Page 1,723«..1020..1,7221,7231,7241,725..1,7301,740..»

Keyed in to quantum computing lab testing at Keysight World – VentureBeat

Its oft said, but bears repeating: The money in the 49er Gold Rush was made by the suppliers much more than the miners. Enduring companies were built by selling picks, shovels and blue jeans.

The story plays out again today. Behind each breakthrough in quantum computing qubit-counts is a large collection of laboratory test equipment. Signal generators, arbitrary waveform generators, digitizers, oscilloscopes, spectrum analyzers and network analyzers are vital as quantum players coax ions, photons and superconducting qubits into calculating problems.

Thoughts along this line piqued our interest as we took part in the quantum computing portions of Keysight Technologies online Keysight World Innovate conference, held recently. Keysight, and competitors such as Anritsu and Tektronix, are busy coming up with tooling to scale the quantum cliffs.

Theres a lot of excitement about this technology and governments all around the world are investing in the research and development required to scale this up, Shohini Ghose, Ph.D., a quantum physicist at Wilfrid Laurier University, said in a keynote at Keysight World.

Its a very exciting time, [but] its not quite clear where this technology will go, she said.

Ghoses emphasis on large-scale investment is borne out by the numbers. Estimates of government and private efforts to spur quantum science and technology, according to Quantum Resources and Careers (QURECA), point to current worldwide investments reaching almost $30 billion, with the overall global quantum technology market projected to reach $42.4 billion by 2027.

Quantum R&D labs likely make up a small portion of the overall test and measurement market, which is expected to increase modestly from $27.7 billion in 2021 to $33.3 billion in 2026. But the market for testing tools used in quantum R&D labs will grow if the promise of quantum computing is to be successfully tapped.

A central part of Keysights test bed for development of quantum computers, sensors and network equipment is its Quantum Control System (QCS), which was introduced in June. QCS components support direct digital conversion of signals and include low-noise distributed clocking. A Keysight manager explained how that works and why it matters in testing.

QCS leverages FPGA timing and synchronizations for multichannel and multichassis operations, said Giampaolo Tardioli, vice president for Keysights Communications Solutions Group, speaking at the event.

Such traits are important as the quantum community looks to scale up its qubit counts. Important as well is software support, added Tardioli, who pointed to Keysights work to support QCS with Python APIs.

Keysights credentials for the quantum quest could not feature more vaunted lineage, as the company grew out of the original Hewlett-Packard test equipment that sprung from the Palo Alto, California, garage of Messrs. Hewlett and Packard in the 1930s. The garage is regularly cited as the birthplace of Silicon Valley.

Keysight has pursued quantum lab tech both organically (almost 100 scientists and engineers were involved in the creation of QCS) and through acquisition. Its quantum road map includes acquisition of modular measurement startup Signadyne in 2016, qubit control software maker Labber in 2020 and error diagnostics specialist Quantum Benchmark in 2021.

Although they still lag behind classical computers by most measures, quantum computers have made steady and perhaps increasing progress in recent years.

But many challenges lie ahead before quantum computers can be integrated into business operations, according to Patrick Moorhead, CEO and chief analyst, Moor Insights and Strategy, who spoke at Keysight World.

The biggest hurdle to jump over is error correction, Moorhead said, noting that a classic computer can do trillions of calculations before it gets an error, but such errors in quantum systems today tend to occur after about 100 to 200 calculations.

Much of Keysights quantum test focus these days is on understanding the impact of errors and how current techniques can remove or elude them. Its an important part of understanding just where the industry is on the road to quantum adoption.

For his part, Moorhead said his analyst firm is expecting a major breakthrough in error correction sometime this year. Even then, there is more prospective work ahead.

If error correction research is progressing at the rate we believe, it could take three to five years until it is usable in systems, he said.

VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Discover our Briefings.

Read the original post:
Keyed in to quantum computing lab testing at Keysight World - VentureBeat

Read More..

Podcast with John Prisco, President and CEO of Safe Quantum – Quantum Computing Report

John Prisco, President and CEO of Safe Quantum, a quantum security consulting firm is interviewed by Yuval Boger. John and Yuval talk about the maturity of PQC, QKD, quantum networks, and their timing overlap, national and international testbeds for quantum security, successful case studies and more.

Yuval Boger: Hello John, and thanks for joining me today.

John Prisco: Hello, how are you?

Yuval: Im doing well. Who are you and what do you do?

John: Well, Im John Prisco, and I am the president of Safe Quantum and I consult in the areas of quantum key distribution and quantum internet.

Yuval: There have been a lot of buzzwords floating around: post-quantum cryptography, quantum key distribution, and the quantum internet. Could you make some sense for me in these?

John: Yes, I think were in a very early stage in a number of areas that would be based on quantum. Obviously, quantum computers are just at the beginning of development, and they dont have very many qubits yet, but eventually, they will. And when they do, then well have something to worry about with having our encryption schemes broken that we depend on today. However, the work thats being done at NIST to develop post-quantum cryptographic algorithms will become quantum resistant. The hope is that these mathematically based algorithms will prevent quantum computers or at least slow them down in terms of being able to decrypt secret information.

On the other side of the equation is quantum key distribution, which doesnt depend on arithmetic or mathematical rigor. It is relying on quantum mechanics and physics principles. Its a very interesting technique, it uses keys that are made of individual photons of light, and because of the various quantum mechanical properties, youre not really able to even observe these keys without changing their state. Once the state has changed, the key no longer works, it no longer unlocks the secret information and therefore provides the protection that one would want when transmitting very secure and sensitive information.

Yuval: If Im an enterprise and I hear about post-quantum cryptography as an interim step, and then quantum key distribution is something that could be a little bit better and maybe about the quantum internet is the best thing, is it feasible for me to jump right to the best thing?

John: Well, unfortunately, its not at the moment, and thats because theres a lot of work to be done, actually, in all three areas. Jumping ahead to the quantum internet is probably a misnomer. We should probably first talk about a quantum network, which is not as far-reaching as the internet. And there are a number of test beds around the world that are today working in this area. And at this point, these systems are relying on creating quantum repeaters and using quantum memory. But at this point of development, the repeaters are repeating one photon of information. So when you consider gigabit per second type transmission rates, theres a long way to go before we could have a complete quantum internet.

