Bitpoint Hacked for $32 Million, Another Example of Crypto’s Volatility

A Tokyo-based cryptocurrency exchange called Bitpoint has suspended operations after it lost $32 million to a hacking last night. The company that runs the exchange, Remixpoint, discovered that ¥3.5 billion worth of various digital currencies had disappeared under its management. Bitpoint Hacked and Suspends Operations According to the exchange, the funds went missing from a hot wallet (a wallet connected to the internet), but other funds held in cold wallets or offline haven’t been affected. The hacking was brought to light when an error appeared in the exchange’s outgoing funds…

Bitcoin (BTC) Absorbs Sell Pressure, Will $11,200 Hold?

Bitcoin (BTC) up 2.8 percent Hackers strike Bitpoint, user funds stolen Bitpoint is the latest Japanese exchange to lose customer funds through a hack. In an announcement, the exchange said it lost $32 million worth of Bitcoin, Litecoin and other coins stored in their hot wallet. At the time of press, BTC is up 2.8 percent. Fundamentals Japan is known for its flexibility. As one of the early adopters, Japanese regulators are firm on their oversight. Formulating and implementing consumer-centric laws, the Financial Services Agency (FSA) has the best interest…

Ethereum (ETH) Vulnerable, Prices Below A 3-Month Support Trend Line

Ethereum (ETH) is down 3.2 percent Omar Reyes, a candidate vying for a Congress seat in Florida, wants to issue an Ethereum token Props, an ERC-20 token, is compliant with a key regulation. As a result, investors can have a financial stake in the issuing company following SEC qualification. As of the time of writing, bears are in control after the July 11th’s breakout below the main support trend line. Ethereum Price Analysis Fundamentals Well, it appears as if blockchain is not immune from politics. The disruptive platform may have…

Cardano Plans To Boost Liquidity As ADA Bears Strike

Cardano (ADA) down 17.7 percent week-to-date.  AlgoZ and Cardano partner for liquidity Charles Hoskinson’s Cardano is distinct because of their insistence on quality and research. Therefore, despite recent sell-off, their deal with AlgoZ could attract institutional backing. Meanwhile, ADA is down 17.7 percent week-to-date. Cardano Price Analysis Fundamentals That Cardano has potential as a top-tier digital asset and smart contracting platform is true. Boasting high trading volumes and managing to compete with the likes of Ethereum and Tron in the liquidity leaderboard, ADA is proving that it deserves to be…

Bitcoin Price (BTC) Testing Crucial Support: Can The Bulls Stage Recovery?

Bitcoin price declined sharply below the $12,000 support area against the US Dollar. The price traded close to the $11,000 support and it is currently consolidating losses. There is a key bearish trend line forming with resistance near $11,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price could either recover above $11,400 or it might extend losses below the $11,000 support. Bitcoin price reached the key $11,000 support area against the US Dollar. BTC is currently consolidating and seems to be preparing for the…

Bitcoin And Crypto Market Remains Vulnerable: BCH, XLM, EOS, TRX Analysis

The total crypto market cap declined heavily and tested the $285.0B support area. Bitcoin price is under a lot of pressure and it recently tested the $11,000 support area. BCH price is down 5% today and it settled below the $350 support area. EOS price is currently correcting higher, but it may face hurdles near the $4.80 level. Stellar (XLM) price tumbled below the $0.0900 level and even tested the $0.0850 support. Tron (TRX) price extended losses by more than 8% and broke the $0.0300 support area. The crypto market…

Ripple Price (XRP) Could Underperform: Recovery Could Face Hurdles

Ripple price declined heavily below the $0.3800 and $0.3500 support levels against the US dollar. The price even traded close to the $0.3000 support level and it is currently correcting higher. There is a new breakout pattern forming with resistance near $0.3320 on the hourly chart of the XRP/USD pair (data source from Kraken). The price could correct higher, but upsides are likely to remain capped near $0.3460. Ripple price is currently under a lot of pressure against the US Dollar and bitcoin. XRP price might recover towards the $0.3460…