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Bitcoin (BTC) Could Flash Crash To $3,000 Before A Breakout To The Upside

Bitcoin (BTC) has dropped more than 80% from its all-time high which means there is not much room for further downside here. Even if the price drops further, it is very likely to find a bottom between $2,000 and $3,000. The last time BTC/USD crashed, the price was trading inside a descending triangle. This time the circumstances are slightly different as the price is trading in an ascending triangle. A lot of analysts and investors take it as a sign of trend reversal which means BTC/USD will revert to mean when it breaks above this triangle and rises towards the...

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Former Mt. Gox Boss Set To See Jail Time This Friday

The 33-year-old Mark Karpeles is the former head of collapsed Bitcoin exchange, Mt. Gox and is about to learn his fate at the end of this week. The Tokyo court will hand down their verdict on charges of faking digital data and embezzling millions of dollars. The prosecutors against Karpeles have called that he serves a ten-year jail sentence although the former head denies all the charges. Allegedly, the French-born Karpeles has manipulated computer data on several occasions over multiple years while embezzling a total of $3 million of the clients’ finances they deposited to the company. The charges claim...

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MIT Panel Discusses Proprietary Firmware As Security Risk For Bitcoin Users

The 2019 MIT Bitcoin Expo happened over the weekend, and the event featured a panel discussion around blockchain attack vectors and bitcoin security. This panel was moderated by Arwen CEO Sharon Goldberg, and the panelists were Bitcoin Core contributor Cory Fields, Digital Currency Initiative Undergraduate Researcher James Lovejoy, and Chaincode Labs Software Engineer Carl Dong. Bugs at the Lower Levels During a conversation around specific vulnerabilities that have popped up in the cryptocurrency space over the years, Dong pointed out that people need to be on the lookout for bugs in areas other than cryptocurrency-related software. Specifically, Dong noted that...

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How This BTC Mining Firm Could Spark Growth

There are many people out there that refer to Bitcoin as ‘digital gold’ and if it is such a thing, investors may be better off looking for a way to mine it instead of outrighting buying it. Traditional mining companies are great proxies for their underlying commodity. Oil drilling and lithium mining firms around the world have a simple but effective business strategy which is to deploy the cash to set up a mining infrastructure, hire miners, extract and ship. If the costs of mining fall and the market price of the commodity increases, this will result in the prices...

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Bitcoin (BTC) Shorts Begin To Pile Up As Bulls Give Up Once Again

Bitcoin (BTC) shorts have once again started to pile up as the bulls have lost control once again. This is all for the best as BTCUSDShorts would now be able to test the trend line resistance. If it faces a rejection at that level, we should see a rise in BTC/USD. We expect that to happen this week as BTC/USD has to make one last move to the upside before the correction to the downside can begin. Before this move to the upside, the probability of a fall in BTC/USD remains very low. The daily chart for BTCUSDShorts shows that...

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