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Bitcoin [BTC] Bulls on their Marks above $8500, Analysts Point to the Last Stand for Bears – Coingape

Bitcoin [BTC] bounces back above $8200 breaking the parallel channel resistance around $8450.

The upside is now showing potential of the beginning of a macro bull run. Nevertheless, there are still resistances to over-come before confirmation on technical charts.

The daily high logged on spot exchanges is $8677.The price of Bitcoin [BTC] at 3: 15 hours UTC on 27th January is $8619.

According to leading analysts, $8650 marks an important area for bullish continuation. Derivatives and crypto trader, TraderXO, tweeted,

Coming into resistance at the weekly mid range of 88s Im currently short from 8640s 1/3rd size filled further asks higher up Targeting low 82s 8150s Clear invalidation level for me is closing above the weekly mid

Not only TraderXO, but also other prominent traders like George and SalsaTekila are in anticipation of resistance at $8650. George tweeted,

If we dont reject around 8650 and close the day strong, Ill close shorts and flip bull. Lets see.

Moreover, the 200-Day Moving Average at $8915 continues to act as the last big hurdles for bulls.

Nevertheless, while the resistance levels are intact, the price also moved above the long-term bear channel once again weakening the bearish sentiments.

The weekly close in the price was above $8500 at $8590. The price look strong above the 50-period moving average at $8000.

Bitcoin [BTC] price records yet another CME gap, nevertheless, this time-around it is a bearish one. The futures contract prices opens with a $100 gap at $8595 yesterday.

Moreover, similar to spot, the 200-Day Moving average seems to be acting as the critical region of support and resistance at the moment. The price has witnessed a bullish and bearish deviation, and is again attempting to make a run for it.

Do you think the bullish run will continue or is it another bull trap? Please share your analysis with us.

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Bitcoin [BTC] Bulls on their Marks above $8500, Analysts Point to the Last Stand for Bears

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Bitcoin [BTC] bounces back above $8200 breaking the parallel channel resistance around $8450.

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Nivesh Rustgi

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CoinGape

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Bitcoin [BTC] Bulls on their Marks above $8500, Analysts Point to the Last Stand for Bears - Coingape

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Renowned analysts comment on Bitcoin, Ethereum, and XRP as the uptrend resumes – CryptoSlate

The cryptocurrency market appears to have started the week on a positive posture as the top cryptos by market cap are already posting significant gains. Now, some of the most prominent technical analysts in the industry have laid out their perspectives about Bitcoin, Ethereum, and XRP. The following technical analysis evaluates what these chartist have to say.

In a recent tweet, 45-year trading veteran Peter Brandt pointed out that there are many reasons to believe that the uptrend Bitcoin entered since the beginning of the year could continue unfolding.

Despite the 10 percent plunge that the flagship cryptocurrency suffered recently, Brandt maintains that there is a significant level of support around $8,400. This price hurdle is defined by the upper boundary of a descending parallel channel, the 18-day moving average, and the 3-day trailing stop rule, according to the analyst.

If this support level fails to contain the price of BTC, then Brandt expects that a more serious correction could take place.

The moving averages on BTCs 1-day chart tell a similar story. Bitcoin is sitting at a pivotal point as it continues to trade within the 200 and 150-day moving averages. The pioneer cryptocurrency has been contained within this trading range since Jan. 13. As a result, it can be considered that a daily candlestick close above or below this area could likely determine where it is heading next.

On the upside, a spike in demand could take Bitcoin to break above the 200-day moving average. Turning this significant resistance level into support could be one of the strongest signals that BTC is about to enter a major bull rally.

Conversely, if the selling pressure increases and BTC breaks below the 150-day moving average it could try to test the next level of support provided by the 50-day moving average. This price barrier sits at $7,750.

Michal van de Poppe, a full time trader based in Amsterdam, believes that an interesting week is coming up for Ethereum. According to the chartist, Ether is looking way better than Bitcoin due to the recent support and resistance flip.

The fact that ETH was able to bounce off the $155 support level strongly, leads Poppe to believe that it could now be heading to the next level of resistance that sits around $194.60.

Such an optimistic scenario, as the one presented by Poppe, seems extremely possible. The recent correction took Ethereum down to test the middle Bollinger band. Since this support level was able to prevent ETH from dropping further, a rebound to the upper Bollinger band could be expected.

Additionally, the TD sequential indicator presented a buy signal the moment the current green two candlestick began trading above the preceding green one candle. This bullish formation could be estimating that the correction is over and now ETH is bound for another upswing. At the moment, the risk like sits at $194, which coincides with Poppes bullish target.

IntoTheBlocks In/Out Money model estimates that if Ethereum indeed continues its uptrend, the next major point of resistance sits at approximately $190. This technical tool considers the distribution of Ether throughout individual wallets based on the current price.

