Bitcoin exchange BitMEX leaked thousands of user emails, say reports – Decrypt

Bitcoin futures exchange BitMEX, known for offering 100x leverage trading, accidentally exposed thousands of user emails today by mistakenly using the wrong email tool. Instead of using blind carbon copy, it used carbon copy, for multiple emails sent to a large portion of its user base, each containing thousands of user emails, according to reports.

In a statement, BitMEX said, "We are aware that some of our users have received a general user update email earlier today, which contained the email addresses of other users."

"Our team have acted immediately to contain the issue and we are taking steps to understand the extent of the impact. Rest assured that we are doing everything we can to identify the root cause of the fault and we will be in touch with any users affected by the issue," it added.

We have reached out to BitMEX and will update this story if we hear back.

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It appears that the email list was divided into groups, with some users receiving one portion of user emails, and others receiving a different portion. As a result, some commentators argued that hackers will try to piece the portions together to get the complete database of leaked emails. The end result could be a swathe of phishing attempts, where hackers pretend to be real users by using their identity information.

Jake Chervinsky, general counsel at Compound Finance, tweeted, "[T]his kind of thing is a massive privacy breach with potentially serious consequences -- the last thing a derivatives exchange needs to deal with during a CFTC investigation."

Only a few months ago, Binance revealed that some of the know-your-customer documents it had stored with a third party had been stolen, and were being released publicly. It offered 300 bitcoins as a reward for information on the hacker. Binance has also witnessed two phishing attacks in its past.

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Bitcoin exchange BitMEX leaked thousands of user emails, say reports - Decrypt

Anonymous Bitcoin Price Prediction Finally Poised to Fail – BeInCrypto

On January 21, 2019, an anonymous user made a series of future Bitcoin price predictions.

The user successfully called the December 2018 bottom. Also, the succeeding two predictions, which stated that the price will be $5300 and $9200 in April and July, respectively, were validated.

The third one, however, stated that the price will reach $16,000 in October. Since today is October 31, it is an interesting time to see if it is possible for this prediction to be validated.

Cryptocurrency trader @thecryptodog stated that a massive flow of cash will enter Bitcoin today, validating the prediction.

While the tweet seems sarcastic in nature, lets see if there is any chance, however slight, that it will be validated.

In order for the prediction to be validated, an increase of roughly 78 percent would be required.

During the past two years, the three dates with the highest daily rate of increase have been:

Even going further back, when the volume was significantly lower than what it is today and allowed for more volatile price movement, the highest daily rates of increase have been

While the 55 percent rate of increase in November 2017 comes close, all the other highest rates have been less than half of what is required to reach $16,000.

Considering that there are significant resistance areas above, and the movements are less volatile now than in 2013, it is probably safe to say that the prediction will be invalidated by tomorrow.

Disclaimer: This article is not trading advice and should not be construed as such. Always consult a trained financial professional before investing in cryptocurrencies, as the market is particularly volatile.

Images courtesy of Twitter, TradingView.

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Anonymous Bitcoin Price Prediction Finally Poised to Fail - BeInCrypto

How Bitcoin Can Solve The Dollar Depreciation Disaster – newsBTC

The signals are strengthening as the winds of economic change blow harder. A global economic slowdown has already begun as central banks scramble to prop up their economies by printing more money. The last financial crisis was caused by banks and it is highly likely theyll be responsible for the next one.

Just over a decade ago the world was plunged into the largest financial crisis since the 1920s. The US banking system single-handedly collapsed the world economy by over lending to cover derivatives trading. It took years to recover but it seems like the economic skies are darkening again.

Last week the US Federal Reserve reduced interest rates for the third time this year. The move is largely to encourage spending and borrowing while discouraging saving. For President Trump, however, this is not enough as he wants negative interest rates.

In another typical Trump tirade the POTUS blasted the FED again late last week stating that the central bank is a bigger economic threat than China, which is having its own banking problems.

The Fed has called it wrong from the beginning, too fast, too slow. They even tightened in the beginning. Others are running circles around them and laughing all the way to the bank. Dollar & Rates are hurting

Most economists are in agreement that Trumps war on trade with China has caused more damage to the US economy than high interest rates.

With the FED creating more money the dollar value deflates even further. Since 1913 the greenback has plummeted in value. According to research, back then a person with $100 could buy the same amount of food, clothing, and other necessities as $2,529 would buy today.

