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United States Department of Justice
Russian Nationals Charged With Hacking One Cryptocurrency Exchange and Illicitly Operating Another
The Justice Department unsealed charges related to the 2011 hack of the cryptocurrency exchange Mt. Gox and the operation of the illicit cryptocurrency exchange BTC-e.
According to court documents, Alexey Bilyuchenko, 43, and Aleksandr Verner, 29, both Russian nationals, are charged with conspiring to launder approximately 647,000 bitcoins from their hack of Mt. Gox. Bilyuchenko is also charged with conspiring with Alexander Vinnik to operate BTC-e from 2011 to 2017.
“This announcement marks an important milestone in two major cryptocurrency investigations. As alleged in the indictments, starting in 2011, Bilyuchenko and Verner stole a massive amount of cryptocurrency from Mt. Gox, contributing to the exchange’s ultimate insolvency. Armed with the ill-gotten gains from Mt. Gox, Bilyuchenko allegedly went on to help set up the notorious BTC-e virtual currency exchange, which laundered funds for cyber criminals worldwide,” said Assistant Attorney General Kenneth A. Polite, Jr. of the Justice Department’s Criminal Division. “These indictments highlight the department’s unwavering commitment to bring to justice bad actors in the cryptocurrency ecosystem and prevent the abuse of the financial system.”
“As cyber criminals have become more sophisticated in their methods of thievery, our career prosecutors and law enforcement partners, too, have become experts in the latest technologies being abused for malicious purposes,” said U.S. Attorney Damian Williams for the Southern District of New York. “As alleged, Alexey Bilyuchenko and Aleksandr Verner thought they could outsmart the law by using sophisticated hacks to steal and launder massive amounts of cryptocurrency, a novel technology at the time, but the charges unsealed demonstrate our ability to tenaciously pursue these alleged criminals, no matter how complex their schemes, until they are brought to justice.”
“For years, Bilyuchenko and his co-conspirators allegedly operated a digital currency exchange that enabled criminals around the world – including computer hackers, ransomware actors, narcotics rings, and corrupt public officials – to launder billions of dollars,” said U.S. Attorney Ismail J. Ramsey for the Northern District of California. “The Department of Justice will work tirelessly to identify cyber criminals, no matter where they are. And Bilyuchenko and his co-conspirators will learn that the Department of Justice has long arms and an even longer memory for crimes that harm our communities.”
Southern District of New York indictment
According to court documents unsealed in the Southern District of New York (SDNY), in or about September 2011, Bilyuchenko, Verner, and their co-conspirators allegedly gained unauthorized access to the server holding the cryptocurrency wallets for Mt. Gox. At the time, Mt. Gox was the largest Bitcoin exchange in existence, servicing thousands of users worldwide. Mt. Gox stored the cryptocurrency wallets containing its customers’ bitcoin, and the corresponding private keys used to authorize bitcoin transfers from those wallets, on a computer server in Japan.
“The FBI will continue to work with our U.S. government and international partners to relentlessly pursue and disrupt malicious cyber actors wherever they may reside,” said Assistant Director Bryan Vorndran of the FBI’s Cyber Division. “When cyber criminals engage in fraudulent activity, such as hacking and illicitly operating cryptocurrency exchanges, it is critical that we impose cost on the bad actors and ensure they face justice.”
Bilyuchenko, Verner, and their co-conspirators allegedly used their unauthorized access to Mt. Gox’s server to fraudulently cause bitcoin to be transferred from Mt. Gox’s wallets to bitcoin addresses controlled by Bilyuchenko, Verner, and their co-conspirators. From September 2011 through at least May 2014, Bilyuchenko, Verner, and their co-conspirators allegedly caused the theft of at least approximately 647,000 bitcoins from Mt. Gox, representing the vast majority of the bitcoins belonging to Mt. Gox’s customers. Bilyuchenko, Verner, and their co-conspirators allegedly laundered the bulk of the bitcoins stolen through Mt. Gox principally through bitcoin addresses associated with accounts Bilyuchenko, Verner, and their co-conspirators controlled at two other online bitcoin exchanges.
