Developers to Work Full-Time on the Core Technology of the Bitcoin per Dorsey

By dan saada October 30, 2019 0
bitcoin core dorsey

Reports are doing the round stating that China has been removing several online posts which have been claiming that the blockchain technology is a scam.  It seems like there is a massive shift in the blockchain policy of the country.

Several advertisements are seen showing blockchain courses on popular apps and social media on Chinese websites.

A few months ago, Dorsey, stated he would be paying developers to work full-time on the core technology of the Bitcoin and in several other cryptocurrency ecosystem projects.

Dorsey stated in a recent interview, “I believe the internet will have a native currency […] I don’t know if it’s Bitcoin, [but] I think it will be given all the tests it’s been through, the principles behind it, and how it was created.”

The quest for the cryptocurrency to gain recognition as it continues towards mainstream adoption is supported by investors who are desperate to see mainstream adoption.

It seems that Dorsey is putting his money where his mouth is. 

Bitcoin is looking to test the 9K again.  The consolidation low for the Bitcoin is currently at 8,917, which is below the 9K support level.

Ethereum has been gaining momentum.  And it has been trading well above the support price level at $188.  A new bullish trend line for ETH is forming near $187 on the ETH/USD chart.  The pair continues to be well supported at the downside near the $188 and $185 levels.

The MACD for ETH/USD is in the bullish zone.  The RSI for ETH/USD is correcting lower.  It will test the $55 level.  Major support level is seen at $182, and the significant resistance level is seen at $195.

Litecoin has regained a negative medium-term outlook.  Bearish heads and shoulders patterns are seen in the 4-hour time frame.  The daily structure has shown that the bulls are to rally in price towards the $85.00 level to preserve the medium-term prospect of LTC/USD pair.

The short-term technical analysis signals that the LTC/USD pair is technically going bullish in the short-term.  The LTC bulls will have to defend the $55 range to sustain their dynamics.

An upward rally of 40% is required from the current trading levels.  There has been a lack of bullish pattern on the higher frames, which indicated that this could prove tricky without any fundamental catalyst.  The short-term sentiment towards the Litecoin is bearish, though.  The overall long-term sentiment is negative at 22%.