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Bitcoin and Cardanos ADA Weekly Technical Analysis June 29th, 2020 – Yahoo Finance

Bitcoin

Bitcoin fell by 1.87% in the week ending 28th June. Following on from a 0.45% decline from the previous week, Bitcoin ended the week at $9,125.4

It was a bullish start to the week, with Bitcoin rallying by 4.27% on Monday before hitting reverse.

The early breakout saw Bitcoin strike a Monday intraweek high $9,795.0 before sliding to a Saturday intraweek low $8,855.0.

Mondays rally saw Bitcoin break through the first major resistance level at $9,622 before sliding to sub-$9,000 levels.

The reversal saw Bitcoin fall through the first major support level at $8,947 and the 23.6% FIB of $8,900.

A Sunday recovery from early losses saw Bitcoin break back through to $9,000 levels to limit the loss of the week.

5 days in the red, including a 3.55% slide on Wednesday delivered a 3rd consecutive week in the red.

Bitcoin would need to move through the $9,258 weekly pivot to bring the first major resistance level at $9,662 into play.

Support from the broader market would be needed for Bitcoin to break back through to $9,500 levels.

Barring an extended crypto rally, the first major resistance level and last weeks high $9,795 would likely cap any upside.

In the event of a breakout, Bitcoin could take a run at $9,900 levels before any pullback.

Failure to move through the $9,258 pivot could see Bitcoin see red for a 4th consecutive week.

A pullback through to sub-$9,000 levels would bring the 23.6% FIB of $8,900 and the first major support level at $8,722 into play.

Barring an extended crypto rally, however, Bitcoin should steer well clear of sub-$8,000 levels. The second major support level at $8,318 should limit any downside in the week.

At the time of writing, Bitcoin was up by 0.17% to $9,141.1. A mixed start to the week saw Bitcoin fall to an early morning low $9,107.4 before rising to a high $9,147.7.

Bitcoin left the major support and resistance levels untested at the start of the week.

Cardanos ADA rose by 2.36% in the week ending 28th June. Following a 2.54% gain from the previous week, Cardanos ADA ended the week at $0.08024

It was a choppy start to the week for Cardanos ADA. A Monday 6.78% rally saw Cardanos ADA rise to an early in the week high $0.08515 before easing back.

Falling short of the first major resistance level at $0.08812, Cardanos ADA fell back to $0.082 levels before striking a Wednesday intraweek high $0.08738.

Falling short of the first major resistance level at $0.08812 once more, Cardanos ADA slid to a Saturday intraweek low $0.07427.

While falling through the weeks $0.7520 pivot, Cardanos ADA avoided the first major support level at $0.06531.

In spite of 5 consecutive days in the red, Mondays 6.78% rally and a 3.82% gain on Sunday delivered the upside.

Cardanos ADA would need to avoid a fall through the $0.08060 pivot to support a run at the first major resistance level at $0.087.

Support from the broader market would be needed, however, for Cardanos ADA to break out from $0.085 levels.

Barring another extended crypto rally, the first major resistance level and last weeks high $0.08738 would likely cap any upside.

Failure to avoid a fall through the $0.08060 pivot could see Cardanos ADA reverse early gains.

A pullback through to sub-$0.080 levels would bring the first major support level at $0.07388 into play.

Story continues

Barring an extended broader-market sell-off, however, Cardanos ADA should continue to avoid sub-$0.060 levels. The second major support level at $0.06752 should limit any downside in the week.

At the time of writing, Cardanos ADA was up by 3.23% to $0.08283. A bullish start to the week saw Cardanos ADA rally from an early Monday low $0.07996 to a high $0.08385.

Cardanos ADA left the major support and resistance levels untested at the start of the week.

This article was originally posted on FX Empire

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Theory of Bitcoin: Essential knowledge from Craig Wright and Ryan X. Charles – CoinGeek

Are you an experienced Bitcoiner, or just starting out? What do you think you know about Bitcoin, and are you prepared to accept theres still a lot to learn? Money Button founder Ryan X. Charles has joined Bitcoin inventor Dr. Craig Wright for a video series of in-depth discussions everyone should watch.

Dr. Wright proposed the discussion series to Charles earlier this year, promising to help him understand the other 99% of Bitcoin. They then decided to release their recordings to the publicsince, if a veteran like Charles understands only 1% of Bitcoins potential, then everyone else would have a lot to gain from it too.

The first video in the series, titled Introduction Theory of Bitcoin, would be equally useful to someone approaching Bitcoin for the first time, whether or not they had any preconceptions. Even many in the BSV community have re-evaluated their thoughts on Bitcoins purpose and future in recent yearsperhaps even the Bitcoin Core (BTC) community, since BTC has mostly failed to gain mainstream adoption.

The (re)introduction to Bitcoin everyone needs

Understanding Bitcoin in 2020 involves a lot of un-learning, or realizing what Bitcoin is not. Dr. Wright begins by saying we should stop using the term cryptocurrency, since currency is not the same as money, and Bitcoin is not encrypted.

Ryan asks the question many of us have heard but plenty still havent: Why did you create Bitcoin? Its mostly about making payments on the internet, and Dr. Wright isnt necessarily talking about online shopping. The two then talk about how Bitcoins initial anarchic reputation grew from previous attempts to create an online currency, plus a few misconceptions that spread in Bitcoins early dayswhich may have been intentional.

The myth was there, and rather than actually correcting everything, they tried to alter to fit the narrative.

People shouldnt expect Bitcoin to replace national currencies, or eliminate taxes, at all. But it could automate them and make it simpler, reduce fraud and its costs, and finally bestow upon the Internet the built-in commerce system its inventors originally wanted.

Bitcoin ideology: yes, theres plenty

Like any conversation with Dr. Wright, theres a lot of philosophy mixed in with the tech talk. Dr. Wright has plenty of disdain for Silicon Valleys current drive for intelligent machines, and its almost anti-human outlook. He is one of the few leaders in technology who constantly reminds us that people should always be more important than machines.

The push for AI is partly to absolve humans from responsibility for the decisions they make, Dr. Wright says. The excuse is always about agency. Moreover, replacing more and more workers may create more higher-end jobs, but it will create a massive underclass of people with nothing to do. And no-one wants to talk about that.

Dr. Wright is not an egalitarian, and says equality is not only impossible, but undesirable. Hierarchy is inherent in human society and the form of money it uses doesnt make any difference.

We dont have a right to happiness we have a right to pursue happiness. We wouldnt have poetry if we didnt have unhappy people!