“Cryptocurrency offers a new way for criminals to steal and launder money, but greed and deceit are nothing new,” said Chief Jim Lee of IRS Criminal Investigation (IRS-CI). “IRS-CI is specially equipped to follow the complex financial trail left by criminals, and we are dedicated to holding those accountable for crimes committed. IRS-CI is proud to stand with our law enforcement partners to announce this indictment.”
In furtherance of the money laundering scheme, in or about April 2012, Bilyuchenko, Verner, and their co-conspirators allegedly negotiated and entered into a fraudulent contract (the “Advertising Contract”) to provide purported advertising services to a Bitcoin brokerage service based in the Southern District of New York (the “New York Bitcoin Broker”). Under the guise of the Advertising Contract, in order to conceal and liquidate the bitcoins stolen from Mt. Gox, Bilyuchenko and Verner allegedly made regular requests to the owner and operator of the New York Bitcoin Broker to make large wire transfers into various offshore bank accounts, including in the names of shell corporations, controlled by Bilyuchenko, Verner, and their co-conspirators. In accordance with these requests, between in or about March 2012 and in or about April 2013, the New York Bitcoin Broker allegedly transferred more than approximately $6.6 million to overseas bank accounts controlled by Bilyuchenko, Verner, and their co-conspirators. In exchange for the wire transfers, the New York Bitcoin Broker allegedly received “credit” on Exchange-1, through which Bilyuchenko, Verner, and their co-conspirators allegedly laundered more than 300,000 of the bitcoins stolen from Mt. Gox. The fraudulent Advertising Contract with the New York Bitcoin Broker allegedly enabled Bilyuchenko, Verner, and their co-conspirators to conceal and liquidate bitcoins stolen through the Mt. Gox Hack.
Mt. Gox ceased operations in 2014 after the theft was revealed.
Northern District of California indictment
According to court documents unsealed in the Northern District of California (NDCA), Bilyuchenko allegedly worked with Vinnik and others to operate the BTC-e exchange from 2011 until it was shut down by law enforcement in July 2017. During that time period,
BTC-e was one of the world’s largest cryptocurrency exchanges and was one of the primary ways by which cyber criminals around the world transferred, laundered, and stored the criminal proceeds of their illegal activities.
BTC-e served over one million users worldwide, moving millions of bitcoin worth of deposits and withdrawals, and processing billions of dollars’ worth of transactions. BTC-e received criminal proceeds of numerous computer intrusions and hacking incidents, ransomware events, identity theft schemes, corrupt public officials, and narcotics distribution rings.
“The Secret Service has a long tradition of pursuing and bringing to justice those who aim to exploit our financial systems and target innocent victims,” said Special Agent in Charge William Mancino of the U.S. Secret Service’s Criminal Investigative Division. “Working together with our local, state, and federal law enforcement partners, we will continue to investigate criminal organizations that operate in the ever-evolving cyber domain.”
“Homeland Security Investigations (HSI) continues to investigate cyber criminals illicitly operating in virtual spaces, and we are proud to have worked collaboratively with our law enforcement partners to bring these two individuals to justice,” said Acting Executive Associate Director Katrina W. Berger of HSI. “Our special agents continue to investigate transnational criminal organizations operating in emerging technologies, leveraging our broad authorities to identify, and dismantle those behind sophisticated crypto-scams.”
The SDNY indictment charges Bilyuchenko and Verner with conspiracy to commit money laundering. The NDCA indictment charges Bilyuchenko with money laundering conspiracy and operating an unlicensed money services business.
The U.S. Attorney’s Office for the Southern District of New York’s Complex Frauds and Cybercrime Unit is handling the SDNY case. The FBI and IRS-CI are investigating the case and SDNY Assistant U.S. Attorney Olga I. Zverovich is prosecuting the case.