Under this premise, there are 3.43 million addresses with balances between $180 and $205 containing 8.56 million ETH, which could serve as resistance. However, if the bullish impulse is strong enough to break through this barrier, the next significant level of resistance sits around $205 and $253. There are over 4 million addresses carrying nearly 11.7 million ETH around this price level.

On the downside, there is an important level of support between $143.50 and $163.60, since 2.7 million addresses are holding 16.81 million ETH.

CryptoBull maintains that XRP is preparing for a parabolic advance. The analyst explained that the moving average convergence divergence (MACD) is printing the same sequence as it usually does before this crypto enters a bull trend, based on the 1-week chart. Now, he is waiting for the 50 and 100-week moving averages to form a golden cross, which could serve as the last piece of information needed to confirm a potential rally.

Despite CryptoBulls bullish outlook, the TD sequential indicator is currently presenting a sell signal on XRPs 3-day chart. The bearish formation is a green nine candlestick that transitioned into a red one candle. This technical index estimates that a spike in sell orders could trigger a one to four candlestick correction or the beginning of a new bearish countdown.

Due to the ambiguity that XRP presents, the trading range between $0.218 and $0.245 is a reasonable no-trade zone. Breaking above or below this consolidation area could determine where XRP is heading next.

If the buying pressure behind this cryptocurrency increases allowing it to breakout of the no-trade zone in an upward direction, the next significant level of resistance to consider sits at $0.30. Nonetheless, an increase in the selling pressure behind XRP could take it to test the $0.20 support level.

Based on the point of view of the analysts mentioned above, it seems like the top three cryptocurrencies by market cap are about to resume their uptrend. If their respective support levels are able to hold, then they could be about to go through an interesting week as Michal van de Poppe stated. Nevertheless, it remains to be seen whether a spike in volume would allow XRP to invalidate the bearish outlook presented by the TD sequential indicator allowing it to surge as it is expected for the rest of the market.

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Renowned analysts comment on Bitcoin, Ethereum, and XRP as the uptrend resumes - CryptoSlate

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Notes From the WEF: Oil-Producing Nations Want Dollar Alternatives, Just Not Bitcoin – Coindesk

DAVOS, Switzerland Most Middle Eastern elites at the World Economic Forum are highly skeptical of bitcoin, but there are whispers about its potential for cross-border settlements in the energy sector.

According to Egyptian businessman M. Shafik Gabr, chairman of the ARTOC Group for Investment & Development, some Middle Eastern nations are already exploring the possibility of settling oil contracts in bitcoin. But he declined to specify which, and most of the leaders gathered in Davos for the annual conference that wrapped up Friday are adamant they see bitcoins post-sovereign nature as anathema.

Fellow Egyptian investor Ahmed Heikal, CEO of Qalaa Holdings, said hes not bullish on bitcoin because it doesnt have the legal framework for such wholesale deals. If nations or energy enterprises are to use bitcoin, he argued, it wont be for at least another decade.

Delegates from Oman to the United Arab Emirates and Saudi Arabia all expressed similarly dismissive views about bitcoin as an asset, often referring to it as a gambling conduit. But when asked if it could still be used to settle oil contracts especially considering the United States aggressive economic pressure on energy exporters Iran and Iraq one Omani politician, who did not want to be identified, teased, It depends on who's asking.

U.S. sanctions are top-of-mind across the region, as when President Donald Trump urged Europe not to trade with unfriendly energy suppliers. Iraqi President Barham Salih pushed back with a speech on Wednesday that asserted it was Iraqs sovereign right to have relations with neighbors on its own terms.

Saudi Arabian businessman Hamza Alkholi, CEO of Al-Kholi Group, dismissed the idea that bitcoin-denominated oil contracts could ever be more than an outlier.

Weve been trying for 30 years, he said, referencing efforts to move beyond the U.S. dollar by settling oil contracts in euros. Until bitcoin is regulated like the stock market, I dont see that happening.

Crescent Enterprises CEO Badr Jafar, who is heavily invested in the oil and gas industry, agreed theres no urgency among most players in his industry to move away from the dollar. Leaders and businessmen still dont trust cryptocurrency, Jafar said, and he expects central banks would push back if bitcoin gained more significant usage.

However, if oil contracts were to be settled in currencies beyond the dollar, Jafar said that might be driven by political factors related to Russia and China.

And soon there will be a digital currency issuer eager to help dollar-weary energy suppliers find alternative settlement systems. Equally concerned about trust, China is hyper-focused on both compliance and global market opportunities.

China's new Silk Road?

Chinese businesspeople see Eurasian crypto ventures as a stepping stone toward addressing more complex commodities markets.

