Day: July 19, 2019

Bitcoin Price Jumps $1,000 in Sudden Spike Beyond $10,000; What’s Next?

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On July 18, the bitcoin price experienced an abrupt surge from around $9,300 to $10,500 as the crypto market rebounded, rising by well over $1,000 within minutes, as CCN reported. Following the sudden upside movement, technical analysts still generally remain cautiously bearish towards the short term trend of the dominant crypto asset due to its inability to cleanly break out of a key resistance level at $10,850. Is a move down for bitcoin likely? As said by technical analyst Eric Thies, throughout the run up towards the 2017 bull market,…

I’m Not Satoshi — I Don’t Have That Much Money, Says Sci-Fi Author

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Popular speculative fiction author Neal Stephenson says suggestions he could be Satoshi Nakamoto are “flattering” but unfounded.  Cryptonomicon or bust Stephenson made his remarks during an interview on the Conversations with Tyler podcast on July 17 in response to a half-jocular suggestion first proposed in Reason magazine article this spring.  The novelist told Tyler Cameron that when he had read the article, he understood that the journalist was “largely just goofing,” — yet added: “I hope nobody takes it seriously.” He explained:  “It’s flattering that anyone imagines I’ve got the…

Bitcoin Price (BTC) Rallies 10%, Dips Remain Attractive To Buyers

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Bitcoin price started a strong recovery and broke the key $10,000 resistance area against the US Dollar. The price surged more than 10% and broke the $10,500 resistance to test $10,800. There was a break above a major bearish trend line with resistance near $9,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price traded as high as $10,807 and it is currently consolidating gains. Bitcoin price surged more than 10% above $10,500 against the US Dollar. BTC is currently consolidating gains and dips are…

Zimbabwe: People Are Still Buying Bitcoin to Shelter from Reckless Monetary Policy

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According to a video published by VoaZimbabwe on July 18, 2019, Zimbabwe citizens are using bitcoin as a decentralized store of value to shelter from the reckless monetary policy adopted by the government. Zimbabwe’s Monetary Policy Following the controversial decision of banning local trading in foreign currencies, including the US dollar, with immediate effect starting from June 2019, Zimbabwe residents are facing monetary uncertainty as the decision also reintroduced the Zimbabwe dollar, which was abandoned because of hyperinflation in 2009 when the country mainly adopted the US dollar and the…

Crypto Market and Bitcoin Could Continue Higher: BCH, EOS, TRX, ADA Analysis

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The total crypto market cap started a decent recovery and broke the key $260.0B resistance. Bitcoin price rallied around 10% and broke the $10,000 and $10,500 resistance levels. EOS price recovered steadily and even broke the $4.00 resistance area. BCH price is up more than 5% and it recently cleared the $300 resistance. Tron (TRX) price gained around 8% and surpassed the $0.0250 resistance level. Cardano (ADA) price is still struggling below the $0.0600 level. Bitcoin price jumped more than $1,000 and the crypto market cap is up more than…

Ripple Price (XRP) Could Climb Higher, Bitcoin Breaks $10,500

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Ripple price recovered steadily after trading below the $0.2900 support level against the US dollar. The price climbed higher and broke the key $0.3000 and $0.3200 resistance levels. It seems like an ascending channel is forming with support at $0.3150 on the hourly chart of the XRP/USD pair (data source from Kraken). The price is likely to break the $0.3280 resistance and trade above the $0.3320 level in the near term. Ripple price is showing a lot of positive signs above $0.3200 against the US Dollar since bitcoin rallied 10%.…

Ethereum Price (ETH) Breaks $220 While Bitcoin Rallied 10%

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ETH price started an upside correction and traded above the $210 resistance against the US Dollar. The price gained traction above the $220 level and even traded close to the $230 level. This week’s followed key bearish trend line is acting as resistance near $230 on the hourly chart of ETH/USD (data feed via Kraken). The pair is currently consolidating below the $230 resistance, with support near $212. Ethereum price is trading with a positive bias above $210 versus the US Dollar, whereas bitcoin jumped 10%. ETH price could dip…

1 AM UTC Is the Most Volatile Hour for Bitcoin: Research

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Researchers at crypto analytics firm LongHash have found 1 AM UTC to be the hour of greatest volatility for Bitcoin (BTC) over the past two years. 1 AM UTC had more daily highs and lows than any other hour of the day over a period from 2017 to 2019, according to research released by LongHash on July 17. LongHash’s research is based on crypto price archives from major American crypto exchange and wallet service Coinbase. The Hong Kong-based firm collected data from Crypto Data Download about Coinbase prices over the…

Israeli Citizen Accused of Stealing Over $1.7 Million in Crypto

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Eliyahu Gigi, a 31-year-old from Tel Aviv, has been charged with stealing over $1.7 billion in a variety of cryptocurrencies. Gigi allegedly stole BTC, Ethereum, and Dash from users in the Netherlands, Belgium, and Germany.  Lawyer Yeela Harel of the cyber department in the State Attorney’s Office filed charges against Gigi on July 17, according to a report published the same day by Globes. Gigi has reportedly been charged with crimes including theft, fraud, and money laundering, among others. According to the report, Harel’s indictment claims that Gigi set up…

Bitcoin-Seeking Ransomware ‘Ryuk’ Virus Found and Studied in China

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Tencent Yujian Threat Intelligence Center says that a Ryuk ransomware virus has been spotted in China. The intelligence center released information on the outbreak in a report on July 16. According to the report, Ryuk viruses are a family of malware aimed at infecting government and enterprise machines holding valuable data. According to the report, a Ryuk virus derives from the Hermes virus, with code that is directly modified off of the latter. As noted in the report, Ryuk is the name of a death spirit in the popular manga…