The Corporate and Securities Fraud Section of the U.S. Attorney’s Office for the Northern District of California and the Criminal Division’s Computer Crime and Intellectual Property Section (CCIPS) are handling the NDCA case. The FBI; IRS-CI Oakland Field Office and Cyber Crime Unit in Washington, D.C.; U.S. Secret Service Criminal Investigative Division; and HSI are investigating the case. CCIPS Trial Attorney C. Alden Pelker and NDCA Assistant U.S. Attorney Claudia Quiroz, both members of the National Cryptocurrency Enforcement Team, and NDCA Assistant U.S. Attorney Katherine Lloyd-Lovett are prosecuting the case. The Justice Department’s Office of International Affairs provided invaluable assistance.
A criminal indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.
United States Department of Justice
Russian Nationals Charged With Hacking One Cryptocurrency Exchange and Illicitly Operating AnotherThe Justice Department unsealed charges related to the 2011 hack of the cryptocurrency exchange Mt. Gox and the operation of the illicit cryptocurrency exchange BTC-e.
According to court documents, Alexey Bilyuchenko, 43, and Aleksandr Verner, 29, both Russian nationals, are charged with conspiring to launder approximately 647,000 bitcoins from their hack of Mt. Gox. Bilyuchenko is also charged with conspiring with Alexander Vinnik to operate BTC-e from 2011U.S...
Bitcoin evangelist Joe Hall tells The Agenda why he thinks BTC will conquer the world
Bitcoin has a marketing problem, but journalist and BTC evangelist Joe Hall is doing his best to fix it.
At least, that’s what came to mind for Bitcoin advocate and Cointelegraph reporter Joe Hall when he was asked about the weaknesses and strengths of the popular cryptocurrency.
While not labeling himself a “Bitcoin maximalist,” Hall believes that most people — including crypto OGs — are shockingly unaware of what Bitcoin can do; and for this reason, he questions the necessity and future of most altcoin projects.
“They’re doing it with imperfect solutions that in the long term will rug-pull them or close enough to that. Because, let’s be honest, all of these crypto projects eventually collapse into Bitcoin, or they eventually collapse full stop. I mean, we saw enough of that last year. And, you know, in 10, 15, 20, maybe 40 years’ time, will Bitcoin still be running? 1,000%. Will Ethereum still be running? Question marks. And will the other 20-ish thousand crypto projects still be going strong? I’m pretty confident they won’t be.”
Hall proved his point by asking co-hosts Jonathan DeYoung and Ray Salmond to open up their Bitcoin Lightning wallets to accept the equivalent of $5 in satoshis. And after DeYoung downloaded the wallet and received the payment, both co-hosts were astonished at the speed of the transaction.
Bitcoin evangelist Joe Hall tells The Agenda why he thinks BTC will conquer the worldBitcoin has a marketing problem, but journalist and BTC evangelist Joe Hall is doing his best to fix it.
At least, that’s what came to mind for Bitcoin advocate and Cointelegraph reporter Joe Hall when he was asked about the weaknesses and strengths of the popular cryptocurrency.
While not labeling himself a “Bitcoin maximalist,” Hall believes that most people — including crypto OGs — are shockingly unaware of what Bitcoin can do; and for this reason, he questions the necessity and future of most altcoinhtt...
‘$31K was not the end’ — 5 things to know in Bitcoin this week
Bitcoin analysts are gearing up for a break toward the $30,000 mark, but what will BTC price action offer in the coming days?
Bitcoin starts the second week of June in familiar territory, but a breakout is coming, investors say.
After a calm weekly close, BTC/USD is firmly in its established trading range, while under the hood, market participants are preparing for some dramatic shifts.
It has been a long time coming, and for seasoned traders, the signs are increasingly pointing to volatility making a comeback.
There is little by way of macroeconomic triggers due this week, making the focus shift elsewhere for cues as to what BTC price action might do in the short term.
The on-chain analysis provides other interesting insights, reinforcing the idea that for Bitcoin currently, the only “boring” part is the spot price.
Cointelegraph looks at the key factors at play as BTC/USD hovers around $27,000 for another week.
Read More: https://cointelegraph.com/news/31k-was-not-the-end-5-things-to-know-in-bitcoin-this-week
‘$31K was not the end’ — 5 things to know in Bitcoin this weekBitcoin analysts are gearing up for a break toward the $30,000 mark, but what will BTC price action offer in the coming days?
