Welcome to another edition of our Master Blockchain series, where we delve into the latest developments in the world of cryptocurrencies, blockchain, and emerging technologies. In this post, we’ll cover the recent price movements in Dogecoin and analyze the potential obstacles and opportunities ahead. Additionally, we’ll discuss the ongoing trial of Sam Bankman-Fried, founder of FTX, and the formation of a UN advisory committee focused on global regulation of artificial intelligence.

Dogecoin Price Analysis:
Dogecoin, the beloved meme-based cryptocurrency, has experienced a notable 19% price increase this week. However, it now faces resistance at the golden ratio level of approximately $0.072. A bullish breakout above this level could potentially push the price towards $0.086. While the monthly MACD histogram shows bullish momentum, the MACD lines remain in a bearish configuration. Furthermore, the daily chart exhibits mixed signals, with several bullish indicators offset by EMAs in a death cross pattern, suggesting a bearish trend in the short to medium term. It’s important for traders to closely monitor these technical indicators for potential trading opportunities.

FTX Founder’s Trial:
Sam Bankman-Fried, the founder of FTX, recently took the stand in his criminal trial, blaming the collapse of the crypto exchange on FTX’s attorneys. However, during cross-examination, Bankman-Fried appeared uncertain and evasive, struggling to answer questions effectively. He also claimed that his lawyers were responsible for certain documents and policies central to the prosecution’s case against him. The judge allowed Bankman-Fried to testify without the jury present to review his comments first. As the trial enters its final stages in the coming week, the outcome and potential implications for FTX will be closely watched.

UN Advisory Committee on AI Regulation:
Highlighting the immense potential of artificial intelligence (AI) while raising concerns about its malicious use, United Nations Secretary-General António Guterres has formed a 39-member advisory committee focused on global AI regulation. The committee consists of representatives from tech companies, government officials, and scholars from around the world. The United Nations aims to release initial suggestions on AI regulation by the end of this year, with comprehensive recommendations set to follow by 2024. The committee’s first meeting is scheduled for October 27, marking a significant step towards addressing the ethical, legal, and societal implications of AI.

As the crypto market’s ups and downs continue to captivate attention, Dogecoin’s current resistance at the golden ratio level poses a significant test for its future price trajectory. Meanwhile, the trial of FTX founder Sam Bankman-Fried proceeds with uncertain outcomes. On a global scale, the United Nations is taking proactive steps toward regulating artificial intelligence, recognizing both its potential benefits and the need to address associated risks. Stay tuned for more updates on these and other blockchain-related news as we explore the fascinating world of digital innovation.