Last Friday, DC Forecast reported for the Bitcoin news section about the price of BTC dropping more than six percent against the US dollar and many believed that the drop was due to the email bomb threats in New York.
However, many crypto analysts beg to differ. One of the most popular misconceptions about bitcoin is that by nature, the cryptocurrency is anonymous and impossible to track. Bitcoin is a consensus currency and it is based on a decentralized network that operates on an open-source community of developers, node operators, and miners.
When a miner approves the transaction by placing it in a block, the transactions is broadcasted to the public blockchain via the nodes. This is why anyone on the network is able to track and trace and even analyze the wallets that receive a dubious transaction.
In the case with the bomb threats, individuals were asked to pay a BTC ransom and if you don’t know by now, the transaction can be traced to the group that issued the bomb threats if they try to convert the obtained bitcoins into US dollars.
The NYPD explained:
“Please be advised – there is an email being circulated containing a bomb threat asking for bitcoin payment. While this email has been sent to numerous locations, searches have been conducted and NO DEVICES have been found.”
Also, it is highly unlikely that the bomb threats cause the price to decline because the closing of the investigation would lead for the value of BTC to rise since there were no devices discovered that were connected to the bomb threats.
Bitcoin Drops In Rating According To CCID, What’s The Reason Behind It?
“Build a tamper-proof charity organization information query system and enhance the authority, transparency and public trust of information publishing and search services.”Due to Bitcoin’s hashrate, it is still the most reliable blockchain network on the market. Given the time that bitcoin has been on the market, investors can’t cope with the fact that bitcoin is ranked 15th and cryptocurrencies with two-year experiences are above it. BTC still remains as a cryptocurrency that sees an increase in hashrate despite the prolonged bear market. As for its historical performance, this data is not including in the parameters of the CCID. The CCID usually sees the dApp and scalabilty-focused networks so this could be one of the reasons why Bitcoin is down on their list. The ranking does not provide a good-enough contexts for investors to make decisions and to track the performance of the cryptocurrencies.
Key Technical Indicators Show That BTC Could Surge Up To $5,500: Analysis
“According to Bulkowski’s study, more than 60% of ascending triangles with declining volume end up breaking upwards with an average price rise of 35%. That gives us a target of $5500 BTC once the breakout is confirmed.”Other traders are optimistic about the price of Bitcoin but are a little concerned about it being incapable of breaking out the $4,000 price range and are worried about whether it would test other major resistance levels. Over the past week, BTC managed to stay relatively stable in the $4,000 range but it was unable to rebound to the $4,200 level. Alex Kruger, a well-known crypto market analyst said that Bitcoin is going through a short-term correction by saying:
“It is a simple stops run. Prices had just gone up vertically for 16 days without a pullback. Take $ETH for example: +38% without a pullback. Lots of levered longs piled up. And people FOMOed in. BTC reached the first level strong resistance ($4200) and a correction ensued. As it is with any other asset class or market, the analyst emphasized that a prolonged bullish movement is often met with a large pullback.”On the technical side, Bitcoin is having a hard time finding a decent momentum and it could require a slight push that will boost the price to escape from the $4,200 level in the near-term. While Bitcoin recorded slight losses on the day, many crypto assets like TRON, OmiseGo, and Cardano showed slight gains up to 10 percent with Cardano leading against Bitcoin. It is also important to notice the hashrate of BTC because the gap between it and the price explains that the miners are willing to mine for almost no profit because they expect for the price to increase in the long run.
Twitch Apparently Removed Bitcoin (BTC) And Bitcoin Cash (BCH) As Payment Options
There are some optimistic comments on Reddit though, just like this one from one user who scratched the surface of a feature which would make paying for subscriptions easier:
"One of BTC's weaknesses, automatic sheduled payments are something either a wallet must do, or been written inside some smart contract which requires ETH or some similar blockchain. BCH doesn't need DAPPS but something along timed payments. Any custodial wallet should offer the feature."
"Feature, not a bug. This allows the consumer full control over automatic payments, not companies which will quickly charge your card with a rate hike with little or no notification leaving the onus on the consumer to recover over charges. Smart contracts will vastly improve automatic payments models."This is interesting because on March 20, another Reddit user claimed that Streamlabs (which is another popular streaming website used by Twitch to receive tips) also removed support for cryptocurrency. As the user said, a new version of the software that has been released no longer contains support for the crypto donations. The comment section also features one comment which states:
"It's sad because it's a vicious circle with companies doing stuff like this. They've probably removed it through the lack of people using it but there's a lack of people using it because they just had no idea about it, like myself, had no clue either."Twitch hasn't responded to the request for comment on this move by press time. As we reported on our site, Twitch previously offered support for Bitcoin as a payment option using Coinbase as the go-to payment processor.
Bitcoin Expertise Is ‘Exploding’ Among Insurance Professionals In 2019: Study
“If you are not already involved in a blockchain project, you need to start looking for opportunities to test the waters with a limited use case or low-impact proof of concept,” is what Greg Donaldson said in the report, namely a senior analyst at Aite Group.When it comes to the actual growth and the need for blockchain experts, it is constantly increasing. 'Talent growth' is a category that we can see in the report which shows dramatic results. For example, only seven individuals showed their Bitcoin expertise in April 2017 - but 390 of them did in January 2019. Similarly, only two claimed both insurance and blockchain in their expertise - but 2,260 were skilled in both in January 2019.
“The interest in this technology has created an extreme need for more experts who can help the insurance industry develop solutions using blockchain,” the report notes.To sum things up, the report says that there is one system that is already implemented by some companies - which actually makes the insurance process more transparent and efficient. It keeps all of the customer information on a 'permissioned' blockchain - starting from the moment when a customer is offered a price quotation for a policy.
“Then once the customer purchases the policy, the customer knows the status and receives a policy and proof of insurance almost instantly,” explains Aite.
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