Weekly News Highlights
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Bitcoin Holds Above Water As Price Bounces Off $29,500
The overall mood amongst investors and traders has risen as Bitcoin denies falling too far below $30,000. But, of course, with everything, there is a downside. For Bitcoin to cover more ground to the upside, it has to break through all its old support levels, which have potentially now become levels of resistance.
With the current price of $32,500 holding at the time of writing, the downtrend may be breaking. The market may currently be approaching a decision point after roughly two months of consolidation since the significant correction in May.
There is a long way to go until any new all-time highs come in, or rather many barriers stand in the way of getting there. So buckle up and expect turbulence on the way.
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Solution For Removing The Need To Send Test Transactions
Sending test transactions to different wallets is a common practice in crypto for verification that the receiving wallet has acquired the funds. However, an Israeli blockchain developer has found a way to deal with this issue.
Developer Kirobo is designing a solution to resolve inconvenience in crypto by developing a smart contract that allows you to retract funds if you have mistakenly sent them to the wrong address, essentially calling it an ‘Undo Button.’
This Undo Button will allow users to insert an authentication key to receive crypto sent to them. This way, it becomes a peer-to-peer transaction with the smart contract in the middle executing the trade. If the transaction receiver hasn’t put in their transaction key, then the sender can retract their funds and disengage from the transaction.
The idea can be imagined a little like this picture here:
Creating Services That Appeal To Younger People In Australia And The US
The whales of crypto may be middle-aged to older generations, but the next wave of retail investors in the coming years will be the current youth.
Companies like Zip are finding ways to create services that younger people are willing to engage with. Co-founder of Zip, Peter Gray, suggests that ‘the younger generation are going to be seeking additional products and services that are relevant to them.’
Zip currently intends to create ‘buy now pay later’ solutions in crypto, which may include trading services and potentially a digital wallet.
As the younger generations continue to take more interest in services offered in cryptocurrency, the strength of the retail investment class should increase over time.
Wendy’s Whitepaper Disclaimer: Please be advised that I own a diverse portfolio of cryptocurrency assets, and anything written or discussed in connection to cryptocurrencies– regardless of the subject matter’s content– may represent a potential conflict of interest. I wish to always remain transparent and impartial to the cryptocurrency community, and therefore, the content of my media is intended FOR GENERAL INFORMATION PURPOSES ONLY. Nothing that I write or discuss should be construed, or relied upon, as an investment, financial, legal, regulatory, accounting, tax, or similar advice. Nothing should be interpreted as a solicitation to invest in any cryptocurrency, and nothing herein should be construed as a recommendation to engage in any investment strategy or transaction. Please be advised that it is in your own best interests to consult with investment, legal, tax, or similar professionals regarding any specific situations and any prospective transaction decisions.