Tommie Experts: Ethically Educating on Artificial Intelligence at St. Thomas – University of St. Thomas Newsroom

Tommie Experts taps into the knowledge of St. Thomas faculty and staff to help us better understand topical events, trends and the world in general.

Last month, School of Engineering Dean Don Weinkauf appointed Manjeet Rege, PhD, as the director for the Center for Applied Artificial Intelligence.

Rege is a faculty member, author, mentor, AI expert, thought leader and a frequent public speaker on big data, machine learning and AI technologies. The Newsroom caught up with him to ask about the centers launch in response to a growing need to educate ethically around AI.

Were partnering with industry in a number of ways. One way is in our data science curriculum. There are electives; some students take a regular course, while others take a data science capstone project. Its optional. Students who opt for that through partnership with the industry, companies in the Twin Cities interested in embarking on an AI journey can have several business use cases that they want to try AI out with. In an enterprise, you typically have to seek funding, convince a lot of people; in this case, well find a student, or a team, who will be working on that industry-sponsored project. Its a win-win for all. The project will be supervised by faculty. The company gets access to emerging AI talent, gets to try out their business use case and the students end up getting an opportunity working on a real-world project.

Secondly, a number of companies are looking to hire talent in machine learning and AI. This is a good way for companies to access good talent. We can build relationships, sending students for internships, or even students who work on these capstone projects become important in terms of hiring.

There are also a number of professional development offerings well come out with. We offer a mini masters program in big data and AI. The local companies can come and attend an executive seminar for a week on different aspects of AI. Well be offering two- or three-day workshops on hands-on AI, for someone within a company who would like to become an AI practitioner. If they are interested in getting in-depth knowledge, they can go through our curriculum.

We also have a speaker series in partnership with SAS.

In May well be hosting a data science day, a keynote speaker, and a panel of judges to review projects the data science students are working on (six of which are part of the SAS Global Student Symposium). Theyll get to showcase the work theyve done. That panel of judges will be from local companies.

Everybody is now becoming aware that AI is ubiquitous, around us and here. The ship has already left the dock, so to speak, in terms of AI being around us. The best way to succeed at the enterprise level is to embrace this and make it a business enabler. Its important for enterprises to transform themselves into an AI-first company. Think about Google. It first defined itself as a search company. Then a mobile company. Now, its an AI-first company. That is what keeps you ahead, always.

Being aware of the problems that may arise is so important. For us to address AI biases, we have to understand how AI works. Through these multiple offerings were hoping we can create knowledge about AI. Once we have that we can address the issue of AI bias.

For example, Microsoft did an experiment where it had AI go out on the web, read the literature and learn a lot of analogies. When you went in and asked that AI questions based on, say, what man is to a woman, father is to what? Mother. Perfect. What man is to computer programmer as woman is to what? Homemaker. Thats unfortunate. AI is learning the stereotypes that exist in the literature it was learned on.

There have been hiring tools that have gender bias. Facial recognition tools that work better for lighter skin colors than darker skin colors. Bank loan programs with biases for certain demographics. There is a lot of effort in the AI community to minimize these. Humans have bias, but when a computer does it you expect perfection. An AI system learning is like a child learning; when that AI system learned about different things from the web and different relationships between man and woman, because these stereotypes existed already in the data, the computer just learned from it. Ultimately an AI system is for a human; whenever it gives you certain output, we need to be aware and go back and nudge it in the right direction.

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Tommie Experts: Ethically Educating on Artificial Intelligence at St. Thomas - University of St. Thomas Newsroom

Artificial intelligence predictions for 2020: 16 experts have their say – Verdict

2019 has seen artificial intelligence and machine learning take centre stage for many industries, with companies increasingly looking to harness the benefits of the technology for a wide range of use cases. With its advances, ethical implications and impact on humans likely to dominate conversations in the technology sector for years to come, how will AI continue to develop over the next 12 months?

Weve asked experts from a range of organisations within the AI sphere to give their predictions for 2020.

In both the private and public sectors, organisations are recognising the need to develop strategies to mitigate bias in AI. With issues such as amplified prejudices in predictive crime mapping, organisations must build in checks in both AI technology itself and their people processes. One of the most effective ways to do this is to ensure data samples are robust enough to minimise subjectivity and yield trustworthy insights. Data collection cannot be too selective and should be reflective of reality, not historical biases.

In addition, teams responsible for identifying business cases and creating and deploying machine learning models should represent a rich blend of backgrounds, views, and characteristics. Organisations should also test machines for biases, train AI models to identify bias, and consider appointing an HR or ethics specialist to collaborate with data scientists, thereby ensuring cultural values are being reflected in AI projects.

Zachary Jarvinen, Head of Technology Strategy, AI and Analytics, OpenText

A big trend for social media this year has been the rise of deepfakes and were only likely to see this increase in the year ahead. These are manipulated videos that are made to look real, but are actually inaccurate representations powered by sophisticated AI. This technology has implications for past political Facebook posts. I believe we will start to see threat actors use deepfakes as a tactic for corporate cyberattacks, in a similar way to how phishing attacks operate.

