afford you no rights to dividends, shares of a company, or other ownership.  Security tokens, however, are a store of value that are often traded, and meeting the “Howie Test,” and can appreciate (or depreciate) giving the owner asset appreciation and returns from investment. Specifically, the Howey Test determines that a transaction represents an investment contract if “a person invests his money in a common enterprise and is led to expect profits solely from the efforts of the promoter or a third party.”

Stablecoins are cryptocurrencies that are linked to the price of another asset or group of assets. This lowers volatility in the market, and usually, the assets linked to the stablecoins are established and quite resistant to price fluctuations. Tether, Goldcoin, PAX and Binance USD are some of the most frequently used stablecoins.

3.      Spend your crypto

Once you have stepped onto the crypto pitch with your DeFi wallet app accessible or with your crypto debit card in hand, there are many activities you can undertake, and it really is worth exploring the different investment avenues, opportunities, and crypto mining strategies in play. If you have opted for a wallet that exists within an expansive ecosystem like the Eidoo wallet mentioned earlier, you may have to look no further for an exchange and access to other decentralized finance (DeFi) solutions like lending and borrowing.

4.      Track your crypto 

At this point it is worthwhile investigating Blockchain explorers – a blockchain explorer is like the Google of the crypto world. Blockchain explorers like Ethers can lets you access the details related to your transactions on specific wallet addresses and blockchains. The details include the amount transacted, where the funds came from or went to and their ongoing status. Explorers make crypto more transparent and are very helpful as you can track payments and you investigate different investments and actions that have taken place on the chain.

It is essential to do your research and reach out to the crypto community who can guide you through these processes. Happy spending and hopefully earning too!

Optimistic vs. ZK Rollup: Deep Dive

Article by Alex Gluchowski on Nov 4, 2019 on Medium.com
· 15 min read

I found this article on Medium.com. It explains the the differences between zkrollup and optimistic rollups and how it deals with the issues of having a sidechain in general quite well. Rread full article here:
https://medium.com/matter-labs/optimistic-vs-zk-rollup-deep-dive-ea141e71e075

TL;DR: brief summary

“…Optimistic Rollup is a promising technology for scaling general-purpose smart contracts on Ethereum in the near term. If built relatively quickly, it can offer an easy way to migrate existing dapps and services with a reasonable degree of security/scalability tradeoffs. This will enable ETH 1.0 to keep up with growing demand….”

The Benefits and Risks of Smart Contracts

Smart contracts are automated contracts with self-executing business rules and financial agreements written into the code and stored on a decentralized blockchain network. 

Note here that they are not legally binding like traditional legal instruments, but are simply business decisions expressed in a form understandable by software and executed by the “Rules of Law”. That means that it is agreed upon by both parties that once the conditions are met, the contract is executed no matter what.

The mere fact that they are controlled by the code adds to their groundbreaking essence as that also makes them trackable, irreversible, and non-tamperable. 

Nevertheless, as with any innovation, there is the other side of the coin. With smart contracts, that is the issue of trust. 

Even though blockchain technology provides by nature a trustworthy and trustless alternative to the already existing models of business and interpersonal conduct, a code-controlled contract still remains as secure as the code written into and as bulletproof as the skillset of the person who wrote it. 

Even though blockchain technology provides by nature a trustworthy and trustless alternative to the already existing models of business and interpersonal conduct, a code-controlled contract still remains as secure as the code written into and as bulletproof as the skillset of the person who wrote it. 

How Are Smart Contracts Used?

The financial and banking sector was the first to recognize the massive potential of smart contracts using blockchain, but other industries are jumping on the bandwagon as well. 

Banks from all over the world have long since started to utilize smart contractual relationships, focusing mostly on large-volume cross-border transactions and trading credit default swaps. 

Additionally, companies in healthcare, real estate, tax, and insurance, supply chain industries are rapidly switching to these contracts for executing everyday business tasks. 

This, of course, in part relies on securing participant identity in the blockchain via tools like AIKON’s ORE Protocol in order to ensure contract signees’ access control, identity, and payment. 

Smart Contracts’ Benefits

Many argue that the pros by far outweigh the cons, but for smart contract mass adoption to become a thing of reality, those who are meant to use them first must understand both the benefits and associated risks. 

