Month: March 2020

‘CovidLock’ Exploits Coronavirus Fears With Bitcoin Ransomware

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Opportunistic hackers are increasingly seeking to dupe victims using websites or applications purporting to provide information or services pertaining to coronavirus. Cybersecurity threat researchers, DomainTools, have identified that the website coronavirusapp.site facilitates the installation of a new ransomware called “CovidLock.” The website prompts its visitors to install an Android application that purportedly tracks updates regarding the spread of COVID-19, claiming to notify users when an individual infected with coronavirus is in their vicinity using heatmap visuals. CovidLock ransomware launches screen lock attack on unwitting victims Despite appearing to display certification…

Bitcoin Price Crashing Due to Coronavirus Fear but Will BTC Hit $2K?

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The price of Bitcoin (BTC) has seen a destructive week, as the price crashed 52% on one single day this week. One of the most massive crashes witnessed since the existence of Bitcoin. Not only has Bitcoin been hitting hard during the week, but equity markets have also seen their worst week since 2008, and other safe havens gold & silver have seen a selloff. Cash is king, is the idea. However, are we continuing dropdowns, or are we temporarily done? Crypto market daily performance. Source: Coin360 Bitcoin drops to…

Robinhood Outages During Historic Price Action Sparks Heated Community Reaction

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“Robinhood, a pioneer of commission-free investing, gives you more ways to make your money work harder.” At least, that’s what is stated on the website of Robinhood, the popular stock and cryptocurrency trading app. However, the app’s recent outages on March 2 and March 9 have shown that fancy words on landing pages are insufficient to make an application reliable — and now, traders are starting to gang up on Robinhood. The reason for this turn of events is that on March 2, Robinhood traders were left unable to complete…

Coronavirus, Upcoming Bitcoin Halving Spell Doom for BTC Miners

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According to a Bloomberg report published on March 13, 2020, Bitcoin (BTC) miners the world over are facing a serious crunch in terms of their profit amid the ongoing slump in the price of the premier cryptocurrency fuelled by fears over COVID-19. Bitcoin Miners Facing the Heat Amid the recent dramatic plunge in the price of BTC which saw its price crash by more than 40 percent in a matter of few hours, the miners of the premier cryptocurrency have more than enough to worry about. In fact, the decline…

Bitcoin Risks Falling to $2,900 if Market is Heading for Long-Term Lower Low

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Bitcoin logged its wildest week for the first time in seven years, plunging by more than 50 percent after a sell-off sparked by the worsening Coronavirus pandemic. The benchmark cryptocurrency on Friday crashed from $8,187 to $3,858 with a matter of 30 minutes. A rebound ensued and took prices up to $5,995. Traders ignored putting bullish positions beyond $6,000, a psychological resistance, which caused a pullback of more than $500 on Saturday. Failure to break above $6,000 had analysts make serious warnings about bitcoin’s imminent future. Prominent analyst Tone Vays…

Bitcoin Miner Stumbles Upon $8M Stash From 2010, Sells Before Crash

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A former Bitcoin miner hobbyist has stumbled on an old wallet containing 1,000 Bitcoins, in addition to many Bitcoin forks. On March 10, a thread was posted to Bitcointalk by a self-described “newbie” making their first return to crypto after a “long hiatus,” seeking advice on accessing an old Bitcoin stash. Former GPU hobbyist miner discovers wallet on a thumb drive The user “whoamisoon” claimed to have mined some Bitcoin “a long time ago” using a GPU and had recently located the wallet.dat file on a USB storage device. The…

Bitcoin Price Bounces Above $5K as Analyst Forecasts a ‘Squeeze Up’

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Bitcoin (BTC) held onto $5,000 support on March 14 as markets broadly steadied after many saw their worst week in over 30 years. Cryptocurrency market daily overview. Source: Coin360 BTC price crash “did not break the model” Data from Coin360 and Cointelegraph Markets showed BTC/USD circling $5,300 at press time on Saturday. Volatility remained high, with the pair’s 24-hour range close to $1,000. Bitcoin was fresh from daily lows of $4,940, which came hours after trader Tone Vays predicted that the cryptocurrency would dip below $5,000 for a final time. …

Bitcoin & Gold ‘Are Doing the Same Thing’ in Coronavirus Crisis: Pomp

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On March 14, Tyler Winklevoss, the co-founder and CEO of Gemini and prominent early Bitcoin investor, took to Twitter to defend Bitcoin despite the recent market crash. In the tweet, Tyler emphasizes that Bitcoin is still in its infancy, stating:  “If bitcoin isn’t gold 2.0, then what is it? The fact that it’s not acting how you might expect only underscores just how early it is.” Supporting Winklevoss’ assertion, Anthony Pompliano, the co-founder and partner at Morgan Creek Digital, has attributed the recent crypto market meltdown to a broader liquidity…

Bitcoin Fails to Jump $6,000, Top Analyst Warns Further Breakdown

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Bitcoin is in for more jump scares after having fallen by more than 50 percent this week. With the expanse of Novel Coronavirus rippling through financial markets, bitcoin plunged from $10,000 in February to $3,858 as of Friday. On the same day, the cryptocurrency recovered to hit an intraday top at $5,995, almost failing to break above $6,000, a level that historically served it as strong support/resistance. Entering the weekend session, bitcoin is now down by close to 4.5 percent. The cryptocurrency’s plunge appears as traditional markets take a break…

How to Track, Get and Set the Best Transaction Fees with Bitcoin and Bitcoin Cash

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Once set up with a bitcoin or bitcoin cash wallet and some coins, using and sending them is pretty easy. Part of this process involves paying a transaction fee, which is a small amount of coin included in a transaction incentivizing miners to work the tx into a block. Both BTC and BCH transactions have fees, with BCH fees being much lower. This post will detail some ways to find and track the best possible fees, set tx fees in your wallet, and make the most of this aspect of…