Cyber crooks will see this as a money-making opportunity, as they can cause serious harm on unsuspecting employees. This means it will be vital for organisations to keep validation technology up-to-date. The same tools that people use to create deepfakes will be the ones used to detect them, so we may see an arms race for who can use the technology first.

Jesper Frederiksen, VP and GM EMEA, Okta

When considering high-volume, fast turnaround hiring efforts, its often impossible to keep every candidate in the loop. Enter highly sophisticated artificial intelligence tools, such as chatbots. More companies are now using AI programs to inform candidates quickly and efficiently on where they stand in the process, help them navigate career sites, schedule interviews and give advice. This is significantly transforming the candidate experience, enhancing engagement and elevating overall satisfaction.

Chatbots are also increasingly becoming a tool for employees who wish to apply for new roles within their organisation. Instead of trying to work up the nerve to ask HR or their boss about new opportunities, employees can interact with a chatbot that can offer details about open jobs, give skills assessments and offer career guidance.

Whats more, some companies are offering day in the life virtual simulations that allow candidates to see what a role would entail, which can either enhance interest or help candidates self-select out of the process. It also helps employers understand if the candidate would be a good fit, based on their behavior during the simulation. In Korn Ferrys global survey of HR professionals, 78 percent say that in the coming year, it will be vital to provide candidates with these day in the life type experiences.

Byrne Mulrooney, Chief Executive Officer, Korn Ferry RPO, Professional Search and Korn Ferry Digital

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Despite fears that it will replace human employees, in 2020 AI and machine learning will increasingly be used to aid and augment them. For instance, customer service workers need to be certain they are giving customers the right advice. AI can analyse complex customer queries with high numbers of variables, then present solutions to the employee speeding up the process and increasing employee confidence.

Lufthansa for one is already using this method, and with a faster, more accurate and ultimately more satisfying customer experience acting as a significant differentiator more will follow. Over the next three years this trend will keep accelerating, as businesses from banks to manufacturers use AI to support their employees decisions and outperform the competition.

Felix Gerdes, Director of Digital Innovation Services at Insight UK

In 2020 were going to see increased public demand for the demystification and democratisation of AI. There is a growing level of interest and people are quite rightly not happy to sit back and accept that a robot or programme makes the decisions it does because it does or that its simply too complicated. They want to understand how varying AI works in principle, they want to have more of a role in determining how AI should engage in their lives so that they dont feel powerless in the face of this new technology.

Companies need to be ready for this shift, and to welcome it. Increasing public understanding of AI, and actively seeking to hear peoples hopes and concerns is the only way forward to ensure that the role of AI is both seen as a force for good for everyone in our society and as a result able to realise the opportunity ahead historically not something that tech industry as a whole have been good at, we need to change.

Teg Dosanjh, Director of Connected Living for Samsung UK and Ireland

As the next decade of the transforming transportation industry unfolds, investment in autonomous vehicle development will continue to grow dramatically, especially in the datacenter and AI infrastructure for training and validation. Well see a significant ramp in autonomous driving pilot programs as part of this continued investment. Some of these will include removal of the on-board safety driver. Autonomous driving technology will be applied to a wider array of industries, such as trucking and delivery, moving goods instead of people.

Production vehicles will start to incorporate the hardware necessary for self-driving, such as centralized onboard AI compute and advanced sensor suites. These new features will help power Level 2+ AI assisted driving and lay the foundation for higher levels of autonomy. Regulatory agencies will also begin to leverage new technologies to evaluate autonomous driving capability, in particular, hardware-in-the-loop simulation for accurate and scalable validation. The progress in AV development underway now and for the next few years will be instrumental to the coming era of safer, more efficient transportation.

Danny Shapiro, Senior Director of Automotive, NVIDIA

As AI tools become easier to use, AI use cases proliferate, and AI projects are deployed, cross-functional teams are being pulled into AI projects. Data literacy will be required from employees outside traditional data teamsin fact, Gartner expects that 80% of organisations will start to roll out internal data literacy initiatives to upskill their workforce by 2020.

But training is an ongoing endeavor, and to succeed in implementing AI and ML, companies need to take a more holistic approach toward retraining their entire workforces. This may be the most difficult, but most rewarding, process for many organisations to undertake. The opportunity for teams to plug into a broader community on a regular basis to see a wide cross-section of successful AI implementations and solutions is also critical.

Retraining also means rethinking diversity. Reinforcing and expanding on how important diversity is to detecting fairness and bias issues, diversity becomes even more critical for organisations looking to successfully implement truly useful AI models and related technologies. As we expect most AI projects to augment human tasks, incorporating the human element in a broad, inclusive manner becomes a key factor for widespread acceptance and success.