China Blockchain Delegation Chairman Danny Deng said Chinas blockchain-based currency, which he expects the Peoples Bank of China (PBoC) to launch on a limited scale in 2020, could offer a backbone for energy markets.

Bitcoin has a larger and larger ecosystem, but it still cant afford the trading volume of such a commodity, Deng said. The traders of oil and gas are using leverage. That leverage must be backed by financial systems. Regions, like Iran may use bitcoin or other payment systems. But other countries that dont have this problem may play an important role in national [cryptocurrency] settlements.

From his perspective, fiat currency has become too political, rather than a strictly commercial tool. One of Chinas most revered bitcoiners, Wang Wei, a leader of nearly a dozen associations from the Shanghai Stock Exchange Corporate Governance Advisory Committee to the China Mergers and Acquisitions Association, said bitcoin lost its chance to be the dominant currency for settlements and will instead primarily be a store of value.

Several Chinese businessmen who work with the government and PBoC agreed the bank could offer an alternative to dollar settlement systems by 2021. For example, Zhang Shousong, secretary general of the China Blockchain Application Center, said by the next Davos conference PBoCs digital currency will be operational not only in China, but all over the globe.

Given the tenor of public officials statements, Deng said cryptocurrency rails are on a fast track. Shousong added its not like Libra, its certainly going to launch, referring to the Facebook-initiated global currency project whose debut remains uncertain.

In the meantime, Wei has taken Chinese-speaking Kazakhstani entrepreneur Tilektes Adambekov under his wing and helped the latter establish the licensed EBX crypto exchange in Kazakhstan, the worlds 10th-largest oil exporter. Adambekov joined the Chinese delegation for lunch in Davos to discuss the future of global markets over foie gras and fig chutney in a mountaintop restaurant with a panoramic view. Adambekov quoted Mao Zedong in a thank you speech to the delegation, which prompted resounding applause.

From the delegations perspective, Adambekov is a perfect fit for Chinas aspirations. He spent eight years working in China before returning home to focus on serving Russian-speaking crypto markets across borders. Plus, Kazakhstan has an open regulatory framework and is strategically situated along the path of Chinas Belt and Road initiative. Adambekov said his exchange aims to support tokenized oil and gas options, settled in national cryptocurrencies yet offering bitcoin liquidity.

From China to Oman, all businesspeople and diplomats agreed the dollar will remain king in commodities markets for the near future. But alternative options may already be on the horizon.

When asked if such options could usurp the greenback by 2025, Matthew Blake, the World Economic Forum's monetary systems lead, said the dollars role is so pronounced that to displace it in a meaningful way would take longer than four years.

Bitcoin may, or may not, participate in that shift.

Bitcoin has demonstrated some of the qualities that a distributed currency can possess, Blake said. Its also had challenges too. The role of a currency is to have a store-of-value with an inherent level of stability. There needs to be liquidity. In the case of bitcoin, it hasnt had those qualities thus far.

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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Notes From the WEF: Oil-Producing Nations Want Dollar Alternatives, Just Not Bitcoin - Coindesk

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Bitcoin, ETH, XRP, And LTC Rally Fades: What’s Next? – Forbes

INDIA - 2020/01/23: In this photo illustration a Cryptocurrency Bitcoin logo seen displayed on a ... [+] smartphone. (Photo Illustration by Avishek Das/SOPA Images/LightRocket via Getty Images)

Fortunes are changing in cryptocurrency markets. A rally that began three weeks ago lost steam last week.

By Saturday evening, Bitcoin was down 6.43%, ETH was down 7.38%, XRP was down 8.44%, and LTC dropped 11.20%. Bitcoin slid back towards the key $8,000-mark.

The retreat was board with only 18 out of the top 100 cryptocurrencies advancing and 82 dropping.

That's a significant change from the previous when 90 cryptocurrencies advanced out of the top 100.

And it came as the spread of coronavirus unsettled financial markets.

That should have come as a surprise to digital asset experts. Bitcoin has emerged as a safe-haven asset in times of global uncertainties, according to some studies. And should have been rallying rather than retreating last week.

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Is Bitcoin's pull-back just the pause of the rally or something more serious?

Christopher Brookins, Founder and CIO at Valiendero Digital Assets, thinks that Bitcoin is re-affirming his previous position that the rally takes a "breather."

"At the time of writing, the Hurst Exponent is still recovering from oversold levels and its recent "breather," with a value of 0.52, he says. The resumption in upward trajectory after its brief consolidation and value still being far from overbought territory bodes well for price in the near to mid-term."

Brookins' estimates apply the Hurst exponent (H) model, which is rooted in mathematics founded by Benoit Mandelbrot, to determine if a financial market is trending or not.

