Day: July 9, 2020

Bitcoin Just Saw Key Technical Correction But This Level Can Trigger Fresh Increase

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Bitcoin started a downside correction after it was rejected near $9,500 against the US Dollar. BTC is now trading near the main $9,200 support and it could either start a fresh increase or dive to $9,000. Bitcoin is correcting lower and approaching the $9,200 and $9,180 support levels. The price is currently trading below the $9,280 pivot level and the 100 hourly simple moving average. There was a break below a crucial bullish trend line with support near $9,360 on the hourly chart of the BTC/USD pair (data feed from…

DLT Voting Would Likely Benefit Democrats: UNSW Professor

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Richard Holden, an economics professor at the University of New South Wales Business School, says using distributed ledger technology could allay Republican concerns over mail-in voter fraud — but would likely benefit the Democratic Party.  Holden spoke at the Unitize conference on July 9 on The Law and Economics of Blockchain. The university professor said distributed ledger technology (DLT) has the potential to increase voter turnout and have a “meaningful effect” on the outcome of U.S. elections —  but  there are still issues around the overall integrity of the process.…

Community Asked for Input to Guide Australia’s Blockchain Roadmap

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The Australian National Blockchain Roadmap Steering Committee has reached out to the wider blockchain community in order to create working groups to explore specific applications of the technology within the supply chain, agricultural and educational sectors. The invitation on the Australian Government’s Department of Industry, Science, Energy and Resources’ website asks interested parties to submit their expressions of interest before the 22nd of July. The working groups will explore and identify use cases and economic opportunities as well as barriers that may prevent adoption across Australia, presenting their findings to…

New York Court Rejects Bitfinex Appeal Over $850M in Lost Funds

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A New York Supreme Court has found that veteran cryptocurrency exchange Bitfinex and its related stablecoin company Tether (USDT) must face claims they concealed the loss of commingled corporate and client funds. The claims were brought by New York Attorney General Letitia James, who has accused firms associated with Bitfinex and several associated companies of hiding more than $850 million in lost funds. Bitfinex asserts that its funds were deposited with Crypto Capital — a Panamanian firm accused of providing shadow banking services to virtual currency exchanges — before being…

Sell Signals On Ethereum and Others Could Mean Altcoin Season Is Finished

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Chainlink set a new all-time high and has gone parabolic. Dogecoin has gone viral. Even XRP is pumping. The crypto space is clamoring that altcoin season is finally here. However, sell signals appearing on the price charts of numerous alts suggest otherwise. Is alt season already over before it officially began? Altcoin Season Explained Bitcoin and altcoins exploded alongside one another during the crypto bubble. But since then, the two crypto assets have had a somewhat inverse relationship. When Bitcoin was pumping all throughout 2019, altcoins fell further in value.…

Islanders Demand Return of ‘.IO’ Domain From Colonizers

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The popular ‘.io’ domain name has become part of a complaint against the United Kingdom for  alleged human rights violations tied to its continuing administration of territories in the Indian Ocean.  Sales of the ‘.io’ domain name are being contested as a part of a complaint filed by former islanders of the Chagos Archipelago, which has been at the center of a territorial dispute between Mauritius, a former British colony, and the U.K. since the 1980s.  Now highly popular with numerous crypto, blockchain and other tech companies — not to…

By Definition, Bitcoin Is Still in a Bear Market: Why This Will Soon Change

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Bitcoin has rebounded strongly since the capitulation lows seen in March. Since March 13th, in fact, the cryptocurrency has gained in excess of 150%, having rallied from $3,700 to $9,250. With this, many have been certain that BTC is back in a bull market. According to a trader, this is technically not the case. But that’s not to say that Bitcoin won’t soon enter a bull market. Related Reading: 43% of Crypto Twitter: Bitcoin Will See 1,000% Yearly Returns Again Analyst: Technically, Bitcoin Is Still in a Bear Market  Bitcoin’s…

Successful Ransomware Attacks Decline in 2020

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The number of successful ransomware attacks witnessed a decrease between January and April 2020 in the U.S. public sector amid the COVID-19 crisis. However, researchers have recently noticed that trend reversing, with incidents now starting to increase. According to the study by the malware lab, Emsisoft, the figures show a decline in comparison to the 966 targeted establishments that were successfully attacked at the cost of $7.5 billion. Strong decline in the figures compared with 2019 stats However, during the Q1 and Q2 2019, just 128 federal and state entities,…

Trend Indicator: Bear Market Didn’t End After Bitcoin’s $3,700 Capitulation

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Bitcoin price is once again flirting with resistance above $10,000 but has yet to penetrate and hold above the key level. This latest visit has resulted in a lower high. Unless the cryptocurrency can get through and set a new local peak, the asset is at risk of setting a new lower low. It could also put the asset at risk of setting a new bear market bottom, even despite what market sentiment may suggest. Sentiment Says Bull Market Is Here, But Has Bitcoin Really Bottomed? All markets are cyclical…

MIT Crypto Group Researcher Says PoW Attacks Not Always Obvious

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Speaking on a Unitize digital conference panel about proof-of-work, or PoW, attacks, James Lovejoy of MIT’s Digital Currency Initiative, or DCI, said 51% attacks might not be evident, despite blockchain’s public nature.  Blockchains do not always show 51% attacks at first glance, Lovejoy explained on the July 9 panel. “You need an active observer to be monitoring the network to check whether or not an attack occurs,” he said.  Lovejoy has a blockchain reorganization tracker For his DCI master’s thesis, Lovejoy spun up a blockchain reorganization tracker, or reorg tracker, that…