China Launches BSN, U.S. Unemployment Tops 22m
Bitcoin price dropped to 6.4k this week prompting many analysts to speculate that we could be heading for another massive dump. The key primary reason could be figure of 5.2m Americans filing for unemployment benefits cumulating in a total 22m unemployment claims filed over a 4-week period. The last time unemployment figure reached this high was during the 1929 depression where a 4-year rout led to 25.9% Americans being out of employment. That's a figure over 4 years! As it stands now, bitcoin has recovered back above 7k USD. 7.7k is also the 21week EMA resistance line. There should be some resistance before a breakout if it happens. Conversely, should we not be able to hang on to the current price, the next support is at 6.4k and if we break that, we should see 5.8k. Switching gear, Robert Kiyosaki of "Rich Dad, Poor Dad" fame, recently began shilling bitcoin, gold and silver as the financial assets to own in anticipation of a huge financial reset. What do you think?
ETH vs BTC on Daily Value Transfer Vol.📊
![](https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9b19500e-a272-48d9-961b-3aac99b165c8_727x372.png)
Daily average transaction values across the Ethereum platform are now equal to those of the Bitcoin (BTC) network!
The Bitcoin network also saw growth in its daily value transfer starting in January, but it has been less utilized since the March crypto bloodbath.
But Bitcoiners have the last laugh with the price of 1 BTC forty times greater than 1 ETH, even though the total supply of Ether is only about five times higher.
China Global BlockChain Adoption
![China Archives - CoinDesk China Archives - CoinDesk](https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F750b1188-be97-4b3d-8709-7ad836dcdaf5_1035x666.jpeg)
China is about to launch its national blockchain platform which is part of the country’s grand strategy to lead the digital transformation of the world economy.
The Blockchain Service Network (BSN) is poised to launch for global use on April 25.
In the October announcement of the BSN's internal testing, the Chinese government envisioned a variety of use cases. These included smart city applications, which use sensors connected to the internet to collect data and glean insights for managing public resources; in particular, the alliance mentioned energy conservation. It also listed identity registration and data storage as opportunities for BSN.
U.S. Citizens To Receive Govt. Payments Through Pre-Paid Debit Card or Mobile Money Platforms 🎁
![PROPOSAL: US To Pay All Citizens $2000 Monthly PROPOSAL: US To Pay All Citizens $2000 Monthly](https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Faa174f51-e6e5-451e-9778-a446d5443cd8_920x516.jpeg)
Under the Emergency Money for the People Act, every US citizen who is 16-years-old or older and makes less than $130,000 annually will receive at least $2,000 per month.
The Emergency Money for the People Act additionally recognizes that not everyone has a bank or a home address to receive a check.
In recognition of those who do not have a bank or home address, the Emergency Money for the People Act will allow individuals to receive payments by pre-paid debit card, or mobile money platforms such as Venmo, Zelle, or PayPal.
Reddit Exploring Tokenized Points System on Ethereum
![Reddit expands on its next Ethereum-based point system ... Reddit expands on its next Ethereum-based point system ...](https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9a70f7e3-0b86-4be9-b761-b3ef09968f67_1092x648.jpeg)
Reddit is one of the most popular social media websites and by introducing an ERC-20 token, it will introduce the
massive users base to the Ethereum ecosystem.
In result, users learn about wallet management, making them more comfortable with public/private keys and recovery phrases.
MARKET PULSE
At the point of writing, the Fear and Greed index is @ 15, market has been in fear stage since March.
![Bitcoin Fear & Greed Index Bitcoin Fear & Greed Index](https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F250a3113-02fd-4299-8cbf-dd8ca50f031d_640x575.png)
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