A researcher at the MIT Digital Currency Initiative discovered that Bitcoin Gold was 51 percent attacked on January 23. Yet, in the last 24 hours, the cryptocurrency has increased by 19 percent in price. In a report published on code repository GitHub, MIT DCI research assistant James Lovejoy said two seperate attacks were carried out on Bitcoin Gold blocks within a span two days. More attacks can happen and still, price of the cryptocurrency is up A 51 percent attack is quite possibly the most serious form of attack against…
Month: January 2020
Bad Actors Rent Hashing Power to Hit Bitcoin Gold With New 51% Attacks
Bitcoin gold, a cryptocurrency that forked from bitcoin in 2017, has again been hit by 51-percent attacks. Occurring Thursday, according to tweets from the bitcoin gold team, two deep blockchain reorganizations (or reorgs) resulted in double spends of 1,900 BTG and 5,267 BTG, respectively. The losses amount to around $87,500 at current prices. “We do not know if they successfully extracted any value from an exchange. Advanced risk control systems in exchanges make it likely one or both attacks failed,” they wrote. “Evidence” suggests the attacks used mining power obtained…
IOTA (MIOTA) Tangle Technology Uses Far Less Energy Than Bitcoin (BTC)
Digiconomist, a platform that claims to be dedicated to exposing the unintended consequences of digital trends from an economic angle, has evaluated the energy consumption of IOTA (MIOTA) and Bitcoin (BTC) and discovered that the latter uses over 10x more energy to carry a 1 BTC transaction as compared to IOTA’s Tangle, according to reports on January 27, 2020. Tangle More Energy Efficient than Bitcoin While Satoshi Nakamoto’s Bitcoin (BTC) blockchain remains one of the most secure distributed ledgers in the crypto-verse, the network’s massive energy consumption has been seriously…
Bitcoin’s Halving Captures Growing Interest – Among Google Searchers
Bitcoin traders are split on whether the cryptocurrency’s once-every-four-years “halving” will jolt prices toward 2017’s all-time-high near $20,000 or multiples of that. What’s clear is interest in the topic is surging on Google, according to a report from the Norwegian cryptocurrency analysis firm Arcane Research. The search engine’s Google Trends feature shows queries on the term “bitcoin halving” have doubled this month from December levels to the highest since the last such event in 2016. According to Arcane Research, the increasing number of Google searches is a sign the halving might…
Bitcoin’s Halving Captures Growing Interest – Among Google Searchers
Bitcoin traders are split on whether the cryptocurrency’s once-every-four-years “halving” will jolt prices toward 2017’s all-time-high near $20,000 or multiples of that. What’s clear is interest in the topic is surging on Google, according to a report from the Norwegian cryptocurrency analysis firm Arcane Research. The search engine’s Google Trends feature shows queries on the term “bitcoin halving” have doubled this month from December levels to the highest since the last such event in 2016. According to Arcane Research, the increasing number of Google searches is a sign the halving might…
A “Serious” Bitcoin Correction to Occur if BTC Drops to This Level: Top Trader
After a five percent increase overnight, the bitcoin price is vulnerable to a major correction. A prominent trader Peter Brandt warned that a fall below a key level may trigger a serious correction. Brandt named the 18 displaced moving average (DMA) as the important level bitcoin has to defend to prevent a large pullback. Currently, as of January 27, the 18 DMA is at $8,540 on BitMEX. What happens if bitcoin drops below $8,540 and resumes correction? If the bitcoin price drops below the 17 DMA at $8,540 and enters…
How Coronavirus Outbreak in China Could Weigh on Crypto Prices
Jason Wu had to cancel a dozen meetings with his crypto clients in China after the coronavirus epidemic broke out this month. “We planned a 10-city tour to talk with potential clients in China,” Wu, the CEO and founder of non-custodial crypto lender DeFiner, said. “Nobody wants to attend any crypto-related conferences or any meetings at all because of the virus, we have to rearrange everything.” Since the first patient was identified on Dec. 8 in Wuhan, the capital of Hubei province in central China, the virus has claimed 80…
Bitcoin Price Indicator That Called 2019 Bull Run Flashes Green Again
Bitcoin (BTC) plans to move higher and further squeeze bears in the short term, several price indicators suggest. As the week begins, a group of measurements — some surprisingly accurate historically — are combining to make traders firmly bullish on BTC. Guppy repeats April 2019 bull signal Leading the positive signs is a useful but somewhat forgotten indicator dubbed the Guppy. This is a collection of exponential moving averages which has flashed green on the daily chart for the first time in around 300 days. The interval is significant —…
$9,500: Bitcoin Bulls Aim Big After Recent Surge Above $8,500
Bitcoin found a strong buying interest above $8,200, resulting in a fresh increase above $8,500. BTC price is currently above $8,600 and the bulls seem to be eyeing a break above $8,800 and $9,000. Bitcoin price is currently rising and showing positive signs above $8,500 against the US Dollar. The bulls seem to be in control above the $8,400 and $8,500 support levels. There was a break above a major bearish trend line with resistance near $8,360 on the hourly chart of the BTC/USD pair (data feed from Kraken). The…
Bitcoin Cash Just Broke $350 and $400 Seems Imminent: Here’s Why
Bitcoin cash price started a strong rally from $300 and it gained more than 15%, whereas BTC is struggling near $8,700. BCH/USD could continue to rise towards $400 in the near term. Bitcoin cash price is up more than 15% and it broke the $350 resistance area against the US Dollar. The price is showing a lot of positive signs above the $330 level and the 100 SMA (4-hours). There was a break above a major declining channel with resistance near $324 on the 4-hours chart of the BCH/USD pair…