But there are many advances going forward throughout the world on quantum networking. And one in particular that I follow closely because its right here in the United States, is a company called Qunnect. And what I find interesting about them is that theyre attempting to build quantum network, the basis for quantum internet, using room temperature apparatus. Which is terrific because when you try to commercialize something, its very difficult to commercialize a product that has a dilution refrigerator, which is a room full of refrigeration equipment to get superconducting properties out of quantum setup in milli-Kelvins of temperatures. When you have high vacuums, and very low temperatures, you have a long way to commercialization, so I like following companies that are trying to do things at room temperature because I think we get there sooner with that kind of approach.

Yuval: If we start from post-quantum cryptography, I understand that NIST has announced for finalists or candidates for standards, but some of them have already been cracked. How is that process going, and what do you anticipate will happen with it?

John: Well, its a long-term process. It started six years ago, and I think it started with something like 88 algorithms that were presented. NIST has been diligently working on looking at the veracity of each one of these algorithms, and theyd come up with four finalists. In addition to the four, there were others in the finalist category, and one of them was hacked a couple of months ago, I think in March. And then, more recently, another had been broken. But thats all part of the process working. It is open to the public so that people will try to, in some way, bypass the protections that the algorithm offers.

And when you look at an arithmetic approach, which is all of post-quantum cryptography, you have to understand that these algorithms will have a shelf life, just like the RSA algorithms are coming to the end of their useful shelf life. Well, post quantum cryptography may have a 30-plus year shelf life, but eventually, it will be cracked by something. So its very important to understand that that approach is a quantum-resistant approach. Im probably more in line with the QKD basing its protections on laws of physics, but I think you need both of them. I think its important to have a defense in-depth strategy, and I think its important to have two totally different approaches so that if one fails, its not likely the other will have the same failure mechanism and therefore, youd have more survivability.

But I do think post-quantum cryptography is going to require crypto agility just for the reasons we mentioned, you may be heading down the road with a finalist candidate algorithm, and then something happens where a mathematician comes up with an algorithm that defeats that approach. Well, you have to be able to turn on a dime and adopt one of the other algorithms that are in their golf bag, so to speak.

Yuval: I think quantum key distribution uses a side channel to transfer decryption or encryption keys to both parties outside the main channel. And I believe that a previous company that you were involved with did QKD as a service. If I understand QKD, what does as a service mean in that context?

John: Well, it means that you are providing a transmission pathway for a customer to secure data in motion. And that could be between two of the customer premises locations. It could be from a customer to the cloud. And when you say as a service, it means that you secure the fiber rights of way between points A and point B. You install the hardware, which is producing the keys and sharing the keys. And its a complete service, if there is maintenance required, you provide that as well.

And one of the most important things about this approach is that you can separate the encryption key from the data. Today we make it awfully easy for people to harvest information and the key thats used to encrypt that information. And even though they may not be able to break that key today, they can simply and inexpensively store the data and the key. And then in the future, when they have the means to break that key, like with a more powerful quantum computer then we currently have, now suddenly all that secure, sensitive information is subject to being read in plain text.

There are an awful lot of things to consider. The time it takes to convert from a classical encryption approach to a quantum encryption approach is measured in decades. The last time there was a conversion like this, it took over 20 years for companies to completely convert to the RSA algorithms. Its probably going to take more like 20 to 30 years this time around because we have so much more data that were storing and transmitting. What was happening in the seventies is much, much smaller than whats happening in the 2020s. This is not going to be an overnight plug-and-play kind of project, its going to take a long time. And you have to constantly be watching to see, are nefarious actors able to crack the new algorithms, and will our sensitive information soon be read by enemies?

Yuval: So its not a three-stage rocket where first you have PQC and then you move to the second stage with key distribution and then maybe to a quantum network, these are overlapping stages, if I understand correctly?

John: They are, and I think you know, have QKD today, which is probably the best approach to preventing harvesting attacks, because its available today, and it will give you the quantum mechanical security that boasts. PQC is probably two years away from being standardized for the first few algorithms. And then of course that conversion to PQC, which is an enormous task, will probably take at least 20 years.

But the quantum internet is going to require a fair amount of development. Today what we do is we entangle photons and then we try to swap that entanglement in a quantum repeater or quantum memory. And as I mentioned before, each photon is transmitted individually, and it has one bit of information, a one or a zero, could be polarization, could be phase whatever, but one and a zero. Now youre talking about having billions and billions of photons in order to complete a simple telecommunications transaction. And the hardware and infrastructure has to be put in place for this. But fortunately, we do have test beds springing up all around the world, and breakthroughs are being made on a fairly monthly basis. So well get there, but it will probably be on the order of 20 to 25 years before any substantial networks for substantial distances with substantial data rates will be prevalent.

Yuval: Youve probably consulted with a lot of companies and looked at many others, are there any examples that you could give of someone that you felt was doing a good job in preparing for this next type of risk?

John: Yes, in fact, Ive had the pleasure of working with a number of companies, JPMorgan Chase, for one. And what I really think they did right is that they hired quantum experts, their quantum business is run by a fellow named Marco Pistoia, came out of IBM and hes a friend of mine, and I always tell him that hes a quantum rockstar, and he is. We did a project when I was consulting for Toshiba that was based on securing a blockchain application. I think if you generalize this to companies and what they might do, I think its important to have people who understand what quantum is, what quantum science information technology is all about.

And then you have to start doing some proof of concept tests. Ive done a number of QKD proof of concepts. One of my first ones was, again, working with Toshiba and we did a Verizon 5G network security. This is all public, there have been press releases on both the companies Ive just mentioned. But thats really what you have to do, you have to get started, you have to make an investment. And theres an equal investment to understanding the PQC algorithms. And the first thing you have to do is take an inventory of your data, what data? Whats the shelf life of the data? Whats the sensitivity of the data? And you have to work from the most sensitive and longest shelf life to the least sensitive and the shortest shelf life. But just knowing that is going to take a long time in a large corporation. So getting started now is important.

The federal government is a totally different situation because the information is always very sensitive. And when you look at some of the executive orders that came out last month about when government agencies should be converted to quantum encryption, they were talking about 2032 to 2035. Now, what worries me about that is the harvesting attacks, thats going to be 10 to 13 years of people sniffing cables. Even the submariner cables crossing the ocean have been tapped. Its very difficult to know when youre tapping an optical fiber because you just simply bend it, and the light leaks out of the core and then you detect that light. The thing is that with conventional classical telecommunications, when you detect that light, you also get all the information thats being sent over that fiber. So you can imagine an optical fiber carrying tremendous amounts of data and all of it being recorded inexpensively and kept somewhere. And then eventually, when you can break that encryption, now all of these very sensitive bits of data are revealed.

