CBX Weekly Newsletter // 22 July 2020
- Bitcoin Breaks Bullish!
- Twitter and Bitcoin Hacked!
- Get FREE AWG Tokens This Week!
Bitcoin Breaks Bullish!
Bitcoin has shown Bullish momentum recently after climbing over 3% on Tuesday. This is notable because of the lack of volatility in the space since the Covid-19 sell-off in markets earlier this year.
The chart shows the cryptocurrency has broken higher from the four-week-long narrowing price range. The breakout is backed by the MACD histogram printing higher bars above the zero line, a sign that the upward move may be heading soon.
Acceptance above $9,500 would confirm a breakout on the daily chart and may yield a rally to $10,000.
The bias would turn bearish if the cryptocurrency finds acceptance under $9,000. However, sellers have failed multiple times in the last two months to establish a foothold below that psychological support.
Ethereum is also gaining momentum in the market, usually when there is a Bullish run in the industry Alt-coins grow more relative to BTC, so it’s good to keep an eye on that.
Twitter and Bitcoin Hacked!
On July 15th, a hacker — or hackers — gained control of a series of Twitter accounts owned by Bitcoin enthusiasts, executives and exchanges; Including high-profile celebrities such as Elon Musk or Kanye West.
Upon gaining control of those accounts, the hackers tweeted messages to those accounts’ audiences claiming that they would be “giving 5000 BTC back to the community” and directing users to cryptoforhealth.com.
People who visited the now-defunct website were told that if they sent Bitcoin to a specified address, they would receive double the amount in return.
How much did the hackers get away with?
The value of the hackers’ final takings aren’t known at the moment. Early on, people monitoring the address specified in those celebrity tweets saw that it was the recipient of nearly $60,000 in Bitcoin transfers.
At time of writing, the total amount sent to the address in question stands at 12.86874316 BTC, or $118,995.75.
CEO of Twitter, Jack Dorsey said it was a “bad day” for Twitter.
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