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DPR connects with Six Degrees on Microsoft Azure – Finextra – Finextra

March 6, 2021 | Author: admin

UK-based banking software provider, DPR, has announced its latest technical partnership with Six Degrees as it continues to expand its Microsoft Azure integration.

DPR is committed to improving client experience and ensuring its clients remain at the forefront of the banking sector. The group has invested heavily in developing its technologies and expanding its Azure offering, including becoming a Microsoft Cloud Solution Provider (CSP), to deliver Origination and Servicing of Mortgages, Savings and Loans as a fully managed service.

Richard Marsh, Client Infrastructure and Services Director, DPR, said: "The market demand for Cloud hosting has changed significantly in the last two years. Speed of deployment, security, and converged service demand is increasing. We need multiple partners to meet our customers' objectives and deliver on time; our latest project has demonstrated our Cloud hosting abilities.

Richard continued: As DPR becomes the prime hosting partner for new and existing clients, it is vital we extend our technology base into the Microsoft Azure technology stack and use the true benefits of cloud. We are re-architecting our product suite towards cloud-native applications and strengthening our security and service stance. Six Degrees brings a best of breed approach with an excellent depth of Microsoft-focused engineering skills and services to compliment the DPR hosting services, and we are delighted to have them as a partner."

UK Financial Institutions such as Redwood Bank, The Cambridge Building Society and Castle Trust Bank are already taking advantage of DPR's cloud computing services within Azure.

Trevor Tannenbaum, Head of IT & Change, The Cambridge Building Society, commented: "DPR executed their plan perfectly; all key milestones were delivered on time. Now we are live on Microsoft Azure we are starting to see the benefits - the capabilities now available for operational resilience are key for the Society. The flexibility it offers will enable us to manage growth and reduce our overnight processes to allow customers full access to their accounts throughout the day."

As an Azure Expert Managed Service Provider and Gold Partner with multiple security accreditations including ISO 27001 and Cyber Essentials Plus and its own in-house cyber practice, Six Degrees is trusted by DPR to manage its Azure services in a manner that maintains the uptime, performance and security of its software. Six Degrees' automation and development capabilities allow DPR to deliver consistent services to its clients, quicker than ever.

David Howson, CEO, Six Degrees, said: "Six Degrees is trusted by a number of leading software providers to deliver the secure cloud foundations that support the delivery of their software in a secure, high performance and always-on manner. We are proud to partner with DPR, an innovative and trusted provider to the finance sector, and we believe we are the perfect partner to ensure the continuing success of the DPR proposition in the UK."

Janet Jones, Head of Industry Strategy, UK, Financial Services, Microsoft, said: DPR and Six Degrees benefit from the automation and development capabilities available through Microsoft Azure. We are pleased to see this integration already delivering tangible benefits to DPRs clients.

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Cloud Hosting Service Market Share, Growth, Trend Analysis And Forecast From 2020-2025; Consumption Capacity By Volume And Production Value …

March 6, 2021 | Author: admin

The objective of the Cloud Hosting Service research is to provide a 360 holistic view of the Cloud Hosting Service market and bringing the insights that can help stakeholders identify the opportunities as well as challenges.The report provides the market size in terms of value and volume of Global Cloud Hosting Service Market. The study also includes incisive competitive landscape analysis and provides key recommendations to market players on winning imperatives and successful strategies.

This report provides in-depth insights on the global Cloud Hosting Service industry in its published report, Cloud Hosting Service Market Strategic Recommendations, Trends, Segmentation, Use Case Analysis, Competitive Intelligence, Global and Regional Forecast To 2025. According to our research study, the global Cloud Hosting Service market is estimated to be valued at XX Million US$ in 2019 and is projected to reach XX Million US$ by 2025, expanding at a CAGR of XX%. The report on Cloud Hosting Service market provides qualitative as well as quantitative analysis in terms of market dynamics, competitive landscape scenarios, growth opportunities, market growth, industrial chain, and revenue pockets of the industry after Covid19 etc.

Cloud Hosting Service market report offers, status and outlook of global and major regions, from angles of key players, countries, product types and end user/industries. Cloud Hosting Service market report analyzes the top companies in the industry. This report also includes the impact of COVID-19 & revenue assessments on the Cloud Hosting Service industry.