Former congressman and Bitcoin bull Ron Paul also took a swipe at the current banking system adding;

The dollars that you work hard for are always buying less and less, yet the government tells you theres not enough inflation. The Fed is a government-created monopoly that counterfeits dollars by the trillions, and youre supposed to believe that this is capitalism.

Bitcoin, with a predetermined supply, immunity from central bank meddling, and decentralization from any state or nation makes it the perfect solution for this problem. In theory Bitcoin would become the worlds currency giving the control back to the people, not the banks. A massively flawed banking system was the catalyst that spawned Bitcoin in the first place. As Satoshi Nakamoto wrote himself;

Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve.

The banks of the world are starting to take measures to prevent another 2008, but the writing could already be on the wall. Bitcoin does solve this as it was designed to.

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How Bitcoin Can Solve The Dollar Depreciation Disaster - newsBTC

Uber used Bitcoin to pay $100K hacker ransom in 2017, court docs confirm – The Next Web

Uber used Bitcoin to pay hackers who held sensitive data for ransom, court documents have confirmed.

As a result, two men pleaded guilty to charges ofcomputer hacking and extortion, bringing a lengthy legal saga that embroiled Uber and LinkedIn-owned training site Lynda.com in costly data breaches to a close.

To access the companies servers, the hackers gained access to customer information by using Amazon Web Services logins belonging to Uber and Lynda.com employees.

They then contacted both companies to extort them for hundreds of dollars worth of Bitcoin.

At the time, Uber agreed to pay $100,000 in the cryptocurrency. The payment was processed via the tech giants HackerOne bug bounty program, and Uber required the hackers to sign a confidentiality agreement preventing them from using the data and publicly disclosing the security breach.

Vasile Mereacre, from Canada, and Brandon Glover, from Florida, wereindicted last year after stealing information of 55,000 accounts from Lynda.com, which unlike Uber, refused to pay.

It was then revealed that both men were also the perpetrators of a 2016 Uber breach that compromised the data of 57 millions users.

Uber kept the security breach private for over a year, until November 2017, when its new leadership became aware of the cover-up and decided to go public.

As a result, the company received a hefty $148 million fine and had to agree to 20 years of privacy audits.

Uber also fired its chief security officer Joe Sullivan, who orchestrated the payments and failed to alert company users about the security breach.

Published November 1, 2019 15:04 UTC

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Uber used Bitcoin to pay $100K hacker ransom in 2017, court docs confirm - The Next Web

Cryptocurrency market update: Bitcoin, Ethereum and Ripple get ready the weekend action – FXStreet

Bitcoin has remained relatively unchanged from the time the price prediction was published. Besides, the entire market is lethargic and showing signs of longer consolidation periods. The few conspicuous cryptos in the green are Stellar (XLM) and Chainlink (LINK).

Bitcoin is struggling to hold above $9,100 (short-term week support). The buyers are looking forward to breaking above $9,200. However, the prevailing selling pressure coupled with the high volatility suggests thatBitcoin is likely to trend towards $9,000.

Meanwhile, Bitcoin is trading at $9,110 and battling the resistance at the 50 Simple Moving Average (SMA) on one-hour chart. The 100 SMA together with the descending trendline is in line to limit movement as well.

Ethereum, on the other hand, is working hard to stay above $180. Despite the high volatility levels, the price has only managed to touch highs of $183.28 and lows of $180.65. This shows that bulls are present and only hat they lack a catalyst or a technical breakout to push Ether to higher levels.

The one-hour chart shows support emanating from the ascending trendline. Like Bitcoin, Ethereum is in consolidation ahead of the weekend session.

Ripple is also stuck in a narrow range between $0.29 and $0.30. The upside is capped by the 50 SMA on the 2-hour chart. Moreover, rapid movements can be expected on either side as the Relative Strength Index (RSI) is moving horizontally beneath 50. The 61.8% Fib retracement level continues to offer support. The risk of approaching $0.25 support is quite high.

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Cryptocurrency market update: Bitcoin, Ethereum and Ripple get ready the weekend action - FXStreet

Bitcoin Is Approaching the Optimal Buy Zone, According To Analyst – BeInCrypto

The sudden popularity regarding blockchain technology in China is exciting. However, these positive stories arent having the expected effect on Bitcoins price.

For example, the China Merchants Bank has recently announced that it has made an investment in the crypto wallet BitPie, arguably one of the most popular wallets used by Chinese investors. Even though the company operates out of Australia, it has deep roots in Beijing.

However, Bitcoins price may soon start heading upward. According to our analysis, BTC is likely to make a final downward move before resuming its uptrend.