Roger Magoulas, VP of Radar at OReilly

The hottest trend in the industry right now is in Natural Language Processing (NLP). Over the past year, a new method called BERT (Bidirectional Encoder Representations from Transformers) has been developed for designing neural networks that work with text. Now, we suddenly have models that will understand the semantic meaning of whats in text, going beyond the basics. This creates a lot more opportunity for deep learning to be used more widely.

Almost every organisation has a need to read and understand text and spoken word whether it is dealing with customer enquiries in the contact centre, assessing social media sentiment in the marketing department or even deciphering legal contracts or invoices. Having a model that can learn from examples and build out its vocabulary to include local colloquialisms and turns of phrase is extremely useful to a much wider range of organisations than image processing alone.

Bjrn Brinne, Chief AI Officer at Peltarion

Voice assistants have established themselves as common place in our personal lives. But 2020 will see an increasing amount of businesses turning to them to improve and personalise the customer experience.

This is because, advances in AI-driven technology and natural language processing are enabling voice interactions to be translated into data. This data can be structured so that conversations can be analysed for insights.

Next year, organisations will likely begin to embrace conversational analytics to improve their chatbots and voice applications. This will ultimately result in better data-driven decisions and improved business performance.

Alberto Pan, Chief Technical Officer, Denodo

Organisations are already drowning in data, but the flood gates are about to open even wider. IDC predicts that the worlds data will grow to 175 zettabytes over the next five years. With this explosive growth comes increased complexity, making data harder than ever to manage. For many organisations already struggling, the pressure is on.

Yet the market will adjust. Over the next few years, organisations will exploit machine learning and greater automation to tackle the data deluge.

Machine learning applications are constantly improving when it comes to making predictions and taking actions based on historical trends and patterns. With its number-crunching capabilities, machine learning is the perfect solution for data management. Well soon see it accurately predicting outages and, with time, it will be able to automate the resolution of capacity challenges. It could do this, for example, by automatically purchasing cloud storage or re-allocating volumes when it detects a workload nearing capacity.

At the same time, with recent advances in technology we should also expect to see data becoming more intelligent, self-managing and self-protecting. Well see a new kind of automation where data is hardwired with a type of digital DNA. This data DNA will not only identify the data but will also program it with instructions and policies.

Adding intelligence to data will allow it to understand where it can reside, who can access it, what actions are compliant and even when to delete itself. These processes can then be carried out independently, with data acting like living cells in a human body, carrying out their hardcoded instructions for the good of the business.

However, with IT increasingly able to manage itself, and data management complexities resolved, what is left for the data leaders of the business? Theyll be freed from the low-value, repetitive tasks of data management and will have more time for decision-making and innovation. In this respect AI will become an invaluable tool, flagging issues experts may not have considered and giving them options, unmatched visibility and insight into their operations.

Jasmit Sagoo, Senior Director, Head of Technology UK&I at Veritas Technologies

2020 will be the year research & investment in ethics and bias in AI significantly increases. Today, business insights in enterprises are generated by AI and machine learning algorithms. However, due to these algorithms being built using models and data bases, bias can creep in from those that train the AI. This results in gender or racial bias be it for mortgage applications or forecasting health problems. With increased awareness of bias in data, business leaders will demand to know how AI reaches the recommendations it does to avoid making biased decisions as a business in the future.

Ashvin Kamaraju, CTO for Cloud Protection and Licensing activity atThales

2020 will be the year of health data. Everyone is agreed that smarter use of health data is essential to providing better patient care meaning treatment that is more targeted or is more cost effective. However, navigating through the thicket of consents and rules as well as the ethical considerations has caused a delay to advancement of the use of patient data.

There are now several different directions of travel emerging which all present exciting opportunities for patients, for health providers including the NHS, for Digital Health companies and for pharmaceutical companies.

Marcus Vass, Partner, Osborne Clarke

Artificial intelligence isnt just something debated by techies or sci-fi writers anymore its increasingly creeping into our collective cultural consciousness. But theres a lot of emphasis on the negative. While those big picture questions around ethics cannot and should not be ignored, in the near-term we wont be dealing with the super-AI you see in the movies.

Im excited by the possibilities well see AI open up in the next couple of years and the societal challenges it will inevitably help us to overcome. And its happening already. One of the main applications for AI right now is driving operational efficiencies and that may not sound very exciting, but its actually where the technology can have the biggest impact. If we can use AI to synchronise traffic lights to impact traffic flow and reduce the amount of time cars spend idling, that doesnt just make inner city travel less of a headache for drivers it can have a tangible impact on emissions. Thats just one example. In the next few years, well see AI applied in new, creative ways to solve the biggest problems were facing as a species right now from climate change to mass urbanisation.

Dr Anya Rumyantseva, Data Scientist at Hitachi Vantara

Businesses are investing more in AI each year, as they look to use the technology to personalize customer experiences, reduce human bias and automate tasks. Yet for most organizations AI hasnt yet reached its full potential, as data is locked up in siloed systems and applications.

