Day: May 13, 2020

Market Wrap: Some Miners Face an Uncertain Future Despite Rising Bitcoin Price

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Despite a post-halving rise in bitcoin’s price Wednesday, the current value may not be enough to keep less-efficient miners operating, and that could shift market dynamics.  At press time, bitcoin (BTC) was trading up 2.3% over 24 hours at $9,106. The world’s first cryptocurrency is trading above its 10-day and 50-day moving averages, which is a bullish technical indicator, and has been on a steady uptrend since early trading May 13, 00:00 UTC. Bitcoin trading on Coinbase since May 11Source: TradingView The long-anticipated halving was, “a little uneventful,” said Jack…

Interpol Teams Up With Kaspersky to Declare ‘Anti-Ransomware Day’

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International crime-fighting organization, Interpol, joined forces with cybersecurity firm, Kaspersky, to launch a campaign called “Anti-Ransomware Day”. The date is set on the third anniversary of the most significant ransomware attack on record, WannaCry. According to the announcement, the May 12 holiday will raise awareness about the effects of ransom-centric cyberattacks which continue to affect people and businesses all over the world. A study revealed by Kaspersky reported that until October 2019, WannaCry held the title of the most significant ransomware attack ever executed. Companies affected by WannaCry attacks suffered…

‘History Has Repeated’: F2Pool Explains Message in Last Block Before Bitcoin Halving

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Ushering in bitcoin’s third “halving,” by far the most highly awaited cryptocurrency event of the year, mining pool F2Pool rooted a mysterious message into the blockchain that will now reside there forever. Preceded by a fish emoji signifying the company’s logo, the mining pool added the text to a headline from The New York Times: “NYTimes 09/Apr/2020 With $2.3T Injection, Fed’s Plan Far Exceeds 2008 Rescue.” To bitcoin OGs, the significance is clear. It’s a reference to a similar newspaper heading that bitcoin creator Satoshi Nakamoto embedded into the first-ever…

CEO at Real Vision Raoul Pal Bets on Bitcoin Up 100x in Next Five Years

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Raoul Pal, CEO & Founder at Real Vision, applies the economic cycle theory to predict a major disruption of the global financial system. He believes this will drive Bitcoin to new highs. Despite the recent rally in the stock market, Pal sees dropping bond yields and falling commodity prices as signs the world economy is heading towards a grave recession. He states: “I think that the stock market is trading hope and the bond markets trading reality and the bond market will show us where the stock market will go.”…

Binance Freezes Funds Stolen From Upbit in Late 2019

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An address associated with the $50 million hack of South Korean crypto exchange, Upbit, has moved some of the stolen Ethereum (ETH) to Binance. The world’s biggest exchange immediately froze these funds on its platform, and has initiated an investigation. On May 13, Whale Alert tweeted that a 137 ETH ($27,164) transaction was moving funds derived from hacked Upbit exchange to Binance. According to the transaction details, the transfer occurred at 12 p.m. EST. Less than one hour after the transaction was flagged, Binance CEO Changpeng Zhao, or CZ, stepped…

BTC and Oil to $0?! Bitcoin and Ethereum Price Prediction, Price Analysis, Targets & News (BTC, ETH)

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▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Website! Twitter! Facebook Group! __________________________________________________________________________ Here I look at a couple near term targets for BTC and ETH using Elliot wave as my primary TA in confluence with other technical indicators. If you guys like my content, share some love and SMASH the likes, RING the bell to SUBSCRIBE! See you in the discord! As always this is not financial advise but my just my thoughts on the market. __________________________________________________________________________ 🤩BYBIT REFERRAL! 🤩COINBASE REFERRAL! 🤩TRADING VIEW REFERRAL! __________________________________________________________________________ bitcoin, cryptocurrency, crypto, altcoin,…

IOV Labs Ushers in Bitcoin-Based Mobile DeFi

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IOV Labs, a startup that constructs financial solutions based on Bitcoin’s blockchain, has introduced another layer of scaling.  “IOV Labs announced the launch of its Light Client for the Lumino Payments Network, a third-layer Bitcoin scaling solution,” said a statement provided to Cointelegraph, which added: Lumino Payments Network enables off-chain payment capabilities for any current or future ERC20-compliant token deployed on the RSK and RIF blockchain networks.” Bitcoin-based decentralized finance Ethereum made a name for itself as a smart contract-enabled network primed for project building. Thanks to a sidechain solution…

Why Bitcoin Breaking Past $9,000 Is Just the Start of a Booming Bull Trend

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Since falling as low as $8,180 on Monday, the day of the halving, Bitcoin has mounted a strong comeback. The comeback culminated in a surge past the key $9,000 resistance on Wednesday, seen on the right-hand side of the chart below. Bitcoin’s price action from May 8 to today charted by TradingView.com. While the move above $9,000 brings BTC above a key technical level, it wasn’t met with much resistance in terms of liquidations. The reason: as Bitcoin traded at ~$8,800-8,900 for hours on end before passing $9,000, short positions…

Bitcoin Cannot Be Protected By Chinese Law, Local Court Rules

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As a virtual commodity, Bitcoin (BTC) cannot be protected by the Chinese law, a court in Fujian province reportedly ruled on May 13. Fujian court dismisses a Bitcoin-related lawsuit According to Fujian Rule of Law News, the court was considering a dispute involving an investment to a “Bitcoin-themed club”. The plaintiff, named Liao, allegedly invested 500,000 yuan ($70,500) in this club. His expectation was that high returns would follow. After failing to receive any of his funds back, Liao sued the operator of said Bitcoin club. The Changting People’s Court…

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