Apple Is Right to Refuse to Help the FBI Hack into iPhones – National Review

A customer compares an iPhone XS and iPhone XS Max at the Apple Store in Singapore, September 21, 2018. (Edgar Su/Reuters)The federal government cant be trusted with additional surveillance powers.

Some political dilemmas come to down to: Whom should we trust more? In the case of Apple vs. the FBI, the question is: Whom should we distrust less?

Advantage: Cupertino.

As the proverb has it, Hard cases make bad law. But they sometimes make pretty good politics.

Notionally, the dispute here is about the case of Second Lieutenant Mohammed Saeed Alshamrani of the Royal Saudi Air Force, who shot eleven people, killing three, at Naval Air Station Pensacola, where he was undergoing training courtesy of the U.S. government, whose agents assure us that they are competent to vet would-be immigrants and visitors for jihadist sympathies.

The feds tend to be more effective after the fact. Twenty-one of the nearly 900 Saudi military trainees in the United States are being sent home after a federal investigation revealed them to be in possession of derogatory material ranging from anti-American literature to child pornography.

There will be no trial of Alshamrani, who was liberated from this vale of tears at the scene of his crime by the marksmanship of Escambia County sheriffs deputies. But there is an ongoing investigation. Alshamrani was the sole shooter, but he did not act alone: The evening before the massacre, he entertained Saudi friends at a dinner party at which they watched videos of mass shootings, and three of them took video of the incident while it was underway. The FBI rightly wants to understand this incident in the broader context of jihadist radicalization with an eye toward preventing future atrocities.

And so the FBI would like to have a look at Alshamranis iPhone. But they cannot access it, and they want assistance from Apple, which has declined to give the U.S. government what it really wants: a backdoor to defeat the encryption in Apple products, something it has been seeking for years and pressing for in similar cases such as that of the San Bernardino terrorists. As Ben Wizner of the ACLU argues in Wired, The Department of Justice is trying to identify the most politically advantageous case in which to press a longstanding desire, which is that companies reengineer their products to allow easy surveillance.

In the San Bernardino case, a third party was able to provide access to the phones. The FBIs crime lab is hard at work on Alshamranis two iPhonesin a truly impressive feat, they apparently have managed to get the devices into operational condition in spite of the fact that Alshamrani shot them. But they are not confident that they can access them. Apple, for its part, has provided access to a great deal of cloud data but declines to provide the means for defeating its encryption on the grounds that there is no way for them to prevent hackers and other criminals from exploiting such a backdoor.

But bad actors outside the government are not the only concern here. There are plenty of bad actors inside our government as well. From the Obama administrations politicization of the IRS and other federal agencies with easily weaponized investigatory powers to the abuses of surveillance protocols in the investigation of the Trump campaign (antithetical to the heightened duty of candor in the sterile language of Rosemary Collyer, the presiding judge at the FISA court), the federal government has shown itself incapable of deploying its awesome powers in an honest and politically neutral fashion.

The ethical lapses of the federal government must be considered in the context of its general incompetence in the matter of deploying the powers it already has to prevent terrorist attacks such as the one in Pensacola. Return your minds for a moment to the fact that at least 21 of the Saudi military personnel brought here for training were in possession of anti-American propaganda, which should have raised counterterrorism concerns, and child pornography, which is a regular old workaday felony.

Performing background checks on military personnel, who are under certain obligations that supersede ordinary privacy expectations, is a relatively easy task. And we are not talking here about members of the Norwegian military but members of the military of Saudi Arabia, the government of which is not famous for its interest in the privacy of its subjects or their civil liberties.

No humility about its shortcomings stopped the U.S. government from providing these men training in the killing arts at the expense of the U.S. taxpayer. Nor did it stop the U.S. government from importing a terrorist who carried out a deadly attack on U.S. soil.

Mature judgment requires us to balance the likelihood that additional powers will be abused against the likelihood that some good will come of them, and in this calculation, Washington is found wanting.