In 2020, well see organizations unlock their data using APIs, enabling them to uncover greater insights and deliver more business value. If AI is the brain, APIs and integration are the nervous system that help AI really create value in a complex, real-time context.

Ian Fairclough, VP of Services, MuleSoft

2020 is going to be a tipping point, when algorithmic decision making AI will become more mainstream. This brings both opportunities and challenges, particularly around the explainability of AI. We currently have many blackbox models where we dont know how its coming to decisions. Bad guys can leverage this and manipulate these decisions.

Using machine identities, they will be able to infiltrate the data streams that feed into an AI models and manipulate them. If companies are unable to explain and see the decision making behind their AI this could go unquestioned, changing the outcomes. This could have wide reaching impacts in everything from predictive policing to financial forecasting and market decision making.

Kevin Bocek, Vice President, Security Strategy & Threat Intelligence at Venafi

Until now, robotic process automation (RPA) and artificial intelligence (AI) have been perceived as two separate things: RPA being task oriented, without intelligence built in. However, as we move into 2020, AI and machine learning (ML) will become an intrinsic part of RPA infused throughout analytics, process mining and discovery. AI will offer various functions like natural language processing (NLP) and language skills, and RPA platforms will need to be ready to accept those AI skill sets. More broadly, there will be greater adoption of RPA across industries to increase productivity and lower operating costs. Today we have over 1.7 million bots in operation with customers around the world and this number is growing rapidly. Consequently, training in all business functions will need to evolve, so that employees know how to use automation processes and understand how to leverage RPA, to focus on the more creative aspects of their job.

RPA is set to see adoption in all industries very quickly, across all job roles, from developers and business analysts, to programme and project managers, and across all verticals, including IT, BPO, HR, Education, Insurance and Banking. To facilitate continuous learning, companies must give employees the time and resources needed to upskill as job roles evolve, through methods such as micro-learning and just in time training. In the UK, companies are reporting that highly skilled AI professionals, currently, are hard to find and expensive to hire, driving up the cost of adoption and slowing technological advancement. Organisations that make a conscious decision to use automation in a way that enhances employees skills and complements their working style will significantly increase the performance benefit they see from augmentation.

James Dening, Vice President for Europe at Automation Anywhere

Read more: Artificial intelligence to create 133 million jobs globally: Report

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Artificial intelligence predictions for 2020: 16 experts have their say - Verdict

Innovations in Artificial Intelligence-, Cloud-, and IoT-based Security, 2019 Research Report – ResearchAndMarkets.com – Business Wire

DUBLIN--(BUSINESS WIRE)--The "Innovations in Artificial Intelligence-, Cloud-, and IoT-based Security" report has been added to ResearchAndMarkets.com's offering.

This Cyber Security TechVision Opportunity Engine (TOE) provides a snapshot on emerging cyber security solutions powered by artificial intelligence, cloud, and IoT innovations that help companies protect from threats, data breaches, phishing, other advanced and targeted attacks. They also defend against and prevent modern attacks residing within cloud, endpoints, and various network layers.

Cyber Security TechVision Opportunity Engine's mission is to investigate new and emerging developments that aim to protect the network infrastructure and the resources operating in the network. The TOE offers strategic insights that would help identify new business opportunities and enhance technology portfolio decisions by assessing new developments and product launches in: anti-spam, anti-virus, phishing, identity management, disaster recovery, firewalls, virtual private networks, end-point security, content filtering,

Web application security, authentication and access control, intrusion prevention and detection systems, encryption algorithms, cryptographic techniques, and pattern recognition systems for network security.

Highlights of this service include technology roadmapping of network security technologies; IP portfolio analysis; information on funding and investment opportunities; evaluation of commercial opportunities from technology developments; technology assessment; analysis of technology accelerators and challenges and many more.

Key Topics Covered:

Companies Mentioned

For more information about this report visit https://www.researchandmarkets.com/r/n3ivvh

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Innovations in Artificial Intelligence-, Cloud-, and IoT-based Security, 2019 Research Report - ResearchAndMarkets.com - Business Wire

Artificial Intelligence might be a factor behind the Climate Change – Digital Information World

Artificial Intelligence is being accused of fueling inequality and climate change as revealed by a new report.

Recently, a paper was published by the AI Now Institute with a title AI Now 2019 Report and it is highlighting the societal impacts of artificial intelligence and is also putting in front some recommendations for the tech industry and policymakers.

The artificial intelligence is being controlled by the people who already have power and is promoting inequality, and disempowering people who lack power.

According to the claims by AI Now, the artificial intelligence industry is promoting the mistreatment and discrimination of workers as the tech companies are moving more towards facial recognition technologies and ignoring the facts that these energy-running A.I. systems are the reason behind the increase of carbon dioxide in the environment.

According to the co-founder of AI Now Kate Crawford, her organization is concerned about the effects of the recognition technology that is promoting to determine the personality or emotional state of a person via their facial expression and this type of technology is being used by vet job applicants, to track students and to gather data on the emotional states of shoppers inside the stores. So the organization is asking for a ban on this technology before it can be used in furthermore critical decisions like hiring.

