The British Queen and Prince Harry are having crisis talks, after the latter said that he didn’t really want to be royal any more, and was moving to Canada with wife, Meghan. We cannot confirm or deny rumors that his real motivation might be more to do with cheap hydroelectric energy and atmospheric cooling for a planned Bitcoin mine.
Bitcoin Price: Gaining Ground
It’s been a fairly healthy week for BTC price; a bit of a rollercoaster, admittedly, but an undeniably healthy outcome.
The positive end to last week had some bullishly wondering if 2020 could be another 2017. Then right on cue, bitcoin price broke out, pushing through $8k for the first time in over six weeks.
And it wasn’t done there. Another surge took us to a seven-week high of $8450, with eyes on $8.8k as a new target. Could we see 2020 buck the January trend of fairly sluggish price action?
Well, it certainly wasn’t sluggish. Over the course of 48 hours, the price tumbled rapidly back down through $8k, even going as low as $7,750. At the same time, futures volumes exploded, with Bakkt hitting record highs in open interest.
The dip was brief though, and bullish traders were proved right as a bounce took us back above $8k. The price topped out (for now) at $8250, and has since pulled back into a range around $8150.
However, a big rally may be ahead, with the Lucid SAR system indicating its first buy signal since Mar 2019.
News In Brief
Rumors abound that Apple is finally warming up to cryptocurrency, as the latest Apple developer pack contains a new Crypto Kit feature. Will the iPhone 12 finally see built-in crypto features?
UK foreign exchange company, Travelex, was hit by a ransomware attack. The criminals demanded $6 million worth of bitcoin in exchange for decryption tools.
The North Korean ‘Lazarus’ hacker group appears to be active again, targeting cryptocurrencies through the Telegram app.
On a more positive note, an Interpol operation in South East Asia drove crypto-jacking down by almost 80%.
On a more unnecessary note, Elon Musk whipped crypto-twitter into a frenzy by tweeting “Bitcoin is *not* my safe word.” Well one can’t have a safe word which might come up naturally in the throes of passion, can one Elon?
The ‘Pro-Bitcoin’ Nakamoto initiative came to an end on Monday… just three days after it had launched its ill-fated Telegram channel. With a member list including notable forker, Roger Ver, and Ethereum-king, Vitalik Buterin, many weren’t convinced how ‘Pro-Bitcoin’ the group really was… then trolled it into oblivion!
And Finally…
We learned this week that cryptocurrency mouth, and US presidential candidate in hiding, John McAfee, will not be polishing off his one-eyed trouser snake live on television, although sadly not because BTC reached $1 million.
It was all, “A ruse to onboard new users. It worked.” he tweeted. He also seems to have shifted his affections from bitcoin entirely, calling it “ancient technology,” and questioning:
Bitcoin is our future?
Was the Model T the future of the automobile?
But while the (hopefully) vast majority of the crypto-world breathes a collective sigh of relief to have that sword of Damocles no longer dangling above us, it does kinda feel a bit like a cop-out… just saying.
What was your favorite bitcoin and crypto news story of the week? Let us know in the comments below!
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The British Queen and Prince Harry are having crisis talks, after the latter said that he didn’t really want to be royal any more, and was moving to Canada with wife, Meghan. We cannot confirm or deny rumors that his real motivation might be more to do with cheap hydroelectric energy and atmospheric cooling for a planned Bitcoin mine.
Financial technology firm Paxos has formed a partnership with INTL FCStone Inc’s precious metals division. The department will now be using Paxos Confirmation Service — a tool built specifically for the precious metals arena — to instantly automate daily trade confirmations and reduce human error.
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John McAfee threw down the gauntlet last week when claiming his newly-created Bitcoin wallet, Bitfi, was “unhackable. ” It took security researchers less than a week to hack it. As of yesterday, a Dutch security researcher known as “OverSoft” claimed to have root access to McAfee’s unhackable wallet.
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Bitcoin Price Key Highlights Bitcoin price recently broke past key resistance levels but is now consolidating around the $7,400 level. This could be seen as a bullish flag pattern, which follows a strong rally and could be seen as a continuation signal.
Bitcoin Cash Price Key Highlights Bitcoin Cash also formed a double bottom reversal pattern and appears to be inching past the neckline. In that case, this could confirm that bulls are back in the game and ready to take price much higher from here.
Bitcoin Price Key Highlights Bitcoin price appears to be keeping its head above the near-term area of interest at the channel support. If a bounce back to the resistance happens, an inverse head and shoulders pattern could also be completed.
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A manhunt is currently underway for a businessman that was kidnapped near his offices in Cape Town. According to some sources, a ransom of 50 Bitcoin has been demanded for the man’s return.
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Bitcoin Price Key Highlights Bitcoin price is finding resistance at the short-term descending trend line and area of interest. If the downtrend resumes, bitcoin could tumble to the Fibonacci extension levels next.
Tether Ltd. , which issues a stable coin allegedly tied to U. S. dollar reserves, claims it has hired Freeh Sporkin & Sullivan LLP — a law firm co-founded by FBI Director Louis Freeh — to confirm its bank deposits and assure investors that its cryptocurrency is backed by USD.
The “request has been rejected,” came response from the CIA, “with the agency stating that it can neither confirm nor deny the existence of the requested documents. ” A tech writer petitioned ‘the agency’ to see what it had on the subject of Satoshi Nakamoto, the name credited with founding Bitcoin, the world’s first decentralized cryptocurrency.
The U. S. Central Intelligence Agency (CIA) has “neither [confirmed] nor [denied] the existence” of information regarding the real identity of Bitcoin creator Satoshi Nakamoto, Motherboard reported June 14.
In a new Netflix documentary dubbed Running With the Devil: The Wild World of John McAfee, his former girlfriend Samantha Herrera claims the British-American anti-virus software pioneer is very much alive.
Samantha Herrera, John McAfee’s ex-girlfriend, says that contrary to official reports, McAfee did not die in his prison cell but escaped and is now living in the United States. Happily...
British national and tech mogul John McAfee has been confirmed dead by Spanish authorities. McAfee Death Under Investigation According to Spanish outlet El Pais, creator of popular computer antivirus software McAfee, died by suicide while behind bars on Wednesday, at the age of 75.
British-American computer programmer, founder of one of the earliest software anti-virus companies McAfee Associates, and cryptocurrency evangelist was reportedly committed suicide in a prison in Spain.
John McAfee is no more. Per reports, the eccentric entrepreneur-turned-crypto-bull committed suicide in a prison cell in Brians 2 Penitentiary Centre in Barcelona, Spain. His death came shortly after the Spanish National Court approved his extradition to the United States to face trial for tax evasion.
According to a spokeswoman for the Superior Court of Catalonia, former crypto promoter John McAfee was discovered dead in his prison cell near Barcelona, Spain at the age of 75. A medical examiner is on the scene since hours ago when his deceased body was first found, and the scene is now under investigation. Here’s […]
John McAfee, a software developer, and entrepreneur was indicted with fraud, tax evasion, and money laundering conspiracy. According to the indictment filed by the US Attorney’s Office of the Southern District of New York, McAfee and other accomplices allegedly obtained over $10 million with illicit activities related to cryptocurrencies. McAfee was accused of using his […]