Bitcoin analysis for 20/04/2018

Amazon Technologies, Inc. - a subsidiary of the American giant of e-commerce and cloud computing, has obtained a patent for the market offering data channels. More importantly, the patented market includes Bitcoin transactions. The U.S. Patent and Trademark Office approved the Amazon Technologies application for a patent on the streaming data market. This patent was originally filed in September 2014 and relates twice to BTC transaction.

This is how it works: a group of electronic or internet sellers accepting Bitcoin transactions may have a shipping address that may correlate with the BTC address. Electronic sellers can combine the shipping address with Bitcoin transaction data to create correlated data and republish the combined data as a merged data stream. A group of telecommunications service providers can subscribe to combined data streams and be able to link the transaction IP address to countries of origin. Government agencies may be able to subscribe to tax data and correlate it with tax transactions to help identify the participants in the transaction. The second example describes how a law enforcement agency might be interested in Bitcoin's global transactional data to correlate the addresses of bitcoin portfolios with IP addresses or physical addresses: For example, a law enforcement agency may be a customer and may want to receive global Bitcoin transactions, correlated by country with the ISP's data to determine the source IP addresses and shipping addresses that correlate with BTC addresses. The Agency may not want additional available improvements, such as local bank records. For example, the streaming data market can price the desired data on GB, and the agency can start analyzing the data needed using the analysis module.

Whether or not Amazon's plans are good or not will not be verified. Nevertheless, it can be a huge step forward for global Bitcoin payments implementation

Let's now take a look at the Bitcoin technical picture in the H4 time frame. The market is now in wave b cycle of the corrective wave (2)/b, which should end at the level of $7,442. There is a possibility that the wave (2)/b had been completed already at the level of $7,722, but it would have been very short in price and time. The key level to the upside is the recent swing high at the level of $8,355. If broken, then the market will likely rally towards the next technical resistance at the level of $9,134.


The material has been provided by InstaForex Company -