Bitcoin starts the second week of June in familiar territory, but a breakout is coming, investors say.
After a calm weekly close, BTC/USD is firmly in its established trading range, while under the hood, market participants are preparing for some dramatic shifts....
Cuba Bitcoin community hosts BTC-only meetup
The Cuba Bitcoin community hosted the country’s first-ever Bitcoin-only meetup in Havana over the weekend, attended by 60 crypto-curious Cubans.
Cuba Bitcoin hosted the meetup at the Bitcoin-friendly bar and restaurant Pazillo. Cuba Bitcoin is a lively group of Bitcoin advocates and activists whose discussions on Telegram between anonymous social media accounts that hide people’s identities, had yet to make it into the real world.
Cuba’s foray into Bitcoin signifies a departure from the centralized economic model that has shaped Cuba’s economic progress for decades. Despite limited internet access, financial constraints, and a socialist-styled government, the meetup underscored that Cubans are increasingly turning to crypto as a means of financial freedom and an “exit” from the local economy.
Co-founder of Cuba Bitcoin, Forte11 (not his real name) told Cointelegraph:
“The mission of the meetup is to educate–not convince Cubans about the potential of Bitcoin in Cuba. Each person has the freedom of expression to decide what they want to do. It’s education, education, and education first and foremost.”
Read More: https://cointelegraph.com/news/cuba-bitcoin-community-hosts-btc-only-meetup
Cuba Bitcoin community hosts BTC-only meetupThe Cuba Bitcoin community hosted the country’s first-ever Bitcoin-only meetup in Havana over the weekend, attended by 60 crypto-curious Cubans.
Cuba Bitcoin hosted the meetup at the Bitcoin-friendly bar and restaurant Pazillo. Cuba Bitcoin is a lively group of Bitcoin advocates and activists whose discussions on Telegram between anonymous social media accounts that hide people’s identities, had yet to make it into the real world.
Cuba’s foray into Bitcoin signifies a departure from the centralized economic model that has shaped Cuba’s economic pht...
Bitcoin Will be an Inviolable Right Under Kennedy’s Presidency
Democratic Presidential Candidate Robert F. Kennedy Jr. made a public appearance as a White House contender at the Bitcoin 2023 conference in Miami, Florida. He announced his exciting plans to support Bitcoin as a tool for protecting freedom in the United States.
He disclosed that his support for Bitcoin was reinforced when he saw how the truckers in Ottawa were treated by the Canadian Government. Truckers, who were holding a protest, had their bank accounts frozen. After witnessing the events, Kennedy realized that “free money” is as important as freedom of expression.
Bitcoin as a Right
The presidential candidate believes that cryptocurrencies can be a tool to stop the government’s totalitarian agenda. And as such should be a right that should never be taken away from citizens. Kennedy’s speech highlighted several changes relating to Bitcoin and digital assets.
• To stop the government’s oppressive monetary control, he wants Bitcoin ownership to be an inviolable right.
• Every person should have the right to own crypto private keys, the same way a person has the right to safeguard car keys or physical wallets. The government should not have any right to anybody’s private keys or passwords.
• Kennedy also promised to uphold the right to run a node at home.
• KYC requirements will only be applied to the level of banks or exchanges and not on node levels.
• He is against the current administration’s plan to impose a 30% tax on crypto mining.
• Kennedy wants the United States to remain the global hub for Bitcoin and others. cryptocurrencies. He plans to do this by reversing the hostile treatment of digital assets.
• He advocates for sensible crypto regulations.
• Kennedy believes that Bitcoin is not a security and should be regulated as such.
• The presidential candidate believes in environment-friendly energy sources, but this should not be used as a reason to suppress the crypto industry.
• Considering pardoning Ross Ulbricht, the founder of Silk Road, who received two life sentences for his involvement in crypto
Read More: https://cryptonewsbytes.com/bitcoin-will-be-an-inviolable-right-under-kennedys-presidency/bitcoin/
Bitcoin Will be an Inviolable Right Under Kennedy’s Presidency
Democratic Presidential Candidate Robert F. Kennedy Jr. made a public appearance as a White House contender at the Bitcoin 2023 conference in Miami, Florida. He announced his exciting plans to support Bitcoin as a tool for protecting freedom in the United States.