Apple is right to look after the privacy interests of its customers, and to assist law enforcement where doing so is not detrimental to those interests. And the U.S. governments law-enforcement and intelligence operatives are right to do what they can to learn what can be learned from the communications of terrorists such as Mohammed Saeed Alshamrani. But they are the ones who have to do their jobit is not desirable that Apple should be deputized to do it for them, or that Apple should give them a master key to Americans private communicationsbecause the U.S. government already has shown on many occasions that it simply cannot be trusted with such power.

It is worth remembering that Senator Barack Obama was a civil libertarian who worried that the PATRIOT Act would undermine the privacy of American citizens, and that President Obama, only a few blinks of the eye later, decided that the so-called war on terror invested him with the unilateral authority to order the assassination of American citizens without so much as a legislative by-your-leave.

Political power is always growing and generally metastatic, and the case of Mohammed Saeed Alshamrani is not onlyor even mainlyabout Mohammed Saeed Alshamrani.

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Apple Is Right to Refuse to Help the FBI Hack into iPhones - National Review

EncryptOnClick is a freeware tool that can encrypt files and folders – Ghacks Technology News

EncryptOnClick is a freeware tool that you can use to encrypt files and folders. The application offers an extra layer of security to protect data and uses military grade 256-bit AES encryption for protection.

The program's interface is very simple as it displays a handful of buttons only. It lists two encrypt actions and decrypt actions which can be run on files or folders.

Let's encrypt some files. Click on the File button and it will open an "Encrypt Password" window. You are prompted to enter a password and confirm it. Optionally, you can add a comment thought I didn't see any being displayed while decrypting the files.

Important: Don't forget the password, as there is no way to recover it.

Before clicking on the Ok button, decide if you wish to encrypt the filenames and enable the option, or skip it. This depends on how you're using the data, and how sensitive it is. If you select to encrypt the filename, it is modified so that it is no longer possible to get information just by looking at it.

Warning: If you are just testing the program, make sure to check the box next to the "Do not delete file after encrypting" option.

Hit Ok and the encryption process will begin. The time it takes for this depends on the size of the files that you're encrypting. The files are saved in the EOC format (named after the program). Okay, so if we remove the EOC from the name, will the file be readable? Of course not. You may have noticed that the encrypted file is smaller than the source file's size, that's because EncryptOnClick compresses the files while encrypting them. This is quite handy in case you want to email the files to your contact. When the file is decrypted, it will be restored to its original state and size.

Note: If you select the "Folders" option, the program will encrypt the files inside the folder, not the folder itself.

There are two ways to decrypt the contents. Either use the program and select the Decrypt option (Files or Folders), or just try opening the files (if the program is installed) and it should ask for the password. Once again, remember to check the "Do not delete file after decrypting" option, else the encrypted copy will be deleted. Regardless of the option, the uncompressed file will be saved in the same folder, so it's not a real loss.

The program doesn't have a portable archive ready to download, but you can create a portable version by copying three files from the installation directory: EncryptOnClick.exe, EncryptOnClick.exe.manifest and XceedZip.dll to a memory stick and use it anywhere. I tested this as well, and it works perfectly.

Do I need EncryptOnClick installed to open the files? Yes, according to the documentation, or WinZip 9 or above. The portable version works fine too. Since I'm a 7-Zip user, I wanted to check if it can decrypt it, and I can confirm that it works. This screenshot is from a friend's computer whom I sent the encrypted file to, he was able to open it with 7z.

Note: You can rename the extension of the encrypted files to anything you want, you can still decrypt it. It can be a good way to prevent others from opening your files.

EncryptOnClick can be very useful for protecting financial documents, personal data, pictures, etc. The simplicity of the program makes it suitable for people of all skill levels.

Author Rating

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Windows

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Security

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Free

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Email Encryption Software Market: Global Industry Share, Size, Trends, Growth, Investment Analysis, Development Factors, Future Scope, Challenges and…

Transparency Market Research, in its latest market intelligence study, finds that the global Automotive Inner Fenders market registered a value of ~US$ xx Mn/Bn in 2018 and is spectated to grow at CAGR of xx% during the foreseeable period 2019-2029. In terms of product type, segment holds the largest share, while segment 1 and segment 2 hold significant share in terms of end use.