I dont think we have as much time as people think that, Well, we can do this over 20 years, 25 years. Sure, it may take that long, but I think you have to take measures before that, especially if your information is a long shelf life and is extremely sensitive. And QKD actually is the only thing that can really protect you at the moment.

Yuval: You mentioned governments and security is obviously not just a corporate issue but also a national issue. Which countries, in your opinion, are ahead in quantum security? And which countries are perhaps behind?

John: Well, I think that the United States has caught up with China. We do some things better than they do. They do other things better than we do. But in terms of quantum computing, I think the US leads. I actually think that some of the QKD implementations in China lead the US. But theres a lot going on in Europe as well. Theres British Telecom thats now doing a metro scale network using Toshiba QKD and thats a very large project and very interesting in terms of seeing a large telecommunications company make that bet. The Netherlands is, and the group at Delft is doing a wonderful job on quantum networking, and theyre just a lot of things going on like Barcelona, Germany, theyre all doing a lot in the field of quantum networking,.

But this is going to be a public-private partnership in the United States, just like the moon launch was in the sixties. And thats the way to really win this race. And people, a few years ago, started to have that Sputnik moment where they said, Wow, look at Chinas just invested 10 billion in quantum. We better do something about that. And I think we have, and I think in fact that the NSF has been funding universities and a lot of basic research as well as the venture community funding startup companies. I think that combination is a winning combination. It won once before during the sixties and the Space Race, and I think itll win again.

Yuval: As we get close to the end of our conversation today, you mentioned a couple of test beds in Europe, I think in the US, I think theres a big one in Chicago. Are there others that people could get involved with or should pay attention to?

John: Well, theres Chicago Quantum Exchange, thats the one that you are referencing. And of course, that has Department of Energy laboratories working along with very fine universities and terrific researchers. Recently, NIST announced that theyre going to build a DCQ Network, a quantum network that will initially deploy quantum networking on the NIST campus, but then will bring to bear several other agencies like NASA, NSA, CIA. That will be an interesting one to watch. And there is all sorts of rumors about a network coming into Boston and another one coming into New York, and probably another on the West Coast. But none of that has really been publicly announced yet, so well see which ones of those occur. But I think its really important that we have these partnerships, test beds, that have universities involved and that have venture capital involved and government involved. Government is looking for the private sector to come with ideas. Many of these companies have been working on networking for a couple of years, three years, and they can bring to bear a lot of experience.

Yuval: Excellent, John, how can people get in touch with you to learn more about your work?

John: Well, you can go to my website, which is SafeQuantum.com, and all my information is there. I am leading the use cases TAC (technical advisory committee) at QEDC. And if youre a company that wants to join QEDC, I would recommend it. Theres a tremendous amount of knowledge within the group and its a very good place to learn. You can also look at me in Forbes Technology Council. I try to publish one paper a month there. Thats how you can find me. And LinkedIn.

Yuval: Thats perfect. Well, thank you so much for joining me today.

John: Well, thank you.

Yuval Boger is a quantum computing executive. Known as the Superposition Guy as well as the original Qubit Guy, he most recently served as Chief Marketing Officer for Classiq. He can be reached on LinkedIn or at this email.

October 12, 2022

See the original post here:
Podcast with John Prisco, President and CEO of Safe Quantum - Quantum Computing Report

Read More..

Podcast with Alireza Najafi-Yazdi, CEO of Anyon Systems – Quantum Computing Report

Alireza Najafi-Yazdi, founder and CEO at Anyon Systems is interviewed by Yuval Boger. Alireza and Yuval talk about Alirezas full-stack quantum computer company that tackles everything from cryogenics to qubits to software, how to keep quantum computers running without attaching a technician to them, and much more.

Yuval Boger: Hello, Alireza, and thanks for joining me today.

Alireza Najafi-Yazdi: Hi Yuval, thank you very much for the invitation.

Yuval: So who are you and what do you do?

Alireza: Well, Im Alireza Najafi-Yazdi. Im the founder and CEO of Anyon Systems, and we are a quantum computing hardware company located in Montreal. And we also have some satellite presence in the Waterloo region in Canada as well.

Yuval: And I apologize, but I want to say Id never heard a few before, but I only heard of you very recently. And then I found out that youve been out in the market, active for a number of years. Is that by design or is it just my ignorance?

Alireza: It is to some extent by design. We actually started in 2014 and really officially launched a company in January 2015. And in that regard, we are one of the oldest companies in the quantum computing market. I think older than us, perhaps Rigetti by a few months and maybe D-wave by quite a few years. And it was around that time that John Martinez and his team joined Google and the Google quantum effort started, and IBM also started their recent superconducting effort. So, were almost as old as the industry is.

Yuval: And I think youre building a complete system, both the hardware and the software and everything in between using superconducting qubits. Is that correct?

Alireza: That is correct. So we actually, we are pretty unique in some aspects, and that is we build every major component of a superconducting quantum computer in-house. We build all of our own dilution fridges, which Ive noticed shocks many people. They dont expect a quantum computing hardware company to be able to build its own dilution fridge. We build our own controlled electronics. We build and develop our own firmware stack and we kind of stop right at the SDK thats when we handed over to the client and other partners to build compilers or sophisticated algorithms and whatnot. So thats where were primarily focused on the harder and the peripheral of a quantum processor.

Yuval: That sounds like a major undertaking. I think there are very large companies who try to do full stack solutions. Can you give me a sense about the size of your company? How many people, or what kind of funding that make it possible to do a full stack solution?

Alireza: Sure. Were not too large a group. Were 25 people, but weve been at it for quite a long time now. Its more than seven years almost in December. Thats going to be eight years of working on this project so we have a nimble and very efficient team, but we also took some time to build all this stuff.

Yuval: And I think you have a quantum computer that actually works that youve sold a few. Is that correct?

Alireza: That is correct. So we have a system that we built for DRDC. This is a Canadian defense research establishment here in Canada, part of the department of the national defense. And thats a six-qubit machine. Thats the extent I can disclose. And we are now in the process of building a second unit. Its actually a very nice and commercial unit for data centers. And thats going to be installed sometime next year, hopefully the first half of next year at Calcul Quebec, which is a super computing center here in Canada. And that serves a number of universities here in Canada. So yeah, were in the process of building that system. And the first phase of that system, were going to install a 12-qubit chip. And the system is, as I speak to you, were almost all the major components, hardware components are either on the floor or theyre being integrated. So were going to start testing in the next couple of months.

