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Crypto

Bitcoin (BTC) Prices Continue To Consolidate

Bitcoin (BTC) prices continued to move in a range close to their support zone and consolidated because of the lack of support for the price as this movement has kept prices close to the minimums in their range.

The bulls need to do something very soon and clarify their intentions because, otherwise, the bear traders would leave their positions and get off market if they won’t notice gains with their opened bullish positions.

This will most probably be the trending for the bear traders if the BTC price’s consolidation continues to drag on for a long period of time and this would be something the traders should protect their investments against.

The value of BTC has not been capable to keep the gaining uptrend above the $7,000 level and this trend has to be an issue the bulls.

Bitcoin (BTC) prices continue to consolidate

The price consolidation is not only affecting the trading value of BTC but it seems that all the cryptocurrencies market is affected by similar conditions.

On the other hand, the USD was not too strong at this time, so it’s still a big surprise that the cryptocurrencies market wasn’t capable of gaining momentum today and score huge gains against the Dollar.

However, this proves the sentiment that was characterizing the Bitcoin (BTC) market and the crypto market, in general, at this time because the speculations and fast traders become fewer and fewer on the cryptocurrencies market, as this market started to maturate more.

Forecasts regarding Bitcoin (BTC)

Looking ahead for today and tomorrow morning, there are not notable predictions to make on the cryptocurrencies market and most probably more consolidation and in-range prices movements are expected. However, it is possible that the Bitcoin (BTC) support level to be under pressure, once again, and, thus, the investors and traders should keep an eye on the market and be alert on the price movements.

Categories
Crypto

Ripple (XRP) Invests $25 Million Via Blockchain Capital To Sustain Digital And Blockchain Startups

Ripple (XRP), the cross-border transaction platform based on the blockchain technology, plans to invest $25 million for startups in the blockchain worlds, as well as for digital startups.

Paid in Ripple (XRP), the investment of $25 million will be handled by the Blockchain Capital Parallel IV, which is the first to admit capital requests in digital assets with the focus on the blockchain universe development.

As the Ripple representatives declared, Blockchain Capital manages more than $150 million in funds.

The $25 million fund is awaited to go for the business teams which are focusing on digital assets but especially on blockchain technology development.

Even more, according to Ripple, this sum is expected to give the possibility to distinguish novel applications for the Ripple’s Interledger Protocol and the Ripple XRP Ledger.

Ripple company trust the abilities of Blockchain Capital firm

According to the Blockchain Capital’s co-founder, Bart Stephens, the company is a “roads-builder” for the blockchain universe and has always been actively participated in this field numbering renowned names in its collection, such as Ripple that’s working on a new blockchain ecosystem.

“Whether it’s using Ripple (XRP), Bitcoin (BTC) or just the underlying blockchain technology, our goal is to find the best projects and give them the resources to be successful companies that deliver value to customers for the long term,” explained Bart Stephens.

In the meantime, discussing the deal with Blockchain Capital, Patrick Griffin, Ripple’s Strategic Growth VP, emphasized that “Blockchain Capital is the first fund for any project looking to get off the ground in the blockchain space. They have a proven track record for finding and funding the projects that matter.”

According to Ripple (XRP), the purpose of the $25 million investment, is that Blockchain Capital trusts the utility of Interledger Protocol and XRP Ledger, while, Ripple company is set to extend its partnerships, as well as its support, to new businesses, companies, and institutions.

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Finance News

Zuckerberg Invited to Start a Social Media Company in China after his Testimony in the U.S Congress

Everybody knows that, lately, Facebook has been involved in a huge data sharing scandal. This unfortunate event caused the social media giant a lot of trouble, since the company had lost a lot of its’ stock market value and their users’ confidence. As a result, the Chairman and CEO, Mark Zuckerberg, has been invited to testify on this matter in front of the U.S Congress.

The decision to appear in front of the Congress was welcomed by Facebook users. They considered that Zuckerberg wants to be transparent and make up for the damage, so now Facebook is a company with increasing market value. Furthermore, the Chinese have been impressed by Zuckerberg’s speech, considering it honest and transparent.