Screen Shot 2020-01-25 at 7.40.21 PM

He's watching the $8400 (short-Kumo Cloud) and $8600 (long-Kumo Cloud), but he remains bullish in the digital currency, in the face of the upcoming halving.

And he sticks in his previous prediction that ETH price increases are unlikely to last for a sustained period, and that will lag behind BTC.

"As stated prior, given the dramatic reversal in Hurst values to overbought, ETH price increases are unlikely to last for a sustained period in 2020," he says. "Furthermore, given the divergence between ETH and BTC Hurst values, we expect BTC to begin demonstrably outperforming ETH over the coming weeks and months."

Screen Shot 2020-01-25 at 7.52.55 PM

He also sticks with his prediction that LTC price increases are unlikely to last for a sustained period. They will also lag behind BTC.

"As stated prior, given the dramatic reversal in Hurst values to overbought, LTC price increases are unlikely to last for a sustained period in 2020," he adds. "Furthermore, given the divergence between LTC and BTC Hurst values, we expect BTC to begin demonstrably outperforming LTC over the coming weeks and months."

Screen Shot 2020-01-25 at 7.58.50 PM

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Bitcoin, ETH, XRP, And LTC Rally Fades: What's Next? - Forbes

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HODL Strong: Over Half of The Bitcoin Supply Hasnt Moved in Over a Year – newsBTC

The term HODL is an acronym derived from the phrase hold on for dear life, which became a widely popular recommendation for investors to remain steadfast in when Bitcoins notorious volatility peaks.

It appears that crypto investors are taking note of the tip and holding strong, as more than half of the entire Bitcoin supply has been dormant in over a year.

Bitcoin was designed to offer many unique attributes that are a benefit over the fiat currencies that make the world go round today.

While central reserves such as the Fed can simply print more and more fiat currencies, Bitcoin, however, is digitally hard-capped so that the supply is limited to only 21 million BTC.

Related Reading | Bitcoin Stock-To-Flow Model Updated To Account for Satoshis 1 Million BTC

The scare supply is just one of the many attributes that give Bitcoin its value as a disruptive financial asset.

The idea is that due to the cryptocurrencys limited supply, it becomes easy for the scales to tip in favor of demand, causing the assets value to rise due to simple supply and demand market dynamics.

However, there is an overlooked factor that may be causing Bitcoins supply to function as if it was even more limited: the HOLD effect.

Those who have spent any period of time holding Bitcoin should be well accustomed to the wild volatility the asset is known for, causing massive price fluctuations driven by speculation.

Those who decide to trade Bitcoins peaks and troughs oftentimes get chopped up in the volatility, resulting in massive losses of capital.

But rather than trying to sell tops and buy dips, along the way, crypto investors wised up and realized that simply holding Bitcoin and other crypto-assets oftentimes resulting in a better ROI.

It has resulted in a phrase coined that reminds crypto investors to hold on tight, dubbed HODL, or hold on for dear life.

Crypto investors are, according to new data, taking this tip to heart, and are holding their Bitcoin tight.

So tight, in fact, that over half of the Bitcoin supply has remained dormant for a period of one year or longer. Of Bitcoins limited 21 million BTC supply, over 12.58 million BTC has remained dormant for a period of one year or more.

It also suggests that those who bought Bitcoins current bear market bottom in December 2018 at around $3,100, are likely to remain confident that the bottom is in, and wont be selling the asset anytime soon.

Related Reading | Poll Reveals Majority of Crypto Investors See Bitcoin Price at $100,000 to Millions Long-Term

Bitcoin is expected to reach prices of $100,000 to as much as one million dollars per BTC in the future, prompting many to accumulate the asset for the sake of buying and holding for the long-term.

With a financial opportunity like that in front of investors, its no surprise theyre not seeing and instead are holding strong.

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HODL Strong: Over Half of The Bitcoin Supply Hasnt Moved in Over a Year - newsBTC

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The Coronavirus Hedge? Bitcoin And Gold Rising Together As Chinese Lockdown Expands – CryptoPotato

Bitcoins price surged 6% in 48 hours from the $8250 handle to above $8770. The price movements come as the coronavirus continues to spread in China. The Wuhan virus epidemic continues to plague throughout the country and abroad. Medical authorities confirmed a fifth case of the SARS-like virus in the United States. Much broader markets like the U.S. equities have been affected by coronavirus fears. Its quite likely Bitcoin is getting caught up in the turbulence.

On Sunday, the Centers for Disease Control confirmed the fifth case of coronavirus in the United States, this time in Arizona. Authorities have diagnosed U.S. residents infected with the Wuhan virus across the country. They live in Washington state, Chicago, Orange County, and Los Angeles County, California. They all recently visited the Chinese city of Wuhan.