Yuval: What makes your system different or better than other quantum computers and specifically other superconducting quantum computers? It doesnt sound like you have more qubits. Are they better qubits? Are they better connected? Are they designed for different use? Help me get the differentiation, please.

Alireza: There are two things, Yuval. So here at Anyon, our activities follow two prongs. One, we have our own internal R&D that is focused on a very particular type of architecture and superconducting qubits and a novel qubit architecture that were following. And the other stream of our work for the time being focuses on delivering near term intermediate scale machines, NISQ machines, to data centers and area adapters.

So these two machines that I talked about, they feature that NISQ architectures. They are transmon qubits. They are tunable transmon qubits with tunable couplers. To some extent, similar to the architecture that Google has followed, we followed the same philosophy in many aspects. We like that philosophy very much. Of course, on the control electronics level, cryogenics, all these are essential, and also even on the quantum processor, there are certain things that are very unique to ours.

What we have been striving to achieve is higher gate fidelity and minimal crosstalk. So on the crosstalk, we have really a state of art performance metrics. You could put the crosstalk, literally speaking, to zero, and performance metrics in terms of gate fidelities, consistently, were getting performance metrics, which you can call us among the top three players in terms of performance of the qubits. And theyre getting even better and better as time goes on.

And scaling up the number of qubits is no longer an issue. We can scale up to few dozens, lets say to 60, 70 qubit with the existing platform that weve developed. Its just a matter of check size of the client because building these machines costs a lot of money and somebody has to pay for it.

Yuval: I was looking at the website and some of your press releases. And it sounds like the two of the customers that are mentioned are the government or defense-related customers. Im guessing that these customers are not using it on a public cloud, like a Braket or Azure. Is that by design or is this just happened this way that the first two customers are government customers?

Alireza: Part of it happened by design. Its just a philosophy that we have in terms of how a eventual quantum computer would be used. We think a quantum computer is going to be a hardware accelerator. Its going to be sitting next to a classic high performance computing infrastructure. So I mentioned Calcul Quebec and the supercomputing center. So we are very excited because this machine that were building for them is going to be directly coupled into their existing HPC fabric to Narval, which is the largest public supercomputer here in Canada and the 81st or so largest supercomputer in the world.

So theres a lot of interesting integration work being done between the HPC and the quantum computing infrastructure were building. And because of that, lets say putting a machine on the cloud and having a TCP/IP API call, thats just slow. But we dont think thats how a machine would be eventually used.

We understand these are smaller-scale machines, perhaps mostly for education and trying proof of concept, but nevertheless, you want to really move toward the right direction. So thats why we didnt go directly into the cloud. And theres also when it comes to cloud, the business case has not been there, or at least Im personally not convinced about the cloud yet. Building a machine costs millions and millions of dollars of capital. And then you put it on the cloud and you charge the client a few cents a shot. And Im not sure if you get return on investment anytime soon. And at the end of the day, were a commercial company. Unit economy matters. And thats why it was so far has not been commercially attractive enough yet.

Yuval: How about uptime? When I look at computers on the cloud, theyre not up 24 hours a day. They have limited windows of operation. When you deliver a computer to a customer. Do you have to deliver a technician that tweaks the qubits every day? Or how are these computers maintained?

Alireza: Its a very good question. And this is one of the things that has been the subject of significant activities here at Anyon. Weve been working on developing automated calibration systems that, as you said, tweaking. Yes, you need some calibration. You need regular calibration, perhaps 24 hours or even shorter time intervals. And you dont want a technician next to the machine. You want this to be done automatically. So there are a lot of quantum control concepts. Software engineer concepts have gone into building the infrastructure to make sure that these things can be maintained without direct interference by sys admins or our technicians.

Particularly this one that is going to the supercomputing center. Theres a lot of interesting requirements in terms of maintaining it. The uptime should be 24/7 for long, long periods of time. So it is so far, weve run our machines for month and month without a problem. Typically, we have to just warm up to swap a new generation of chips. So weve been able to maintain these machines up for quite some time. And well continue to monitor and learn from that experience.

Yuval: Given that you are a full stack company, do you need any help from any other industry player? I mean, if you were controlling the quantum computing industry, what would you have people do that theyre not doing today or do to help you move faster?

Alireza: Well, were not definitely controlling the industry, but we were kind of controlling our fate and our technology. And thats been always the idea, but theres a lot of room for collaboration. As I mentioned to you, were so focused on the hardware that we strategically have decided to let others take care of algorithms, perhaps compiler optimization, and things of that nature. And I think this is a great area of collaboration. Benchmarking is another great area of collaboration. Those who have particular expertise in benchmarking. And they want to go from one hardware to another. Theyre more than welcome to talk to us. And we would love to hear from them as well. Thats another area of collaboration. And there is in between a lot of components that either we dont make, or we dont want to make anymore, that we love to see supply chain for.

A good example is a dilution fridge. For example, dilution fridge. When we started in 2015, there were just two companies at the time that you could call them commercial. One was Blue Force, and the other one was Oxford Instruments. And we were not sure if they were bought out by our competitors, but with these big giants, what would be our fate? So we decided at the time it makes both the strategic sense, and also for long term, if you want to go larger and larger number of qubits and build bigger and bigger systems to have our own dilution for systems, we are probably going to keep some of these very key equipment or key components internally and build them internally. But we are always on the lookout to see what others can do and take some load off our shoulders.

Yuval: And in terms of applications, do you feel that your computers are best for one particular type of application like optimization or chemistry or something else? Or really is the entire spectrum for you?

Alireza: We build whats called universal quantum computers. These are gate-based machines. And in theory, you can run any algorithm you want. Youre just limited by the coherence time of the qubits, and the gate facility is the same as you were running on, lets say, IBM or Googles machine. That being said, a good question is, whats the best application for a quantum computer?

And theres also some companies who are following application-specific quantum processes or architectures and an interesting discussion is what is it, what exactly is that? And how would that play out in the long term? So for the time being, we believe its good to remain as generic as possible. So were going to continue working on building gate-based universal machines and try to make the hardware more accurate, and dip our toes into fault tolerance and error correction. But this is, I think, a very active field of research and still, everybodys at very, very early stages of this.