He disclosed that his support for Bitcoin was reinforced when he saw how the truckers in Ottawa were treated by the Canadian Government. Truckers, who were holding a protest, had their bank accounts frozen. After witnessing the events, Kennedy realized that “free money”...
Bitcoin ‘buys the rumor’ on US debt ceiling as BTC price nears $27.5K
BTC price action could attempt a reclaim of $30,000, analysis says, with Bitcoin climbing through its trading range.
Bitcoin staged a classic range comeback on May 23 as markets “bought” hopes that the United States had resolved the debt ceiling debacle.
$30,000 back on the cards
Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it headed toward $27,500 on Bitstamp overnight.
Still stuck in a familiar trading corridor, the pair nonetheless showed signs of life as news hit that the Biden administration had potentially resolved the debt crisis.
This turned out to be premature, but Bitcoin stayed higher on the day, as market participants hoped that bulls could follow through.
Popular trader Skew eyed various trend lines, including hourly and daily exponential moving averages (EMAs), for cues as to short-term moves.
“Successful bounce from weekly open reclaim into the bounds of 4H EMAs & 1D EMAs,” part of a Twitter update stated.
Read More: https://cointelegraph.com/news/bitcoin-buys-the-rumor-on-us-debt-ceiling-as-btc-price-nears-27-5k
Bitcoin ‘buys the rumor’ on US debt ceiling as BTC price nears $27.5K
BTC price action could attempt a reclaim of $30,000, analysis says, with Bitcoin climbing through its trading range.
Bitcoin staged a classic range comeback on May 23 as markets “bought” hopes that the United States had resolved the debt ceiling debacle....
Bitcoin Dips Below $26,500 Amid US Government BTC Sale Rumors
Bitcoin, the world’s largest cryptocurrency by Market capitalization, has seen a significant dip in its value, dropping below the $26,500 mark amidst rumours of a US government sale of BTC.
Bitcoin has plunged by over 10% in the past week, becoming its second-worst week since its price tapped a 10-month high of $30,000 last month. The latest dip comes amidst rumours that the US government plans to sell a large amount of Bitcoin from its reserves, potentially flooding the market and driving down prices even further.
As ZyCrypto reported, on March 14th, the US government reportedly sold 9,861 Bitcoin, worth approximately $215 million, seized from criminals involved in illegal activities on the Silk Road website. According to a court filing in April, the US government revealed it further plans to sell another 41,490 BTC in connection with Silk Road in four separate batches this year. The online marketplace facilitated illegal activities and was seized by law enforcement agencies in 2013.
Read More: https://zycrypto.com/bitcoin-dips-below-26500-amid-us-government-btc-sale-rumors/
Bitcoin Dips Below $26,500 Amid US Government BTC Sale Rumors
Bitcoin, the world’s largest cryptocurrency by Market capitalization, has seen a significant dip in its value, dropping below the $26,500 mark amidst rumours of a US government sale of BTC.
Bitcoin has plunged by over 10% in the past week, becoming its second-worst week since its price tapped a 10-month high of $30,000 last month. The latest dip comes amidst rumours that the US government plans to sell a large amount of Bitcoin from its reserves, potentially flooding the market and driving down prices even further....
Bitcoin fees plummet 95% as BTC price recovers from US gov’t scare
Bitcoin was not subject to U.S. government selling this week, analysis shows, but BTC price action remains pressured.
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling $27,400 at the time of writing.
The pair had seen a flash sell-off the day prior, briefly taking it to $26,850 after claims that confiscated BTC held by the U.S. government was being sold off.
This was subsequently disproved, but for already sensitive crypto markets, the damage was done.
Among traders, Jackis described the local lows as a “scam” move, while forecasting lower levels to come.
“When the move feels like a scam and trades likes a scam then treat it like it,” he tweeted.
“I do expect a breakdown lower sooner or later. I’m not yet sure how deep but prepared to act quickly if neccessary.”