Crypto trader @davthewave stated that according to a fractal which successfully predicted the December 2018 bottom, Bitcoin will continue decreasing for a few more weeks.

According to the chart, the Bitcoin price will make a bottom around $6500 by the end of November, right at the 0.5 fib level of the entire upward move beginning in December 2018.

Lets take a closer look at this movement.

Looking at the logarithmic chart for the Bitcoin price movement since 2011, we can use curved trendlines to connect each top and bottom.

As we can see, while BTC touched the support line in December 2018, it has not reached this since.

This has not been the case in previous accumulation phases after a long bearish market, in which the price consistently traded near it before eventually beginning an upward move.

The support line is currently near $6500.

If we make a comparison with dates of halving (vertical lines) the price is likely to decrease once more to the support line, consolidate close to it, before eventually beginning an upward move.

This final decrease fits with the fractal presented by @davthewave and the movement of the moving averages (MA). The decrease would cause the 100-week MA to do the same, causing a bearish cross rejection a short-term before halving, similar to what transpired during the 2016/2017 movement.

Disclaimer: This article is not trading advice and should not be construed as such. Always consult a trained financial professional before investing in cryptocurrencies, as the market is particularly volatile.

Images courtesy of Twitter, TradingView.

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Bitcoin Is Approaching the Optimal Buy Zone, According To Analyst - BeInCrypto

Bitcoin Just Hit $1 Billion in All-Time Transaction Fees – CoinDesk

On Oct. 30, 2019, the bitcoin blockchain reached $1 billion in cumulative transaction fees.

This milestone is a really cool milestone just because it shows how much people value block space, said Bryan Aulds, founder of bitcoin wallet Billfodl. And that its something people dont mind paying for, which I think is really important moving forward.

According to data from blockchain analytics startup BlockChair, the amount of bitcoin transaction fees collected annually has actually decreased in recent years. This is due to the advent of scaling solutions on bitcoin including Segregated Witness and the Lightning Network.

And while the cumulative amount of bitcoin transaction fees converted to USD amounts to roughly $1 billion, the amount is actually much larger if you consider the market value of bitcoin today. According to Coin Metrics data, 204808.3479 BTC has been doled out in transaction fees to miners since 2009. At todays price, thats equivalent to $1.86 billion.

The cumulative size of transaction fees on the bitcoin network is only set to grow larger in the coming years especially as alternative mechanisms for rewarding miners such as block subsidies gradually decline.

Over the long run, the transaction fees will eventually have to replace the block [subsidy], said Jameson Lopp, CTO of bitcoin management startup Casa. Theres a reason why its called the block subsidy in the code. Its because it is subsidizing the security of the network, adding:

The understanding all along is that this subsidy via inflation will have to be replaced by the people who are paying to use the network via transaction fees.

Stepping back, transaction fees play three key roles on the bitcoin blockchain all of which serve to secure the integrity and censorship-resistance of the network.

First, attaching fees to bitcoin transactions discourages denial of service attacks, also called spam attacks, from slowing down the network.

When you create a transaction, youre able to use bandwidth and write data onto the hard drive of anyone running a node on the network, said Lopp. If theres no cost to doing that then you can saturate everyones bandwidth and fill up everyones hard drive.

Second, fees serve to prioritize which transactions get confirmed and written onto blocks faster than others.

David Steinberg, VP of crypto mining consultancy Navier, said:

Its very simple: you pay more, you get your transaction accepted more quickly. So that mechanism is a fair way to participate in a pending transaction pool.

Finally, and perhaps most importantly, transaction fees also ensure transaction finality. Coupled with the bitcoin block subsidy which yields 12.5 BTC per block and decreases by 50 percent every four years transaction fees incentivize bitcoin miners from purposefully stalling or editing the blockchain.

Without this monetary incentive, miners could easily be bribed by malicious actors to unfairly withhold all or certain transactions from being committed to the blockchain.

In aggregate, the transaction fees plus the block subsidy provide for the probabilistic transaction finality of the bitcoin system, said Pierre Rochard, founder of consultancy startup Bitcoin Advisory, adding:

The greater this finality is, the less time transactors have to wait before having confidence that the transaction will not be censored or double-spent.

We have another 10 to 13 years of decent subsidies left before it drops away to pretty negligible amounts, said Billfodls Auld.

When this happens, miners will have to start adjusting profitability measures around the comparatively more volatile values of transaction fees as opposed to block subsidies.