People still need to be motivated to work, to create, to learn. You cant impose any ideology or economic system to change that.

Money is not evil, capitalism is not bad; we dont live under capitalism today

Theres a misconception in the world today that capitalism is bad. Capitalism is not bad, but thats not the system we have today, Dr. Wright says. For true capitalism to work, We have to want people who want to work. We have to have a society that wants more, that needs more, that wants to strive, that isnt going to be satisfied where they are.

We end up with perverse situations where people worship profit for the sake of profit. Not thinking long term, just I have more money But its not even money that people want.

Money is just a tool people use to obtain what they really want, Dr. Wright says. Whether its status, power, or whatever. Bitcoin wont create wealth by itself, but its a much better tool to help people create wealth.

That said, there is some of Dr. Wrights ideology in Bitcoin, its not completely neutral. Dr. Wright has a lot to say about auditing and fraud prevention. One major causes of fraud is the opportunity to commit the crime itself. Bitcoins transparent, distributed ledger removes most of the opportunity, or as Ryan puts it, helps to create a more honest world. Its also designed, Dr. Wright says, to create a better form of capitalism that works for more people, by making commerce more efficient. Its about automating payments and taxes, spending less time auditing and accounting, and transacting in micro-amounts rather than lumps.

Youll also hear a lot more about security, economics, politics, law, and of course technology. Dr. Wright has some interesting views on Augmented Reality and its ability to assist with memory, social interactions, and human networksand where Bitcoin fits into it all.

There will be several more videos in this series. If this introduction is any indication, the rest will be both educational and thought-provoking, and full of quotable quotes. Watch them whether youre a seasoned Bitcoiner or just a beginner, there is something useful in there for everyone.

Subscribe to the Theory of Bitcoin channel here.

New to Bitcoin? Check out CoinGeeksBitcoin for Beginnerssection, the ultimate resource guide to learn more about Bitcoinas originally envisioned by Satoshi Nakamotoand blockchain.

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Bolstering Separation of Money and State Following the 244th Independence Day – Bitcoin News

With the fourth of July approaching, many Americans will have to contemplate whether or not the holiday is an empty affair. After the last thirteen weeks of Covid-19 lockdowns, business shutdowns, and police brutality, the lack of liberty and freedoms in the U.S. has never been more apparent. With ideas like bitcoin and concepts that bolster secession, the day is coming when money is completely removed from the state, just as the state was separated from the church centuries ago.

Roughly six days prior to the empty holiday, as I read the letters of Independence pronouncement adopted in Philadelphia, Pennsylvania, on July 4, 1776, I say to myself Americans are not free. The majority in the United States have surrendered their freedoms and civil liberties to the collective mob. Many individualists are quite certain that most Americans dont believe in those declarations of independence, and the 27 grievances against tyranny written hundreds of years ago.

One reason that validates this opinion as truth, is because the U.S. government has transgressed upon the citizenry. They have quite literally violated every one of the 27 grievances. Yet the majority of U.S. citizens are too comfortable and too lost in the sea of distraction to even notice.

One thing I will be promoting on July 4, 2020, is real independence and the use of counter-economics, in order to separate finance from the state. The separation of money and state is the ideal solution for striking the root. The New Ideal author, Onkar Ghate, describes it very well in an April 2019 essay.

The essay explains how Thomas Jefferson, John Locke, and James Madison all vowed to separate the church from state, as this was a fundamental right of sovereign individuals. However, the philosophy can easily be applied to finance too, as Ghate and many others have argued for economic freedom for many decades.

The arguments for intellectual freedom and economic freedom share the same root: the requirements of the rational mind to guide the individual, Ghates essay details.

Ghates explains how the well known novelist, Ayn Rand, took the individualist ideas from Jefferson, Madison, and Locke and extended it to all human actions like education, scientific research, the arts, and especially finance. Rand argued that governmental schools, governmental funding of scientific research, and governmental funding of the arts violate the individuals right to intellectual freedom, Ghates essay highlights. The author also adds:

Intellectual freedom cannot exist without political freedom; political freedom cannot exist without economic freedom; a free mind and a free market are corollaries.

The founder of Shapeshift, Erik Voorhees, said in March 2015 at the Texas Bitcoin Conference, the reason he has bolstered the idea of bitcoin is because he wants to separate finance from the state.

It is that narrative of human development under which I believe that we now have other fights to fight, and I would say in the realm of bitcoin it is mainly the separation of money and state, Voorhees explained on stage. The Shapeshift CEO added:

Money is absolutely as fundamental to our lives as religion, and for many people it is far more fundamental to their lives as religion. It affects how your life unfolds. The choices that you make about money dictate the ramifications of your life and those around you. And so, to have an institution like money so controlled by a central entity by a monopoly is absurd. It is immoral. We should get rid of it.

Similarly, the American populace has the right to separate themselves, and dissolve the political bands which have connected them with another, and to assume among the powers of the earth, the separate and equal station to which the Laws of Nature and of Natures God entitle them. This is clearly stated on the Declaration of Independence parchment.

Essentially, the letters of Independence highlight that Americans, but more importantly all sovereign earthlings, should simply declare the separation. A decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation, the transcription of the stone engraving of the parchment Declaration of Independence stresses. All sovereign individuals have a right to separate their finances from the state, just as they have the right to separate religious beliefs from government affairs.

By leveraging precious metals, cryptocurrencies like bitcoin (BTC), bitcoin cash (BCH), dash (DASH), litecoin (LTC), monero (XMR) ethereum (ETH) and many others, while also practicing barter and trade techniques, it will help strengthen the counter-economy. The counter-economy, at some point, will grow so large that it eclipses the fraudulent and manipulated economy created by the oligarchs and status quo.

Without funding, the state will not be able to continue the endless wars. Without the participation of people using the oligarchs promissory notes, taxation will take place less and less. Even Edward Snowden, the famous U.S. whistleblower explained in an interview published by the American Civil Liberties Union in 2018, that bitcoin would help cushion financial liberties. Snowden also once said on Twitter that new technologies raise the possibility of unstoppable tax protests.

I like Bitcoin transactions in that they are impartial They cant really be stopped or reversed, without the explicit, voluntary participation by the people involved, Snowden said during the interview. Lets say Bank of America doesnt want to process a payment for someone like me. In the old financial system, theyve got an enormous amount of clout, as do their peers, and can make that happen. If a teenager in Venezuela wants to get paid in hard currency for a web development gig they did for someone in Paris, something prohibited by local currency controls, cryptocurrencies can make it possible. Snowden continued by adding:

Bitcoin may not yet really be private money, but it is the first free money.