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About TMR

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The companys exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMRs experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

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Email Encryption Software Market: Global Industry Share, Size, Trends, Growth, Investment Analysis, Development Factors, Future Scope, Challenges and...

Encryption battle reignited as US govt at loggerheads with Apple – Times Now

(Representational photo)  |  Photo Credit: IANS

Apple and the US government are at loggerheads for the second time in four years over unlocking iPhones connected to a mass shooting, reviving debate over law enforcement access to encrypted devices.

Attorney General Bill Barr said Monday that Apple failed to provide "substantive assistance" in unlocking two iPhones in the investigation into the December shooting deaths of three US sailors at a Florida naval station, which he called an "act of terrorism."

Apple disputed Barr's claim, while arguing against the idea of "backdoors" for law enforcement to access its encrypted smartphones.

"We reject the characterization that Apple has not provided substantive assistance in the Pensacola investigation," the company said in a statement.

"Our responses to their many requests since the attack have been timely, thorough and are ongoing."

Late on Tuesday, President Donald Trump weighed in on Twitter, saying the government was helping Apple on trade issues "yet they refuse to unlock phones used by killers, drug dealers and other violent criminal elements."

"They will have to step up to the plate and help our great Country, NOW!" he added.

The standoff highlighted the debate between law enforcement and the tech sector about encryption -- a key way to protect the privacy of digital communications, but which can also make investigations difficult, even with a court order.

The latest battle is similar to the dispute between Apple and the US Justice Department after the December 2015 mass shooting in San Bernardino, California, when the iPhone maker rejected a request to develop software to break into the shooter's iPhone.

That fight ended in 2016 when the government paid an outside party a reported $1 million for a tool that circumvented Apple's iPhone encryption.

Barr last year called on Facebook to allow authorities to circumvent encryption to fight extremism, child pornography and other crimes. The social network has said it would move ahead with strong encryption for its messaging applications.

Digital rights activists argue that any privileged access for law enforcement would weaken security and make it easier for hackers and authoritarian governments to intercept messages.

"We have always maintained there is no such thing as a backdoor just for the good guys," Apple's statement said.

"Backdoors can also be exploited by those who threaten our national security and the data security of our customers."

Apple and others argue that digital "breadcrumbs" make it increasingly easy to track people, even without breaking into personal devices.

The government's latest demand "is dangerous and unconstitutional, and would weaken the security of millions of iPhones," Jennifer Granick of the American Civil Liberties Union said in a statement.

"Strong encryption enables religious minorities facing genocide, like the Uighurs in China, and journalists investigating powerful drug cartels in Mexico, to communicate safely."

Granick added that Apple cannot allow the FBI access to encrypted communications "without also providing it to authoritarian foreign governments and weakening our defenses against criminals and hackers."

Kurt Opsahl of the Electronic Frontier Foundation echoed that sentiment, saying Apple "is right to provide strong security" for its devices.

"The AG (attorney general) requesting Apple re-engineer its phones to break that security is a poor security trade-off, and imperils millions of innocent people around the globe," Opsahl tweeted.

James Lewis of the Center for Strategic and International Studies, a Washington think tank, said he believes it's possible to allow law enforcement access without sacrificing encryption.

"You're not weakening encryption, you're making it so it's not end-to-end," Lewis told AFP.

"It means that there's a third party who can look at it under appropriate authority."

But Lewis said he does not expect either side to come out a winner in the battle, and that US officials will likely find another outside party to crack the two iPhones belonging to the shooter, Royal Saudi Air Force 2nd Lieutenant Mohammed Saeed Alshamran, who died in the attack.

"It's a repeat of the movie we saw in San Bernardino," he said.

"It's going to be harder because Apple probably fixed the trick that worked in San Bernardino."