Yuval: Alireza, how can people get in touch with you to learn more about your work?

Alireza: They can reach out to us through LinkedIn, through our website, through Twitter. They can, if they want to talk to me in person, Im both on LinkedIn and on Twitter and Im responsive.

Yuval: Excellent. Well, thank you so much for joining me today.

Alireza: Thank you very much, Yuval.

Yuval Boger is an executive working at the intersection of quantum technology and business. Known as the Superposition Guy as well as the original Qubit Guy, he can be reached on LinkedIn or at this email.

October 9, 2022

Read the original post:
Podcast with Alireza Najafi-Yazdi, CEO of Anyon Systems - Quantum Computing Report

Read More..

3 emerging crypto trends to keep an eye on while Bitcoin price consolidates – Cointelegraph

This week, Bitcoins (BTC) price took a tumble as a hotter-than-expected consumer price index (CPI) report showed high inflation remains a persistent challenge despite a wave of interest rate hikes from the United States Federal Reserve. Interestingly, the markets negative reaction to a high CPI print seemed priced in by investors, and BTCs and Ethers (ETH) prices reclaimed all of their intraday losses to close the day in the black.

A quick look at Bitcoins market structure shows that even with the post-CPI print drop, the price continues to trade in the same price range it has been in for the past 122 days. Adding to this dynamic, Cointelegraph market analyst Ray Salmond reported on a unique situation where Bitcoins futures open interest is at a record high, while its volatility is also near record lows.

These factors, along with other indicators, have historically preceded explosive price movements, but history will also show that predicting the direction of these moves is nearly impossible.

So, aside from multiple metrics hinting that a decisive price move is brewing, Bitcoin is still doing more of the same thing its done for the past 4.5 months. With that being the case, it is perhaps time to start looking elsewhere for emerging trends and possible opportunities.

Here are a few data points that Ive continued to be intrigued by.

ETHs price has lost its luster in the now post-Merge era, and the asset now reflects the bearish trend that dominates the rest of the market. Since the Merge, ETHs price is down 30% from its $2,000 high, and its likely that a good deal of the speculative capital that backed the bullish Merge narrative is now in stablecoins looking for the next investment opportunity.

Aside from ETH being an asymmetrical performer in the last four months, Cosmos (ATOM) also defied the market downtrend by posting a monster rally from $5.40 to $16.85. As covered thoroughly by Cointelegraph, oversold conditions, along with the hype of Cosmos 2.0, backed the bullish price action seen in the altcoin, but this chart continues to capture my imagination.

According to the revised Cosmos white paper, the current supply of ATOM will dynamically adjust based on the supply and demand of its staking. As shown in the chart above, when Cosmos 2.0 kicks in for the first 10 months, issuance of new ATOM tokens is high, but after the 36th month, the asset becomes deflationary.

From the vantage point of technical analysis, ATOMs price appears to have hit a local top as the months leading up to Cosmos 2.0 were a buy the rumor, sell the news type of event, but it will be interesting to see what transpires with ATOMs price as the market approaches month 20 in the diagram above.

Related: Price analysis 10/14: SPX, DXY, BTC, ETH, BNB, XRP, ADA, SOL, DOGE, MATIC

Since the Ethereum Merge, Ether emissions have dropped by 97%, and while the price has pulled back significantly, over the coming months, investors might keep an eye on Ethereum network activity, developments with ETH staking across decentralized finance (DeFi) and institutional products, along with any spikes in gas (connected to network activity).

While the price could succumb to bearish pressure in the short term, if the market begins to turn around if new trends trigger increased use of DeFi products, its possible that ETHs price could react positively to those developments.

While new trends across various altcoins may emerge, its important to remember the wider context in which crypto assets exist. Global economies are on the rocks, and persistently high inflation remains an issue in the United States and many other countries. Bond prices are whipsawing, and a looming debt crisis makes its presence known on a daily basis. Risk-on assets like cryptocurrencies are incredibly volatile, and even the strongest price trends in crypto (whether backed by fundamentals or not) are subject to the whimsy of macro factors such as equities markets, geopolitics and other market events that impact investors sentiment.

Keeping this in mind, Bitcoin remains the largest asset by market capitalization within the crypto sector, and any sharp moves from BTCs price are bound to support or suppress the micro trends that might be gaining traction in the market. There is still the possibility of a sharp downside in Bitcoins price, so traders are encouraged to calculate investment size according to their own appetite for risk, and while multiple metrics might support opening long positions in various crypto assets, it still seems too early to fully ape in.

This newsletter was written by Big Smokey, the author of The Humble Pontificator Substack and resident newsletter author at Cointelegraph. Each Friday, Big Smokey will write market insights, trending how-tos, analyses and early-bird research on potential emerging trends within the crypto market.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Read more:
3 emerging crypto trends to keep an eye on while Bitcoin price consolidates - Cointelegraph

Read More..

Bitcoin reverses lower after Thursday’s big rally but remains in the $19,000 level – CNBC

Photo illustration of Bitfinex cryptocurrency exchange website.

Dado Ruvic | Illustration | Reuters

Cryptocurrencies were little changed on Friday as investors sought to extend the previous day's rally.

Bitcoin was lower by 1% at $19,175.00, and ether gained 1% to trade at $1,299.66. Both assets ended their fourth down weeks in the last five.

Crypto jumped Thursday, following the movement of stocks after the consumer price index came out showing higher-than-expected inflation. That reading initially sent risk assets down sharply before they reversed and soared, with the Dow Jones Industrial Average staging a historic 1,500-point rally.

"Yesterday we saw a knee jerk reaction lower in all markets which was algo-driven, then short-covering and real buying stepped in, which was the right response to the CPI data," said Jeff Dorman, chief investment officer at Arca. "Markets aren't concerned with inflation, they are concerned with the Fed's expected response to inflation, and nothing changed yesterday: 75 basis points was baked in, it was confirmed further by the CPI data."

October tends to be an up month for bitcoin, according to Bespoke Investment Group. Bitcoin's never been in a bear market like this one, however, and some remain cautious.

The cryptocurrency's third-quarter return of 6% and ether's 25% return outperformed other asset classes, and both have held up fairly well, trading within the $19,000 level for much of the past month, due to the uncertain macro environment. However, "the subdued volatility relative to other assets on continued declining volumes has the potential to lead to downside," Compass analyst Chase White said in a note Friday.