You have to start thinking more about the game theory around miner profitability and what would happen if the profitability of a miner becomes a lot more volatile from hour to hour, day to day, said Lopp. For example, we already know there are both daily and weekly cycles of demand for block space.

Bitcoin image via Shutterstock

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Bitcoin Just Hit $1 Billion in All-Time Transaction Fees - CoinDesk

Bitcoin: The Calm Before Its Next Wave Higher – Seeking Alpha

Source: Techcentral.com

Roughly 24 hours after putting out my latest "Bitcoin Likely Bottoms Again" article, Bitcoin and many other alt-coins surged rapidly. Bitcoin (BTC-USD) was at around $7,400 when I wrote my last article, now we're looking at Bitcoin $9,400, with a top of nearly $10,400 in between.

Source: Binance.com

That is an extraordinary 42% gain from trough to peak in a very short time frame. However, now Bitcoin is quiet again, trading between $9K-$10K. Is this another calm before the next move higher?

I believe so. It appears that Bitcoin is consolidating here and is setting up for another move higher. Also, it's not just Bitcoin. There are several other promising alt coins to look at.

China is becoming more Bitcoin friendly

Source: CNBC.com

Just to be clear, this is only part of the reason why Bitcoin surged recently, but it is likely the most prominent one at the moment. So, it is worthy of discussion.

President Xi recently expressed praise for blockchain technology, saying that China should "seize the moment" when it comes to blockchain. In fact, China's central bank has been working on creating its own digital currency.

This appears to be a net positive for Bitcoin and other systemically important coins as it essentially weakens the dollar's global dominance and should help boost digital currencies into the mainstream sooner than anticipated. Simultaneously it also should reflect positively on digital asset prices.

Moreover, due to the limited supply of Bitcoin and other mineable digital assets, demand should increase and owners could become governments, not just individuals and institutions. In fact, the U.S. government is reportedly one of the largest holders of Bitcoin already.

Source: Bitcoincharts.com

Bitcoin's latest wave higher essentially began around at the start of this year. Yes, we had a rapid rise from about $3,200 to nearly $14,000. However, this rapid spike was partially influenced by the Libra-induced craze which thus far has failed to materialize due to U.S. government and Fed intervention.

Therefore, it's not a surprise that BTC had a correction of nearly 50% after the Libra surge, and veterans in the Bitcoin market have seen similar "corrections" in previous up waves.

The important factor is that we are only about 10 months into the latest wave, and this could be akin to something like a second inning of a very long ball game. In other words, Bitcoin is likely to go much higher before this multi-year wave is over.

I've mentioned in prior articles why the current wave is likely to last several years, and could drive BTC's price up to roughly $76-$100K, before the next bear market arrives. Conservatively speaking Bitcoin could be trading between $50K-$100K within the next 2-5 years.

Now, I know everybody is talking about Bitcoin and roughly 50-60% of my digital asset basket is usually allocated to Bitcoin. But I want to talk about some Altcoins that still look relatively cheap, have substantial growth potential going forward, and are likely to outperform Bitcoin percentage wise in the future.

Source: NewsBTC.com

1. LiteCoin (LTC-USD) - A great transactional as well as a store of value coin. It's sometimes referred to as the silver to Bitcoin's gold, but it's far more efficient when it comes to transacting.

I believe many people refuse to or don't understand/believe that cryptocurrencies will be the medium of exchange/transactional vehicles of choice for many people in the future. Nevertheless, I'm convinced that they will due to their efficiency, decentralized nature, and extreme compatibility with internet technology.

So, back to LiteCoin. LTC also had a nice bounce back of 20%, but it still looks relatively cheap and is likely headed much higher. LTC is still down by roughly 85% from its all-time high in late 2017.

Source: Coinmarketcap.com

Source: Coincentral.com

2. XRP (XRP-USD), despite its 30 cent price tag, XRP is the No. 3 coin by market valuation. Now, this is not a true, mineable cryptocurrency like Bitcoin, LiteCoin and others I will be discussing, but I believe it has a place in a diversified cryptocurrency portfolio.

XRP is primarily used by banks and other financial institutions to make interbank transactions faster, cheaper, more efficient, etc. This coin is essentially created for this purpose, and its price could explode much higher in the future. In fact, it's likely that over 200 banks and other financial institutions will be using XRP by the end of this year.

XRP is still down by around 91% from its all-time high. Nevertheless, I'm more a fan of transactional coins, so let's take a look at some of the likeliest to succeed going forward.