Request for a sample report to browse TOC, full company coverage & many more @ https://inforgrowth.com/sample-request/6429007/Cloud Hosting Service-Market

Product Types and Applications analysis

The research report includes specific segments such as product types & applications of Cloud Hosting Service. The report provides market size (sales volume and revenue) for each type and end industry from 2015 to 2020. Understanding the segments helps in identifying the importance of different factors that aid market growth.

Based on Product Type:

Break down of Cloud Hosting Service Applications:

Competitive Landscape AnalysisThis report contains the major key players analysis of the global Cloud Hosting Service market. By understanding the operations of these players (sales volume, revenue, sales price and gross margin from 2016 to 2020), the reader can understand the strategies and collaborations that the manufacturers are focusing on combat competition in the market.

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Regional AnalysisGeographically, this report is segmented into several key Countries, with market size, growth rate, import and export of Cloud Hosting Service in these countries from 2016 to 2020, which covering

Impact of COVID-19 on Cloud Hosting Service Market

The report also contains the effect of the ongoing worldwide pandemic, i.e., COVID-19, on the Cloud Hosting Service Market and what the future holds for it. It offers an analysis of the impacts of the epidemic on the international market. The epidemic has immediately interrupted the requirement and supply series. The Cloud Hosting Service Market report also assesses the economic effect on firms and monetary markets. Futuristic Reports has accumulated advice from several delegates of this business and has engaged from the secondary and primary research to extend the customers with strategies and data to combat industry struggles throughout and after the COVID-19 pandemic.

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Comprehensive Report on Health Care Cloud and Hosting Market 2021 | Size, Growth, Demand, Opportunities & Forecast To 2027 | Med Tech Solutions…

March 6, 2021 | Author: admin

Health Care Cloud and Hosting Market research report is the new statistical data source added by A2Z Market Research.

Health Care Cloud and Hosting Market is growing at a High CAGR during the forecast period 2021-2027. The increasing interest of the individuals in this industry is that the major reason for the expansion of this market.

Health Care Cloud and Hosting Market research is an intelligence report with meticulous efforts undertaken to study the right and valuable information. The data which has been looked upon is done considering both, the existing top players and the upcoming competitors. Business strategies of the key players and the new entering market industries are studied in detail. Well explained SWOT analysis, revenue share and contact information are shared in this report analysis.

Get the PDF Sample Copy (Including FULL TOC, Graphs and Tables) of this report @:

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Note In order to provide more accurate market forecast, all our reports will be updated before delivery by considering the impact of COVID-19.

Top Key Players Profiled in this report are:

Med Tech Solutions Inc, Rackspace, Health Catalyst, OVH Cloud, TrueNorth, Ntirety, Hostway and Hostting, Mercy, Euris, Navisite, Care Cloud, Netsmart, Volico.

The key questions answered in this report:

Various factors are responsible for the markets growth trajectory, which are studied at length in the report. In addition, the report lists down the restraints that are posing threat to the global Health Care Cloud and Hosting market. It also gauges the bargaining power of suppliers and buyers, threat from new entrants and product substitute, and the degree of competition prevailing in the market. The influence of the latest government guidelines is also analyzed in detail in the report. It studies the Health Care Cloud and Hosting markets trajectory between forecast periods.

Global Health Care Cloud and Hosting Market Segmentation:

Market Segmentation: By Type

Cloud ComputingHosting

Market Segmentation: By Application

HospitalHealthcare Organizations

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Regions Covered in the Global Health Care Cloud and Hosting Market Report 2021: The Middle East and Africa (GCC Countries and Egypt) North America (the United States, Mexico, and Canada) South America (Brazil etc.) Europe (Turkey, Germany, Russia UK, Italy, France, etc.) Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia)

The cost analysis of the Global Health Care Cloud and Hosting Market has been performed while keeping in view manufacturing expenses, labor cost, and raw materials and their market concentration rate, suppliers, and price trend. Other factors such as Supply chain, downstream buyers, and sourcing strategy have been assessed to provide a complete and in-depth view of the market. Buyers of the report will also be exposed to a study on market positioning with factors such as target client, brand strategy, and price strategy taken into consideration.

The report provides insights on the following pointers:

Market Penetration: Comprehensive information on the product portfolios of the top players in the Health Care Cloud and Hosting market.

Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market.

Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market.

Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies.

Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Health Care Cloud and Hosting market.

