Bitcoin Rebounds Sharply: Here’s Why 100 SMA Could Trigger More Gains

Bitcoin is surging and it recently tested the $9,400 support area against the US Dollar. BTC price is likely to continue higher towards $10,000 as long as it is above the 100 hourly SMA. Bitcoin is showing positive signs above the $9,650 and $9,700 levels. There was a sharp rebound after the price declined towards the $9,400 support zone There was a break above a key bearish trend line with resistance near $9,670 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to…

3 Reasons Bitcoin Price Could Be on the Verge of a New Uptrend

The price of Bitcoin (BTC) has risen by 170% in the last three months from $3,600 to $9,700. Despite this immense 3 month recovery, a series of fundamental factors point to the possibility of another uptrend in the near-term. Three reasons Bitcoin is likely to see an upsurge are increasing exchange outflow, miner revenue finding support, and the rising number of so-called “hodlers” or investors that hold BTC for prolonged periods. A confluence of three compelling factors set Bitcoin up for a move up When the outflow of Bitcoin from…

Block.One to Launch Social Media Platform Ahead of Schedule

Voice, the social media platform by EOS creator Block.One, announced that it will launch on July 4. According to a Tweet posted by Voice Chief Executive Officer (CEO) Salah Zalatimo on June 6, the social media platform will be available to readers on U.S. Independence Day, with only registered users able to publish content or engage online.  “We had been building towards a big reveal this fall,” said Zalatimo, “but, we simply can’t wait any longer. We need to take social back from big tech NOW.” The platform had been…

The Ongoing Miner “Feeding Frenzy” Is Bullish for Bitcoin in the Long Run

After fears of “capitulation” passed over the market, Bitcoin miners are back in the game, activating new hardware once again after May’s block reward halving. There’s been such a high amount of activity in the mining space that according to Bitcoin data analyst Digitalik.net, blocks are being mined (on average) at their fastest rate since June 2014. We are currently in the fastest difficulty era since jun 2014. Current block interval 8min 5sec.#bitcoin #btc #halving #stocktoflow — digitalik.net (@digitalikNet) June 7, 2020 The excitement among miners has been echoed by…

Investors Turn Bullish as Bitcoin Exchange Reserves Drop to 1-Year Low

According to data from glassnode, Bitcoin reserves on cryptocurrency exchanges fell to a 12-month low. This coincides with a reported mass outflow of BTC from Coinbase. On June 6, various media outlets reported that Coinbase may sell its blockchain intelligence arm Coinbase Analytics to the Internal Revenue Service (IRS) and the Drug Enforcement Agency (DEA). Following the reports, there was a surge in BTC outflow from the exchange. Investors withdraw Bitcoin as a precautionary measure Like any other regulated exchange, Coinbase holds a trove of user data due to its…

Bloomberg BTC Bombshell, Coinbase Fury, Ether vs. Tether: Hodler’s Digest, June 1–7

Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Forget $10,000, Bitcoin’s $12,000 breakout will catch everyone off guard Once again this week, BTC suddenly soared into five figures — hitting $10,380 soon after Donald Trump mobilized police and the National Guard to disperse protests outside the White House. The surge helped break a…

Bitcoin Is at the Apex of a Key Pattern — the Breakout Will Decide BTC’s Trend

Bitcoin’s price action has been rather volatile over the past two weeks, with the asset whipsawing between the $8,000s and $10,000s. In the past week alone there was approximately $250 million worth of position liquidations on BitMEX alone due to the volatility, according to data shared by crypto derivatives tracker Skew.com. Yet the price action has actually been consolidation from a macro perspective. Bitcoin is now approaching the apex of a crucial triangle pattern that has contained Bitcoin’s price action for the past few months. Its breakout will most likely…

How Blockchain Technology Can Help Fighting Against COVID-19

Many financial and human resources are being deployed in the effort to fight the ongoing COVID-19 pandemic. Technologies are also being used in this fight: artificial intelligence for research, 5G to increase information transmission speed and many others. Blockchain is not being left out of this fight, as it now plays an important role in helping institutions and governments around the world respond to COVID-19, and is currently being integrated into healthcare and food supply chains. How blockchain platforms can help defeat a pandemic Blockchain platforms can be used to…

Over $10 Million Liquidated as Bitcoin Surges 5% Higher Ahead of Weekly Close

After plunging on Sunday morning, Bitcoin has mounted a strong comeback over the past two hours that has seen it reverse the earlier losses. In the past 30 minutes, the cryptocurrency has rallied from $9,540 to a high of $9,800 — a 2.7% move. And since the daily lows of ~$9,370, the asset is up just shy of 5%. The rally to $9,800 comes just hours ahead of the close of BTC’s weekly chart candle. Bitcoin price chart over the past day from TradingView.com. Traders were largely caught off guard…

Ransomware Attack Exposes 1.5TB of Stolen Aerospace Data

ST Engineering Aerospace’s US subsidiary suffered a ransomware attack that managed to extract about 1.5TB of sensitive data from the firm and its partners. According to an article published by The Straits Times on June 6, the Singapore-based company was allegedly attacked by the well-known ransomware gang Maze in March, citing an analysis by cybersecurity firm, Cyfirma.  The report details that the data stolen by the criminals is related to contract details with various government, organizations, and airlines across the globe. No additional details were provided on its content. Undetectable…