In this report AI NOW 2019, the researchers also recommend Senator Bernie Sanders to make a ban on police facial recognition as a part of his presidential campaign to help stop the misuse before its too late.

Another major concern raised via this report is the impact of power-hungry artificial intelligence programs on the environment and AI Now also displayed a report of a group of University of Massachusetts, Amherst which determined that the energy consumed by A.I. training model produced 600,000 pounds of carbon dioxide emissions and due to this reason the only solution provided by the researchers of AI was to put completely end the usages of carbon dioxide emitting technology to stop the increase of climate change.

This report also highlights the issue of Biometric Information Privacy as it can be used to track a person easily so the recommendations also include the enabling of the Biometric Information Privacy act so that legal action can be taken against the collection of biometric information by a person or company without consent.

Another issue raised in this report was the lack of diversity in the tech industry, as the tech industry is slowly squeezing out the involvement of human employees which means the tech works cant speak about the ethical concerns regarding their work to A.I. enabled systems as most of the department decisions are now being down by the A.I. enabled systems which are inaccessible to the workers and the public.

According to the report, three municipalities in the United States have already banned the use of facial recognition from the government and the San Francisco, Oakland, and Somerville, Massachusetts have stalled its use so far.

KENGKAT via Getty Images

Read next: The Emerging Jobs to look out for in 2020 According to LinkedIn

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Artificial Intelligence might be a factor behind the Climate Change - Digital Information World

Bitcoin Hit Its All-Time High in 2017. Here Comes New Competition. – Barron’s

Illustration by Elias Stein

Text size

Two years ago last week, Bitcoin peaked at $19,783, after starting 2017 at about $1,000. Since then, prices have fluctuated wildly, falling 73% in 2018 and rising 85% this yearbut they have not come close to retesting previous highs. Recently, Bitcoin was trading near $7,000.

An investor who bought early in 2017 would still be up more than 500%. But thats not the whole story. Dan Wiener, chairman of Adviser Investments and founder of the Independent Adviser for Vanguard Investors, analyzed Bitcoin price movements since the start of 2017 and found that the average five-day rolling return was 1.5%. But the range of five-day gains and losses was enormous, with a high of 47% and a low of minus 29%. And investors lost money 45% of the time when they held Bitcoin for 10 days, he calculated.

Beyond the price action, the biggest change since 2017 is Bitcoins rising competition. Two years ago, the market was awash in initial coin offerings for currencies expected to challenge Bitcoins dominance. But Bitcoin still accounts for 67% of the market value of cryptocurrencies, according to Coinmarketcap.com. Bitcoins real competition now comes from companies looking to use blockchain technology to create currencies, and governments that want to produce digital coins backed by their treasuries. Will the dominant coin be decentralized like Bitcoin, corporate-backed, or government-controlled?

Facebooks Libra project has run into regulatory issues, but could launch as soon as next year. China has been working on digital currencies since 2014 and has reportedly accelerated efforts this year.

The Census Bureau reports new-home sales data for November. Consensus estimates are for a seasonally adjusted annual rate of 730,000 new homes sold, roughly even with Octobers figure. That estimate would be about an 11% increase from November 2018s 657,000 rate. In October, the average price for a new house was $383,300 while the median price was $316,700.

The Federal Reserve Bank of Chicago releases its National Activity Index for November. Economists forecast a negative 0.1 reading, similar to the October data. The index has had a negative reading every month this year except for June and August, after having three negative reading in 2018. This indicates that the economy, while still growing, is decelerating.

The Census Bureau releases its Durable Goods report for November. New orders for durable manufactured goods are expected to jump 1.6% after a 0.5% rise in October. Excluding transportation, new orders are seen edging up 0.2%. This compares with a 0.5% gain in October, as well.

Trading ends early, at 1 p.m., on the New York Stock Exchange and Nasdaq Composite for Christmas Eve. The bond market closes at 2 p.m.

The Bank of Japan releases minutes from its monetary-policy meeting at the end of October.

The Federal Reserve Bank of Richmond releases its Fifth District Survey of Manufacturing for December. Expectations are for a 3.0 reading, up from Novembers minus 1.

Markets all over the world, including in the U.S., are closed in observance of Christmas Day.

China hosts a trilateral summit with Japan and South Korea in the southern city of Chengdu. The two-day confab convenes on Dec. 24. and concludes on Dec. 25. Chinese Premier Li Keqiang, Japanese Prime Minister Shinzo Abe, and South Korean President Moon Jae-in are scheduled to attend. The denuclearization of North Korea and ongoing trade war between Japan and South Korea will be among the topics for discussion. In August, Japan removed South Korea from its list of trusted trade partners. Seoul followed suit the next month. The root of the disagreement is over Japans compensation of forced Korean laborers during World War II.

