SCI Daily: There and back again.
August 24, 2018
Bitcoin (BTC) steadily rose last night, providing a breather, after the sharp moves the other day left traders dizzy. BTC slowly climbed back to around $6500, after giving back all its gains. The broader crypto market also bounced after reaching oversold levels.
Support levels are at $6,200 and $5,800 while resistance levels are at $6,800 and $7,200.
BTC/PHP: 352,960 / 337,090
USD/PHP: 53.53
BTC Market Cap: $112B
Crypto Market Cap: $210B
News:
The U.S. Securities and Exchange Commission (SEC) is looking into the disapproval of 9 bitcoin ETFs issued earlier this week. The SEC rejected the proposals of Proshares, GraniteShares, and Direxion last Wednesday. No information has been released on why the SEC is reviewing its decision aside from the standard order of action.
The U.K. Ministry of Justice is investigating using blockchain technology in order to speed up and simplify court processes for securing and handling digital evidence. The Ministry’s own head of cybersecurity, Balaji Anbil, used Estonia as an example of a country that “developed innovative citizen identity management solutions using blockchain.”
A local Swedish bank called Valens Bank, just inked a new software license agreement with blockchain startup Stockholm IT Ventures AB (SITV). The agreement will allow Valens Bank to utilize the BTT Crypto Trading Toolbox, a platform provided by SITV’s subsidiary Blocktrade Technology for “Crypto fund Trading”. Currently, the platform enables professional traders to use AI tools to “manage their clients digital assets.”
Events:
BlockLab 1.0: Initiate
August 28 & August 29 at 4pm onwards
iACADEMY Nexus Yakal St. Bgy. San Antonio, 1203 Makati
A two-day conference hosted by Coding Girls Manila filled with blockchain seminars, workshops, exhibitions, and more. It will feature global speakers sharing their projects, stories, struggles, and aims, in an effort to educate attendees on blockchain technology.
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