The development of the blockchain technology is a subject of interest to the companies all over the world. Nevertheless, such a tech giant as Google seems to stay rather conservative when it comes to the new technology.
The decision on a ban on all advertising on Google Adwords that is cryptocurrency-oriented did not come unnoticed in the crypto-sphere. However, in March 2018 they announced the creation of a line of blockchain-related technologies to work with its various online services, but the Google spokesman remained critical and : “we have individuals in various teams exploring potential uses of blockchain but it’s way too early for us to speculate about any possible uses or plans”. The Google’s lack of trust in blockchain became one of the reasons the three ex-employees of the company created the community to bring together all the Googlers who are interested in the ambitious technology.
(GBA) is bringing together the current and former Google employees to create the community that may fulfill their ambitions in the relatively new sphere working together. The core team of the project consists of three ex-Googlers who are leaders of the Chinese blockchain community.
Hitters Xu is known for creating a next-generation public blockchain Nebulas. Daniel Wang got the widespread recognition as a founder of Loopring—a decentralized exchange and open protocol. Andy Tian is associated with Gifto —a decentralized universal gifting protocol and serial entrepreneur he founded.
All the three of the GBA core team got solid experience in one of the most influential companies in the world – Google. That fact explains the limitation set by the new community. Google has been thoroughly selecting the brightest minds for long years – and applying their skills and abilities to the blockchain sphere may lead to impressive results.
The ability to think outside of the box is not only characteristic for Googlers, it is also badly needed to create a blockchain breakthrough. Hitters Xu, one of the founders of the GBA community, said, “Googlers who are prominent influencers in ‘classic internet’ can play important role in blockchain space.”
His colleague Andy Tian completely supports Hitters Xu: “Google has always been in the forefront of new technologies worldwide, from Android to AI. As Googlers, we can bring our unique experiences to expand blockchain’s influence, to everyone, everywhere.”
The community is open for both current and former employees of the tech giant. Even though the GBA community has just been created, it is already presented in three locations: San Francisco Bay Area, Beijing and Shanghai.
Google has always been known for the outstanding talent hunt. Each member of the GBA core team has already proved to be a specialist in the sphere. Probably, they are not the only talented Google employees interested in blockchain. The combination of their efforts will definitely lead to a number of groundbreaking projects.
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The cryptocurrency markets have shown early signs of a bullish momentum shift following several months of heavy selling pressure. After losing upwards of 75% to 85% and forming ‘adam-and-eve’ style double bottoms, many leading cryptocurrency markets have produced significant bounces over the course of the last fortnight. The markets now appear poised in ‘open air’ – with either a retest of recently broken descending trendlines or further bullish momentum toward 23.6% retracement areas comprising the likely next moves for price of leading cryptocurrencies.
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BTC Markets Recover by 25% From Support
The bitcoin (BTC) markets led the charge for the recent crypto bounce, forming an adam-and-eve styled double bottom after testing $6,000 USD area for the second time in 2018. The bounce saw BTC make a fourth point of contact with a long-term ascending trendline from July 2017. The recent low of roughly $6,400 comprised a 62.5% loss in value from this year’s highs of approximately $17,000.
On the 12th of April, BTC produced a dramatic upward spike and broke out of the descending triangle pattern in which it has consolidated during preceding months. With prices testing resistance at the $8,100 area as of this writing, the BTC markets have produced a gain of approximately 26.5% from the local low of roughly $6,400. Presently, as with many other cryptocurrency markets, it looks as though the next move for BTC will likely be either more bullish momentum towards the 23.6% retracement area, or a drop back down to retest the descending trendline that BTC recently broke above.
BCH Makes Bullish Gains of Almost 37%
bitcoin Cash (BCH) found a local floor of approximately $610 towards the end of the first week of April, establishing support at the break-out area from November 2017 that also formed a third point of contact with a major long-term ascending trendline dating back to the BCH’s all-time low during the earliest weeks of bitcoin Cash’s existence.
The recent sustained bearish action comprised a loss of approximately 79% from 2018’s highs of approximately $2,900. When measuring from BCH’s all-time high of roughly $4,000 from late December, bitcoin Cash has experienced a retracement of over 85%.
Since then, bitcoin Cash has rallied by approximately 37%, with the prices hovering at the $835 area as of this writing. BCH appears to be showing early signs of a bullish momentum change after breaking out of multiple significant descending trendlines and producing many days worth of sideways consolidatory price-action. As of this writing, BCH has the fourth largest market capitalization of all cryptocurrencies with a total capitalization of $14.2 billion.
Altcoin Markets Break Out of Descending Trendlines After Retesting Breakout Zones of Late 2017
The Ethereum (ETH) markets have also produced an adam-and-eve styled double bottom after fully retracing to retest the November 2017 breakout area of approximately $380. The local bottom also formed an additional point of contact with a long-term ascending trendline that has so far held for over 12 months.
ETH has since broken out of a major descending trendline, and produced gains of 35.5%. The price of ETH is approximately $515 as of this writing. Ethereum has continued to retain its position as the second largest cryptocurrency market by total capitalization, currently boasting a market cap of approximately $51 billion according to Coinmarketcap.
Ripple (XRP) is the third largest market by capitalization with $26.75 billion. In recent week, XRP established a local floor of approximately $0.46, after losing over 85% from the record highs of roughly $3.25 seen during early January. Since then, Ripple has bounced by over 68%, and is currently testing resistance at the $0.686 area.
Litecoin (LTC) is currently the position of the fifth largest cryptocurrency market with a total capitalization of $7.7 billion. After establishing resistance at $100 and making a third point of contact with an ascending trendline from September 2017, LTC has made gains of 27.5%, with prices currently sitting at almost $137.
Do you think that the immediate bear trend is over? Share your thoughts in the comments section below!
Images courtesy of Shutterstock, Trading View
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