Bitcoin Soars 12% & Smashes Crucial Resistance: Bulls Aim $12K

Bitcoin rallied over 10% and it broke the key $10,500 resistance against the US Dollar. BTC is now trading nicely above $11,000 and it seems like the bulls are aiming a test of $12,000. Bitcoin extended its rally above the $10,000 and $10,500 resistance levels. The price traded to a new monthly high at $11,422 and it is currently consolidating gains. There is a major bullish trend line forming with support near $10,8s00 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to…

Bitcoin Trends on Twitter in the U.S. and Canada as Price Jumps 15%

It’s been an absurd day for Bitcoin. The asset is up in excess of 10% in the past 24 hours, surging higher as crucial resistances fall to buyers. With one of the best daily performances in months and an extremely impressive macro setup, investors around the world are taking notice of Bitcoin. Multiple reports have indicated that the asset is going viral on Twitter, trending in at least the U.S. and Canada. Related Reading: Crypto Tidbits: Twitter’s “BTC Scam,” Elon Musk & Dogecoin, Institutions Want BTC & ETH Bitcoin Trends on…

Three Individuals Behind Alleged PlexCoin ICO Scam Charged with Fraud

Three Canadian citizens involved with an alleged initial coin offering scam from crypto project PlexCorps have been charged with fraud over conning investors out of $8 million. According to a July 24 statement from the U.S. Attorney’s Office in the Northern District of Ohio, PlexCorps owners Dominic Lacroix and Sabrina Paradis-Royer as well as former employee Yan Ouellet were indicted on five charges, including conspiracy to commit securities fraud and wire fraud, wire fraud, and conspiracy to commit money laundering. The three were found to be responsible for transferring millions…

Japanese Otaku Coin Association Welcomes New Leadership

Formed to connect fans of Japanese animation, the Otaku Coin Association has announced leading figures from the anime and the blockchain industry will join its leadership team. According to a July 27 article in Japanese news outlet AdverTimes, executives from Dentsu Japanimation Studio and the Hakuhodo Blockchain Initiative will be joining the Otaku Coin Association (OCA) as new directors. The OCA appointed Makashi Muto from Dentsu and Yusuke Ito of Hakuhodo to its team. The association started distributing 6 million tokens among 15,000 participants for free in September 2018. However,…

Eerily Accurate Bitcoin Fractal Predicts BTC Could Hit $20k This Year

What a day it’s been for the Bitcoin market. After holding under $9,000 for multiple days and weeks, the asset saw an extremely explosive breakout that saw it reach a local high of $10,450 literally just minutes ago. With this latest leg higher, BTC is up 13% in the past 24 hours — outpacing a majority of altcoins, including Ethereum and XRP. Some are fearful that the rally stops here, citing a number of trends, including a CME gap and a Tom Demark Sequential “9” candle. Yet an eerily fractal…

Bitcoin Price Rallies 13% to Break Through $11,000

Within the last hour Bitcoin (BTC) price pushed through the $11,000 level in a high volume surge which saw the price reach a new 2020 high at $11,394.  At the time of publishing the price has pulled back slightly to the $11,150 range but purchasing volume continues to rise on the 1-hour timeframe. This suggests that the top-ranked digital asset on CoinMarketCap may have another go at the daily high.  Crypto market weekly price chart. Source: Coin360 As reported earlier by Cointelegraph, on-chain activity registered a significant spike in exchange…

Why Bitcoin is “Building Up Steam” for a Push Higher Despite Slowing Momentum

Bitcoin’s intense uptrend seen throughout the past couple of days has allowed it to navigate towards its crucial high time frame resistance region that sits at $10,500. The crypto came incredibly close to tapping this price level earlier today, but the selling pressure here was significant and it has since declined back down to $10,300. Although buyers have not yet expressed that they have enough strength to shatter this crucial level, bears’ inability to catalyze any type of intense selloff at this price level is a positive sign for its…

Exchange Activity Explodes Following Bitcoin’s $10K Breakout

Bitcoin’s (BTC) recent breakout was accompanied by a massive spike in on-chain exchange volume activity, according to data from Glassnode. On-Chain exchange activity. Source: Glassnode. Unlike regular trading volume that is often artificially inflated by the exchanges, on-chain activity may be more indicative of the true patterns. Interestingly, the only metric that experienced a downward trend is the number of exchange deposits. This may be a bullish sign in its own right. Weekly percentage change in volume. Source: Kaiko. 700% growth in DAI/USDT The data for the previous week indicates…

Ransomware Victims Are Fighting Back Against Their Attackers and Winning

The No More Ransom decryption tool repository, an initiative launched by Europol to combat ransomware attacks, has saved individuals $632 million in ransom demands since 2016. According to the announcement published by Europol, the repository is celebrating its fourth anniversary. Over the past four years, the repo has gathered over 4.2 million visitors from 188 countries thanks to a compilation of tools from 163 partners. The initiative’s website lists 100 different tools covering 140 different families of ransomware. Covering a wide range of ransomware decryptors The project’s largest contributor is…

This Data Metric Shows Ethereum is at a Make or Break Price Level

Ethereum’s price has been driven higher by a massive influx of buying pressure seen throughout the past several days. The intensity of its uptrend has even been enough to drive Bitcoin’s price higher as well, with the benchmark cryptocurrency flying past its $10,000 resistance level yesterday shortly after Ethereum was able to rally up to $320. The cryptocurrency has since stabilized around this price level as buyers attempt to garner greater support. Analysts are now convinced that further upside is imminent for ETH, as the technical strength created by its…