Table of Contents

Global Health Care Cloud and Hosting Market Research Report 2021 2027

Chapter 1 Health Care Cloud and Hosting Market Overview

Chapter 2 Global Economic Impact on Industry

Chapter 3 Global Market Competition by Manufacturers

Chapter 4 Global Production, Revenue (Value) by Region

Chapter 5 Global Supply (Production), Consumption, Export, Import by Regions

Chapter 6 Global Production, Revenue (Value), Price Trend by Type

Chapter 7 Global Market Analysis by Application

Chapter 8 Manufacturing Cost Analysis

Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers

Chapter 10 Marketing Strategy Analysis, Distributors/Traders

Chapter 11 Market Effect Factors Analysis

Chapter 12 Global Health Care Cloud and Hosting Market Forecast

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What is a URL Redirection? – Web Hosting | Cloud Computing | Datacenter | Domain News – Daily Host News

March 6, 2021 | Author: admin

Have you ever wondered how a single website can have multiple URLs/ Web addresses? This article will help you understand the concepts of URL redirect, URL masking, types of URL redirect.

What is it?

URL Redirection or URL Forwarding is a technique that is used to redirect your website visitors to another URL. When a user attempts to open a page with a redirected URL, the control goes to another URL. Domain redirection or domain forwarding is similar to this. The only difference is that allthe pages in a URL domain are redirected to a different domain instead of just one. For example,example.com and example.net can be redirected to example.org. As a matter of fact, we can redirect our URL to any other URL, website or page that is available online. Redirects use status codes in HTTP protocol.

On the basis of status codes used, URL redirect can be classified into 301 (permanent), 302 (temporary) URL Redirects, and URL Frame (masked redirect).

301 Redirect Unmasked

URL Redirect 301 is an unmasked permanent forwarding. This type is used when our website is permanently moved from a URL to another and we want search engines to index it. As a result, all the URL traffic will be forwarded to the new URL along with its SEO rating. This method is arguably the best method for URL redirecting/ forwarding.

301 redirects are useful under the following scenarios:

When we move a webpage from the existing URL to another, the search engine takes time to discover the 301 redirects, recognize the new URL and acknowledge it with the SEO values and reliability of the older URL. This could be a long process if things do not go right.

302 Redirect Unmasked

302 redirect is a temporary unmasked redirect. This type is used when a website is temporarily moved from a URL to another. In such cases, search engines will always display the original URL rather than the new URL.

Scenarios in which a 302 redirect is used:

To illustrate,you are a laptop seller and you have a page named All new laptops which has a higher SEO score. If you use 302 redirects, you dont have to update that page every time a new laptop comes out. Instead, you can just create another URL with new updates and just temporarily redirect the actual URL to the new URL. By doing this, the search engines will show your actual URL with higher SEO value and the users will get redirected to a new URL, which is convenient for you.

URL Frame

URL Frame/ URL masking/ URL cloaking is similar to URL Redirect, except that the users are not redirected to another URL but the web page is displayed in a frame from the server. As a result, the URL remains the same for the user but he gets the content of redirected URL.

consequences:

URL redirection can be used for the following scenarios:

URL shortening

Minimizing the address of a web page into a smaller form that is easier to track or remember is known as URL shortening. Some URL shortening tools available in the market today are bit.ly, Goog.le and Tinyurl.com. For example, The URL https://en.wikipedia.org/wiki/URL_shortening can be shortened to https://w.wiki/U.

Resolve issues with broken links

If we dont do URL redirect when we move our page or modify our URL structure, it will automatically get redirected to a page not found 404 error code.

To evade this, always make sure to use a 301 redirect when moving or restructuring URL, which will allow the visitors to reach the new URL even if they are using the old URL.

Website owner with multiple domain names

Most of the web hosts allow you to park multiple domains so that they all point to your website. For example, consider three sites, example.com, example.net and example.org, when a user accesses any of the given URL, it directs to the exact same page on the sites web host. This can be achieved by hosting all the required URLs in the same hosting service.

URL redirection attacks (phishing attacks or malware distribution)

Attackers/ hackers use URL redirection to trick the users by redirecting to malicious websites from a real website to harvest sensitive data or to spread malware.

Conclusion

URL redirection is a very useful service that aimed at helping users point their domains or subdomains to certain specific URLs when necessary. This is mostly needed in cases when some website is no longer available under its original domain name when all the users linking to it need to be automatically informed of this update. Thus, the URL redirection functionality helps domain owners to keep the relevance of the incoming links to their websites.

The post What is a URL Redirection? appeared first on NASSCOM Community |The Official Community of Indian IT Industry.

