Bitcoin[BTC] struggles in the red zone as Oil Conglomerate from Japan invests in blockchain technology

By July 11, 2019Bitcoin Business
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Bitcoin had a plunge of 12.30% in the course of the past 24-hours. The price of BTC is $11,351.49. The king coin scaled beyond $13,100 before resistance was felt near $13,200.

This made the sellers rush forward, as the bulls gave up. The market is bleeding, and most of the altcoins are losing their value.

A U.S.-based blockchain startup and the Sumitomo Corporation Group have struck a deal for energy tracking.

This is what the official release states, “The system promises to democratize the energy industry, allowing people to both consume and produce electricity at their home and business.” Braemar Energy Ventures, Centrica, and Siemens have all chosen LO3.

LO3 Energy CEO Lawrence Orsini said, “The investment from Shell and Sumitomo represents a landmark moment for LO3 Energy…These investments will help us accelerate the roll-out of less carbon intensive microgrids, which help all stakeholders benefit through distributed, decentralized and decarbonized local energy transactions and demand response energy management on a building-by-building level.”

Sumitomo is ranked as part of the Fortune Global 500 group. “We will work together and support LO3 Energy’s further growth, which can realize a clean, environmentally sound community,” stated Mr. Norihiko Nonaka, Executive Officer of Sumitomo Corporation.

Japan has been welcoming towards blockchain technology, and the lawmakers have adopted a pro-bitcoin approach. This has led to TRON increasing its market presence in the world’s most technologically advanced country.

Here is a method that will help you figure out the best performers in the market:

One way that I like to compare how alts have performed & held there ground vs BTC during turbulent market days

1. Go to @nomicsfinance site

2. Change Quote Currency to $BTC

3. Look at “Change” %

4. Compare which alts are in green to those in red

— Josh Rager (@Josh_Rager) July 11, 2019

Many still believe that a majority (more than 80%) of the altcoins are not worthy of investments.

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