Hackers Transfer $28 Million Worth of Bitcoin from 2016 Bitfinex Breach

July 28th, 2020

Around 2,500 stolen bitcoins ($28 million) from the 2016 Bitfinex breach were transferred from the hacker’s wallet on Monday. The last time the Bitfinex hackers moved funds from the hack four years ago, they moved around $5 million worth of coins on June 24. This time around, the top crypto asset by market capitalization touched…

Bitcoin Price Analysis: BTC/USD Journey To $20,000 Begins As Cup And Handle Pattern Forms

July 28th, 2020

Bitcoin price rally has officially commenced following eight weeks of tight range trading. The bulls are still building on weekend gains that saw Bitcoin breach the $10,300 mark for the first time in three months. BTC/USD extended the action above $11,000 as predicted by Coingape. At the time of writing, Bitcoin is teetering at $11,199….

Bitcoin Fees Skyrocket 590 percent Since Mid-June – Supporters Think Mempool Size Is ‘Bullish’

July 28th, 2020

Bitcoin fees have grown much larger in recent days spiking to a two-month high to $3.80 per network transaction. The crypto asset’s fees have jumped 590% since June 14 and the mempool (transaction backlog) has grown significantly. Digital currency markets have been extremely bullish lately as bitcoin (BTC) touched a high of $10,974 on Bitfinex…

Bitcoin Price Analysis: BTC/USD Towering Above $10,000 and The Grand Journey To $11,000

July 27th, 2020

Bitcoin price is ending the month of July in great style after pushing above the critical $10,000 level during the just-concluded weekend session. Following the return of volatility to the crypto market, bulls have been keen not to fall back into the slumber and hibernation experienced for more than six weeks. Some of the critical…

Hyperinflation Hits Lebanon: Food Prices Soar 200 percent, Biggest Crisis Since Civil War

July 27th, 2020

Lebanon has entered hyperinflation, the first country in the Middle East and North Africa to do so. With a 462% annual inflation rate and food prices rising by almost 200% this month, Lebanon has joined Venezuela is hyperinflating. Meanwhile, the Lebanese pound has lost 82% of its value this year. Lebanon in Hyperinflation Lebanon has…

Bitcoin Crosses $10,000 7th Time This Year, Is this the Real Deal?

July 26th, 2020

Bitcoin [BTC] crosses 10,000 again and investors are becoming apprehensive if this time the continuation will lead towards previous highs in 2019 and 2017 at $14,000 and $20,000. Not only Bitcoin but Ethereum also recorded its’ yearly high at $321 in price with over 30% rise. Willy Woo, leading on-chain analyst thinks it might be…

Bitcoin Price Flirts With $9,600 As $10,000 Beckons Profusely

July 24th, 2020

Since Tuesday, bulls have remained relentless in the push for gains towards the psychological $10,000. The return of volatility following extended motionless trading is still exciting among the buyers. A brief but impressive rally on Wednesday stalled under $9,600. However, the price action on Thursday sent BTC a notch higher where the price closed in…

New Russian Law Bans Bitcoin Payments for Goods and Services

July 24th, 2020

Russian lawmakers have passed a bill that gives legal status to cryptocurrencies such as bitcoin – but bans them from being used to pay for goods and services. Legislators approved the Digital Financial Assets (DFA) bill on July 22 after its third and final reading. It had already won backing from senior lawmakers like Anatoly…

South Korea to Charge 20 percent Tax on Bitcoin Profits Under New Law

July 23rd, 2020

South Korea will now tax profits made from buying and selling of cryptocurrency at 20% after the government agreed to the decision on Wednesday. The decision was reached after months of debate. According to a taxation policy amendment notice released July 22, the Ministry of Economy and Finance said income from digital assets below 2.5…

EU Leaders Approve $2.1 Trillion Budget, US Lawmakers Expect Another Round of Covid-19 Relief Money

July 23rd, 2020

The world’s bureaucrats have been on a money creation spree and on July 21, the European Union approved an unprecedented $2.1 trillion coronavirus relief budget. Additionally, American leaders are in the midst of approving a new stimulus relief act amid July’s unemployment extension benefits expiring. Reports say that the estimated $3 trillion HEROES Act will…