Some of my favorites digital medium of exchange vehicles include, Dash (DASH-USD), Zcash (ZEC-USD) and Monero (XMR-USD).

Source: Hacked.com

3. Dash is promising because it's built on a very solid platform, has a high level of encryption, and may be widely adopted much like LiteCoin as a worldwide medium of exchange instrument. Remarkably, Dash is still down by 95% from its all-time high reached in late 2017/early 2018.

Source: CCN.com

4. Zcash is very similar to Dash but is even more encrypted (thus more difficult to trace), is efficient, low cost, and can handle a large quantity of transactions much like Dash and LiteCoin. Likewise, Zcash is still down by more than 95% from its high in late 2017/early 2018.

Source: Nulltx.com

5. Monero's encryption level makes it essentially impossible to track or trace based on the available information. Thus, it's the king of anonymous coins. There's a market for such coins now, and it will become much bigger in my view going forward. Monero is still down by roughly 88% from its high in early 2018.

It is not too late to get into Bitcoin as well as into a lot of alt-coins with enormous long-term potential. Many are still down by 95% or more since their all time highs, and they will likely return to much higher levels in time.

Nevertheless, I still believe that no more than 50%-40% of a cryptocurrency basket should be allocated to alts, and the entire basket may only represent a fraction of a diversified portfolio.

Depending on your risk tolerance, roughly 5%-20% could be allocated to digital assets, in my view, and most of that should probably be in Bitcoin right now. Also, for most investors 5%-10% should be enough, but there are some with higher risk tolerance and more risk appetite that may want to allocate more.

For more detailed information regarding Bitcoin, altcoins, and how to integrate them into a modern portfolio, please visit here.

Potential Risks to Consider

Possibly the No. 1 long-term threat Bitcoin faces is detrimental government regulation or an all-out Bitcoin ban. If major Bitcoin-friendly governments like the U.S., E.U., Japan, South Korea, and others follow the footsteps of China and essentially make Bitcoin use and trading illegal, it could have catastrophic consequences for Bitcoin's price.

Continued Functionality Issues

Another risk factor is the concern that Bitcoin may never become a widely-used transactional currency due to its issues with speed, cost, and scale. Yes, the Lightning Network promises to solve many of the issues associated with speed, cost, and scale, but there's no guarantee that the LN will become widely adopted, even over time.

Therefore, there's the risk that newer and more efficient digital currencies like Litecoin, Bitcoin Cash, and others may make Bitcoin somewhat obsolete as an actual medium of exchange for the masses.

Continued Security Breaches and Fraudulent Activity

Continued security breaches in the Bitcoin world concerning exchanges and individual wallets are a constant concern. If significant breaches continue, investors and users may start to lose confidence in the system and demand could decrease as well.

Likewise, there are fraud cases. In an industry that's still loosely regulated, substantial fraudulent activity is a persistent risk factor. Just like with security breaches when people get ripped off, it reflects poorly on the entire industry and demand along with prices can suffer.

Want to know more? If you would like full articles that include technical analysis, trade triggers, portfolio strategies, options insight, and much more, consider joining Albright Investment Group!

Disclosure: I am/we are long BTC-USD, BCH-USD, LTC-USD, DASH-USD, ZEC-USD, XMR-USD, BTG-USD, XRP-USD. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Additional disclosure: This article expresses solely my opinions, is produced for informational purposes onlyand is not a recommendation to buy or sell any securities. Please always conduct your own research before making any investment decisions.

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Bitcoin: The Calm Before Its Next Wave Higher - Seeking Alpha

As Bitcoin Price Drops To $9K, Here Are the Targets Traders Are Watching – newsBTC

Bitcoin price continues to fall after a massive surge late last week sent the price of the first-ever crypto asset skyrocketing, blasting through resistance and revisiting five-digit prices briefly before it began to cool off.

Now, Bitcoin is flirting with a drop below $9,000, but thus far $9,000 has provided strong support. Here are the price levels crypto traders are watching in case Bitcoin falls below $9,000 or if it bounces from current prices.

Bitcoin price is currently trading in the low $9,000 range after a powerful push to above $10,000 was stopped short of setting a new, higher high.

Late last week, news broke that Chinese President Xi Jinping urged the citizens of China to support the development of blockchain technologies to ensure the country is at the forefront of innovation.