Accuracy

Since this type of contract is based on “if/then” relationships written into the code, when all conditions are met, contracts are executed. Therefore, they allow for infinitely more precision in their execution than what is allowed by traditional judicial frameworks, while at the same time they leave no room for subjective interpretation by human participants. 

Speed

As a paperless business tool, smart contracts are very quickly processed. Moreover, their automated and digital nature allows for incredibly fast data input and modification. When time is equalized with money, this is a significant advantage to have over the competition, for instance. 

Cost-effectiveness

Having in mind that utilizing these contracts eliminates all need to employ intermediaries that would vouch for the unviolated nature of information, using agreements of this type is less costly for companies than traditional ones. In this sense, trust is built into the mechanism of recording and executing the terms of the agreement – blockchain. 

Trust

Encoded into the blockchain platform, and based on the same principles, smart contract technology inherently invokes the rule of trust. Encrypted fragmented records of legal relationships and financial transactions are shared between all blockchain participants, thus ensuring their intended undamaged condition free of malicious modification. 

Security

Again, the fact that all information related to this type of contract – or anything stored in blockchain really – is broken down into encrypted sections distributed across the network is precisely what makes it safe from tampering. To change a piece of information within a smart contract, the entire chain would need to be altered and that is only done through a validation consensus. 

Smart Contracts’ Risks

As said before, with such a young technology – after all, smart contracts were first introduced in the mid-nineties – there are still pending issues that hinder its mass adoption. 

Reliance on the Code

Many people still vary from utilizing contracts built on blockchain to conduct their business precisely because they believe no code is perfect simply because it has to be created by a human. In that sense, it’s reasonable to think that there will always be flaws others can use to gain unauthorized access to the system and perform malicious actions. 

Regulation

Since smart contracts and blockchain technology are still maturing, we are yet to see how the legal systems across the world will handle these business agreements in terms of taxation and other forms of regulation. 

Nevertheless, these issues are expected to be addressed and resolved as the technology matures and is perfected over time. 

In any case, these contracts are formulated in such a way that they truly represent the future of humankind, especially when having in mind the technology-based society we live in.

This article originally appeared on aikon.com

Bitcoin steady upward – 10k and 11k target in sights

https://www.tradingview.com/chart/BTCUSD/Dsrawi38-Bitcoin-steady-upward-10k-and-11k-target-in-sights/

As predicted in my scenario 3 Bitcoin ( BTC ) is on a steady upward motion and testing the $10,000 mark. It will tackle this hurdle this week and take aim at $11,000. If and when it breaks that barrier we are likely to see a continued parabolic move towards its all-time highs at $20,000. Bitcoin has broken out of the Keltner Channels upwards, so the momentum is in favor the uptrend. The parabolic SAR indicator also shows us we are in an uptrend scenario. Go Bulls.

Bitcoin starting its rocket boosters as predicted

https://www.tradingview.com/chart/BTCUSD/OlAX9Squ-Bitcoin-starting-its-rocket-boosters-as-predicted/

As predicted Bitcoin has turned on it’s rocket boosters in my scenario 3. We will see soon if this will lead to Bitcoin breaking out of the overall downward trend channel. Overall the crypto market is on fire. It sure feels like we are at the gate of an altcoin cycle and potentially new BTC highs. This week will tell if the direction holds.

Bitcoin Bulls Battling for Rocket Booster level of 8,400 USD

https://www.tradingview.com/chart/BTCUSD/Z0rd5qqj-Bitcoin-Bulls-Battling-for-Rocket-Booster-level-of-8-400-USD/

As forecasted in my scenario 3 recently the Bitcoin bulls managed to break out of the first downward channel trend. This week close will show if Bitcoin can maintain the level at and above 8,400 USD for launching the rockets and take aim for 11,000 USD the second downward trend channel to break or bounce off from.

Bitcoin (BTC) about to break-out of 1st downward channel

https://www.tradingview.com/chart/BTCUSD/nBtflk9P-Bitcoin-BTC-about-to-break-out-of-1st-downward-channel/

BTC is making moves to get ready to break the first barrier of the pressing downward channel . I am bravely turning long and anticipate the next upward ralley. So I created a scenario 3 on my continued prediction journey. Scenario 2 is still very much in the picture. The market has to make a move and with global markets in the red and war on the horizon it will tip things for BTC .