Now, they almost consider him a hero and are inviting him to start a social media network in China. This move is surprising, since in 2010 the country banned Facebook.

What could be the grounds for a social network like Facebook in China

It seems that people have many reasons to think that Zuckerberg will move to China and start a social network there. Over the years, he has learned Mandarin and has declared his affinity for Xi Jinping’s book, so he could be prepared for a total change in his personal and professional life.

The absence of Facebook has helped China develop its own social technology. The best example is Tencent, the Chinese equivalent of Facebook, a network that in 2017 had a market value more important than Facebook, of over $500 billion. Considering this, we can imagine why Zuckerberg wouldn’t want to break up Facebook – he knows that this would mean an important boom for China’s companies and a big loss for American ones.

Until we will know for sure what will happen with Facebook and whether the company’s CEO will move it in China, we can still enjoy the benefits of online communication. Facebook remains one of the most appreciated social networks.

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Finance News

How Much are Cybercriminals Earning and What do They Choose to Buy?

Cybercriminals are some of the most successful criminals nowadays. However, maybe you have wondered what they are doing with their money. A new independent study asked the same questions and they managed to find out how much money they are earning and what they choose to spend it on.

The business of cybercrime

“Cybercrime is a lucrative business, with relatively low-risks compared to other forms of crime. Cybercriminals are rarely caught and convicted because they are virtually invisible. As criminals further monetize their business allowing anyone to buy pre-packaged malware or hire hackers on demand, the ability to catch the king-pins becomes even more challenging,” said Gregory Webb, CEO of Bromium, the company who announced the findings of the study.

The study managed to find out how much cybercriminals are earning, and it appears that the income is quite high. High earners earn about  $2m/£1.4m. Meanwhile, mid-level criminals make up to $900,000. This is more than double than the presidential salary in the United States. Even the entry-level hackers are earning around $42,000, which is quite a lot.

“The cybersecurity industry, business and law enforcement agencies need to come together to disrupt hackers and cut off their revenue streams. By focusing on new methods of cybersecurity that protect rather than detect, we believe we can make cybercrime a lot harder,” explained Bromium.

What are they spending the money on?

The data was collected from 100 cybercriminals, both currently engaged and convicted. When it comes to spending, the study discovered that 15% of the hackers used that money for their immediate needs, including bills. 20% spend the money on their vices, such as drugs. 15% spend their money on objects that could be used to improve their status, such as jewelry.

30% of cybercriminals prefer to invest the money. Either into new property or other things such as wine or art. Finally, 20% of cybercriminals use the money for more equipment.

Categories
Crypto Finance News

Max Keiser talks Bitcoin in the Latest Interview

Max Keiser is a veteran when it comes to Wall Street. He has plenty of experience and recently he shared with us some of his predictions for Bitcoin. When it comes to this coin, Keiser’s show, The Keiser Report was one of the first ones that covered it, almost 7 years ago.

One of the first ones to buy Bitcoin

Max Keiser recommended Bitcoin back in 2011, when it was priced at $3. Later that year, Bitcoin’s price went under $1, so a lot of persons had a chance to buy it. When Max Keiser was asked if he believes that Bitcoin will be “the single currency for the internet”, he agreed.

Bitcoin manipulation

Keiser also discussed about the possibility that Bitcoin could be manipulated. He believes that there is no proof of manipulation when it comes to comes to Bitcoin futures contract. He believes that the low price of Bitcoin and the launch of Bitcoin Futures is just a timing coincidence.

He also believes that we might see some important investors on the crypto market in the future: “On the flip side, I think the futures contract will be a factor with the next leg of the rally to new all-time highs. Investors like George Soros and the Rockefellers will use these instruments to hedge positions and so can build much bigger positions.”

The future for banks

Keiser was also asked whether he believes that banks are quietly buying Bitcoin in order to use it as a hedge in the future. According to Max, this is definitely true and he knows him. However, Keiser says that banks are not buying enough Bitcoins in order to save them. “If you know someone who works for a Central Bank, kiss them goodbye. It’s over,” he added.

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