On July 4, 2020, and just like every Independence Day Ive celebrated in the past decade, I will let people know that the freedom they honor every year is lacking. In fact, freedom, at least going by the American writings written in the 1700s, is barely existent. The only way to separate ourselves from the beast of government is to separate money from it immediately.

Essentially, the state wont have a choice and even right now, government fiat must compete with a $250 billion dollar free market filled with over 5,000 cryptocurrencies. During the 2015 Texas Bitcoin Conference, Vorhees further explained that people leveraging bitcoin will help bolster the need for change.

It seems crazy to say this, but perhaps we should permit competition in money, permit competition in financial structures, just as we permit competition in religion, Vorhees concluded. We allow multiple churches to exist. Why do we do that? And why dont we do that with money? I think its a hypocrisy that our children will someday look back on and realize, Wow, that was really obvious. And Bitcoin is what will bring that change about.

If Americans truly believe in the letters of independence, then they should separate themselves from the very government that transgresses against them. Right now, believers of the non-aggression axiom have lots of choices to make and many forms of human action can help fulfill decentralized goals.

There is no doubt, cryptocurrency and Satoshis vision was founded with the ideals of separation of state and money. Instead of focusing on red white and blue paper plates and patriotic t-shirts from Walmart, maybe Americans should invoke the revolutionary spirit they once held, and actually do something about this tyrannical beast who has devoured their freedoms.

If you are interested in learning about the many methods of crypto anarchy and the myriad of ways to opt-out and vacate the state Check out these essays below.

What do you think about separating money from state? Let us know what you think about this subject in the comments section below.

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.

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Eric and Wendy Schmidt back Cambridge University effort to equip researchers with A.I. skills – CNBC

Google Executive Chairman Eric Schmidt

Win McNamee | Getty Images

Schmidt Futures, the philanthropic foundation set up by billionaires Eric and Wendy Schmidt, is funding a new program at the University of Cambridge that's designed to equip young researchers with machine learning and artificial intelligence skills that have the potential to accelerate their research.

The initiative known as the Accelerate Program for Scientific Discovery will initially be aimed at researchers in science, technology, engineering, mathematics and medicine. However, it will eventually be available for those studying arts, humanities and social science.

Some 32 PhD students will receive machine-learning training through the program in the first year, the university said, adding that the number will rise to 160 over five years. The aim is to build a network of machine-learning experts across the university.

"Machine learning and AI are increasingly part of our day-to-day lives, but they aren't being used as effectively as they could be, due in part to major gaps of understanding between different research disciplines," Professor Neil Lawrence, a former Amazon director who will lead the program, said in a statement.

"This program will help us to close these gaps by training physicists, biologists, chemists and other scientists in the latest machine learning techniques, giving them the skills they need."

The scheme will be run by four new early-career specialists, who are in the process of being recruited.

The Schmidt Futures donation will be used partly to pay the salaries of this team, which will work with the university's Department of Computer Science and Technology and external companies.

Guest lectures will be provided by research scientists at DeepMind, the London-headquartered AI research lab that was acquired by Google.

The size of the donation from Schmidt Futures has not been disclosed.

"We are delighted to support this far-reaching program at Cambridge," said Stuart Feldman, chief scientist at Schmidt Futures, in a statement. "We expect it to accelerate the use of new techniques across the broad range of research as well as enhance the AI knowledge of a large number of early-stage researchers at this superb university."

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Change Our Mind: it is your civic duty to buy performance estates – Top Gear

A friend of mine in America recently tried to buy a new Volvo estate. This should not have been an especially taxing endeavour, given that Volvo is in the business of selling them and the friend in question had both ample money and inclination to buyone.

He wanted the new Polestar Engineered V60, which combinesturbocharging, hybrid propulsion and delicate sprinklings of lunacy to become a 400bhp, all-wheel-drive estate with adjustable hlins suspension and the ability to run from 0-60 in the low fours. As this is a pretty specialised bit of kit, Volvo in America decided to make the Polestar V60 special-order only. So far, sosensical.

And when his local Volvo dealer did what car dealers tend todo, he decided that they could take a long drive along an as-yet-unfinished bridge and looked elsewhere for his next set of wheels. So far, still sosensical.

And the very next car he wanted to try was the GLC 63 coupe. So far, so giant high-performance purplewellington.

What could have caused such a phase shift from such off-the-wall awesomeness to the very apotheosis of ugliness? Its quite an achievement to make a car with an AMG V8 only slightly less appealing than licking the medical waste bin of a New York hospital, but surely the award for biggest (and least sensical) achievement had to go to my friend, to decide to forgo not just one particular estate, but estates in their entirety, and instead choose something thatd terrify deep-seacreatures.

But after castigating him for a solid 15 minutes or so, he explained his dilemma: hardly anyone in America was selling quick estates. And its not just in the home of the freethat this is happening,either.

Alfa Romeos excellent Giulia QV can only be improved by two things: having it work more often and offering an estate version. But Alfa decided to build an SUV version instead, because thats where the money is. BMWs superlative M5 is also unavailable as an estate. Cadillac dropped the CTS-V wagon long before the CTS bowed out, and Holden went belly-up entirely, taking its line of LS-powered rear-drive estates with it. All over the world, performance estates are finding that either a fat lady or a swan issinging.

Were it not for just a few manufacturers like Audi, Volvo and Mercedes, the proper family-sized performance estate would cease to exist. Thats because, as you may have already figured out, car makers are not charities. And the business case for making quick estates is clearly too weak for all but the biggest marques (or their subsidiaries) to get past the accountants. A quick SUV gets rubber-stamped at a speed thatd shame anautocrat.

The problem is vast but the solution is simple. It is your civic duty, while you are still able, to buy performance estates and revive the single greatest motoring niche in theworld.

Remember that as much as manufacturers pretend to believe that each new car they release is the second coming of sliced bread, some, like the GLC 63 coupe, the X6 M and any number of useless behemoths like them, are still actively terrible. And if you decide not to buy one, car makers will either change it until you like it or drop itentirely.

So, like any capitalist will tell you, the only vote that really counts is with your wallet. Buy performance estates to reward manufacturers for making them and to punish others for making ridiculous performance SUVs, which is akin to making a performance PennyFarthing.