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Cloud Services Are Top-Of-Mind for Phishers – Infosecurity Magazine

March 6, 2021 | Author: admin

Netskope has just released its February 2021 Netskope Cloud and Threat Report, a study that analyses the main trends on enterprise cloud service and app use, web and cloud-enabled threats and cloud data migrations and transfers.

Besides confirming that the majority of all malware (61%) is now delivered via cloud applications, the report also sheds light on how cloud apps are reshaping the phishing threat landscape - cloud apps are now the target of more than one in three (36%) phishing campaigns.

A Common Denominator in Multiple Phishing Reports

Cloud services are very compelling for threat actors, a fact confirmed by multiple security vendors and organizations. A report released recently by Check Point found that in Q4 2020, Microsoft was the most impersonated brand, appearing in 43% of brand phishing attempts. Unfortunately, Microsoft is not the only cloud service in the top 10; LinkedIn (another Microsoft brand) comes in at number three (6%) and Google is seventh (2%). Interestingly, this report places technology on top of the most impersonated sectors.

Results are similar in other reports. Vade Secure researched 2020 in its entirety and, for the third year in a row, places Microsoft at the top of the list of the most impersonated brands. Unsurprisingly, it also found that cloud services are the most impersonated verticals.

And its not just security vendors highlighting the risk of cloud apps. The Q4 Phishing Trends Report 2020 issued by the Anti-Phishing Working Group (APWG), illustrates similar findings, placing SaaS / webmail at number two amongst the most targeted industries in Q4 2020. Having held the top spot for several quarters, it was overtaken by financial institutions.

Despite minor differences across the studies, they all agree and confirm that cloud credentials are top-of-mind for phishers. The pandemic has accelerated the adoption of the cloud as it has been found to be a conveniently rapid and outsourced method of responding to the immediate challenges of mobility and the multichannel provision of resources and business tools. The bad guys have quickly moved to monetise this trend.

Phishing from the Cloud, for the Cloud

As well as being the most impersonated brands, SaaS / IaaS applications also offer an ideal infrastructure to deliver phishing pages. As we know, they provide simplified hosting for the attackers; they present the user with a legitimate domain, a legitimate certificate, and are implicitly trusted. All too often, they are whitelisted by legacy technologies that either cant perform TLS decryption at-scale or simply lack the context of the connection and cant recognise if the traffic is going to a corporate instance or a rogue instance of a cloud application.

Again, the numbers dont lie. According to phishstats.info, in its Top 50 exploited ISPs for phishing so far in 2021, Google ranks number three, Amazon number six, and Microsoft number 11. Of note, three out of 10 domains appearing in the Top 10 Hosts are Google domains such as docs.google.com or drive.google.com.

Serving a fake login page for a cloud service from the same platform (or a cloud platform of the same brand) is easy pickings for cyber criminals providing more legitimacy to the attack and increases its chance of success. This is especially true for Microsoft and Google.

In the following example, Microsoft Forms is abused to host a Fake Microsoft Team (sic) login page:

I know what you are thinking and I know the answer: no, the simple layout and the disclaimer about the submitted data do not make this attack harmless, and neither do the efforts of the cloud service providers to take down these pages in a timely fashion. Shutting down similar pages takes much longer than setting them up despite them being replicable in different instances.

When its time to perpetrate a malicious activity, the bad guys can leverage the full potential of a cloud service, even when the latter offers a limited flexibility. As identified by the AWPG report mentioned earlier, Financial Institutions is the most targeted vertical for phishing. There are many examples of financial institutions mimicked on Google Forms. The one below shows the creativity threat actors apply to Google Forms serving quite a sophisticated American Express login page, which is clever given the limitation of Google Forms.

These are two extreme examples, but there are enough cloud platforms out there to build very convincing pages to mimic virtually any service belonging to any vertical. The screen shot below shows a fake Microsoft 365 page hosted on Google Firebase.