Many bourses, including those in Canada, England, and Hong Kong, are closed in observance of Boxing Day.

The Department of Labor reports initial jobless claims for the week ending on Dec. 21. The four-week moving average of claims is 225,500.

Pivotal Software holds a special shareholder meeting in San Francisco to seek approval for a proposed merger with VMware. In August, VMware announced a cash and stock offer for Pivotal Software valued at $2.7 billion.

The U.S. Energy Information Administration releases its Petroleum Status report for the week ending on Dec. 20.

Write to Avi Salzman at avi.salzman@barrons.com

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Bitcoin Hit Its All-Time High in 2017. Here Comes New Competition. - Barron's

Bitcoin Price Diary: Long BTC From $6.5K and Back in Altcoin Positions – Cointelegraph

It has been a profitable week, largely because I caught the big Bitcoin (BTC) move up from the local bottom. I closed a majority of my altcoin trades, some on tight stops and others at a decent profit.

Overall, Im very happy with the results, although as I mentioned last week, I failed to take profit on certain alt trades when I had the chance and ended up with smaller gains or exiting near even. I have recently opened new positions again in FunFair (FUN) and EtherParty (FUEL) while closing the majority of my IOST (IOST) position for a 12% gain.

I was long Bitcoin from $7,100, as discussed in my previous journal. When price moved up, I raised my stop-loss, which eventually hit at $7,060 I was very happy to stop out at a small loss when I saw the price drop to the mid $6,000s. I was eyeing the $6,500 area for another long for days and opened a position when price arrived there, with an average entry of $6,550.

BTC USD daily chart. Source: TradingView

Bitcoin price was showing potential bullish divergences on every time frame below the weekly with oversold conditions on the Relative Strength Index (RSI) on the daily time frame and on shorter timeframes.

There were also potential Swing Failure Patterns (SFP) below the two previous swing lows (blue lines). This is a good indication that liquidity was engineered below these lines likely an area where a number of people had their stop-losses set or had limit orders to go short.

This is also known as a stop hunt. When someone is looking to fill a large number of bids, they need to find those areas where there are likely a lot of sitting orders.

BTC USD daily chart. Source: TradingView

As shown on the daily chart above, I had planned this idea a few weeks back (the top part didn't quite happen). As mentioned before, my plan was always to go long if we got to the bottom line at $6,524. Volume had decreased on each pushdown, which can signal weakness for bears. If the price is going down on diminished volume, it is often a sign of a looming reversal.

BTC USD weekly chart. Source: TradingView

The weekly chart showed the massive descending channel (debatable bull flag) still intact, with a nice bounce off of the bottom. This coincided with a touch of the 70.5 retracement, known as the optimal trade entry (OTE) for institutional traders, and also amounted to price dropping below the famed golden pocket around the 61.8% retracement. For me, all of this was enough confluence to enter a long position.

Most importantly, at the time, the Crypto Fear and Greed index showed extreme fear and sentiment was exceptionally bearish.

Bitcoin price pumped quickly, topping out just above $7,400 on most exchanges. I was able to exit the majority of my position at $7,250 for a gain of 10.6%.

I have raised my stops on the remainder of my position to below the green zone pictured below and I will continue to raise them as a manual trailing stop if the price continues to rise. Ultimately, I believe this is another great long during a downtrend.

BTC USD 4-hour chart. Source: TradingView

FUN BTC daily chart. Source: TradingView

I have once again taken a position in FunFair (FUN) at 0.00000044 (sats), which is a repeat of last weeks profitable trade. The price held the key support line and continues to move within an ascending channel.

These types of setups are among my favorites because I can justify raising my stop-loss with the channel as price goes my way. My stop-losses are set below the blue channel.

FUEL BTC daily chart. Source: TradingView

I stopped out of Etherparty (FUEL) even last week but was looking for another potential entry on a bounce off of the blue support line. That happened and I was able to take a position at 0.00000038 (sats).

This is an exceptionally simple trade. The stop-loss is shown in red at 0.00000034 sats. I will move this up with the price as the support is ascending. My initial target is the black line on the chart at 0.00000063 (sats).

The views and opinions expressed here are solely those of the (@scottmelker) and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

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Bitcoin Price Diary: Long BTC From $6.5K and Back in Altcoin Positions - Cointelegraph

Did Bitcoin Bottom? The Positive Case And The Negative Case. – Forbes

George Washington wearing sunglasses with Bitcoin signs. Cryptocurrency, digital money concept.

After Bitcoin peaked in July, investors began unloading and its been steadily downward ever since. From 14,000 to 6600, thats quite a drop in a short time for such a widely-followed investment vehicle: more than 50% is not for widows and orphans.

A couple of technical indicators suggest that with this weeks price action, things may have changed, emphasis on the may have, for the highly speculative and quite volatile cryptocurrency.

Heres the daily price chart:

Bitcoin daily price chart, 12 20 19.

