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Bitcoin News

Analysts Confirm: The Bomb Threats Aren’t The Reason For The BTC Price Drop

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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.

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Bitcoin News

Brokerage Giant TP ICAP Opens Its Doors To Bitcoin Trading

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brokerage giant
Brokerage Giant TP ICAP with a $2 billion market cap is finally opening the gates wide for bitcoin trading. In today’s coming altcoin news, we find out more about their decision. This is just another example of institutional crypto thirst since the London-based company will execute Bitcoin futures traders in the name of its clients. In an interview the man responsible for the initiative Simon Forster stated:
 “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.
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Analysis

Bitcoin Ignores Correction Calls: Where Is BTC Headed?

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Bitcoin Ignores
The price of Bitcoin and its fast comeback over the weekend and rise to a 13-month high has been viral and featured on many best cryptocurrency news sites. However, it seems like Bitcoin ignores correction calls which were predicted by analysts and is still above the $9,150 mark, hitting resistance once again. Right now, traders are looking for the next move from the most dominant cryptocurrency and are eyeing altcoins for bigger gains. In the altcoin news, the situation is not that different as Litecoin, Bitcoin Cash, Ripple, Ether and other digital assets are recording growth. So, no one is really expecting a correction right now - especially not after Bitcoin's strong performance and ability to retain the $9,200 price level. For those of you who did not follow our latest cryptocurrency news, it all started when Bitcoin surged through resistance on Saturday evening, recording a new 13 month high of just north of $9,300. This resulted in a 8% price increase on the day for BTC - pumping the price from around $8,600 to the highest price point of 2019. This proved that Bitcoin ignores correction calls despite the small pullback which retested the price again and formed a double top on the day. A new and larger pullback then took Bitcoin to $8,850 but BTC recovered again and is still heading upwards in the Asian trading session. At the time of writing, Bitcoin is trading shy of $9,200 which is marginally higher than yesterday morning. While Bitcoin ignores correction calls, the daily volume is also rising. The number managed to pump back to $23 billion, taking BTC's market capitalization to $162 billion which is higher than the total cryptocurrency market cap back in March this year. A collection of technical indicators named the Ichimoku Cloud recently predicted the price of Bitcoin as well as its momentum and trend decision. As it showed:
“$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.
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Bitcoin News

Bitcoin Hash Rate Reaches New High As Price Reclaims $9,000

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bitcoin hash rate
Bitcoin hash rate reached e new all-time high as the price of the major cryptocurrency tapped the $9,000 level again. Let’s look into the analysis in the coming altcoin news below. The data that we acquired shows that the BTC hash rate which is the computing power required for securing the network reached 62 quintillion hashes per second or 62 million tera hashes per second on Friday. This level is the highest ever hash rate level that bitcoin ever reached and the one that was ever recorded on the network with the previous one being 61.9 million in 2018 in August. The more mining nodes remain active on the network they will create bigger security by reducing the possibility of malicious attacks on the blockchain. Reaching the new hash rate ATH also represents a final blow to anyone who talks about mining capitulation that could emerge if the hash rate is to fall again as it did by more than 45 percent in December. The network hash rate is one of the most important elements that are currently enjoying positive growth trends. The active addresses for Bitcoin are also back above $1 million. The increase of the active bitcoin addresses does not really have a material impact on transactions fees as the main transaction charge is somewhere about $1.30. By using wallets with the robust fee calculation figures they could provide for much lower fees. While the network hash rate was setting a new all-time record, the current price for Bitcoin went on another upward ride to the $9,000 price level. The number one cryptocurrency even surpassed this level and tapped the $9,300 price range setting a new 1-year-high for the number one cryptocurrency as noted in the latest cryptocurrency news. As pointed out by the Senior Market Analyst at eToro Mati Greenspan, the network fundamentals are the best indicators for the bitcoin price movements. The latest price surge also happened during the network activity and the BTC hash rate reached a new all-time high. Bitcoin is currently up by more than 150 percent since the start of 2019 and managed to add double the market price since the start of April alone
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Bitcoin News

Bitcoin Just Surpassed 1 Million Daily Active Addresses

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bitcoin just surpassed
A new milestone is here and featured in our latest cryptocurrency news, where Bitcoin is seen surpassing the one million mark of daily active addresses. Now that Bitcoin just surpassed this crucial level, it also recorded a 13-month high and a growth that was quite parabolic this year. According to one analyst named Kevin Rooke and his tweet:
"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.
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