Straight away, youll be better off, because estates are better to drive, better to own, better for the environment, generally better in terms of luggage and loading space, and better to look at thanSUVs.

Buying a performance estate is even altruistic. If you buy a new super-wagon now, manufacturers will keep selling quick estates for future generations to enjoy, or they can pick up todays examples second-hand a few years hence. Take a second to sit quietly and ask yourself: do you want your kids and their kids teetering ten feet from the ground in a steroidal road behemoth, because theyve been sold a lie that says its the only way to combine practicality andperformance?

Of course not. Do the right thing for yourself, for your descendents and for the manufacturers pursuing this wayward path because they think its what we actually want. But do it soon, or all thats going to be left is a series of giant high-performance purplewellingtons.

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Moving forward by turning to the past: Oregon Historical Quarterly takes a deep dive into Oregons white supremacist roots – KGW.com

Editors of the Oregon Historical Societys scholarly journal talk about how understanding the role white supremacy played in our past has impacted our present.

OREGON, USA To move forward, we must first understand our past. That was the goal of the Oregon Historical Societys 2019 winter issue of Oregon Historical Quarterly (OHQ).

Were a scholarly journal we do academic history, OHQ Editor Eliza Canty-Jones said. And so being able to get into those complexities and those subtleties in a way that helps surface that structure overall, thats our sweet spot. Thats what were able to do.

The scholarly journals special winter 2019 issue: 'White Supremacy and Resistancedigs deep into Oregons white supremacist roots from glaring to subtle chapters from the past.

The scholar examines a vast range of prolonged white supremacy; from violence against tribal peoples as white pioneers made their way west, to the discriminatory practices in the Labor Movement, and the murder of Mulugeta Seraw, an Ethiopian college student killed by White supremacists in Portland in 1988.

Its everything. I mean thats what Im saying, our whole societyis formed on a system of white supremacy, Independent Historian Carmen P. Thompson said. And people dont want to accept that, for obvious reasons, right? I mean, I get it, but it is what it is.

Carmen P. Thompson sits on the board for OHQ. She and Darrell Millner were brought on as guest editors for the winter issue.

Its probably the hardest thing that Ive done outside of my own dissertation, Thompson said. Because you have to put a lot of care and work into really unpacking a subject that is so layered and expresses itself in so many different ways and has impacted various other groups of people, besides African Americans.

The OHQ winter issue opens with a note from Thompson, asking readers to begin reading with an open mind, that the issue does not put blame onto readers who are labeled as white, but it is meant as a call to self-reflection.

Something that is not always as simple as it sounds when confronting our racist roots.

Thompson says confronting the racist history of the state and country is the first step to learning from it.

We have to first acknowledge that fact. Then you can go forward, she said.

It was important for us to open the issue by acknowledging that its not easy to read about this history, Canty-Jones said. And that some folks, I dont think we use this word, but I think we all know that sometimes white folks can feel a little defensive when confronted with history and the legacy of white supremacy because it can feel personal.

The primary goal of the winter edition of OHQ is to help readers understand white supremacy, not only as the Klu Klux Klan, but as a collective set of codes, spoken and unspoken, explicit and implied, that society enforces through its institutions, governments, and legal structures in order to keep those deemed as white on top and every other racial group below them with specific emphasis, in the United States, on keeping Black people at the bottom.

Folks who study history, we are in a really good place for being able to see those structures of white supremacy because you really do have that 20/20 hindsight when you look behind you and it can become quite clear, Canty-Jones said.

That is the hope of this issue: to give historical and blatant examples of how white supremacy is deeply ingrained in our states past and breaking down myths of Oregon exceptionalism.

We are taught these myths because they can make us feel good, right? But who do they make feel good? Who does the myth of the pioneer conquering the wilderness in Oregon who does that make feel good and who does that totally disregard? A place where people have lived and tended for thousands and thousands of years and crafted a landscape and ecology how can you call that wilderness? Right? And yet thats how we often talk about it, Canty-Jones said.

Investing in our own understanding of the state and nations past is essential, according to Thompson, because she says what we learned in school is not the whole story.

We all, growing up in American society, have the same knowledge. So, that tells you that it is intentional and its part of this overall framework where is the educational system that we have - in elementary, and secondary, and college - is all a part of these structures in American society that reinforces white supremacy and a certain way of thinking, Thompson said.

The special issue of OHQ took nearly three years to complete with painstaking research, review, and purpose.

The idea to tackle the subject started in June of 2017, soon after one of the most violent acts of white supremacy in Portlands recent history: the MAX attack stabbings.

Two people were killed and another severely injured while standing up for two women of color on a MAX train in 2017.

I think those attacks were the most gruesome and dramatic at that time really recent example of violent while supremacy in action, Canty-Jones said. But of course, its a room full of historians and archivist who study and think about the past, and so they know that that was part of a bigger system and a bigger structure of white supremacy that has been in our state and in our nation thought their history.

The man wielding the knife and racist rant that day, Jeremy Christian, was just recently sentenced to life in prison without parole. While he will spend the rest of his life behind bars, white supremacy is still roaming freely.

The impact of our racial power structure continues to thrive today. For many people of color that fact is unavoidable, for many white people its often easily dismissed or downplayed. However, when we open our minds to the past to the full scope of our historical experience we just might be able to learn and grow together.

We have to think about what our history is in service of and at the Oregon Historical Society, our vision is that we foster a better tomorrow when we have an Oregon story that is meaningful to all Oregonians. So, a story that is true and complicated and has the good and the bad and the ugly: that is a meaningful story for all Oregonians, Canty-Jones said. So, if we look for history just to bolster us up and make us feel good were really not going to understand who we are and why we are the way we are. But if we look at it as a way to really truly understand where some of our problems and divisions and inequities come from then we have the tools to address those.

I think this is a time when its kind of catching on, Thompson said. And I do think that were at a point where more white people, more than ever, are wanting to participate or at least listen and understand and believe what African American people have been saying forever.

The Oregon Historical Quarterly Special Winter Issue is available for $15 right now.CLICK HERE to learn more.

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Research: Artificial neural networks are more similar to the brain than we thought – TNW

This article is part of ourreviews of AI research papers, a series of posts that explore the latest findings in artificial intelligence.

Consider the animal in the following image. If you recognize it, a quick series of neuron activations in your brain will link its image to its name and other information you know about it (habitat, size, diet, lifespan, etc). But if like me, youve never seen this animal before, your mind is now racing through your repertoire of animal species, comparing tails, ears, paws, noses, snouts, and everything else to determine which bucket this odd creature belongs to. Your biological neural network is reprocessing your past experience to deal with a novel situation.

