Thomas Lee Made A Bullish Analysis On Altcoins

Fundstrat Global co-founder, Thomas Lee has recently tweeted an analysis about altcoins, which implies altcoin bull is imminent.

Firstly, he mentioned that the current 'altcoin correction index' has hit an all-time-high of 97% since October 25, 2014.

The 'altcoin correction index' is a percent measure of how many altcoins are down 70% from their 9-month high.

Then, he mentioned that when the figure hit 87% in 2014, which is an all-time-high at that time, altcoins gained nearly triple within seven weeks after.

Lastly, he believes that the current figure seem to suggest that this latest downdraft of altcoins is a tactically positive signal for a bullish run.

$90M Blockchain Education Course By South Korea

According to local news outlet in South Korea, the South Korean Ministry of Science and Technology has just made the first steps towards crafting the first batch of blockchain specialists.

Recently the ministry’s information and communications departments divulge that it had hosted its first ever lecture on distributed ledger technology (DLT).

This is seen as the first move to rollout a blockchain technology development strategy backed by a 100 billion Korean Won ($90 million USD) investment from the government.

As reported by a local news outlet, 42 students were selected to undergo training in the Walton Blockchain Research Center in Seoul.

They will be among the first individuals to lead the development of the domestic blockchain industry.

The scholars after completing their training will go straight to work putting the skills they have learned to the test in real-life scenarios and blockchain firms.

Google Adds Cryptocurrency Network To Its Analytics Platform

According to a blog-post in Google’s official blog website dated August 29, 2018, the Google Cloud team has officially made the Ethereum (ETH) dataset available in BigQuery, the company’s big data warehouse for analytics.

The Google team reveals that the tool was created to help make business decisions, prioritize improvements to the Ethereum architecture, and balance sheet adjustments.

In addition the team explains that the Ethereum blockchain contains APIs whose endpoints cannot be easily reached thus BigQuery’s OLAP features help aggregate such types of data and visualize it.

This is not the first time Google expanded into blockchain-based tools and services, back in February this year it has also created a similar tool for Bitcoin (BTC) blockchain to visualize transactions, detect anomalies, and extract necessary data from the blockchain ledger.

Bitcoin Candy Coins From Walmart

Photo Credit: https://www.reddit.com/user/TheKayleMain

Retail giant Walmart has started selling Bitcoin coins in their retails store shelves.

The Bitcoin coins takes on the form of chocolate coins and coated with gold foil wrapper.

The candy Bitcoins are similar to those gold foil-covered chocolate coins commonly found around St. Patrick’s Day.

The candy Bitcoins are sold at $1 each pack and provides a great exposure to the number one cryptocurrency in the world.

Walmart is said to be visited by 270 million customers each week across more than 11,200 stores under 65 banners and 28 countries.

The chocolate Bitcoins featured at Walmart is great exposure and good fun but Walmart does have some serious intent for the underlying technology that powers cryptocurrencies, the blockchain.

In the past several months Walmart has filed several patents to leverage this nascent technology ranging from using the technology to scheduling deliveries, retail reselling platforms and autonomous delivery systems.

This clearly is an indication that cryptocurrencies and blockchain technologies are on their way of becoming household names in the near future.

Crypto Mining Acknowledge As An Industry In Iran

According to a local news agency in Iran, the secretary of Iran’s Supreme Cyberspace Council revealed that various ministries of the country’s government have accepted crypto mining as an industry.

However, official legislation forming a legal framework for the industry has yet to be introduced in the country.

These ministries includes the Ministry of Information and Communications Technology, the Central Bank, the Ministry of Industry, Mine and Trade, the Ministry of Energy as well as the Ministry of Economic Affairs and Finance.

According to Abolhassan Firoozabadi, the Cyberspace Council’s secretary.

The Iranian National Cyberspace Center is developing a platform for cryptocurrency mining regulation.

He further reveals that the government is also considering the launch of a national cryptocurrency in order to create a financial tool to cooperate with Iranians business partners amid economic pressure from U.S. sanctions.

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