Crypto Daily: China’s Blockchain Development Has Its Competitive Edge; Bitcoin Reaching 5,500 is a Strong Likelihood, But Possibility of Drop to 3,000 Remains.

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Image: crypto-info.io

Huang Yi, Deputy Governor of China Construction Bank, said at the China Development Forum that, global competition has improved China’s efficiency and capabilities since the Chinese Economic Reform (1978), especially in the field of technology, such as fintech, the application of big data, artificial intelligence, blockchain and other applications, has given China a competitive edge.

China Electronic Information Industry Development (CCID), which operates directly under the Ministry of Industry and Information Technology of China, has been keeping a close watch on public chain development and regularly release their crypto ranking. Below is their assessment index for March 2019.

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Analyst: Bitcoin (BTC) Reaching 5,500 is a Strong Likelihood, But Possibility of Drop to 3,000 Remains

【newsbtc】At the time of writing, Bitcoin is trading down marginally at its current price of $4,020. Over the past several days, BTC’s volatility has been declining as its trading range grows tighter.

Although the upper bound of BTC’s current trading range will most certainly act as a level of resistance in the near-future, the key level that analysts and traders alike are closely watching to see how Bitcoin responds to is $4,200, which is where the crypto faced strong resistance and spiraled downwards from late last month.

Crypto Krillin, a cryptocurrency analyst on Twitter, recent discussed where he sees Bitcoin heading next, importantly noting that he believes the crypto will make an upwards swing towards $5,500 next, but further added that a downside target of $3,000 is still a possibility.

“The moment of truth for Bitcoin is very near. We fly straight through the cloud to 5500, or we visit 3000. I’m leaning bullish,” he explained in a recent tweet.

Netherlands: Gov’t-Backed Odyssey Hackathon to Explore Use of Blockchain, AI in Energy, Digital Identity and More

【coinjournal】Odyssey, a blockchain and artificial intelligence (AI) hackathon formerly known as the Dutch Blockchain Hackathon and Blockchaingers, is coming back for its third edition to connect innovative teams and ideas with governmental, corporate, and non-profit partners.

The hackathon is backed by government agencies, organizations and companies including the Ministry of the Interior and Kingdom Relations of the Netherlands, De Nederlandsche Bank (the Dutch Central Bank), the Netherlands Authority for the Financial Markets (AFM), the European Union Regional Development Fund, Deloitte, and KLM, and will see 100 teams building prototypes to address 20 societal challenges.

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Image: Odyssey Hackathon 2018, via DutchChain

These challenges cover areas including energy transition, public utility networks, (self-) governance, self-owned digital identity, biometric data communication, financial inclusion and security, cargo insurance, digital nation infrastructure, wildlife and biodiversity restoration, food value chain sustainability, and open crisis and disaster management.

Bitmain’s HKex IPO Filing Expires

【chepicap】The Chinese crypto mining firm’s HKex Initial Public Offering (IPO) filing is due to officially expire today (25/03/2019), officially signalling the failure of its first effort to go public.

Bitmain first filed for the IPO six months ago, still riding high in the wake of the astronomical profits that the company had previously made, as the mining industry leader at the time of 2017’s historic bull run. Since then, a number of major investors have pulled out, claiming that they were misled by the company. Bitmain has been beset by various issues, and some have speculated that it may now be insolvent.

Disclaimer: This Crypto Daily is curated by DigiFinex for your reference only, it is NOT an investment advice.

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