Day: October 16, 2020

ICO fines British Airways £20m for data breach affecting more than 400,000 customers

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The Information Commissioner’s Office (ICO) has fined British Airways (BA) £20m for failing to protect the personal and financial details of more than 400,000 of its customers. An ICO investigation found the airline was processing a significant amount of personal data without adequate security measures in place. This failure broke data protection law and, subsequently, BA was the subject of a cyber-attack during 2018, which it did not detect for more than two months. ICO investigators found BA ought to have identified weaknesses in its security and resolved them with…

Why Bitcoin price abruptly dropped 3% in 30 minutes on OKEx freeze

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OKEx, one of the world’s biggest cryptocurrency exchanges, announced a temporary suspension of withdrawals on Oct. 16. Upon the news, the price of Bitcoin (BTC) abruptly plunged 3% in 30 minutes across major exchanges. The nervousness in the market comes from the reason behind the withdrawal suspension and the potential implications it carries.  The 15-minute price chart of Bitcoin. Source: TradingView.com OKEx says a private key holder is cooperating with investigators, Bitcoin swiftly drops The OKEx team said one of the private key holders of the exchange is cooperating with…

Charted: Filecoin (FIL) Rally Takes Breather, Key Uptrend Support at $60 Intact

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Filecoin (FIL) started a strong rally above the $60.00 and $65.00 resistance levels. The price is currently correcting lower, but there is a strong support near the $60.00 level. Filecoin price climbed sharply from the $52.00 support and surged over 50% against the US dollar. The price tested the $75.00 resistance and recently started a downside correction. There is a short-term declining channel forming with resistance near $67.00 on the 5 minute chart of the FIL/USDT pair (data source from Binance). The pair could continue to move down, but the…

Bitcoin.com Exchange Announces Public Sale of the Atari Token on October 29, 2020

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Price per Atari Token: $0.25 IEO platform has been enabled for prospective purchasers to pass KYC before public sale NEW YORK/ PARIS – October 16, 2020 – Bitcoin.com Exchange, one of the leading authorities in cryptocurrency exchanges announces the details of the upcoming public sale of the Atari Token (ATRI). Atari is evolving and envisioning a new mission to conquer the crypto space by creating a token to power the videogame industry, enabling access to as many platforms and users as possible via atarichain.com, the Atari wallet and more generally…

TA: Ethereum At Risk of A Sharp Decline If It Breaks $365 Support

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Ethereum faced a strong rejection above $380 against the US Dollar. ETH price is now at a risk of a sharp decline if it breaks the key $365 support in the near term. Ethereum struggled to gain momentum above the $380 and $382 levels. The price declined sharply below the 100 hourly simple moving average, and retested $365. There is a key bearish trend line forming with resistance near $378 on the hourly chart of ETH/USD (data feed via Kraken). The pair could decline heavily if there is a clear…

3 years after the ICO, Filecoin (FIL) rallies 118% upon listing

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On Thursday Filecoin (FIL) began trading across major exchanges over three years after its initial coin offering.  Upon listing, the token traded at wildly different prices across multiple exchanges and while the premium shows there is still an appetite for altcoins, investors interpreting the rallies from FIL and Polkadot (DOT) as the beginning of an altseason may be disappointed.  Hours after trading began, top cryptocurrency exchanges including FTX, Binance, and Gemini announced that they would swiftly list the altcoin. Consequently, the token saw significantly different prices across platforms due to…

TA: Bitcoin is Showing Early Signs of Fresh Increase, But $10.6K Is The Hurdle

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Bitcoin price started a fresh increase from the $11,260 low against the US Dollar. BTC must settle above $11,600 to continue higher towards $11,800 and $12,000. Bitcoin is showing a few positive signs above the $11,450 and $11,500 levels. The price is currently facing hurdles near $11,560, but it is above the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $11,450 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a steady upward…

Almost 1M Ether would have been burnt in past year if fee proposal approved

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The controversial Ethereum Improvement Proposal (EIP) 1559 would have burnt 970,000 Ether (ETH) — with a total value of $360 million — in the last year, if it had been implemented. EIP-1559 seeks to reduce transaction fees by introducing flat fees alongside a burn mechanism, The findings, based on Dune Analytics data and published by the Head of DTC Capital Spencer Noon, have raised questions among some in the wider Ethereum community as to why the proposal has not been implemented already. Twitter user ‘Laur Science’ suggested it should be…

Bitcoin’s Intrinsic Value: Crypto Community Responds to Bank of England Governor

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Bitcoin’s intrinsic value has been heavily discussed in the crypto community this week following a remark by the governor of the Bank of England suggesting that the cryptocurrency may have no intrinsic value. Does Bitcoin Have Intrinsic Value? Bank of England Governor Andrew Bailey talked about bitcoin’s intrinsic value during a question and answer session with members of the public early this week. “I have to be honest, it is hard to see that bitcoin has what we tend to call intrinsic value,” he was quoted by Reuters as saying.…