If you’ve been following cryptocurrency news the past week, then you must have heard of the Florida Localbitcoins trader who is now facing felony charges for money laundering and running an illegal money service business.
Bitcoin and other crypto assets have found a new level of support at $3500 over the past month, but is this the bottom or is there still more pain to come?
Bitcoin has a finite amount of supply, which is capped at 21 million coins.
When looking at the overall cryptocurrency market, it is evident most altcoins and tokens require positive Bitcoin price momentum to achieve an uptrend. Unfortunately, the world’s leading cryptocurrency hasn’t done great in this regard. Traders are not too certain what to make of the market, although a potential short-term price increase seems plausible at this stage.
Uncertain Bitcoin Price Momentum Remains
After the most recent market dip, traders and speculators have become even more wary of Bitcoin than before.
At press time, the father of crypto is still trading in the $3,600 range, suggesting there’s been little change over the past week. Bitcoin has developed comfort in its present position, which is annoying (and disheartening) to the rest of us.
At the same time, however, the currency did attempt to break present resistance early this morning by moving (albeit briefly) past the $3,700 mark.
At press time, the father of cryptocurrency is still trapped in the $3,600 range. Following a near two-week period of meandering about at $4,000, bitcoin is still struggling to regain traction in the crypto market.
Interestingly, the Federal Reserve Bank of St. Louis has released an argument that seemingly blames altcoins for bitcoin’s latest demise.
On January 9, Bitcoin dropped $250 in thirty minutes, taking everyone by surprise. The currency traded around $3,800 for a day, but even this couldn’t hold. Earlier today, Bitcoin lost another $160 to trade just above $3,650. A brief fightback saw the currency get back over $3,700, but the rally was shortlived. At press time, Bitcoin was trading at $3690. On Coinbase Pro and Bistamp, the currency was trading below $3,650.
After spending four days above $4,000, Bitcoin has finally given way. And it has been quite a drop, with the currency losing $250 in the space of thirty minutes. The drop sees it trading at $3816 at press time, having dropped from $4,016. Bitcoin had witnessed yet another 30-minute rally on January 6, gaining over $200 in just thirty minutes to hit $4,080. It was the first time Bitcoin had hit the $4,000 level since Christmas and many viewed it as the first step in a possible 2019 rally.
Bitcoin often gets a very bad reputation because of its association with criminal activity. While no one can deny criminals have shown a clear bias toward cryptocurrencies, there is much more to Bitcoin than just that. Even so, a recent cyber attack affected the Luas website shows hackers aren’t done with making Bitcoin ransom demands just yet.
Luas Cyber Attack Triggers Bitcoin Demand
Every time a website is hacked and/or information is stolen in the process, there is a genuine chance Bitcoin will play a role of importance sooner or later.
You’ve heard all the legendary tales about crypto investors who put in a few thousand dollars and became millionaires. One thing all these investors have in common is they all cashed out when Bitcoin was at its peak. At $20,000, Bitcoin had already skyrocketed by 2,000 percent in just 12 months. Those who cashed out were the lucky ones and they have grabbed all the headlines since. There is however a second group, one that never cashed out. This group rode the wave all the way to the top, and then all the way dow to $4,000.
At press time, the father of crypto is maintaining its present position and is staying above $4,000. First reaching this pinnacle a few days ago, bitcoin is keeping up its momentum following a nasty fall in late 2018 that took it down to $3,600 after an extended period of trading in the $6,000 range.
One of the big problems still surrounding bitcoin and other cryptocurrencies is not volatility, but rather negative sentiment. Many financial leaders still see cryptocurrencies as fantasies – things to dismiss that will ultimately have no bearing on the future of money.
Кто знает подойдет ли этот кошелек для постоянного приема в сатоши? Я просто майнить не решился, но написал несколько ботов для того, чтобы они собирали с кранов монеты. Я так понял, что это веб-кошел...