(source: Wikipedia)

Our brains, honed through millions of years of evolution, are very efficient processing machines, sorting out the ton of information we receive through our sensory inputs, associating known items with their respective categories.

That picture, by the way, is an Indian civet, an endangered species that has nothing to do with cats, dogs, and rodents. It should be placed in its own separate category (viverrids). There you go. You now have a new bucket to place civets in, which includes this variant that was sighted recently in India.

While we have yet to learn much about how the mind works, we are in the midst (or maybe still at the beginning) of an era of creating our own version of the human brain. After decades of research and development, researchers have managed to create deep neural networks that sometimes match or surpass human performance in specific tasks.

[Read: Artificial vs augmented intelligence: whats the difference?]

But one of the recurring themes in discussions about artificial intelligence is whether artificial neural networks used in deep learning work similarly to the biological neural networks of our brains. Many scientists agree that artificial neural networks are a very rough imitation of the brains structure, and some believe that ANNs are statistical inference engines that do not mirror the many functions of the brain. The brain, they believe, contains many wonders that go beyond the mere connection of biological neurons.

A paper recently published in the peer-reviewed journal Neuron challenges the conventional view of the functions of the human brain. Titled Direct Fit to Nature: An Evolutionary Perspective on Biological and Artificial Neural Networks, the paper discusses that contrary to the beliefs of many scientists, the human brain is a brute-force big data processor that fits its parameters to the many examples that it experiences. Thats the kind of description usually given to deep neural networks.

Authored by researchers at Princeton University, the thought-provoking paper provides a different perspective on neural networks, analogies between ANNs and their biological counterparts, and future directions for creating more capable artificial intelligence systems.

Neuroscientists generally believe that the complex functionalities of the brain can be broken down into simple, interpretable models.

For instance, I can explain the complex mental process of my analysis of the civet picture (before I knew its name, of course), as such: Its definitely not a bird because it doesnt have feathers and wings. And it certainly isnt a fish. Its probably a mammal, given the furry coat. It could be a cat, given the pointy ears, but the neck is a bit too long and the body shape a bit weird. The snout is a bit rodent-like, but the legs are longer than most rodents and finally I would come to the conclusion that its probably an esoteric species of cat. (In my defense, it is a very distant relative of felines if you insist.)

Artificial neural networks, however, are often dismissed as uninterpretable black boxes. They do not provide rich explanations of their decision process. This is especially true when it comes to the complex deep neural networks that are composed of hundreds (or thousands of layers) and millions (or billions) or parameters.

During their training phase, deep neural networks review millions of images and their associated labels, and then they mindlessly tune their millions of parameters to the patterns they extract from those images. These tuned parameters then allow them to determine which class a new image belongs to. They dont understand the higher-level concepts that I just mentioned (neck, ear, nose, legs, etc.) and only look for consistency between the pixels of an image.

The authors of Direct Fit to Nature acknowledge that neural networksboth biological and artificialcan differ considerably in their circuit architecture, learning rules, and objective functions.

All networks, however, use an iterative optimization process to pursue an objective, given their input or environmenta process we refer to as direct fit, the researchers write. The term direct fit is inspired from the blind fitting process observed in evolution, an elegant but mindless optimization process where different organisms adapt to their environment through a series of random genetic transformations carried out over a very long period.

This framework undercuts the assumptions of traditional experimental approaches and makes unexpected contact with long-standing debates in developmental and ecological psychology, the authors write.

Another problem that the artificial intelligence community faces is the tradeoff between interpretability and generalization. Scientists and researchers are constantly searching for new techniques and structures that can generalize AI capabilities across vaster domains. And experience has shown that, when it comes to artificial neural networks, scale improves generalization. Advances in processing hardware and the availability of large compute resources have enabled researchers to create and train very large neural networks in reasonable timeframes. And these networks have proven to be remarkably better at performing complex tasks such as computer vision and natural language processing.

The problem with artificial neural networks, however, is that the larger they get, the more opaque they become. With their logic spread across millions of parameters, they become much harder to interpret than a simple regression model that assigns a single coefficient to each feature. Simplifying the structure of artificial neural networks (e.g., reducing the number of layers or variables) will make it easier to interpret how they map different input features to their outcomes. But simpler models are also less capable in dealing with the complex and messy data found in nature.

We argue that neural computation is grounded in brute-force direct fitting, which relies on over-parameterized optimization algorithms to increase predictive power (generalization) without explicitly modeling the underlying generative structure of the world, the authors of Direct Fit to Nature write.

Say you want to create an AI system that detects chairs in images and videos. Ideally, you would provide the algorithm with a few images of chairs, and it would be able to detect all types of normal as well as wacky and funky ones.

Are these chairs?

This is one of the long-sought goals of artificial intelligence, creating models that can extrapolate well. This means that, given a few examples of a problem domain, the model should be able to extract the underlying rules and apply them to a vast range of novel examples it hasnt seen before.

When dealing with simple (mostly artificial) problem domains, it might be possible to reach extrapolation level by tuning a deep neural network to a small set of training data. For instance, such levels of generalization might be achievable in domains with limited features such as sales forecasting and inventory management. (But as weve seen in these pages, even these simple AI models might fall apart when a fundamental change comes to their environment.)

But when it comes to messy and unstructured data such as images and text, small data approaches tend to fail. In images, every pixel effectively becomes a variable, so analyzing a set of 100100 pixel images becomes a problem with 10,000 dimensions, each having thousands or millions of possibilities.

In cases in which there are complex nonlinearities and interactions among variables at different parts of the parameter space, extrapolation from such limited data is bound to fail, the Princeton researchers write.

The human brain, many cognitive scientists believe, can rely on implicit generative rules without being exposed to rich data from the environment. Artificial neural networks, on the other hand, do not have such capabilities, the popular belief is. This is the belief that the authors of Direct Fit to Nature challenge.

Dense sampling of the problem space can flip the problem of prediction on its head, turning an extrapolation-based problem into an interpolation-based problem, the researchers note.

In essence, with enough samples, you will be able to capture a large enough area of the problem domain. This makes it possible to interpolate between samples with simple computations without the need to extract abstract rules to predict the outcome of situations that fall outside the domain of the training examples.

When the data structure is complex and multidimensional, a mindless direct-fit model, capable of interpolation-based prediction within a real-world parameter space, is preferable to a traditional ideal-fit explicit model that fails to explain much variance in the data, the authors of Direct Fit to Nature write.