Meanwhile, China has taken drastic measures to respond to the crisis. The urgent response underscores the seriousness of the epidemic. The government has quarantined the city, locking down two other towns as well, and plans to build a hospital in just six days to treat patients.

Markets have taken notice. The New York Stock Exchange nervously retreated for the fourth consecutive day Friday. Over the weekend, Dow Jones Industrial Average futures sank with growing dread over the financial cost of the virus. At Mondays open, the Dow took another plunge. Oil prices are down 10% as the panic continues. But the Bitcoin price and spot gold have surged.

Historically, gold has been a global macro hedge against uncertainty and economic slowdowns. But digital gold has stepped into that role as well. Bitcoin was designed in a way that digitally simulates the properties of gold (scarcity, durability, portability, and fungibility). Studies of its price actions have shown Bitcoin to be every bit as much an uncorrelated asset as gold.

When capital flees from bonds and equities, it usually takes shelter in harder assets like gold and even Bitcoin. Thats ironic. All but the most rabid Bitcoin hodler on the lunatic fringe of crypto adoption would say Bitcoin is very risky.

If the coronavirus spreads throughout China and further, it could wreak economic devastation. Sick people arent very productive people. And they dont make great consumers either. If everyone stays inside, doesnt travel, doesnt work, doesnt shop the economy will slow down. But in the best case scenario, with a perfect Chinese response that contains the epidemic, the containment response itself can disrupt the economy.

The disruptions wont be locally or regionally confined either. Wuhan is an important transportation hub. But its been knocked out of the global network. China is the worlds second-largest economy by GDP. But market analysts say the coronavirus quarantines and travel bans will knock GDP down in the first quarter.

If the crisis worsens, it might be the case that investors will seek protection for their money in assets that are uncorrelated to the traditional financial and stock markets. As stated above, Bitcoin and gold have already displayed those qualities.

Bitcoin is already up more than 2.5% on the day, while gold charts an increase of about 0.5% in the past 24 hours alone.

Disclaimer: This article is the opinion of the author, and does not represent professional financial or investing advice.

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The Coronavirus Hedge? Bitcoin And Gold Rising Together As Chinese Lockdown Expands - CryptoPotato

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Bitcoin Cash Just Broke $350 and $400 Seems Imminent: Heres Why – newsBTC

Bitcoin cash price started a strong rally from $300 and it gained more than 15%, whereas BTC is struggling near $8,700. BCH/USD could continue to rise towards $400 in the near term.

After getting rejected near $405, bitcoin cash price started a strong downside correction. BCH declined nearly $100 before the bulls took a stand near the $300 support.

A swing low is formed near $300 and the price restarted its upward move. It broke a major resistance area near the $320 level and the 100 simple moving average (4-hours) to move into a positive zone.

Moreover, there was a break above a major declining channel with resistance near $324 on the 4-hours chart of the BCH/USD pair. It opened the doors for more gains above the 50% Fib retracement level of the key decline from the $404 high to $299 swing low.

Bitcoin Cash Price

Bitcoin cash price is now above the $350 level, but it is now facing a strong resistance near $365. It represents the 61.8% Fib retracement level of the key decline from the $404 high to $299 swing low.

If there is a successful break above the $365 resistance, the price is likely to continue higher towards the main $400 resistance area in the near term

There are slight chances of a minor correction if BCH bulls struggle to push the price above $365 resistance. In the mentioned case, an initial support is near the $350 level.

If there is an extended downside correction, bitcoin cash price might dive towards the $330 support. The main buy zone for the bulls is near the $320 level and the 100 simple moving average (4-hours).

Technical indicators

Hourly MACD The MACD for BCH/USD is currently gaining strong pace in the bullish zone.

Hourly RSI (Relative Strength Index) The RSI for BCH/USD is now well above the 50 level, with a bullish angle.

Key Support Levels $350 and $330.

Key Resistance Levels $365 and $400.

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Bitcoin Cash Just Broke $350 and $400 Seems Imminent: Heres Why - newsBTC

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Sorry Bears, Bitcoin Is Still In Mid-Term Uptrend: Heres Why – newsBTC

Bitcoin started a downside correction from the 2020 high at $9,191 against the US Dollar. However, BTC price is still in an uptrend and it could find buyers near $8,000 or $7,670.

After forming a short term top near the $9,191 level, bitcoin started a downside correction. BTC price broke the $9,000 and $8,800 levels to enter a bearish zone.

The bears were able to push the price below the 23.6% Fib retracement level of the last important rise from the $6,836 low to $9,191 high. Moreover, there was a daily close below the $8,500 support level.

Though, there are many important supports on the downside near the $8,200 and $8,000 levels. The main support is near the $8,000 level since it is close to the 100-day simple moving average.