The main thing is the big fat bullish engulfing candlestick on Wednesday Ive circled it in red. Price dropped below the November low initially and then buyers came in to take out the high price of the previous session. A bullish engulfing candlestick isnt always perfectly predictive, but its obvious that, at least temporarily, buyers have taken the upper hand.

The reason it may mean something this time is the positive divergence apparent on the technical indicators for relative strength and for the relationship of moving averages. You can see how the RSI, above the price chart, comes in with a slightly higher low from the November low price to the lower mid-December low.

You can also see the similar pattern of the moving average convergence divergence indicator below the price chart. The MACD is trending upward again even with this months lower price.

It would be foolish to take any one of these indicators by themselves to be somehow predictive of future price. That all 3 of them the bullish engulfing candlestick, the RSI and the MACD are lined up favorably suggests the possibility of a reversal for the cryptocurrency.

Heres the problem: the other major cryptos that typically follow Bitcoins basic trading pattern are not reflecting the same kind of strength. This type of price action is a non-confirmation, so far anyway.

Heres the Litecoin daily price chart:

Litecoin daily price chart, 12 20 19.

The bounce off the mid-December low has failed to make it back above the November low at just below 45.. The RSI indicator shows lack of strength. These are significant divergences from the Bitcoin price chart.

Its the same problem with the Ethereum chart:

Ethereum daily price chart, 12 20 19.

Unlike Bitcoin, this one failed to make it back above the November low. Like Litecoin, the relative strength indicator suggests weakening.

Its similar to analyzing precious metals charts. When gold rallies a bit and silver fails to rally with it, youre getting a failure to confirm in the price strength of the overall sector. Same thing going on here (in a way) with the popular cryptocurrencies.

It was a good week for Bitcoin and its unconfirmed by the action in Litecoin and Ethereum.

Stats courtesy of FinViz.com.

I do not hold positions in these investments.No recommendations are made one way or the other.If you're an investor, you'd want to look much deeper into each of these situations. You can lose money trading or investing in stocks and other instruments. Always do your own independent research, due diligence and seek professional advice from a licensed investment advisor.

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Did Bitcoin Bottom? The Positive Case And The Negative Case. - Forbes

At 8,990,000% Gains, Bitcoin Dwarfs All Other Investments This Decade – Cointelegraph

Bitcoin (BTC) has beaten gold in terms of returns by such a large amount this decade that investors have firmly dismissed recent price declines.

Data from monitoring resource Blockchain shows that since 2010, Bitcoin has delivered profits of almost 9 million percent.

Put differently, $1 invested in BTC ten years ago was worth around $90,000 as of Dec. 18. By comparison, $1 of gold is now worth $1.34.

Bitcoin average market price 2009-2019. Source: Blockchain

Visibly buoyed by Bitcoins performance, Barry Silbert, CEO of cryptocurrency investment conglomerate Digital Currency Group, deployed the popular Twitter hashtag #dropgold, with his post subsequently receiving over 1,600 retweets.

The statistics underscore Bitcoin as a winning investment for the vast majority of existence. As information portal 99 Bitcoins confirmed on Thursday, since 2009, Bitcoin has only been unprofitable to buy on 434 days at price peaks.

This equates to 89.16% profitability, allowing BTC to put pay to golds record despite the precious metals own recent advances in U.S. dollar terms.

Year-on-year, Bitcoin returns have been similarly impressive. At current price levels around $7,150, Bitcoin investors made 85% profits versus December 2018.

With 2017 as an exception, they remain in the green every year since the beginning.

Bitcoin profits over different time frames. Source: Coin Dance

As Cointelegraph reported, a recent analysis of wallets has shown that Bitcoin hodlers have in fact remained highly disciplined in 2019, despite this year producing a bull-run from lows of $3,100 to almost $14,000.

The phenomenon supports the perception of BTC as an investment tool, suitable for savers with a low time preference who wish to preserve wealth for the long term.

As Saifedean Ammous summarized in his popular book, The Bitcoin Standard, that characteristic will continue to pit Bitcoin directly against easy forms of money, including fiat currency.

Over the New Year period, the U.S. Federal Reserve alone will add an extra $425 billion in fiat value to the economy more than three times Bitcoins market cap that is essentially money created out of thin air.

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At 8,990,000% Gains, Bitcoin Dwarfs All Other Investments This Decade - Cointelegraph

VC: New 10-Year Phase in Crypto to Begin in 2020: What it Means For Bitcoin, Ethereum, Blockchain – newsBTC

Outlier Ventures, a venture capital firm, said that 2020 will be the start to a new phase in crypto, bitcoin, Ethereum, and blockchain following ten years of development and speculation.

The firms head of research Lawrence Lundywhich has invested in major cryptocurrencies like bitcoin, Ethereum, Cosmos, Brave, and Chainlinksaid that the next ten years will be about deployment, if the last decade was primarily about installment.