Extrapolation (left) tries to extract rules from big data and apply them to the entire problem space. Interpolation (right) relies on rich sampling of the problem space to calculate the spaces between samples.

In tandem with advances in computing hardware, the availability of very large data sets has enabled the creation of direct-fit artificial neural networks in the past decade. The internet is rich with all sorts of data from various domains. Scientists create vast deep learning data sets from Wikipedia, social media networks, image repositories, and more. The advent of the internet of things (IoT) has also enabled rich sampling from physical environments (roads, buildings, weather, bodies, etc.).

In many types of applications (i.e., supervised learning algorithms), the gathered data still requires a lot of manual labor to associate each sample with its outcome. But nonetheless, the availability of big data has made it possible to apply the direct-fit approach to complex domains that cant be represented with few samples and general rules.

One argument against this approach is the long tail problem, often described as edge cases. For instance, in image classifications, one of the outstanding problems is that popular training data sets such as ImageNet provides millions of pictures of different types of objects. But since most of the pictures were taken under ideal lighting conditions and from conventional angles, deep neural networks trained on these datasets fail to recognize those objects in rare positions.

ImageNet vs reality: In ImageNet (left column) objects are neatly positioned, in ideal background and lighting conditions. In the real world, things are messier (source: objectnet.dev)

The long tail does not pertain to new examples per se, but to low-frequency or odd examples (e.g. a strange view of a chair, or a chair shaped like an unrelated object) or riding in a new context (like driving in a blizzard or with a flat tire), co-authors of the paper Uri Hasson, Professor at Department of Psychology and Princeton Neuroscience Institute, and Sam Nastase, Postdoctoral researcher at Princeton Neuroscience Institute, told TechTalks in written comments. Note that biological organisms, including people, like ANNs, are bad at extrapolating to contexts they never experienced; e.g. many people fail spectacularly when driving in snow for the first time.

Many developers try to make their deep learning models more robust by blindly adding more samples to the training data set, hoping to cover all possible situations. This usually doesnt solve the problem, because the sampling techniques dont widen the distribution of the data set, and edge cases remain uncovered by the easily collected data samples. The solution, Hasson and Nastase argue, is to expand the interpolation zone by providing a more ecological, embodied sampling regime for artificial neural networks that currently perform poorly in the tail of the distribution.

For example, many of the oddities in classical human visual psychophysics are trivially resolved by allowing the observer to simply move and actively sample the environment (something essentially all biological organisms do), they say. That is, the long-tail phenomenon is in part a sampling deficiency. However, the solution isnt necessarily just more samples (which will in large part come from the body of the distribution), but will instead require more sophisticated sampling observed in biological organisms (e.g. novelty seeking).

This observation is in line with recent research that shows employing a more diverse sampling methodology can in fact improve the performance of computer vision systems.

In fact, the need for sampling from the long tail also applies to the human brain. For instance, consider one of the oft-mentioned criticisms against self-driving cars which posits that their abilities are limited to the environments theyve been trained in.

Even the most experienced drivers can find themselves in a new context where they are not sure how to act. The point is to not train a foolproof car, but a self-driving car that can drive, like humans, in 99 percent of the contexts. Given the diversity of driving contexts, this is not easy, but perhaps doable, Hasson and Nastase say. We often overestimate the generalization capacity of biological neural networks, including humans. But most biological neural networks are fairly brittle; consider for example that raising ocean temperatures 2 degrees will wreak havoc on entire ecosystems.

Many scientists criticize AI systems that rely on very large neural networks, arguing that the human brain is very resource-efficient. The brain is a three-pound mass of matter that uses little over 10 watts of electricity. Deep neural networks, however, often require very large servers that can consume megawatts of power.

But hardware aside, comparing the components of the brain to artificial neural networks paints a different picture. The largest deep neural networks are composed of a few billion parameters. The human brain, in contrast, is constituted of approximately 1,000 trillion synapses, the biological equivalent of ANN parameters. Moreover, the brain is a highly parallel system, which makes it very hard to compare its functionality to that of ANNs.

Although the brain is certainly subject to wiring and metabolic constraints, we should not commit to an argument for scarcity of computational resources as long as we poorly understand the computational machinery in question, the Princeton researchers write in their paper.

Another argument is that, in contrast to ANNs, the biological neural network of the human brain has very poor input mechanisms and doesnt have the capacity to ingest and process very large amounts of data. This makes it inevitable for human brains to learn new tasks without learning the underlying rules.

To be fair, calculating the input entering the brain is complicated. But we often underestimate the huge amount of data that we process. For example, we may be exposed to thousands of visual exemplars of many daily categories a year, and each category may be sampled at thousands of views in each encounter, resulting in a rich training set for the visual system. Similarly, with regard to language, studies estimate that a child is exposed to several million words per year, the authors of the paper write.

One thing that cant be denied, however, is that humans do in fact extract rules from their environment and develop abstract thoughts and concepts that they use to process and analyze new information. This complex symbol manipulation enables humans to compare and draw analogies between different tasks and perform efficient transfer learning. Understanding and applying causality remain among the unique features of the human brain.

It is certainly the case that humans can learn abstract rules and extrapolate to new contexts in a way that exceeds modern ANNs. Calculus is perhaps the best example of learning to apply rules across different contexts. Discovering natural laws in physics is another example, where you learn a very general rule from a set of limited observations, Hasson and Nastase say.

These are the kind of capabilities that emerge not from the activations and interactions of a single neural network but are the result of the accumulated knowledge across many minds and generations.

This is one area that direct-fit models fall short, Hasson and Nastase acknowledge. Scientifically, it is called System 1 and System 2 thinking. System 1 refers to the kind of tasks that can be learned by rote, such as recognizing faces, walking, running, driving. You can perform most of these capabilities subconsciously, while also performing some other task (e.g., walking and talking to someone else at the same time, driving and listening to the radio). System 2, however, requires concentration and conscious thinking (can you solve a differential equation while jogging?).

In the paper, we distinguish fast and automatic System 1 capacities from the slow and deliberate cognitive functions, Hasson and Nastase say. While direct fit allows the brain to be competent while being blind to the solution it learned (similar to all evolved functional solutions in biology), and while it explains the ability of System 1 to learn to perceive and act across many contexts, it still doesnt fully explain a subset of human functions attributed to System 2 which seems to gain some explicit understanding of the underlying structure of the world.

