Bitcoin Tanks Over 10 percent Below $36,000 Amid Huge Miner Selling Pressure

January 11th, 2021

Finally, after an unprecedented rally during the first complete week of 2021, the BTC price has entered correction tanking more than 10% and slipping below $36,000 levels. At press time, Bitcoin (BTC) is down 11.58% trading at $35,734. The recent Bitcoin (BTC) price correction comes after two days of price consolidation around $40,500 levels and…

Russian Oil Giant Provides Excess Gas to Operations Powering Bitcoin Mining Devices

January 10th, 2021

The firm Gazpromneft, an oil subsidiary of the Russian natural gas and global energy company Gazprom, is giving bitcoin mining operations the chance to power operations by using excess gas for electricity. The Russian firm has allowed a small mining operation to benefit from the excess gas by mining bitcoin on-site at the oil field….

This Bitcoin Ransomware Rakes in $150 Million in BTC

January 10th, 2021

A new report by two cybersecurity firms has revealed that one ransomware family is particularly successful, raking in over $150 million in bitcoin. The ransom payments “sometimes amount to millions of dollars and typically run in the hundreds of thousands range.” Ransomware Makes $150 Million in Bitcoin The Ryuk ransomware family has raked in $150…

Spanish Police Detain Four People Allegedly Involved in a $15M Crypto Ponzi Scheme

January 9th, 2021

The Spanish police detained four people of different nationalities this week for allegedly running a $15 million crypto Ponzi scheme. According to the police, “many victims” filed a complaint against them. Victims Believed Their Bitcoins Went to a Legit Company According to Policia Nacional, the four accused are Argentine, Spanish, and Italian nationals aged between…

The War of Bitcoin Whales, An Interesting Take At Who’s Buying and Who’s Selling

January 9th, 2021

Well, if anything is responsible for the current price surge in Bitcoin (BTC), it’s the war among the Bitcoin whales that took its price above $40,000. BTC has surged over 34% since the beginning of 2021 so far and if we look at the buying pattern, whales have been buying at different BTC price points…

As BTC Continues to Soar Finland Wants to Cash in on Bitcoins Seized in 2016

January 8th, 2021

Finland’s customs officials have revealed plans to sell 1,981 bitcoins that were seized mainly in connection with drug trafficking-related criminal investigations. The majority of the confiscated bitcoins (1,666) are from the Douppikauppa case, the darknet operator who was arrested in 2016. To Sell or to Destroy the Coins According to a report by one Finnish…

As Bitcoin Hits $40,000, Grayscale Sees Rising Interest From Pension Funds and Endowments

January 8th, 2021

In a massive crypto market rally, Bitcoin (BTC) price surged all the way to $40,000 hitting a new all-time high. The massive rally came on Thursday, January 7 when BTC added $5000 to its price in a single day moving from under $35K to all the way up to $40K. Also, with the current price…

New Online System at Mt. Gox May Be Used to Facilitate Bitcoin Refunds to Creditors, Says Trustee

January 8th, 2021

Mt. Gox’s trustee, Nobuaki Kobayashi, has asked creditors of the defunct crypto exchange to register on a new online system so that they might receive their refunds and be able to vote on the civil rehabilitation plan. ● In a statement released Jan. 7, Kobayashi said the registration targets those creditors who have already filed…

Top Gambling Firm IGT Obtains US Patent for a System to Enable Customers to Fund Their Bets via Crypto

January 7th, 2021

A gambling tech giant received the green light from the U.S. Patent and Trademark Office (USPTO) to start offering cryptocurrency payment options to their users. The company is known for manufacturing slot gambling machines. Gamblers Could Also Transfer Crypto From Their Wallets to the Casino’s Ones Per records from the USPTO, International Game Technology (IGT)…

Bitcoin price imminent leap to $40,000 awaits breakout at this key level

January 7th, 2021

Bitcoin is on the verge of the ultimate breakout to $40,000. The push to rally to this new all-time high comes after the flagship cryptocurrency pierced through the resistance at $35,000 on Wednesday. At the time of writing, BTC is teetering at $37,000 but has tested new all-time price levels close to $37,500. Bitcoin must…