Market review, September 11, 2019

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2019-09-11 15:02:12

According to Global Market Insights, investments in the blockchain technology in the healthcare market will exceed $1.6 billion by 2025.

Researchers say that investments in the blockchain technology in the healthcare sector will grow due to several factors; for example, the implementation of government initiatives. The study of medical results and the interoperability of health data, as well as cost reduction, will further influence the application of the blockchain.

“The growing awareness of blockchain implementation and government data standardization initiatives will spur industry growth in the coming years,” the report said.

As for the segment of pharmaceutical blockchain-based insurance companies in the healthcare market, researchers believe that by 2025, it can show a total annual growth of 65.7%. This market segment is expected to grow due to the widespread adoption of blockchain technology and the need to improve emergency care and clinical outcomes.

Let us recall that in July, analysts at Acumen Research and Consulting (ARC) concluded that the amount of funding for the blockchain technology in the healthcare sector would exceed $1.7 billion by 2026.

Last month, the US Food and Drug Administration (FDA) announced its plans to introduce blockchain technology to improve the process of analyzing and recalling medicines, and in June, it became known that the FDA, IBM, and Merck will introduce blockchain in the drug supply chain.

Technical analysis of Bitcoin (BTC):

Over the past day, bitcoin dropped in price, breaking through the support level of $10,000, reaching the mark of $9,850. This movement fully coincided with our yesterday's forecast. Now, the price of bitcoin is $10,050. But the positive movement is still likely. The nearest resistance levels are $10,200, $10,400, $10,650. The nearest support levels are $9,700, $9,500.

Technical analysis of Ethereum (ETH):

Over the past day, the price of ethereum slipped to the support level of $173. This movement of ether completely coincided with our yesterday's forecast. Now, the price of ethereum is $177. We assume that the price of ethereum can go even lower. The nearest resistance levels are $181, $185. The nearest support levels are $173, $172, $169, $165.

Technical analysis of Ripple (XRP):

Over the past day, ripple fell in price and reached the support level of $0.25. Now, the price of ripple is $0.2505. If it breaks through the support level of $0.25, the price will go even lower. The nearest resistance levels are $0.2520, $0.2560. The nearest support levels are $0.25, $0.2480.

Disclaimer. This review is only for information purposes and cannot be considered as a proposal or an indication to perform certain transactions in the financial and commodity markets. The estimates and recommendations in the review are the personal opinion of the company's analysts. The company's view on the prospects for individual financial instruments is valid as of the date of the report. The Company does not assume any liability and liabilities for compensation for damage that may result from the use of this report.
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