Besides, the 50% Fib retracement level of the last important rise from the $6,836 low to $9,191 high is also near the $8,000 level. Therefore, dips remain supported on the downside if the price corrects further.

On the upside, the $8,500 zone is a major hurdle for the bulls. There is also a declining channel or bullish flag forming with resistance near $8,500 on the daily chart of the BTC/USD pair.

Bitcoin Price

Therefore, bitcoin needs to climb above the $8,500 and $8,540 resistance levels to start a fresh increase. Furthermore, a successful close above $8,600 might lead the price towards $9,000 and $9,200.

As stated, the $8,000 support is a major buy zone. If there is a downside break below $8,000, the next major support is near the $7,670 area.

The previous breakout zone was near $7,670 and now it coincides with the 61.8% Fib retracement level of the last important rise from the $6,836 low to $9,191 high.

Thus, a successful daily close below $7,670 or $7,600 could negate the current bullish view. In the mentioned case, the price is likely to revisit the $6,500 support area.

Technical indicators:

Daily MACD The MACD is slowly gaining momentum in the bearish zone.

Daily RSI (Relative Strength Index) The RSI for BTC/USD is still above the 50 level.

Major Support Levels $8,200 followed by $8,000.

Major Resistance Levels $8,500, $8,550 and $9,200.

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Sorry Bears, Bitcoin Is Still In Mid-Term Uptrend: Heres Why - newsBTC

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What Is Quantum Computing, And How Can It Unlock Value For Businesses? – Computer Business Review

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We are at an inflection point

Ever since Professor Alan Turing proposed the principle of the modern computer in 1936, computing has come a long way. While advancements to date have been promising, the future is even brighter, all thanks to quantum computing, which performs calculations based on the behaviour of particles at the sub-atomic level, writes Kalyan Kumar, CVP and CTO IT Services,HCL Technologies.

Quantum computing promises to unleash unimaginable computing power thats not only capable of addressing current computational limits, but unearthing new solutions to unsolved scientific and social mysteries. Whats more, thanks to increasing advancement since the 1980s, quantum computing can now drive some incredible social and business transformations.

Quantum computing holds immense promise in defining a positive, inclusive and human centric future, which is what theWEF Future Council on Quantum Computingenvisages. The most anticipated uses of quantum computing are driven by its potential to simulate quantum structures and behaviours across chemicals and materials. This promise is being seen guardedly by current scientists who claim quantum computing is still far from making a meaningful impact.

This said, quantum computing is expected to open amazing and much-needed possibilities in medical research. Drug development time, which usually takes more than 10 to 12 years with billions of dollars of investment, is expected to reduce considerably, alongside the potential to explore unique chemical compositions that may just be beyond the limits of current classical computing. Quantum computing can also help with more accurate weather forecasting, and provide accurate information that can help save tremendous amounts of agriculture production from damage.

Quantum computing promises a better and improved future, and while humans are poised to benefit greatly from this revolution, businesses too can expect unapparelled value.

When it comes to quantum computing, it can be said that much of the world is at the they dont know what they dont know stage. Proof points are appearing, and it is seemingly becoming clear that quantum computing solves problems that cannot be addressed by todays computers. Within transportation, for example, quantum computing is being used to develop battery and self-driving technologies, while Volkswagen has also been using quantum computing to match patterns and predict traffic conditions in advance, ensuring a smoother movement of traffic. In supply chains, logistics and trading are receiving a significant boost from the greater computing power and high-resolution modelling quantum computing provides, adding a huge amount of intelligence using new approaches to machine learning.

The possibilities for businesses are immense and go way beyond these examples mentioned above, in domains such as healthcare, financial services and IT. Yet a new approach is required. The companies that succeed in quantum computing will be those that create value chains to exploit the new insights, and form a management system to match the high-resolution view of the business that will emerge.

While there are some initial stage quantum devices already available, these are still far from what the world has been envisaging. Top multinational technology companies have been investing considerably in this field, but they still have some way to go. There has recently been talk of prototype quantum computers performing computations that would have previously taken 10,000 years in just 200 seconds. Though of course impressive, this is just one of the many steps needed to achieve the highest success in quantum computing.

It is vital to understand how and when we are going to adopt quantum computing, so we know the right time to act. The aforementioned prototype should be a wakeup call to early adopters who are seeking to find ways to create a durable competitive advantage. We even recently saw a business announcing its plans to make a prototype quantum computer available on its cloud, something we will all be able to buy or access some time from now. If organisations truly understand the value and applications of quantum computing, they will be able to create new products and services that nobody else has. However, productising and embedding quantum computing into products may take a little more time.