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Encryption battle reignited as US govt at loggerheads with Apple - Times Now

Hardware Encryption Market Set To Register A CAGR Growth Of XX% Over The Forecast Period 2017 2025 – Fusion Science Academy

Study on the Global Hardware Encryption Market

A recent market study published by TMRR provides resourceful business insights pertaining to the growth prospects of the Hardware Encryption market during the considered forecast period, 2019-2029. According to the report, owing to the growing demand for product 1 and product 2 from region 1 and region 2, significant advances in Hardware Encryption technology, and growing investment for research and development activities, the Hardware Encryption market is projected to grow at CAGR of XX% through the forecast period.

The data collected by our analysts from credible primary and secondary sources provides answers to some top queries related to the global Hardware Encryption market.

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Some of the questions related to the Hardware Encryption market addressed in the report are:

in the current Hardware Encryption market?

The market study bifurcates the global Hardware Encryption market on the basis of product type, regions, application, and end use industry. The insights are backed by accurate and easy to understand graphs, tables, and figures.

segmentation, applications, technological advancements, and the regional segments of the global hardware encryption market. In addition, the limitations and challenges that are being faced by the prominent players in the overall market have been discussed in the research study.

Global Hardware Encryption Market: Drivers and Restraints

The rising concerns related to the privacy of data and data security and tremendous expansion of the digital content are anticipated to encourage the growth of the global hardware encryption market throughout the forecast period. In addition, several advantages offered by hardware encryption in comparison with software encryption technology and the rising need of regulatory framework are some of the other factors estimated to accelerate the growth of the overall market in the near future.

On the contrary, the need for high capital investment and the lack of awareness among consumers reading the benefits of hardware encryption technology are projected to restrict the growth of the global hardware encryption market in the next few years. Nevertheless, the emergence of economical and compact hardware encryption technique and the rising adoption of cloud computing are expected to offer promising opportunities for market players in the coming years.

Global Hardware Encryption Market: Region-wise Outlook

The global market for hardware encryption has been divided on the basis of geography into Europe, the Middle East and Africa, North America, Latin America, and Asia Pacific. The research study has provided a detailed analysis of the leading regional segment, highlighting the market share and anticipated growth rate. In addition, the key factors that are encouraging the growth of these segments have been discussed in the scope of the research study.

According to the research study, Asia Pacific is anticipated to witness strong growth throughout the forecast period, owing to the robust development of the IT industry. In addition, a substantial contribution from China, India, Malaysia, and South Korea is expected to accelerate the growth of the hardware encryption market in Asia Pacific throughout the forecast period. Furthermore, with the presence of a large number of established hardware encryption manufacturing companies, North America is anticipated to witness healthy growth in the next few years.

Key Players Mentioned in the Research Report are:

The global hardware encryption market is projected to witness a high level of competition in the coming few years. The leading players in the market are focusing on offering new products to consumers in order to enhance their market penetration and maintain their dominant position throughout the forecast period. Some of the prominent players operating in the hardware encryption market across the market are Netapp, Maxim Integrated Products, Inc., Toshiba Corp., Gemalto NV., Micron Technology, Inc., Samsung Electronics Co. Ltd., Kanguru Solutions, Thales (E-Security), Winmagic Inc., Kingston Technology Corp., Western Digital Corp., and Seagate Technology PLC.

Furthermore, the research study has provided a detailed analysis of the competitive landscape of the global hardware encryption market. An in-depth overview of company profiles and their financial overview have been discussed at length in the scope of the research study. Additionally, the business strategies, SWOT analysis, and the recent developments have been included to offer a clear understanding of the overall market.

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Competitive Outlook

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Hardware Encryption Market Set To Register A CAGR Growth Of XX% Over The Forecast Period 2017 2025 - Fusion Science Academy

8 Ways the NSA Is Spying on You Right Now | ExpressVPN

In 2013, Edward Snowden revealed the NSA collects personal data on every American, as well as many more people worldwide. Though the scale of the surveillance was shocking at the time, its no longer the en vogue news story.

The NSA is the U.S. National Security Agency. Ostensibly there to protect U.S. citizens and interests, the truth is that the NSA monitors every American and the people of many allied countriesall with the backing of the U.S. government and large portions of Congress.

But its not only the NSA spying on its own people. Its counterparts at the CIA (Central Intelligence Agency) are also spying on and hacking targets of interest.