Fellow trader Anbessa also confirmed that he was looking for further downside, focusing on a target zone around the $25,000 mark.
Read More: https://cointelegraph.com/news/bitcoin-fees-plummet-95-as-btc-price-recovers-from-us-gov-t-scare
Bitcoin fees plummet 95% as BTC price recovers from US gov’t scare
Bitcoin was not subject to U.S. government selling this week, analysis shows, but BTC price action remains pressured.
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling $27,400 at the time of writing.
Bitcoin slides after network congestion leads Binance to briefly halt withdrawals
Bitcoin fell to start the week, extending losses from a sharp drop over the weekend following reports by one of the biggest crypto exchanges in the world about “congestion” on the Bitcoin network.
The price of bitcoin was lower by about 4% at $27,787.05, according to Coin Metrics. It has fallen more than 5% since Saturday. Ether fell more than 3% on Monday to $1,856.87.
“Reports of a large bitcoin outflow and withdrawals being paused at a major exchange could be factoring into some of the weakness we’re seeing. Ultimately however, there haven’t been any major developments as far as price action goes, with bitcoin still very much confined to a multiday bullish consolidation,” said Joel Kruger, market strategist at LMAX Group.
“Only a break back below $25,000 would give reason for concern. Until then, we suspect dips will continue to be very well supported,” he added.
Monday’s drop came after Binance tweeted Sunday that the Bitcoin network was “experiencing a congestion issue” and that it was temporarily closing bitcoin withdrawals as a result until the network stabilized. Some market participants have argued that the Bitcoin network is stable and Binance should have prepared for a high-fee environment on Bitcoin.
Bitcoin slides after network congestion leads Binance to briefly halt withdrawals
Bitcoin fell to start the week, extending losses from a sharp drop over the weekend following reports by one of the biggest crypto exchanges in the world about “congestion” on the Bitcoin network.
The price of bitcoin was lower by about 4% at $27,787.05, according to Coin Metrics. It has fallen more than 5% since Saturday. Ether fell more than 3% on Monday to $1,856.87....
Bitcoin Whale Abruptly Moves Over $450,000,000 in BTC – Here’s Where the Crypto Is Going
A huge crypto whale is moving more than $450 million worth of Bitcoin (BTC) as deep-pocketed investors accumulate BTC.
According to blockchain tracker Whale Alert, the crypto whale moved 15,544 BTC on Wednesday from one unknown wallet to another.
At the time of the move, Bitcoin was trading for nearly $29,000.
The fee for the transaction was nearly $28. The receiving wallet still holds on to the BTC at time of writing.
Whale Alert also spotted the following large transactions of BTC in the past six days.
⚫ 1,500 BTC worth $42.7 million transferred from an unknown wallet to Crypto.com
⚫ 1,213 BTC worth $34.6 million transferred from an unknown wallet to Crypto.com
⚫ 1,679 BTC worth $49.1 million transferred from Bittrex to an unknown wallet
⚫ 726 BTC worth $21.3 million transferred from Binance to Bitfinex
Bitcoin Whale Abruptly Moves Over $450,000,000 in BTC – Here’s Where the Crypto Is Going
A huge crypto whale is moving more than $450 million worth of Bitcoin (BTC) as deep-pocketed investors accumulate BTC.
According to blockchain tracker Whale Alert, the crypto whale moved 15,544 BTC on Wednesday from one unknown wallet to another....
Bhutan has been mining Bitcoin with hydropower since BTC price was $5,000
Bhutan uses Himalayan rivers to generate energy used to mine Bitcoin, local reports reveal.
Bhutan is bullish on Bitcoin. Following therevelation that the small Himalayan kingdom has been quietly accumulating crypto, the country is also mining Bitcoin. Moreover, the country of less than 800,000 people leverages green energy to power its Bitcoin mining operations.
Known for its focus on “Gross National Happiness” and picturesque landscapes, Bhutan has found ways to harness its immense hydroelectric potential, which accounts for 30% of its gross domestic product.