Cloud Services Are Reshaping the Phishing Landscape

It is evident that cloud services offer multiple attack surfaces to phishers. They are now the main entrance to corporate assets, and this explains why they are ranked at the top of the targeted sectors. At the same time, they are the ideal place to serve phishing pages:

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Bitcoin (BTC USD) Cryptocurrency Price Rebounds After SEC Confirmation Hearing – Bloomberg

March 4, 2021 | Author: admin
  1. Bitcoin (BTC USD) Cryptocurrency Price Rebounds After SEC Confirmation Hearing  Bloomberg
  2. What Is Bitcoin?  Forbes
  3. More Institutional Investors Jumping Into Bitcoin Leaves Less to Go Around, Data Shows  Yahoo Finance
  4. Bitcoin Heading Northbound as BTC ETF Holdings Surge  FX Empire
  5. After the rout: Bitcoin rallies back above $50,000  Aljazeera.com
  6. View Full Coverage on Google News

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Bitcoin (BTC USD) Cryptocurrency Price Rebounds After SEC Confirmation Hearing - Bloomberg

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The Bitcoin Boom And The Quantum Threat – Forbes

March 4, 2021 | Author: admin

Could Bitcoin become the worlds new reserve currency? As Bitcoin increasingly goes mainstreamwith PayPal PYPL , for example, adopting the high-flying cryptocurrency as a method of payment and Twitters TWTR Jack Dorsey endorsing its usesome commentators certainly think so.St. Louis Federal Reserve president Jim Bullard even issued a statement that Bitcoin poses no threat to the U.S. dollar in the global economya case of trying to lock the barn door before the horse has even gotten inside.

The appeals of Bitcoin to investors and financial institutions are many. Unlike government-issued currencies, the Bitcoin supply is carefully limited, which points to a monetary stability reminiscent for some of the palmy days of the gold standard. In addition, Bitcoin uses an encryption system that protects every transaction inside a ledger shared by all participants, forming whats known as a blockhence the term blockchain. Some have dubbed blockchain the biggest innovation in banking since electronic markets were first introduced.According to tech guru George Gilder, blockchain encryption is even going to be the safeguard of the future digital economy, promising user flexibility as well as protecting privacy and security.

Or will it? Almost two and a half years ago I ran a column here on the dangers a large-scale quantum computer would pose to blockchain.I wrote:

Quantum technology will be poised to decrypt the complex algorithms that asymmetric encryption systems use to secure almost all electronic data, including blockchain. More specifically, blockchains rely on ECC Elliptic Curve Cryptography for authentication which can be broken by future quantum computers. So instead of the answer to all our cybersecurity vulnerabilities, blockchains could become just as vulnerable as web browsers, VPNs, and other systems.

Now, as the Bitcoin boom grows, others are starting to ask the same question.Some harken back to 2017, and a study done by Divesh Aggarwal of the National University of Singapore when Bitcoin was last on the way to a record high.Aggarwal was forced to conclude the threat of future quantum computers to Bitcoin was real, and the danger could not be ignored.

Others still insist that the quantum computer threat is hype.A December 2020 column at forbes.com by Roger Huang confidently titled, Heres Why Quantum Computing Will Not Break Cryptocurrencies, asserted that quantum computers being added to the mix wont suddenly render classical modes of encryption useless or mining trivial quantum supremacy now doesnt mean that your encryption or the security of bitcoin is at risk right at this moment. (My emphasis).

Most of the commentary on Bitcoin and quantum computers, however, runs the other way. One month later an article in Cointelegraph pointed out, just as I did, that powerful quantum computers might become a threat to all blockchains that rely on the ECDSA (Elliptic Curve Digital Signature Algorithm), including Bitcoin and Ethereum.

A recent Deloitte report takes a deeper dive into the technical weeds, and points out there are two types of transactions going on with Bitcoin.The first stores its operations using a pay to public key (p2pk) which was the dominant address in Bitcoin in its early days.In fact, the report points out, many of the original coins mined by founder Satoshi Nakamoto himself are still stored in these addresses.

The problem is, since all transactions in Bitcoin are public, anyone can obtain the public key from any p2pk address. A quantum computer running Shors algorithm could then use that key to crack the private keythat is, unless proper quantum-resistant defenses are in place. More on this later.

In the second type of Bitcoin transaction, the address of the recipient is composed of a hash of the public key, i.e. a one-way cryptographic function called pay to public key hash (p2pkh). That means the public key is not directly revealed by the address.At first glance, that should mean that transactions using these addresses should be far safer and more secure.

Unfortunately, as the Deloitte report explains, thanks to future quantum computers decrypting prowess, all coins in p2pk addresses and p2pkh addresses used more than once, are going to be just as vulnerable to quantum attack. Even if quantum computers do not evolve faster than experts currently predict, the report concludes, Quantum computers are posing a serious challenge to the security of the Bitcoin blockchain.

