Bitcoin Today: Another one hacked exchange
Price
BTCUSD pair reached the Bearish Trend Line yesterday but showed a move downwards, staying in the bullish tendency though (above the Bullish Trend Line). These boundaries, between two Trend Lines, will be the main factors for the nearest term. Breakthrough below the Bullish Trend line will indicate a lack of demand and probably send the price testing the 6000 – 6450 support zone. A breakthrough above the Bearish Trend Line will be a positive indicator and could push the price upwards, to test the 7000.0 resistance. Watch for the volumes in case of the Bearish Line breakthrough, growing volumes will be a confirmation of the bullish scenario.
Today forecast
Trading in the 6425.0 – 6650.0 zone. In case of a breakthrough of the boundaries (Bearish And Bullish trend lines) – a possible growth of momentum.
Latest news
BTCUSD pair reached the Bearish Trend Line yesterday but showed a move downwards, staying in the bullish tendency though (above the Bullish Trend Line). These boundaries, between two Trend Lines, will be the main factors for the nearest term. Breakthrough below the Bullish Trend line will indicate a lack of demand and probably send the price testing the 6000 – 6450 support zone. A breakthrough above the Bearish Trend Line will be a positive indicator and could push the price upwards, to test the 7000.0 resistance. Watch for the volumes in case of the Bearish Line breakthrough, growing volumes will be a confirmation of the bullish scenario.
Today forecast
Trading in the 6425.0 – 6650.0 zone. In case of a breakthrough of the boundaries (Bearish And Bullish trend lines) – a possible growth of momentum.
Latest news
- Hackers Steal $30 Million From Top Seoul Bitcoin Exchange
The virtual currency was priced at $6,442 dollars late afternoon in Seoul, down about 4.4 percent from 24 hours earlier, after the latest attack on Bithumb raised concerns over cryptocurrency security.
Hyper-wired South Korea has emerged as a hotbed of trading in virtual units, at one point accounting for some 20 percent of global Bitcoin transactions - about 10 times the country's share of the global economy.
Bithumb, which has more than 1 million customers, is the largest virtual currency exchange in the South.
"It has been confirmed that virtual currencies worth 35 billion won ($32 million) was stolen through late night yesterday (Tuesday) to early morning today," the exchange said in a statement.
All deposits and withdrawals were suspended indefinitely to "ensure security", it said, adding the losses would be covered from the firm's own reserves.
It was the second major attack on South Korean virtual currency exchanges in just 10 days, after hackers stole 40 billion won from Seoul-based Coinrail, which suspended withdrawal and deposits services since then. - John McAfee’s decision to stop shilling ICOs as a regulatory day of reckoning draws near is the top item in today’s edition of Bitcoin in Brief
Antivirus pioneer and token pump master, John McAfee, has announced he is no longer working with ICOs nor is he going to keep recommending them. The reasons he gave for the move are “SEC threats” and that “those doing ICOs can all look forward to arrest. It is unjust, but it is reality.”
An explanation for what McAfee might be fearing came from Chris Concannon, the president of Bitcoin Futures supporting Cboe Global Markets. “The reckoning will come in two waves,” he said in an interview with Business Insider. According to him, ICO investors should lay awake at night worrying as the SEC will soon go after market participants. Following that he expects a torrent of class-action lawsuits against the teams behind projects. “If you sold someone an unregistered security you are liable to them if they decide to take them to court,” Concannon said.
Despite all of this don’t count McAfee out of the market just yet. He also claimed to be working “on an equivalent alternative to ICOs which the SEC cannot touch.”
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.