Bitcoin Hesitates But Indicators Suggest BTC Could Surge Above $9,300

Bitcoin is slowly moving higher and it recently tested $9,300 against the US Dollar. BTC is now trading well above the 100 hourly SMA, and it is likely to surge above $9,300. Bitcoin is showing a few positive signs above the $9,200 and $9,150 levels. The price revisited the $9,300 resistance and it is now trading well above the 100 hourly simple moving average. There is a significant bullish trend line forming with support at $9,180 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair…

“Perfect Storm” of Technicals Indicates Bitcoin May Plunge After Hitting $9,500

After holding the low-$9,000s for days on end, Bitcoin has attempted to break out over recent hours. The cryptocurrency trades at $9,250 as of the time of this article’s writing, having established a local peak at $9,300. Technical analysis, unfortunately, confirms that BTC may soon see a rejection. Bitcoin Could See a Strong Rejection at $9,500: Here’s Why There’s a perfect storm of technical factors suggesting that Bitcoin will sustain a rejection at $9,500. A cryptocurrency trader shared the chart below on July 1st in an attempt to convey this…

Binance Security Report Sheds Light On Crypto Scams

A report released by major crypto exchange Binance illustrates how scams targeting cryptocurrency investors attempt to gain credibility. In the report published on June 30, the exchange explained that its Binance Sentry risk investigation service observed reports of fraudulent investment schemes promising quick or exponential returns on cryptocurrency investments. The frauds do not just concern crypto but also forex, binary options and contracts for difference (CFDs). Binance published the report after a Bitcoin (BTC) scam targeted the residents of Winnipeg, Canada, in late June. Scams are often well-organized, big operations…

Boomer and Gen-X Interest in Bitcoin Surges During Pandemic

The older generations have increased their monthly Bitcoin investments by a factor of nine on U.K crypto trading app Mode since the beginning of the pandemic and lockdowns. Mode Banking reported that Baby Boomers (born 1946-1964) and Generation-X (born 1965-1980) investors are investing significantly larger portions of their wealth into Bitcoin since the start of the COVID-19 pandemic. Using February as the baseline, the findings show that investments from these generations increased 2.24x in March, 4.49x in April, and 8.88x in May. However the report does not cite any dollar…

‘I’m Getting Bitcoin! F—- This!’

Bitcoin bull Anthony Pompliano has just persuaded Bill Burr, one of the biggest comedians in the world, to invest in cryptocurrency. In a July 1 episode of the Bill Bert Podcast — so named for the comedian and his co-host Bert Kreischer — Burr said he was buying Bitcoin (BTC), after one of his famous profanity-laden tirades culminated in the phrase: “I’m getting Bitcoin! f— this s—!”. Pomp commented on Twitter after the interview: “I’m calling it now. On July 1, 2020, Bill Burr and Bert Kreischer kicked off a historic…

LocalBitcoins Revenue Up 10% Despite KYC Impacting Market Share

Veteran peer-to-peer (P2P) crypto marketplace LocalBitcoins has reported annual revenue of nearly $29.5 million for 2019. The revenue comprises a roughly 10% increase over 2018’s $26.9 million, however, the firm also noted a 6% drop in annual operating income to $19.8 million. LocalBitcoins’ staff also expanded significantly last year as the platform strengthened its know-your-customer (KYC) requirements in the third and fourth quarters of last year, with the firm’s headcount increasing from 26 to 43. LocalBitcoins stifles illicit activity “2019 was an invaluable learning experience for us, as we implemented…

Bitcoin is Showing “Signs of Exhaustion” as Analysts Eye a Movement to $8,000

Bitcoin is flashing some tempered signs of strength right now as it attempts to push up towards $9,300. This comes after an extended period of trading at $9,100 and seems to mark an extension of the momentum that the crypto first incurred when it bounced from its recent lows of $8,900 last week. This momentum – although positive on a short time frame – is not emblematic of any sort of significant shift in the benchmark cryptocurrency’s underlying trend. One prominent analyst is now noting that he believes there are…

The Last Time This Metric Was This Low, Bitcoin Bottomed at $3,200

The past two months have been a confusing time for Bitcoin investors. The cryptocurrency has traded between a rock and a hard place, barely deviating from the range lows of $8,500 and the highs of $10,000. BTC is so indecisive that analysts have noted that a textbook volatility indicator has reached multi-month lows. Citing other indicators, others have argued that volatility is even at multi-year lows. The Bitcoin bull case recently gained strength with an unexpected observation from a cryptocurrency technician. Related Reading: A Hacker Just Drained $500k in Ethereum…

Ethereum Entering “New Bull Phase” as Technical Structure Shapes Up

Ethereum is currently on the cusp of breaking back into its long-established trading range between $230 and $250. A recent influx of selling pressure experienced by the cryptocurrency forced its price to break below the lower boundary of this trading range for an extended period of time, with ETH even testing its crucial support at $220 on a couple of occasions. This price action has represented an underperformance of Bitcoin – as the benchmark cryptocurrency only broke below its established trading range for an incredibly short period of time. One…

Theft Of 100 BTC Isn’t A Crime Because Bitcoin Isn’t Property

On June 30, a Russian criminal court denied a motion to provide restitution to a victim of what would in many jurisdictions be a felony, arguing that Bitcoin (BTC), as a virtual currency, does not enjoy the same property protection as other assets. The case goes back to 2018, when the two men impersonating Federal Security Service (FSB) agents and their accomplices kidnapped the victim and forced him into giving them 5 million rubles or $90,000 in cash and 99.7 BTC — worth about $900,000 at the time. The kidnappers…