Gold

On March 2nd, the technical indicators of Ethereum showed oversold over the weekend and recovering. The Relative Strength Index (RSI), a technical indicator of Ethereum, entered the oversold (O/S) segment and then escaped the segment on the 2nd.

While the stock markets are shaking, the price of cryptocurrencies rises, despite partial red. The coronavirus that is bringing China to its knees and worries the whole world certainly influences the former, and in all probability also the cryptocurrency market. Not everyone is convinced, though. Let's analyze the situation.

As of the recent political events between the long term sworn enemies of the United States and Iran, new measures have been reintroduced by the former. The United States under the Donald Trump administration imposed fresh economic sanctions on Iran. Following the sanctions aftermath prices of commodities like Bitcoin and Gold started to steadily enter a bull run.

In the past few days, Bitcoin formed a weird correlation to normal hide-out assets such as Gold, when its trading price skyrocketed as political turmoil between the United States and the Middle East region started increasing earlier this year, and the price began plunging as tensions slighted relaxed. Due to the fear of losing their holdings, it is expected that most people living in both regions, decided to seek safe haven in cryptocurrencies especially BTC, and because of that its price had to surge.

President Nicolás Maduro, states that, from 2020, oil will be sold for Petros, the cryptocurrency developed by the Venezuelan government. He assured that this year the country's oil production will be sold in their own oil-backed stablecoin.

The birth of cryptocurrency including Bitcoin traces back to the times of the Bretton Woods system of monetary management back in the 1970s. However, regardless of its positives, the system had some weighty weaknesses that ultimately led to its end on August 15, 1971.

The fiscal salvage of recent years has openly proved wide of the mark the doomsday economists. Several parties will more probably be just as off beam about cryptocurrency including Bitcoin (BTC). As per now, the economic projection seems amazingly positive, however, a few months ago, some economists forecasted differently.

Following the recent Binance DEX listing, Paycent performs a huge 45 days $ 1,000,000 giveaway, PYN traders and holders have a chance to win $ 350,000 Bentley Bentayga, 1 KG gold bar, 5 Rolex Cosmograph Daytona, and 500 more tangible prizes.

In an effort to fight modern slavery in supply chains, major companies are exploring and experimenting with blockchain and distributed ledger technology (DLT). Ascertaining whether products especially minerals including cobalt, gold, copper, etc., are obtained and produced decently is very hard when it comes to supply chains since it is a complex process.