So what do we need to develop AI algorithms that have System 2 capabilities? This is one area where theres much debate in the research community. Some scientists, including deep learning pioneer Yoshua Bengio, believe that pure neural network-based systems will eventually lead to System 2 level AI. New research in the field shows that advanced neural network structures manifest the kind of symbol manipulation capabilities that were previously thought to be off-limits for deep learning.

In Direct Fit to Nature, the authors support the pure neural networkbased approach. In their paper, they write: Although the human mind inspires us to touch the stars, it is grounded in the mindless billions of direct-fit parameters of System 1. Therefore, direct-fit interpolation is not the end goal but rather the starting point for understanding the architecture of higher-order cognition. There is no other substrate from which System 2 could arise.

An alternative view is the creation of hybrid systems that incorporate classic symbolic AI with neural networks. The area has drawn much attention in the past year, and there are several projects that show that rule-based AI and neural networks can complement each other to create systems that are stronger than the sum of their parts.

Although non-neural symbolic computingin the vein of von Neumanns model of a control unit and arithmetic logic unitsis useful in its own right and may be relevant at some level of description, the human System 2 is a product of biological evolution and emerges from neural networks, Hasson and Nastase wrote in their comments to TechTalks.

In their paper, Hasson and Nastase expand on some of the possible components that might develop higher capabilities for neural networks. One interesting suggestion is providing a physical body for neural networks to experience and explore the world like other living beings.

Integrating a network into a body that allows it to interact with objects in the world is necessary for facilitating learning in new environments, Hasson and Nastase said. Asking a language model to learn the meaning of words from the adjacent words in text corpora exposes the network to a highly restrictive and narrow context. If the network has a body and can interact with objects and people in a way that relates to the words, it is likely to get a better sense of the meaning of words in context. Counterintuitively, imposing these sorts of limitations (e.g. a body) on a neural network can force the neural network to learn more useful representations.

This article was originally published byBen Dickson on TechTalks, a publication that examines trends in technology, how they affect the way we live and do business, and the problems they solve. But we also discuss the evil side of technology, the darker implications of new tech and what we need to look out for. You can read the original article here.

Read next: BetterMe Home Workout and Diet can help you bounce back from the Quarantine 15

Why is queer representation so important? What's it like being trans in tech? How do I participate virtually? You can find all our Pride 2020 coverage here.

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Research: Artificial neural networks are more similar to the brain than we thought - TNW

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Is that really everything you have to give? | Yon – Tallahassee Democrat

David YonGuest columnistDavid Yon(Photo: David Yon)

There is a bewitching effect that comes from chasing an unreachable march, both on a personal basis and a worldwide stage. Especially, when those achievements previously were thought to represent the outer reach of human achievement. Running examples include the 4-minute mile and the sub 2-hour marathon.

Most active runners (and other athletes) spend at least some time trying to test their limits. And of course, racing is one way to do so.

Perhaps the 4-minute mile becomes the 6-minute mile and the sub 2-hour marathon becomes sub 3-hour marathon.

While the weeks of quarantine keep ticking by choking the life out of the racing season, the memories of what it is like to race are growing dim. It is a great time to turn to a book.

Quite some time ago, Gary Griffin loaned me a book titled "Endure," written by Alex Hutchinson.While I loved and highly recommend this book, be aware it contains a lot of detailed statistical analyses looking for the limits of human endurance in many activities.

Of course, that analytical approach is also what makes the book a fascinating read. Its subtitle says it all Mind, Body, and the Curiously Elastic Limits of Human Performance.

Hutchinson, a writer for Runners World, Outside Magazine, The New Yorker and the New York Times, and other periodicals, takes readers on a journey around the globe to get the latest and best science research looking to answer the questions of what sets the limits of human endurance, assuming limits exist.

He was a two-time finalist in the Canadian 1500 meters Olympic Trials. That background is helpful, no doubt, but he also delves into the endurance worlds of cycling, deep diving, mountaineering, expeditions and much more.

The book begins with Hutchinson watching the first attempt to host a sub-two-hour marathon. He breaks away for the rest of the book and returns to the race for the final 1.5 laps.He moves on to talk about Roger Banisters sub 4-minute mile. He takes us to almost every continent to look at the latest in research. There are also mountain climbers and ultrarunners, cyclists and many more who do truly give it their all, literally.

The search is to understand how real perceived limitations are on the human body . Why do those limits get pushed back. The thread through the book is the tension between three ideas: (1) The body as a machine; (2) The (subconscious) central governor; and (3) The conscious quitter.

The body as a machine is perhaps the oldest way of looking at endurance.Muscles fatigue and the runner stops or gets cramps.The physical characteristics of body plus how much pain the mind can stand set the limits. A marathoners limit could be determined by their aerobic capacity (VO2max), running economy (efficiency), and lactate threshold.

The second idea is the belief there is a central governor buried somewhere deep in the brain and it constantly monitors the bodys ability to perform without blowing up. It then gives the commands to go, slow down or stop.This is all done at an unconscious level.

Finally, the conscious quitter idea is like the central governor theory except the decision making by the brain is more often on the conscious level. It also differs in that it operates more on a perceived effort basis.

One researcher described endurance as the struggle to continue against a mounting desire to stop. The brain, or some part of it, shouts out commands based primarily on the perceived effort of the runner, shutting everything down when it believes danger is too great.

The warnings from thirst versus dehydration surprised me and clearly suggested I have been wrong to skip the last water table in a race. The author spends a lot of time trying to dispel inaccurate information about hydration. After noting the human body is 50-70 percent water, Hutchinson states that a 150-pound person generally carries around 40 liters of water. Clearly dehydration can kill but it may not mean much in a marathon.

A century ago, Hutchinson writes, the prevailing advice was to avoid drinking during a race at all cost. And the thinking was that water could lead to an upset stomach and could not pass through the intestines and be helpful until after the race was completed.

The advent of Gatorade and other supplements changed this, and the instruction became drink early and often. Dont wait until you are thirsty. Hyponatremia (when the body holds onto too much water), and the death of a runner at the 2002 Boston Marathon led to those instructions being changed.

When Haile Gebrselassie ran his world record marathon in 2007 in a time of 2:04:26, he lost 10% of his body weight. In lab tests he was sweating 3.6 liters of water in an hour, one of the highest amounts ever recorded.His gastric emptying rate (how fast water emptied out of his stomach) was only 1.3 liters per hour.

So rather than obsess with his total dehydration, Gebrselassie, simply focused on drinking what his body could handle and avoid thirst. Many other elite marathoners follow that same pattern.

