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.
Brokerage Giant TP ICAP Opens Its Doors To Bitcoin Trading
“We want to be close to what’s happening within this nascent asset class because we believe it’s important to invest in the early stages of a growing market.”The brokerage giant TP ICAP hopes that the new bitcoin trading option will attract the new clients’ money and will diversify its offering. The company which operates as an intermediary to financial, commodity and energy markets has seen a slight slump in revenue since the 2008 meltdown. Brokerage companies like ICAP mainly make trades for its banking partners but the volumes show that the company was forced to issue a profit warning in 2018. The initiative will be conducted from London by Duncan Trenholme and Simon Forster who have plans to expand in the United States and in Asia. The ICAP services will provide derivatives trading but they won’t turn their eyes from the option to hold digital assets directly in the future. Forster admitted that the number one cryptocurrency poses a threat to traditional assets so the finance executives can’t really afford to stand on the sidelines:
“TP ICAP also understands that this technology could disrupt or impact other asset classes where we currently operate, so we feel it’s important to be informed.”The traditional finance firms are slowly getting into crypto as well. At the start of the year, Fidelity launched bitcoin custody services for their clients. The multi-million asset management company will also facilitate bitcoin trading in the upcoming months. Also as noted in some of the best cryptocurrency news sites, the Intercontinental Exchange (ICE), which is the parent company of the New York Stock Exchange is preparing to launch Bakkt which is a physically-settled bitcoin futures and custody offering. In the meantime, Nasdaq will launch its own platform for bitcoin derivatives in 2019.
Bitcoin Ignores Correction Calls: Where Is BTC Headed?
“$BTC – found resistance right at the lower cloud and has opened the weekly candle inside the cloud. This represents the highest time frame that #bitcoin has breached into the cloud…with resistance at just above $10K…”An analyst named Chonis Trading then took to Twitter with the following statement: https://twitter.com/BigChonis/status/1140410183665049603 He also added:
“One more step up the mountain as #bitcoin hits right at the 38.2% fib resistance making it the next target for the bulls to close over and also makes maintaining the 23.6 fib support that much more important for overall continuation…”As Bitcoin ignores correction calls, many believe that the $10,000 mark could be achieved very soon.
Bitcoin Hash Rate Reaches New High As Price Reclaims $9,000
Bitcoin Just Surpassed 1 Million Daily Active Addresses
"When Bitcoin first broke 1 million active addresses (Nov 27, 2017), 1 BTC was $9,352 and the median tx fee was $3.23. Yesterday 1 BTC was $8,230 and the median tx fee was $1.33."Even though the DAA does not man much in practice, the fact that Bitcoin just surpassed 1 million daily active addresses is an important metric on many altcoin news sites - mostly because it shows actual and unique transfers which are separate from the direct ones to and from bigger exchanges. The fact that there are more than million unique addresses transacting on the blockchain is good for Bitcoin. https://twitter.com/kerooke/status/1139919876838047744 In order to put this number in perspective, however, we can link to Uber and its estimated 14 million rides per day or estimated 798,877 iPhones a day which Apple sold in 2017. While these are comparisons like Apples to oranges, it is definitely interesting to note that Bitcoin is doing the transaction volume of some of the biggest brands in the world. The news that Bitcoin just surpassed an interesting milestone are re-shared on many best cryptocurrency news sites. Curiously, shortly after reaching this milestone, Bitcoin's price started rising going from $8,450 to a $9,300 high. At press time, the Bitcoin price seems to have corrected and is trading a little over $9,100. One of the factors behind the flagship cryptocurrency and its price rise could be Facebook's foray in the crypto space. Still, Bitcoin just surpassed 1 million daily active users and there could be a real possibility that BTC is heading for the $10,000 mark by June 21 because of it. Right now, there are no coming altcoin news or altcoins showing a similar level - or active addresses which surpassed one million. The Bitcoin traders should be proud of that - and proud of a retracement for the Bitcoin blockchain which has not been since two years ago - in November 2017.
Join us on Facebook
- Brokerage Giant TP ICAP Opens Its Doors To Bitcoin Trading
- IBM And Stellar Partnership In Jeopardy Amid Exec Disruption
- Bitcoin Ignores Correction Calls: Where Is BTC Headed?
- South American Online Marketplace Works With Facebook On Its Crypto Project
- South Korean Exchanges Increase Liability Following Demands From Regulators
UPCOMING EVENTS RECOMMEND BY DC FORECASTS
Regulation5 days ago
Financial Action Task Force Wants To Turn BTC Exchanges Into Banks
Ethereum News2 days ago
Ethereum Will Skyrocket By 70% Against BTC: Analyst Prediction
Bitcoin News3 days ago
Bitcoin Tax Evasion Will Be Criminally Punishable: IRS Warns
Bitcoin News3 days ago
Weiss Ratings Upgrades Bitcoin From B- To B: Report
Altcoin News3 days ago
Bitcoin Wraps Around $8,200: Consolidation Could Happen Soon
Altcoin News1 day ago
Hottest Cryptocurrency Is Up 330% This Year (And It’s Not Bitcoin)
Bitcoin News4 days ago
Call Center Scam From India Steals $1.7 Million In Bitcoin
Blockchain News5 days ago
Erik Finman Will Bring Crypto To The Masses With The Help Of CoinBits