It had been a tough week for markets before the CPI data was released. YuyaHasegawa, crypto market analyst at Japanese crypto exchange Bitbank, said the rebound could trigger an unwinding of recent risk-off sentiment in stocks.

That "could have a positive effect on the price of bitcoin," he said. "If the price recovers the $20,000 psychological level with substantial trading volume in the next few days, bitcoin could test $23,000 next week."

Follow this link:
Bitcoin reverses lower after Thursday's big rally but remains in the $19,000 level - CNBC

Read More..

Bitcoins Next Bull Run Will Start in 2023 According to Bitwise CEO – CryptoPotato

Hunter Horsley CEO of the technology solutions provider Bitwise believes bear markets are a great period when investors could increase their exposure to bitcoin.

He estimated that the next bull run will begin next year, outlining that his firms clients have already increased their interest in the asset.

In an interview for Bloomberg, Horsley outlined the historical pattern of bitcoins price movement. During its existence, the primary cryptocurrency has passed periodically through four-year cycles, while bull runs with growing momentum have always followed bear markets. Relying on that data, he assumed that the asset will begin a new price rally in 2023:

So in 2014, the market was down almost 60%. 2018 market down north of 70%. And this year, obviously, 2022, the market is down around 60%. The expectation, if the market continues its historical trend, would be that we begin a new cycle next year.

Despite the current market crash, the executive said an increasing number of Bitwise customers had renewed their interest in the crypto industry. In his view, those who hop on the bandwagon now (when prices are much lower compared to last year) have a better chance to generate significant profits in the future:

So the story of this year is definitely a bear market. Nevertheless, weve seen increased interest from our client base. And I think the backdrop for many crypto investors is that there have historically been four-year cycles, and while there are opportunities to make money in many crypto market moments, bear markets are the moments when fortunes can be made.

Investing during a time of crisis is a strategy that numerous financial experts have adopted. The narrative comes from the fact that prices crash prompted by panic in the space but when the situation calms down they surpass previous valuations. For example, when the COVID-19 pandemic was at its peak, bitcoin tumbled below $5,000. However, it recovered its losses a year later, skyrocketing to an all-time high of nearly $70K.

Robert Kiyosaki (the author of Rich Dad, Poor Dad) also believes people should allocate some of their wealth to bitcoin during a severe monetary crisis. Not long ago, he claimed that the galloping inflation, the diminishing power of the US dollar, and the upcoming recession, among other reasons, are the leading factors why investors should increase their BTC exposure.

Unsurprisingly, MicroStrategys Executive Chairman Michael Saylor is also part of that club. In June this year, he described bitcoins crash to $20K as a great buying opportunity.

On another note, he advised the residents of economically distressed countries (such as Turks) to turn to BTC to preserve their wealth during the turmoil.

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.

Visit link:
Bitcoins Next Bull Run Will Start in 2023 According to Bitwise CEO - CryptoPotato

Read More..

The Gordian Knot of Fiat, And How Bitcoin Cuts Through It – Bitcoin Magazine

This is an opinion editorial by Andrew Axelrod, a Bitcoin educator and writer whose LinkedIn posts have orange pilled thousands.

We truly are a species with amnesia. We have forgotten a very important part of our story. Graham Hancock

You have forgotten who you are and so have forgotten me. Look inside yourself Simba. You are more than what you have become. You must take your place in the Circle of life. Mufasa

Most of human experience is relegated to the dustbin of history and forgotten. And maybe rightfully so. After all, life is largely mundane, punctuated by inanities.

But those scarce few stories that survive, survive for good reason. They speak to us on a deeper level. They tap into a fundamental and enduring truth about the human condition. These arent stories from a far gone past, these are stories about the here and now. The names and faces may change, but the stories stay the same. We cant help but play them out over and over again, generation by generation. They are as relevant to us now as ever.

By contrast, bitcoin may seem like the bleeding edge of technology and without historical parallel. But the truth is, bitcoin fits into a far richer and meaningful story about our very nature. Let us now delve into one such story and explore how bitcoin will come to play a key part in its latest rendition.

Alexander the Great, who forged a vast empire with the tip of his spear and whose exploits have become the stuff of legend, is without the shadow of a doubt one of those scarce few figures that have stood the test of time.

One of his legends stands out in particular. The ancient Greek myth tells of how Alexander the Greats ambitious campaign in Western Asia brought him to the Phrygian capital city of Gordium, in modern-day Turkey.

As the story goes, Phrygia was a kingdom without a king. Its inhabitants believed that the rightful heir to the throne was yet to be ordained. The true king would reveal himself by solving an intractable problem the Gordian knot.

This knot was a nightmarish tangle of wrist-thick cornel bark that was twisted around an ox carts yoke and impossible to unfasten.

The ox cart had belonged to the ancient king Gordias, who, himself a humble peasant, had been placed on the throne through providence a thousand years earlier.

A prophecy foretold that whoever could untie the knot would not only rule over Phrygia as the dead kings successor, but would go on to conquer all of Asia.

This of course appealed to Alexander the Great who readily accepted the challenge.

But when he failed to untangle the knot, just as everyone before him had, he did something that shocked the Phrygians.

He unsheathed his shortsword and unceremoniously chopped through the ropes, saying:

It makes no difference how they are loosed.

"Alexander Slashed The Gordian Knot Apart With His Sword" by Jess Blasco (1919-95)

Now comes the interesting part of the story.

Alexander the Great had clearly violated the oracles prophecy by cutting through the knot instead of disentangling it and had in the process desecrated a holy relic on the steps of their temple. So how did the Phrygians react?

They crowned him as king on the spot.

How can this be?

Although the Gordian knot mythology is widely known, it is also deeply misunderstood.

Many historians and philosophers draw some of the following conclusions from it:

All of these interpretations however miss the mark and fail to recognize a basic truth the story elegantly reveals. The essence of the legend is simply this:

Alexander the Great was perhaps the greatest conquering war lord of all time. Hes certainly right up there with the likes of Attila the Hun, Sun Tzu, Saladin, Julius Caesar and Hannibal Barca. He was undefeated in battle and had brought most of the civilized world to its knees. Whats more, he had at his back an army of fiercely loyal Macedonian soldiers who stood waiting at the gates of Gordium, ready to rape and pillage the city at a moments notice.

Who among the Phrygians would dare challenge Alexander the Greats methods?

If he wanted to play fast and loose with the rules, who was to say otherwise.