Hutchinson made one more important observation. Thirst, rather than dehydration, was the key indicator for the need for water. Those famous words drink before you are thirsty may not be accurate for a marathon.

Apparently, thirst measures the concentration of plasma osmolality of the blood (sodium and electrolytes). Gebrselassie can be dehydrated, but as long as he is not thirsty he will be fine. A set of studies supported the key for performance is not whether someone is dehydrated, but whether they are thirsty.

The human body remains a remarkable performer and there is a lot to learn before we find its limits. When you think you have exhausted all your resources, push hard one more time there might be more left than you know.

David Yon is addicted to running. In his spare time, he is an attorney with the Radey Law Firm.

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Trump’s scorched-earth handling of environment extends to oceans too – Las Vegas Sun

Monday, June 29, 2020 | 2 a.m.

President Donald Trumps cruelty to the environment and wildlife clearly is never far from the top of his mind. He proved it again this month when, with the coronavirus pandemic heating up again and Black Lives Matter protests, he took a special trip to Maine.

There, he issued a proclamation allowing commercial fishing to resume in the Northeast Canyons and Seamounts Marine National Monument, a pristine swath of the Atlantic Ocean off Cape Cod.

Trumps timing during National Ocean Month was no doubt chosen for full sadistic effect as he erased protections established under President Barack Obama.

The nearly 5,000-square-mile monument, the only one of its kind in the Atlantic, is home to an amazing array of life endangered whales, 1,000-year-old deep-sea coral beds, a huge number of fish and seabird species, rare marine life found nowhere else in the world, and more.

It was like swimming through Dr. Seuss garden, a research scientist told the Rhode Island-based environmental watchdog news organization ecoRI News. From the very first research trip out to the canyons and later to the seamounts, it was obvious these were special places.

But Trump, in his scorched-earth campaign to erase Obamas legacy and ruin the environment, decided to let management of the fisheries in this special place go back to a regional fishery management council that contains members of the commercial fishing industry.

Trump made it sound as if Obama had stolen the area from fishing interests, but that wasnt the case. Commercial crab and lobster fishers had been allowed to maintain operations there, and recreational fishing was permitted as well. In fact, the government had moved the boundary of the monument to provide access to some of the more fertile fishing areas.

And while the industry lobbied to reopen the area, critics say that closing it off had almost no impact on fishing quotas and productivity of the regional industry.

Environmental organizations immediately filed suit, to their credit. Heres hoping they succeed in regaining protection for the monument.

For Nevadans, the issue may seem far away and not a cause for particular alarm at a time of crisis.

But amid increasingly loud alarms about the disastrous effects of global warming, pollution and overfishing on the oceans, protecting the health and biodiversity of the seas is critical for everyone on the planet. One study last year in the journal Science showed that fish populations declined as much as 35% in some areas between 1930 and 2010, while the global population exploded.

Now seafood supplies in some areas are on the verge of collapsing altogether, which needless to say would have calamitous results on the worldwide food chain. And since fish is the primary source of protein for a significant portion of the world, especially the Third World, a collapse would inevitably lead to massive global unrest. Carefully conserving the oceans, nurturing sea life and ensuring that it survives to continue feeding the world is an utmost national security interest.

Against that backdrop, protections for areas like the monument should be expanded, not removed. Keep in mind that while 5,000 square miles might seem like a big area, it actually makes up just 0.012% of the Atlantic Ocean, which spans more than 41 million square miles.

There are four such monuments in the Pacific, which are all but certain to also be targeted by Trump. In fact, the administration indicated last week that it was looking at feeding two of those areas both established by President George W. Bush to the wolves.

If theres a glimmer of good news in terms of the Atlantic monument, its that Obamas protections already survived a court challenge filed by the fishing industry. The courts ruled that Obama had authority to create the monument.

Now, attorneys for the environmentalists who are opposing Trumps reversal argue that the Antiquities Act, under which presidents are authorized to protect monuments, gives Congress only the power to undo or alter those actions.

We can hope for another favorable ruling. But in November, we can take the issue into our own hands by voting this destructive president out of office.

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Ethereum, Chainlink and Tezos price analysis: June 28 – AMBCrypto

With Bitcoin edging below $9,000, you can be sure of an effect on altcoins. Ethereum, the largest altcoin is leading the charge and is moving down deviating out of its long-held patters, and following suit are Tezos and Chainlink.

Ethereum

Since reaching a high of $250, Ethereum managed to hold firm trading within its upward channel but fell out at the beginning of the previous week. On June 22, Ether was trading at $243, but a 10.6 percent fall has resulted in its press time price being less than $220.

The altcoin will be undoubtedly tested between upward resistance at $249 and the lower support at $217. A move out of the channel could threaten a bearish fall below the aforementioned support level. Bollinger Bands of the altcoin suggest a decrease in volatility in the short-term following a massive increase mid-week.

Over the past week, Ether has lost over 12 percent of its value, which investors think is due to PlusToken one of the largest cryptocurrency Ponzi schemes. On June 24, Whale Alert recorded the movement of almost 800,000 ETH from the PlusToken wallet to an unknown wallet.

Chainlink

After rebounding off its 2020 ATH, Chainlink has shaved 8 percent of its price but it is still trading within its upward channel. Since reaching the high of $4.79, the 13th largest cryptocurrency in the market has seen a big red candlestick on June 27.

The closest support of $3.91 is still far away from the trading price of $4.4. MACD for the altcoin suggests continued bullish movement as MACD line is over the Signal line and the two are trending above 0.

Last week, Chainlink confirmed its partnership with Chinas national Blockchain Services Network [BSN] with the objective to enable governments and enterprises to incorporate validated real-world data.

Tezos

Tezos, one spot above Chainlink on the coin rankings, has gone the way of Ethereum. XTZ has also moved out of its upward channel after a strong fight for the better part of two months.

Since reaching a high of $3.02 at the start of the month, the price has shaved 21.5 percent and is now trading at $2.38. Despite repeated attempts, the altcoin could not overcome resistance at $2.94. Relative Strength Index of the altcoin has dropped from 62.12 at the beginning of the month, to 36.6 now, but has shown an improvement in the past few days.

Tezos was given a boost last week as it was included among five other cryptos offered by Phemex, a recently formed cryptocurrency derivatives exchange by former Morgan Stanley executives. The other assets included are Bitcoin, Ethereum, ChainLink, Tezos and gold.

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