Here are eight ways the NSA is still spying on you, right now, according to documents leaked by Edward Snowden and further investigation by the press.

In 2017, the NSA acquired data from over 534 million phone calls and text messages. Unbelievably, this tally is over triple the amount collected in 2015, when the USA Freedom Act supposedly limited NSA access to data from communication companies.

The NSA has yet to release the extent of 2018 data harvesting, though recent reports suggest excessive phone collections might finally be on the way out. Lets hope the stories are true, but it wouldnt be the first time the NSA has straight up lied about its surveillance policies.

Facebook, Google, Apple, and six other leading online services have all gone on record as having given their customers data to the NSA, as legally required by the PRISM program. Data shared includes emails, messages, and documents.

The NSAs hacking unit, Tailored Access Operations, has developed a whole range of hacking exploits. These enable the NSA to break into consumer electronics devices and IT systems as it sees fit.

When the NSA finds a security hole in a popular consumer device, it does not fix the security hole, but instead exploits it. That leaves virtually every device vulnerable to hackers.

The NSA has made the job of hacking security devices easier for itself, by coercing many manufacturers into building vulnerabilities into products.

If that isnt enough, the NSA is known to intercept shipments of computers and phones to put backdoors on them. The backdoor circumvents security measures of the device, allowing the NSA to spy on the end user.

When you move around your town, cell phone towers can calculate your exact position. Though the NSA claims it no longer collects this bulk data itself, cell phone providers are still required to do so, and they, in turn, must surrender those records to the NSA when ordered by a court.

By far the worst aspect of this unwieldy power is that you dont even have to be the subject of an inquiry yourself. The data of millions can be handed over, without notice, because you had even the most tangential connection to a person under surveillance.

The internet connects different continents via undersea fiber optic cables that carry staggering amounts of data. In some places, the NSA has deals with local intelligence agencies to tap into these cables; in others, it does so on its own. The NSA even uses submarines to attach snooping bugs to wires deep beneath in the ocean.

In Brazil, Germany and other countries, the NSA has broken into the internal networks of major telecommunications providers, intercepting the data they gather and weakening the security of their systems. It collects every email and phone call it can.

Through agreements and hacking, the NSA can access credit card networks, payment gateways, and wire transfer facilities around the world. This monetary surveillance allows The NSA to follow every cent of your money, where it comes from, and what you spend it on.

While NSA surveillance extends across the globe, there is still a lot you can do to safeguard your internet privacy. Check out this list of top privacy tips and always be conscious of what youre sharing, with whom youre sharing, and how you share it.

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Johnny 5 is the editor of the blog and writes on today's most pressing technology issues. From important cat privacy stories to governments and corporations that overstep their boundaries, Johnny covers it all.

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Trump administration to illegally divert an additional $7.2 billion to border wall construction – World Socialist Web Site

Trump administration to illegally divert an additional $7.2 billion to border wall construction By Jacob Crosse 17 January 2020

Reports leaked to the Washington Post and confirmed by two sources in the New York Times indicate that the Trump administration is repeating last years unconstitutional violation of the congressional power of the purse. It is invoking a mythical national emergency to divert $7.2 billion dollars from the obscene $738 billion Department of Defense budget to hasten the construction of the border wall and further cultivate his fascistic base of support ahead of the 2020 election.

Congressional Democrats gave Trump a clear path to once again circumvent congressional authority by passing the National Defense Authorization Act this past December, which provided the Trump administration with record funding for the military and stripped out language that would have barred the siphoning of funds from the Pentagon to border wall construction.

The Constitution of the United States explicitly states that, No money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law. This has become a dead letter, like many other constitutional provisions, as decades of aggressive war, years of extrajudicial assassinations, the building of concentration camps on the border, the suspending of habeas corpus, and the continued support for unlimited NSA spying and warrantless wiretapping has shown.

The funding, similar to last year, will be pulled from military construction projects such as repairing schools and water treatment centers on US bases, counter-drug insurgency operations, and the minimal funds that have been made available to the Puerto Rico National Guard for rebuilding efforts following 2017s Hurricane Maria and the recent barrage of earthquakes that have struck the island.