And so, the Gordian knot is at its core the story of how might makes right.

Its no coincidence Alexander the Great used his Sword to solve the problem.1

But the Gordian knot has an even deeper lesson to teach us. To understand its meaning, we must first appreciate the storys message for what it truly is.

In the story, the knot was roped around an ox cart a technology for transport and trade, and a symbol of civilization and order. As the prophecy foretold, the rightful king would unshackle the ox cart and become ruler over the known world. This would be done through the use of brute strength by the sword.

As if to drive this point home, many historic paintings and artistic renderings have since depicted a chariot instead of an ox cart. The chariot of course being a striking symbol of war and triumph.

Alexander the Great Cutting the Gordian Knot (1767) by Jean-Franois Godefroy

The message is clear: When a situation becomes so gnarly and entangled as to become untenable, a proverbial Gordian knot, it demands a forceful actor to throw out the old ruleset and in so doing create a new order.

But what if there is no wise and powerful leader to grasp a sword in hand and do what is necessary?

After all, the Alexander the Greats of this world are few and far in between the long arcs of history. They are the exceptions, not the rule. Knowing this, Alexander the Great himself never chose an heir to his empire what would be the point? When asked on his deathbed to whom his immeasurable wealth and expansive kingdom would fall, he simply responded: To the strongest.

What followed was fifty years of warfare This is a number with significance that we will revisit. The point is though, that the Gordian knot is not always loosened with a clean cut, but is sometimes butchered and frayed.

To this end, the Romans, for example, had devised their own way of cutting a Gordian knot whenever it reared its ugly head. Working class citizens would abandon entire cities in defiance, called Succession of the Plebeians, leaving the rulers to squabble amongst themselves, and force a system change.

The Secession of the People to the Mons Sacer (1849) by B Barlocinni

This is nothing new. Such transitions occur with stunning regularity about every fifty years, in fact. History tells us that social orders typically take about three generations to deteriorate into a Gordian knot and require an Alexander the Great to slice through them. As the saying goes: The first generation sows it, the second grows it, and the third blows it.

Its a story as old as time.

This process of civilizational decay and rebirth is such an ingrained and human phenomenon that its even found its way into scripture.

The book of Leviticus prescribes a so-called Year of Jubilee as a remedy for these purges. The Year of Jubilee comes around once every fifty years and is a special time during which all debt is forgiven and all slates wiped clean a great reset:

You shall thus consecrate the fiftieth year and proclaim a release through the land to all its inhabitants. It shall be a jubilee for you (Leviticus 25:14, 810, NASB).

Yes, the names and faces might change, but the story doesnt. And we again find ourselves at such an inflection point.

The current financial world order has existed for just over fifty years, and now its coming apart at the seams (hows that for coincidence). This most recent cycle kicked off with the abolishment of the gold standard on August 15, 1971. After abandoning the gold standard, the world has been running purely on paper money, credit and borrowed time. We have been living through a global fiat experiment ever since.

But this chapter is now quickly drawing to a close. After all, our current financial system is the Gordian knot of them all and we are undoubtedly on the cusp of a reset.

The 2008 financial crisis proffered just a tiny glimpse of whats to come. When the house of cards began collapsing in April of that year, a horrifying realization began to finally dawn on our ruling class

The tangle of debt, mortgage backed securities and other credit based derivatives, had mutated into a monstrosity that was constricting and suffocating everything. Even worse, the financial crisis revealed how trillions of dollars of debt based derivatives were causing contagion effects that no one really understood the systems chain of ownership was no longer comprehensible.

A case-study by EJ Schoen explains how:

"...no one knew who owed money to whom or how much was owed, causing banks to cease trusting and lending to other banks."

And when trust in the system finally reached its terminal moment on September 29, 2008, the Dow fell seven percent, marking the largest single-day point drop in history. This was the plebeians' attempt at severing the knot. Instead of the Roman citizenry fleeing their capital, these were investors trying to abandon ship by selling out of all positions.

But of course, the plebeians ultimately failed to stave off the inevitable collapse of Rome and were forced to helplessly watch as corrupt central planners debased the currency and bankrupted and ransacked a once-great empire. Over the course of a few painful decades, the capital city was practically emptied out, collapsing from a height of more than a million inhabitants to a paltry population of just a few thousand. The plebeians could not prevent the civilized world from plunging into centuries of darkness.

And just as the plebeians had failed, so too had we. Absent an Alexander the Great, the knot was not cut. In fact, quite the opposite. The knot was further tightened as bureaucrats poured billions of printed money into the void. The supposed remedy to the Global Financial Crisis was to layer additional debt on top of the system. Central banks have ever since continued to backstop the market by inflating the money supply and further debasing currency.

And now, the knot has become so twisted that even something as simple as equities, a supposedly straightforward expression of financial ownership, has become an unmanageable tangle of debt:

The DTCC, the worlds main trade matching service, attracts 99 percent of U.S. deal flow and is supposed to keep track of who owns what.

Only, they can't.

As we now know, dozens of lawsuits have since revealed that the shares in circulation exceed the actual and authorized float for thousands of companies.

That's how GME had a short interest of 149% (which is impossible) and how shareholders owned 33% more of Dole Foods than there were Dole Food shares.

The knot has become tangled beyond belief.

Back to the story of Alexander the Great:

The plot never changes only the names and faces do. And so, the Gordian knot becomes undone, one way or another. Whether it be at the hands of a powerful leader who can restore order to the world, or under the strain of its own suffocating weight, plunging everything into chaos.

But heres what has changed: For the first time, we need not wait for an Alexander the Great. Instead, we can wield the sword ourselves. Because of bitcoins unique property of self-custody, we can choose to cut the Gordian knot at any time by simply taking possession of our own money.

Gone are the endless and nebulous chains of credit-based ownership. The simple act of taking self-custody banishes all middle men, sets fire to the endlessly multiplying paper money and clarifies true ownership. The plebeians now finally have a tool to cut the knot. And while bitcoiners may call themselves plebs, its high time we also understood that bitcoin is the sword.

This is a guest post by Andrew Axelrod. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.

See more here:
The Gordian Knot of Fiat, And How Bitcoin Cuts Through It - Bitcoin Magazine

Read More..

Biggest Movers: QNT Hits 10-Month High on Saturday Market Updates Bitcoin News – Bitcoin News

Quant rose to its highest point since the start of the year on Saturday, as prices climbed for a third straight session. In addition to this, tron was also higher, as the token attempted to break out of a key resistance point. Overall, cryptocurrency markets were down 1.95% as of writing.