Faced by these facts, even Roger Huang is forced to admit, The real threat is when quantum computers become many scales larger than they currently are.He adds, Its conceivable that these avenues of attack and perhaps other more unpredictable ones might emerge. Fortunately, cryptocurrencies can be updated to use post-quantum encryption standards and defend against these weaknessesa point I made in my original column in 2018.

Everything depends, then, on two factors.The first is how fast large-scale quantum computers evolvethe question being not if they are coming, but when.The second is, how much risk are Bitcoin investors willing to assume, and how long are the companys foundersor even governments whose citizens are exposed to the quantum computer riskwilling to wait until they take the necessary steps to protect against quantum computer break-ins by using post-quantum cryptography; adopting post-quantum secure blockchains from companies like Quantum Resistant Ledger; and eventually turning to distributed ledger technology whose nodes actually rely on quantum computers.

Before the Bitcoin boom becomes a Bitcoin bubble, lets ask whats really needed to make sure the cryptocurrency future is as bright as its advocates like to assume.

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Institutions Are Making Bullish Bets on Bitcoin Rallying to $75K by May Or Even Higher – Yahoo Finance

March 4, 2021 | Author: admin

Institutional traders look to be positioning for a bitcoin price rally to $75,000 and beyond in coming months, according to options market data.

On Monday, some block traders took bull call spreads at $75,000 and $100,000 strike call options expiring on May 28 via over-the-counter (OTC) trading and settlement desk Paradigm, Swiss-based options analytics platform Laevitas told CoinDesk. These could be institutions betting that bitcoin will hit at least $75,000 by summer.

A call option gives the holder the right but not the obligation to buy the underlying asset at a predetermined price on or before a specific date. A bull call spread involves buying call options at/below or above the spot market price and selling an equal number of calls with the same expiry at a higher strike price.

Related: Are Negative Interest Rates Globally Driving Growing Interest in Crypto?

For instance, at 20:23 UTC (5:23 p.m. ET) on Monday, a trading entity bought 100 contracts of the May 28 expiry call option at $75,000 strike and sold 100 contracts of the May 28 expiry call option at $100,000 strike. Bitcoin was trading at $48,721 when the call spread was bought.

Institutions tend to trade through OTC desks to avoid influencing spot market prices. Trades facilitated by Paradigm are automatically executed, margined and cleared at Deribit, the worlds largest crypto options exchange by trading volume.

The trade cost 4.75 BTC, which is the maximum loss the institution would suffer if bitcoin ends at or below $75,000 on May 28.

The initial cost would have been much higher if the trader had only bought $75,000 calls. The purpose of the call spread is to have a bullish direction but offset the costs of merely buying calls, Laevitas said.

Related: Bitcoin Treasure Hunt Combines Art and Prize of $10,000 in BTC

While selling $100,000 calls has bought down the cost, it also limits maximum return possible to 20.25 BTC. The strategy will earn a maximum profit if bitcoin settles at or above $100,000 on May 28. Several other call spreads were bought on Monday at strikes ranging from $52,000 to $100,000.

Story continues

The data shows institutions remain undeterred by the recent price pullback and foresee a continued rally over the next three months.

At press time, bitcoin is changing hands near $48,730, representing a 1.8% gain over 24 hours. The cryptocurrency was rejected above $50,000 during Asian hours, according to CoinDesk 20 data.

While the cryptocurrency has bounced up from lows near $43,000 observed over the weekend, some analysts believe the pullback may not be over yet.

Also read: Bitcoin Briefly Climbs Back Above $50K for First Time in Six Days

At the moment, we think the biggest risk to bitcoin is the short-term risk associated with a downturn in the U.S. and global equities, said Joel Kruger, currency strategist at LMAX Digital. We think theres still room for more weakness ahead and would caution against expectations that the bottom is in.

Futures tied to the S&P 500 are currently down 0.23% on the day. Losses may deepen, adding to bearish pressures around bitcoin if U.S. Treasury yields resume their rally.

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Institutions Are Making Bullish Bets on Bitcoin Rallying to $75K by May Or Even Higher - Yahoo Finance

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A major Chinese bitcoin mining hub is shutting down its cryptocurrency operations – CNBC

March 4, 2021 | Author: admin

A visual representation of the cryptocurrency bitcoin.

S3studio | Getty Images

GUANGZHOU, China China's Inner Mongolia region plans to ban new cryptocurrency mining projects and shut down existing activity in a bid to cut down on energy-consumption.