First reported in an exposé in local Bhutanese news and followed by inquiries from Forbes, Bhutanese officials confirmed that mining began when the price of Bitcoin was around $5,000 in April 2019. The price per Bitcoin has since soared to roughly $28,000 per coin at the time of writing.
Read More: https://cointelegraph.com/news/bhutan-bitcoin-mining-with-hydropower-since-btc-price-was-5-000
Bhutan has been mining Bitcoin with hydropower since BTC price was $5,000
Bhutan uses Himalayan rivers to generate energy used to mine Bitcoin, local reports reveal.
Bhutan is bullish on Bitcoin. Following therevelation that the small Himalayan kingdom has been quietly accumulating crypto, the country is also mining Bitcoin. Moreover, the country of less than 800,000 people leverages green energy to power its Bitcoin mining operations....
Bitcoin in Early Stages of Parabolic Rally As BTC Mirrors 2015 Bull Market, According to Top Trader
A widely followed crypto strategist says that Bitcoin (BTC) is likely setting the stage for a steep rally in the coming months as the crypto king shadows a parabolic rally witnessed nearly a decade ago.
Pseudonymous analyst TechDev tells his 409,100 Twitter followers that multiple technical indicators suggest that Bitcoin could be mimicking its 2015 bull market, a cycle that saw BTC rally from less than $200 to $20,000 in about two years.
The crypto analyst shares two charts that show how BTC has been following the 2015 cycle over the last year and a half.
Bitcoin in Early Stages of Parabolic Rally As BTC Mirrors 2015 Bull Market, According to Top Trader
A widely followed crypto strategist says that Bitcoin (BTC) is likely setting the stage for a steep rally in the coming months as the crypto king shadows a parabolic rally witnessed nearly a decade ago.
Pseudonymous analyst TechDev tells his 409,100 Twitter followers that multiple technical indicators suggest that Bitcoin could be mimicking its 2015 bull market, a cycle that saw BTC rally from less than $200 to $20,000 in about two years....
Forget BTC price: The Bitcoin mining boom is quietly going parabolic
Bitcoin difficulty and hash rate stop at nothing in their quest to surge to new levels never seen before.
Bitcoin may be struggling at $30,000, but under the hood, all-time highs of a different kind keep coming.The latest data shows that Bitcoin network fundamentals — difficulty and hash rate — will hit new records this week.
Bitcoin mining difficulty, hash rate refuse to slow down
Bitcoin’s 2023 recovery has been about more than just BTC price action, with miners seeing a significant turnaround of their own.
As BTC/USD added 70% in Q1 alone, pressured mining participants saw some much-needed relief after the bear market squeezed profit margins to practically zero.
The comeback for miners is evident in difficulty, which among other things, reflects competition for block subsidies.
This has made new all-time highs for the past two months, and this week will be no exception. According to data from BTC.com, the difficulty will increase by approximately 2.1% on April 20, reaching 48.91 trillion.
The dizzying tally is a full 13 trillion higher than at the start of the year alone.
Read More: https://cointelegraph.com/news/forget-btc-price-the-bitcoin-mining-boom-is-quietly-going-parabolic
Forget BTC price: The Bitcoin mining boom is quietly going parabolic
Bitcoin difficulty and hash rate stop at nothing in their quest to surge to new levels never seen before.
Bitcoin may be struggling at $30,000, but under the hood, all-time highs of a different kind keep coming.The latest data shows that Bitcoin network fundamentals — difficulty and hash rate — will hit new records this week.
Bitcoin sparks liquidations as analyst says BTC price may dip 12% more
Bitcoin loses 3% on the day, with the start of Wall Street trading failing to rescue BTC’s price from the loss of $30,000.
Bitcoin’s price tipped for a break below $29,000
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD wicking to $29,247 on Bitstamp — its lowest in a week.
Gains for Asian stocks failed to rescue the losses on the day, these beginning immediately after the April 16 weekly close.
Traders, many of whom had predicted a retest of $30,000 support, were unsurprised, with many hoping that the event would form a “buy-the-dip” opportunity before Bitcoin moved higher.