Quant (QNT) was one of the notable movers to start the weekend, as the token surged to a ten-month high.

Following a low of $162.00 on Friday, QNT/USD surged to an intraday peak of $184.98 earlier in todays session.

This move saw the token climb to its highest point since January 8, and comes following three days of gains.

As of writing, the 14-day relative strength index (RSI) is now deep in overbought territory, and is tracking at 80.19.

This is marginally above a ceiling of 79.00, and this could mean that bears could be looming, looking for any slips, before reentering.

Should bullish momentum remain high, we could see traders target an exit around the $190 level.

Tron (TRX) was another big gainer to start the weekend, as prices attempted to break out of a key resistance level.

TRX/USD raced to a peak of $0.06501 earlier in todays session, which comes less than a day after hitting a low of $0.06174.

As mentioned earlier, the move saw tron collide with a ceiling of $0.0650, which hasnt been broken since late-August.

Since hitting this peak, TRX has since slipped, and as of writing, is trading at $0.06264.

The 14-day RSI is now back below a ceiling of 57.00, and is tracking at a mark of 53.92, and seems to be headed to a support point of 50.50.

Should this target be reached, it is likely that prices of tron will be trading close to $0.06100.

Register your email here to get weekly price analysis updates sent to your inbox:

Do you expect any further rallies from tron this weekend? Let us know your thoughts in the comments.

Eliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Continued here:
Biggest Movers: QNT Hits 10-Month High on Saturday Market Updates Bitcoin News - Bitcoin News

Read More..

Bitcoin’s latest prediction-turned-reality can be an investor’s nightmare because… – AMBCrypto News

Bitcoins [BTC] almost 5% recovery on 14 October might not be the icing on the cake needed for a bullish revival. According to BaroVirtual, a CryptoQuant analyst, such events occurring in a full-blown bear market indicateda catastrophic outcome.

____________________________________________________________________________________

Heres AMBCryptosPrice Prediction for Bitcoinfor 2022-2023

____________________________________________________________________________________

In his latest analysis, BaroVirtual pointed out that the BTC close/low ratio signaled that the rebound would eventually result in a price correction.

Interestingly, the analysts projection seemed quick to come to life. This was because it did not take long before Bitcoin succumbed to the bidding of bears. At the time of this writing, BTC was trading at $19,177 a 2.74% decrease in the last 24 hours. However, it did not look like the decline would end at 2% to 3%.

Based on the four-hour chart, BTC sellers had more edge over the strength of the buyers. The Directional Movement Index (DMI) showed that the positive part (green), which reflected the buyer edge was 16.77.

In contrast, the negative DMI (red) favored the sellers above the positive at 27.54. While bulls may have hoped that the directional strength was not strong enough, the Average Directional Index (ADX) proved otherwise. With the ADX (yellow) at 32.23, it was almost inevitable that BTCs bearish momentum might last for a while before any bullish signs revealed themselves.

Hence, thedefending zonefrom which BTC bulls may have expected a run might not be in the short term.

More so, BTC traders also seemed to have reduced centralized trading activities recently. According to on-chain data intelligence platform, Glassnode, the number of exchange deposits had reached new lows, with the latest a 1.836.483 within two years.

Because of this, it was less likely that investors would have taken profits. For others, it could mean it was time to evaluate their BTC portfolio.

Per on-chain metrics, BTC traders were not following the reduced exchange activities as Glassnoderevealedthat futures open interest was in excellent momentum. As of 14 October, BTC futures open interest across all exchanges was about $12.15 billion.

The current level was similar to what it has been since 15 September. The implication was that traders were looking to profit from the futures market since the BTC spot was less likely to produce significant gains.

Furthermore, the exchange inflow and outflow indications showed no clear sign that bulls wouldrejoicethis October. According toSantiment, the exchange inflow and outflow was a close call at 5189 and 6579, respectively.

So, while there has been some selling pressure, there has also been a buying momentum to match. Hence, it was unclear who would win the Bitcoin momentum battle.

Go here to read the rest:
Bitcoin's latest prediction-turned-reality can be an investor's nightmare because... - AMBCrypto News

Read More..

Bitcoin, Ethereum Technical Analysis: BTC, ETH Lower on Saturday, as Bears Reenter the Market Market Updates Bitcoin News – Bitcoin News

Bearish sentiment returned to cryptocurrency markets on Saturday, as bitcoin was once again in the red. The worlds largest token moved lower to start the weekend, following yesterdays surge towards $20,000. Ethereum was also down today, falling below $1,300 in the process.

Bitcoin (BTC) was in the red to start the weekend, as bearish sentiment returned to cryptocurrency markets.

BTC was higher on Friday, as market uncertainty eased, following the latest U.S. inflation report, however it seems as though this turbulence has returned this weekend.

As a result, BTC/USD fell to an intraday low of $19,076.63 earlier in the day, less than a 24 hours after hitting a peak of $19,821.40.

Looking at the chart, the drop in price has pushed the 10-day (red) moving average (MA) close to an imminent downward crossover with its 25-day (blue) counterpart.

In addition to this, the 14-day relative strength index (RSI) is now back below the 50.00 mark, after failing to move past its ceiling of 55.00.

Should this momentum continue to decline, we could see prices heading towards a floor of $18,600.

Like bitcoin, ethereum (ETH) was also trading lower to start the weekend, with prices of the token falling below $1,300.

Following a move above its $1,330 ceiling on Friday, ETH/USD moved to a low of $1,280.18 earlier in todays session.

The drop sees the worlds second largest cryptocurrency hovering slightly above its floor of $1,275, which was last broken on Thursday.

On that day, the token dropped to a bottom of $1,190, however following the release of the U.S. inflation report, prices somewhat rebounded.

However, this rebound has been short lived, with the RSI also falling back towards a floor of 38.00.

Should price strength decline beyond this point, we could potentially see ethereum once again fall below $1,200.

Register your email here to get weekly price analysis updates sent to your inbox:

What do you believe has led to bears reentering the market this weekend? Leave your thoughts in the comments below.

Eliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Excerpt from:
Bitcoin, Ethereum Technical Analysis: BTC, ETH Lower on Saturday, as Bears Reenter the Market Market Updates Bitcoin News - Bitcoin News

Read More..