While last year the Trump administration shifted $2.5 billion from counter-drug programs and $3.6 billion from military construction, those figures increased this year to $3.5 and $3.7 billion respectively. Overall, the Trump administration, with Democratic acquiescence, has allocated $18.4 billion to the construction of a symbol to the anarchy, stupidity, and cruelty of the capitalist system.

For the 2019-2020 school year, Collegeboard.org estimated that the average US college student spends an estimated $21,950 for four years of in-state tuition with room and board included. If the $18.4 billion that is currently being used for border security were instead put towards funding higher education, some 833,268 students could attend state public colleges at no cost for the next four years. If one just allocates the funds to tuition, not including room and board, then over 1,762,452 students would be able to further their education.

According to the plans revealed to the Post , the additional funding would be sufficient to complete approximately 885 miles of wall by 2022. Trump has pledged throughout his presidency that by November 3, 2020, US election day, 450 miles of the wall would be complete. As of today, roughly 101 miles has been completed, nearly all of it on federally owned land. Trump is using the threat of eminent domain to intimidate landowners along the border into selling their property.

A legal barrier to the continued construction of the wall was lifted this past week by the US Court of Appeals for the 5th Circuit, in New Orleans, which overturned a ruling from a federal district court in El Paso, Texas that had frozen the $3.6 billion in military construction funds from last year, barring them from being used towards a purpose that had not been approved by Congress.

This ruling, along with the Democrats complete withdrawal from any defense of immigrants rights, has according to the Post, provided the administration with additional encouragement to continue to violate the Constitution.

There were mild grumblings about the Trump administrations actions from a few Republican Senators such as Richard Shelby (R-AL). In statements to reporters, Shelby wished that theyd get the money somewhere else, instead of defense, before quickly adding that he support(s) building the wall. And I support funding money directly ... to help the president.

Playing their part as a resistance party in name only, the Democrats have continued to center their so-called resistance to Trump on a right-wing anti-Russia campaign. This latest violation of the Constitution was not brought up before the committees involved in the impeachment inquiry, despite the obviousness of the transgression.

The Democrats, striking a similar tone to their GOP collaborators, once again bemoaned that the Pentagons war machine was being denied resources; Representative Katie Porter lamented that the diversion hurts military readiness, and that we should stand by our troops.

In prepared statements Tuesday, three leading Democrats, House Appropriations Committee Chairwoman Nita Lowey (D-NY), Defense Appropriations Subcommittee Chairman Pete Visclosky (D-Ind.) and Rep. Debbie Wasserman Schultz (D-Fla.), all issued statements which made reference to the further violence to the Constitutional separation of powers that is inherent to our democracy. However, their main objection was once again centered on the fact that the funding would be forcing service members and their families to pay for his wall, while funding that was intended for meaningful counter-drug priorities, would be neglected.

The truth is none of these funds, whether they remained in the Pentagon or were unconstitutionally shifted to border wall construction, will do anything to help better the lives of working people either within the borders of the US, or outside of them.

2019 has been a year of mass social upheaval. We need you to help the WSWS and ICFI make 2020 the year of international socialist revival. We must expand our work and our influence in the international working class. If you agree, donate today. Thank you.

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Trump administration to illegally divert an additional $7.2 billion to border wall construction - World Socialist Web Site

Institutional Money May Be Igniting the Current Bitcoin Rally – CCN.com

Bitcoin recorded another fresh 2020 high Friday as it climbed to $9,000.

There are different theories as to why the number one cryptocurrency suddenly came back to life. Just over a week ago, bitcoin rallied along with gold and oil after geopolitical risks in the Middle East escalated. Some analysts claim that speculators are already positioning for the May 2020 halving. Others claim that the loose monetary policies of central banks is driving investors to take on riskier assets.

While these theories have their own merit, new information tells me that institutional money may be powering bitcoins ascent.

In the fourth-quarter of 2019, the top cryptocurrency struggled to keep its head above water. From a high of $10,350 in October, it nosedived to $6,425 in December. At the time, the atmosphere was so pessimistic that calls for a drop to $5,000 or lower were dime a dozen.