One important question arises from all this: are we witnessing the beginning of the end for classical computing? When looking at the facts, it seems not. With the advent of complete and practical quantum computers, were seeing a hybrid computing model emerging where digital binary computers will co-process and co-exist with quantum Qbit computers. The processing and resource sharing needs are expected to be optimised using real time analysis, where quantum takes over exponential computational tasks. To say the least, quantum computing is not about replacing digital computing, but about coexistence enabling composed computing that handles different tasks at the same time similar to humans having left and right brains for analytical and artistic dominance.

If one things for sure, its that we are at an inflection point, witnessing what could arguably be one of the most disruptive changes in human existence. Having a systematic and planned approach to adoption of quantum computing will not only take some of its mystery away, but reveal its true strategic value, helping us to know when and how to become part of this once in a lifetime revolution.

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What Is Quantum Computing, And How Can It Unlock Value For Businesses? - Computer Business Review

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The End Of The Digital Revolution Is Coming: Here’s What’s Next – Innovation Excellence

by Tom Koulopoulos

The next era of computing will stretch our minds into a spooky new world that were just starting to understand.

In 1946 the Electronic Numerical Integrator and Computer, or the ENIAC, was introduced. The worlds first commercial computer was intended to be used by the military to project the trajectory of missiles, doing in a few seconds what it would otherwise take a human mathematician about three days. Its 20,000 vacuum tubes (the glowing glass light bulb-like predecessors to the transistor) connected by 500,000 hand soldered wires were a marvel of human ingenuity and technology.

Imagine if it were possible to go back to the developers and users of that early marvel and make the case that in 70 years there would be ten billion computers worldwide and half of the worlds population would be walking around with computers 100,000,000 times as powerful as the ENIAC in their pants pockets.

Youd have been considered a lunatic!

I want you to keep that in mind as you resist the temptation to do the same to me because of what Im about to share.

Quantum Supremacy

Digital computers will soon reach the limits of demanding technologies such as AI. Consider just the impact of these two projection: by 2025 driverless cars alone may produce as much data as exists in the entire world today; fully digitizing every cell in the human body would exceed ten times all of the data stored globally today. In these and many more cases we need to find ways to deal with unprecedented amounts of data and complexity. Enter quantum computing.

Youve likely heard of quantum computing. Amazingly, its a concept as old as digital computers. However, you may have discounted it as a far off future thats about as relevant to your life as flying cars. Well, it may be time to reconsider. Quantum computing is progressing at a rate that is surprising even those who are building it.

Understanding what quantum computers are and how they work challenges much of what we know of not just computing, but the basics of how the physical world appears to operate. Quantum mechanics, the basis for quantum computing, describes the odd and non-intuitive way the universe operates at a sub-atomic level. Its part science, part theory, and part philosophy.

Classical digital computers use what are called bits, something most all of us are familiar with. A bit can be a one or a zero. Quantum computers use what are called qubits (quantum bits). A quibit can also be a one or a zero but it can also be an infinite number of possibilities in between the two. The thing about qubits is that while a digital bit is always either on (1) or off (0), a qubit is always in whats called a superposition state, neither on nor off.

Although its a rough analogy, think of a qubit as a spinning coin thats just been flipped in the dark. While its spinning is it heads or tails? Its at the same time both and neither until it stops spinning and we then shine a light on it. However, a binary bit is like a coin that has a switch to make it glow in the dark. If I asked you Is it glowing? there would only be two answers, yes or no, and those would not change as it spins.

Thats what a qubit is like when compared to a classical digital bit. A quibit does not have a state until you effectively shine a light on it, while a binary bit maintains its state until that state is manually or mechanically changed.

Dont get too hung up on that analogy because as you get deeper into the quantum world trying to use what we know of the physical world is always a very rough and ultimately flawed way to describe the way things operate at the quantum level of matter.

However, the difficulty in understanding how quantum computers works hasnt stopped their progress. Google engineers recently talked about how the quantum computers they are building are progressing so fast that that they may achieve the elusive goal of whats called quantum supremacy (the point at which quantum computers can exceed the ability of classical binary computer) within months. While that may be a bit of stretch, even conservative projections put us on a 5-year timeline for quantum supremacy.

Quantum vs Classical Computing

Quantum computers, which are built using these qubits, will not replace all classical digital computers, but they will become an indispensable part of how we use computers to model the world and to integrate artificial intelligence into our lives.

Quantum computing will be one of the most radical shifts in the history of science, likely outpacing any advances weve seen to date with prior technological revolutions, such as the advent of semiconductors. They will enable us to take on problems that would take even the most powerful classical supercomputers millions or even billions of years to solve. Thats not just because quantum computers are faster but because they can approach problem solving with massive parallelism using the qualities of how quantum particles behave.