Bitcoin is based on a decentralized network, which means it's not issued by a single entity like a central bank. Transactions, recorded on a public ledger called the blockchain, need to be "verified" by miners.

These miners run purpose-built computers to solve complex mathematical puzzles that effectively allow a bitcoin transaction to happen. The miners receive bitcoin as a reward and that is the incentive.

But because the computers are high-powered, they consume a lot of energy.

Bitcoin mining consumes an estimated 128.84 terrawatt-hour per year of energy more than entire countries such as Ukraine and Argentina, according to the Cambridge Bitcoin Electricity Consumption Index, a project of the University of Cambridge.

China accounts for around 65% of all bitcoin mining globally Inner Mongolia alone accounts for about 8%, due to its cheap energy. In comparison, the United States accounts for 7.2% of global bitcoin mining.

Not all cryptocurrencies work like bitcoin, however.

Inner Mongolia, located in northern China, failed to meet central government assessment targets regarding energy use in 2019 and was scolded by Beijing. In response, the region's development and reform commission laid out plans to reduce energy consumption.

Part of those plans involve shutting down existing cryptocurrency mining projects by April 2021 and not approving any new ones. They also involve reassessing other energy-intensive industries like steel and coal.

While the Chinese government has backed the development of bitcoin's underlying blockchain technology, it has looked to crack down on digital currencies themselves. In 2017, Beijing banned initial coin offerings, a way to issue digital tokens and raise money. The government has also cracked down on businesses involved in cryptocurrency operations, such as exchanges.

China is also pushing to become more environmentally friendly.President Xi Jinping said last year that the country is targeting peakcarbon dioxide emissions by 2030 and carbon neutrality by the year 2060.

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A major Chinese bitcoin mining hub is shutting down its cryptocurrency operations - CNBC

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Bitcoin Tumbles to $43K, Lowest in Three Weeks – Yahoo Finance

March 4, 2021 | Author: admin

Bloomberg

(Bloomberg) -- The main fund from Cathie Woods Ark Investment Management slipped in pre-market trading on Thursday, looking set to extend its 20% drop from a February peak.The $22.9 billion Ark Innovation ETF (ARKK) was down 2.5% as of 5:30 a.m. New York time. The ETF tumbled 6.3% on Wednesday alone as growth stocks such as Pinterest Inc. and Zillow Group Inc. took a beating, highlighting a swift turnaround for the formerly high-flying fund.Futures on the Nasdaq 100 Index were pointing to a red open after the underlying gauge lost almost 3% on Wednesday, with traders turning away from tech in favor of so-called value stocks that had underperformed during the pandemic. The rotation, along with higher bond yields that dim the allure of equities, is taking the shine off what had been one of the hottest investments on Wall Street.Since peaking on Feb. 12, ARKKs price has now dropped by a fifth, the level that commonly defines a bear market.People are worried the crowded trades will lose their momentum like they did last September when some of the biggest tech names suffered a bout of selling, said Matt Maley, chief market strategist at Miller Tabak + Co.Yields on benchmark 10-year Treasury notes have jumped more than 50 basis points in 2021, on track for the largest quarterly increase since 2016. Consequently, its growing more difficult to justify sky-high valuations for highly speculative, expensive areas of the stock market.ARKKs three largest holdings, Tesla Inc., Square Inc. and Roku Inc., have about tripled over the past year. Tesla is up close to 350%, while Square has surged about 200% and Roku is up more than 240%. They were all down in pre-market trading after slumping on Wednesday.In fact, all but three stocks held by ARKK fell and three suffered losses exceeding 10%, including Stratasys Ltd., a maker of 3D printers, and Veracyte Inc., which develops molecular tests for oncology.The funds tilt toward long-term growth means short-term profitability isnt a key consideration when stocks are picked. In fact, two-thirds of its current holdings didnt make a profit in the past year. And even after the recent losses, ARKK is still slightly up for the year.Inflows to the fund have faltered in the past week, but theres yet to be a mass exodus. ARKK took in more than $600 million combined the past two days, after losing more than $690 million last week in its worst five-day period on record.There is growing unease in the markets and whether higher-risk asset classes can continue to climb, said Michael Purves, chief executive officer at Tallbacken Capital Advisors. If sentiment turns, you can see substantial outflows.(Updates for Thursdays pre-market moves)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.2021 Bloomberg L.P.

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