S-Curve trend of crypto and bitcoin for the past decade and the next ten years (Source: Outlier Ventures)

In an end-of-the-year report entitled 18 Predictions for 2020, Lundy identified key trends in bitcoin, Ethereum, and blockchain that would set the tone for the start of the deployment phase.

For major cryptocurrencies, scalability has always been the biggest issue as the demand for digital assets and blockchain usage increased.

Most blockchain developers generally agree that over the long-term, a second-layer settlement network on top of existing blockchains is crucial for growth.

Beginning 2020, the report suggested that the second-layer usage of bitcoin will see more light. Since its inception in 2009, bitcoin has been recognized as a store-of-value more than a payment settlement network.

With Lightning and other potential layer two solutions, Lundy said that bitcoin will increasingly be seen as an open financial platform.

But the growth of LApps (Lightning Apps) and more broadly data anchoring will be a stronger fundamental signal of the development of a fee market and the long-term viability of Bitcoin, read the report.

It is hardly any surprise but Outlier Ventures expect decentralized finance (DeFi) to continue to be the main narrative around Ethereum in the coming years.

In 2019, DeFi on Ethereum has seen explosive growth. Based on the data from DeFiPulse, the total value locked in DeFi platforms reached $661 million, the overwhelming majority coming from Ethereum.

DeFi on Ethereum grows exponentially throughout 2019 (Source: DefiPulse)

Specifically, Ethereums largest DeFi platform Maker accounts for $329 million of the $661 million, and Ethereum is used as the main collateral for most DeFi applications.

Lundy noted:

With Istanbul now live, we expect EIP-2028 to have a major impact on layer 2 adoption opening up use cases beyond crowdfunding and DeFi. Expect to see games currently using EOS and Tron to migrate over to Ethereum to take advantage of the DeFi lego available.

In the area of blockchain, the report says that central bank-backed digital currencies will see significant progress with the lead of China.

On October 25, Chinese President Xi Jinping formally encouraged the development of blockchain and blockchain-related platforms while distancing from crypto.

Since then, as reported by NewsBTC, major industry executives have said that the reputation of the blockchain industry noticeably improved.

In 2020, we expect this to be how the Chinese Digital Currency Electronic Payment (DCEP) launches with licenses given to select exchanges and dominant platforms as distribution platforms to hundreds of millions of users like Alibaba, Baidu and Tencent, suggested the report.

Following China, France and other nations have signaled interest in developing government-owned digital currencies. There are expectations that South Korea is likely to be next with the hiring of a cryptocurrency specialist by the Bank of Korea.

Featured image from Shutterstock

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VC: New 10-Year Phase in Crypto to Begin in 2020: What it Means For Bitcoin, Ethereum, Blockchain - newsBTC

Crypto Markets Long-Term Trend is Positive: Binance CEO Explain Why – newsBTC

Bitcoin and other crypto assets havent done too hot over the past six months. Since peaking at $14,000 in June, the leading cryptocurrency, BTC, has lost some 50%, tumbling as bulls failed to keep the upward momentum, and as regulatory pressure and sell-side pressure from miners and the PlusToken scam hit the market.

Despite this, one of the most prominent executives in the industry, Changpeng CZ Zhao of Binance, is sure that this industrys long-term momentum remains in the upward direction, boding well for the future of cryptocurrencies and related technologies.

As the year has come to a close, crypto and blockchain research firms have started to post their year-end reports, attempting to figure out the top trends of the year and whats next for this nascent industry.

One such firm, Asias Global Coin Research, just released its Community Predictions for 2020 report, in which it cited countless industry executives.

Changpeng CZ Zhao, the prominent chief executive behind cryptos top firm, Binance, was quoted as saying that he thinks that the long-term trajectory for the Bitcoin and crypto market remains decidedly positive. He elucidated:

Bitcoin is still a small market cap instrument so there will be high volatility in the short term. However, if you look at the fundamental technology, the longer-term view, about a 5-year or 10-year horizon, were very confident that bitcoin and cryptocurrencies are here to stay.

He went on to say that he thinks blockchains impact will do more than the internet, meaning that the industry will grow, thereby meaning that the prices of the asset underlying this industry, be it Bitcoin, Binance Coin or otherwise, will also see growth.

While CZ did not give any crypto price predictions, one of his colleagues has.

Per previous reports from NewsBTC, Gin Chao, the Chief Strategy Officer of Binance, told trade news outlet BlockTV earlier this year that historical trends imply the crypto asset market has a large amount of upside potential.

In fact, he states that if you take previous cycles into account, of which there were at least three, Bitcoin could find itself in the $50,000 to $100,000 range around seven to 15 times higher than the current price of $7,200, respectively in the coming decade.

As to why this will occur, Chao echoed Zhao, looking to the fact that theres likely to be a turning point in the adoption of digital assets. And with investors starting to bifurcate the good digital assets from the bad, with Bitcoin obviously falling into the former category, a move to such a level could be had.

Originally posted here:

Crypto Markets Long-Term Trend is Positive: Binance CEO Explain Why - newsBTC