The irony is that the same thing that makes quantum computers so difficult to understand, their harnessing of natures smallest particles, also gives them the ability to precisely simulate the biological world at its most detailed. This means that we can model everything from chemical reactions, to biology, to pharmaceuticals, to the inner workings of the universe, to the spread of pandemics, in ways that were simply impossible with classical computers.

A Higher Power

The reason for the all of the hype behind the rate at which quantum computers are evolving has to do with whats called doubly exponential growth.

The exponential growth that most of us are familiar with, and which is being talked about lately, refers to the classical doubling phenomenon. For example, Moores law, which projects the doubling in the density of transistors on a silicon chip every 18 months. Its hard to wrap our linear brains around exponential growth, but its nearly impossible to wrap them around doubly exponential growth.

Doubly exponential growth simply has no analog in the physical world. Doubly exponential growth means that you are raising a number to a power and then raising that to another power. It looks like this 510^10.

What this means is that while a binary computer can store 256 states with 8 bits (28), a quantum computer with eight qubits (recall that a qubit is the conceptual equivalent of a digital bit in a classical computer) can store 1077 bits of data! Thats a number with 77 zeros, or, to put it into perspective, scientists estimate that there are 1078 atoms in the entire visible universe.

Even Einstein had difficulty with entanglement calling it, spooky action at a distance.

By the way, just to further illustrate the point, if you add one more qubit the number of bits (or more precisely, states) that can be stored just jumped to 10154 (one more bit in a classical computer would only raise the capacity to 1078).

Heres whats really mind blowing about quantum computing (as if what we just described isnt already mind-blowing enough.) A single caffeine molecule is made up of 24 atoms and it can have 1048 quantum states (there are only 1050 atoms that make up the Earth). Modeling caffeine precisely is simply not possible with classical computers. Using the worlds fastest super computer it would take 100,000,000,000,000 times the age of the universe to process the 1048 calculations that represent all of the possible states of a caffeine molecule!

So, the obvious question is, How could any computer, quantum or otherwise, take on something of that magnitude? Well, how does nature do it? That cup of coffee youre drinking has trillions of caffeine molecules and nature is doing just fine handling all of the quantum states they are in. Since nature is a quantum machine what better way to model it than a quantum computer?

Spooky Action

The other aspect of quantum computing that challenges our understanding of how the quantum world works is whats called entanglement. Entanglement describes a phenomenon in which two quantum particles are connected in such a way that no matter how great the distance between them they will both have the same state when they are measured.

At first blush that doesnt seem to be all that novel. After all, if I were to paint two balls red and then separate them by the distance of the universe, both would still be red. However, the state of a quantum object is always in whats called a superposition, meaning that it has no inherent state. Think of our coin flip example from earlier where the coin is in a superposition state until it stops spinning.

If instead of a color its two states were up or down it would always be in both states while also in neither state, that is until an observation or measurement forces it to pick a state. Again, think back to the spinning coin.

Now imagine two coins entangled and flipped simultaneously at different ends of the universe. Once you stop the spin of one coin and reveal that its heads the other coin would instantly stop spinning and also be heads.

If this makes your head hurt, youre in good company. Even Einstein had difficulty with entanglement calling it, spooky action at a distance. His concern was that the two objects couldnt communicate at a speed faster than the speed of light. Whats especially spooky about this phenomenon is that the two objects arent communicating at all in any classical sense of the term communication.

Entanglement creates the potential for all sorts of advances in computing, from how we create 100 percent secure communications against cyberthreats, to the ultimate possibility of teleportation.

Room For Possibility

So, should you run out a buy a quantum computer? Well, its not that easy. Qubits need to be super cooled and are exceptionally finicky particles that require an enormous room-sized apparatus and overhead. Not unlike the ENIAC once did.

You can however use a quantum computer for free or lease its use for more sophisticated applications For example, IBMs Q, is available both as an open source learning environment for anyone as well as a powerful tool for fintech users. However, Ill warn you that even if youre accustomed to programming computers, it will still feel as though youre teaching yourself to think in an entirely foreign language.

The truth is that we might as well be surrounded by 20,000 glowing vacuum tubes and 500,000 hand soldered wires. We can barely imagine what the impact of quantum computing will be in ten to twenty years. No more so than the early users of the ENIAC could have predicted the mind-boggling ways in which we use digital computers today.

Listen in to my two podcasts with scientists from IBM, MIT, and Harvard to find out more about quantum computing. Quantum Computing Part I, Quantum Computing Part II

This article was originally published on Inc.

Image credit: Pixabay

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Tom Koulopoulos is the author of 10 books and founder of the Delphi Group, a 25-year-old Boston-based think tank and a past Inc. 500 company that focuses on innovation and the future of business. He tweets from @tkspeaks.

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