Popular trader Crypto Ed said that BTC/USD had “swept the lows,” while others focused on the area around $28,500 as a potential bottom zone.
Read More: https://cointelegraph.com/news/bitcoin-sparks-liquidations-as-analyst-says-btc-price-may-dip-12-more
Bitcoin sparks liquidations as analyst says BTC price may dip 12% more
Bitcoin loses 3% on the day, with the start of Wall Street trading failing to rescue BTC’s price from the loss of $30,000.
Large Bitcoin Investor Sent $330M in BTC to Bitfinex Exchange Before Price Dropped Below $30K: Blockchain Data
The bitcoin "whale" was the 14th largest bitcoin holder until mid-March, controlling $1.2 billion in BTC, according to BitInfoCharts.
A large bitcoin investor sent some $330 million in bitcoin (BTC) to crypto exchange Bitfinex on Wednesday, according to blockchain sleuth Lookonchain.
According to Bitcoin blockchain data, the bitcoin "whale" transferred 11,000 BTC tokens to a Bitfinex wallet at a BTC price of $30,114.
Whales are crypto investors who control large amounts of digital assets. Their purchases and sales can have a sizable impact on markets, thus crypto watchers closely follow their behavior to anticipate market movements.
Read More:
Large Bitcoin Investor Sent $330M in BTC to Bitfinex Exchange Before Price Dropped Below $30K: Blockchain Data
The bitcoin "whale" was the 14th largest bitcoin holder until mid-March, controlling $1.2 billion in BTC, according to BitInfoCharts.
A large bitcoin investor sent some $330 million in bitcoin (BTC) to crypto exchange Bitfinex on Wednesday, according to blockchain sleuth Lookonchain....
Bitcoin Approaches $30K, Reaching Highest Price Since June
The roots of an hour-long surge were difficult to pinpoint, according to one analyst, but investors have recently been more optimistic about the crypto’s prospects following last month’s banking crisis.
For a while Monday, even as large parts of the world were off work celebrating Easter Monday, bitcoin (BTC) seemed headed for a promised land above $30,000.
The largest cryptocurrency by market capitalization, which just three weeks ago had teased a run toward this threshold, topped $29,744 in the afternoon, its highest level since early June, amid a surge in investor optimism. But the cause of the move was difficult to pinpoint. It was currently trading at $29,616.
From about 10 a.m to 11 a.m. ET (14:00-15:00 UTC), bitcoin rose nearly 4%. It had been lingering closer to $28,000 since mid-March, when fears about the conventional banking system began to diminish.
Full Article: https://www.coindesk.com/markets/2023/04/10/bitcoin-approaches-30k-reaching-highest-price-since-june/
Bitcoin Approaches $30K, Reaching Highest Price Since JuneThe roots of an hour-long surge were difficult to pinpoint, according to one analyst, but investors have recently been more optimistic about the crypto’s prospects following last month’s banking crisis.
For a while Monday, even as large parts of the world were off work celebrating Easter Monday, bitcoin (BTC) seemed headed for a promised land above $30,000.
The largest cryptocurrency by market capitalization, which just three weeks ago had teased a run toward this threshold, topped $29,744 in the afternoon, its highest level since ea....
Bitcoin breakout ‘matter of time’ says analysis with BTC price at $28K
Bitcoin will make a decision sooner rather than later, according to cues from the Binance order book.
“Watch for rugs” on BTC
Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it lingered around $28,000 on Bitstamp.
The weekend had finished on an erratic note as news of an OPEC+ oil production cut sent crypto tumbling before a rebound during the Asia trading session.
Amid a lack of clear direction, monitoring resource Material Indicators flagged significant liquidity on either side of spot price on the Binance order book.
“We still don’t have a confirmed breakout or breakdown, only rejected attempts which have kept price chopping in this range,” part of fresh Twitter commentary added.
Read More: https://cointelegraph.com/news/bitcoin-breakout-matter-of-time-says-analysis-with-btc-price-at-28k
Bitcoin breakout ‘matter of time’ says analysis with BTC price at $28K
Bitcoin will make a decision sooner rather than later, according to cues from the Binance order book.