Related Reading | Chinese Interest in Bitcoin Remains High Post Crypto Rally According to Data

When Satoshi Nakamoto first created Bitcoin, they didnt just create the worlds first decentralized digital currency, he or she also created the distributed ledger technology the asset operates on. This technology, is called blockchain, and can be applied to a number of industries to streamline operations, remove the need for trusted third parties, and to improve efficiency and transparency.

While Xis comments are in favor of blockchain, and the country was quick to clarify that the support was for blockchain and not cryptocurrencies, the price of Bitcoin still surged and Chinese altcoins followed, all spiking 40% or more in a matter of a couple of days.

But once the buzz cooled off, so did the price of these key crypto assets. Bitcoin has fallen from highs around $10,500 to a recent local low of $8,850, before making another attempt at $10,000 that fell short to the target, and fell back downward to retest lows.

But Bitcoin seems to have found support at $9,000, and despite a few attempts to break below it, bulls have been able to defend the level thus far.

Bitcoin is once again at a critical junction. While the momentum and trend almost certainly appeared to be down, the recent move has revived confidence in bullish traders.

For Bitcoin to be truly bullish, it must reclaim resistance above $9300 to $9600 for a chance to push higher. If BTC is forming a bull flag, and the level is breached, then a retest of recent highs near $12,000 and higher could in the cards. A breach of those levels puts a new all-time high on the table.

However, if the recent move proves to be nothing more than a retest of the descending triangle Bitcoin broke down from, then further downside may be possible. Bitcoin would need to fall through former resistance turned support from $8500 to $8800 before new lows could be considered.

Related Reading | Not So Fast Bulls: Latest Bitcoin Pump May Be Wyckoff Distribution Throwback

If Bitcoin price drops further into its downtrend, then lows of $5,800 could be tested as support. The price level also coincides with a convergence of Bitcoins downtrend channel, and a diagonal support line from Bitcoins bottom in December 2018. This area is a potential for a final low or bottom to be in of the recent downtrend before Bitcoin rebounds back into a bull run. However, if this trendline breaks, chances of $3,100 not actually being the bottom becomes a reality that all crypto investors must face.

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As Bitcoin Price Drops To $9K, Here Are the Targets Traders Are Watching - newsBTC

BTC Bears Are Back, Bitcoin Slowly Weakens as Altcoins Beat a Retreat – newsBTC

Bitcoin has managed to hold on above $9,000 for another day but it is slowly weakening and likely to drop below that support level by the weekend. The altcoins meanwhile are already sliding further and may well dump all recent gains.

The pattern is pretty clear when looking at the Tradingview charts. A down trend has formed on the week and Bitcoin is slowly losing ground as it slides back towards $9k this Halloween day. The highest it could manage over the past day is $9,250 and a couple of hours ago BTC dropped to its intraday low of $9,050 for the second time.

BTC price 1 hour Tradingview.com

Lower highs and lower lows indicate a continuation of this trend in the short term. Trader and analyst Big Chonis has been doing the TA

Yesterdays daily candle had a nice bounce reaction to the MA200, todays current bitcoin follow up looks to retest again, RSI drifting into mid 50s, MACD with another lower high with volume continuing to decline, so far nothing says $9K is strong support just yet

The bearish sentiment is starting to return to crypto twitter as analysts start to agree that down is more likely than up. Credible Crypto added that a fall back to the low $8,000 level is likely.

Either way I expect 8600-8800 to be hit sooner or later and if we clear the lows now I ultimately expect 8000-8200 to be met.

China fever is waning and it is back to business on Bitcoin markets which were heading downwards before the huge weekend boost.

Ethereum has declined by 2.5% over the past 24 hours as it drops back to $185. ETH really needs to keep hold of these gains to prevent an eventual collapse to $150. There has been no indication that it is ready to break free from the shadows of its big brother though.

XRP just cant break over $0.30 and has fallen back below it again today as the Ripple token loses 2%. Bitcoin Cash has also dropped 2% but it has been very bullish over the past week holding on to most of its gains. BCH is currently trading just below $290 but is primed to fall if BTC does.

Litecoin and Binance Coin are flat, hovering around $60 and $20 respectively while EOS is dumping again in another 3% fall. Following its Samsung induced pump yesterday, Tron is dumping today as a 7% slide drops TRX back to $0.020.

Around $5 billion has exited crypto markets over the past 24 hours as total capitalization falls to $245 billion. Markets are still up $40 billion on the same time last week but the bears are slowly returning and those gains are starting to erode.

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BTC Bears Are Back, Bitcoin Slowly Weakens as Altcoins Beat a Retreat - newsBTC