At the same time, however, Grayscale was raking in institutional money. Last year, the Grayscale Bitcoin Trust drove demand as institutions invested $471.4 million. Nearly 200 million were raised in 2019.

This new information tells me that institutional investors helped carve the bitcoin bottom in December. It is no coincidence that the orange coin bottomed out just as institutional money came pouring in.

$200 million is a lot of money for an asset class with a market cap of about $162 billion. The impact of institutional money is magnified if you consider that more than half of BTCs in circulation have not moved in a year. Only $50 billion worth of BTCs have been changing hands over the past 12 months.

The chart shows that 64% of the over 18.04 million BTCs in circulation are dormant. Only 6.46 million BTCs are being used for trading or payments. These numbers indicate that the cryptocurrency is bound to soar if $200 million of new money enters the market.

While $200 million may be enough to carve a bottom, its not sufficient to push bitcoin to greater heights. Should the current bull rally fail to entice new investments, the coin will likely struggle to maintain its momentum. Whats even worse is that institutions might cash out just as new money from hyped retail traders enter the market.

If that happens, we might see bitcoin capitulate to $5,000 as trapped retail money rush to exit the cryptocurrency.

Disclaimer: The above should not be considered trading advice from CCN. The writer owns bitcoin and other cryptocurrencies. He holds investment positions in the coins but does not engage in short-term or day-trading.

This article was edited by Sam Bourgi.

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Weak Hands Are Out Trader Who Called $20K Bitcoin Top Calls Bottom – Cointelegraph

Bitcoin (BTC) investors who are waiting for a price dip to even $6,000 have missed their opportunity already, veteran trader Peter Brandt says.

In a market discussion with Cointelegraph on Jan. 17, the 40-year market stalwart said that contrary to what some believe, BTC/USD has already hit its floor.

They all now want to sit and buy a break back to $6,000 or $5,000 and theyve missed the bottom and during that bottom, I think you had a lot of people accumulate with strong hands, he summarized.

Brandt continued:

The weak hands are out; the strong hands own it.

As a long-time Bitcoin advocate, Brandt was continuing a bullish streak he began on social media earlier this month.

As Cointelegraph reported, his personal sentiment has undergone a change since late 2019 as recently as December, he had warned there remained a chance for Bitcoin to put in lower lows in 2020 thanks to novice investors he described as cryptocultists.

In early 2018, one month after Bitcoin reached its all-time highs of $20,000, Brandt warned markets would not be going any higher, and that an 80% retracement was likely. BTC/USD hit local lows of $3,100 84.5% lower a year later.

Now, however, the danger has subsided, Brandt suggested, in comments echoed in the discussion by fellow trader Alessio Rastani.

I think anybody who is interested in what Bitcoin has to offer has to have at least 10-20% of an ownership position relative to the capital that they could commit to Bitcoin in a bigger perspective, he advised.

Bitcoin has sealed monthly gains of around 35%, with 2020 progress alone at 25%. Markets reached local highs of $9,000 on Friday, before encountering resistance, which coincides with the 200-day moving average price, something which has historically stifled bullish progress.

The latest statistics meanwhile suggest that interest in Bitcoin extends beyond lay consumers volume surges on futures markets signal institutional commitment as well, commentators have said.

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New Analysis Finds That Mondays Are the Best Days to Buy Bitcoin – Cointelegraph

This week saw Bitcoin price (BTC) hitting the $9,000 barrier amid the launch of CME Bitcoin options and Plaids acquisition by Visa, reaching a record price for the last two months.

Bitcoins 27% price gain since the beginning of the year along with the future bullish scenarios laid down by investors may attract new crypto holders. But since BTC/USD is traded 24/7, new investors may be wondering: is there a difference between investing on a particular day of the week?

Figure 1. Crypto market data, 1-day performance. Source: Coin360

The basis of a difference in a day of a week returns comes from traditional stock markets. It has been shown that stock returns on Mondays are, on average, negative. This is called the Weekend Effect. One explanation is that the effects on a particular stock will only be felt on Monday since the market is closed during the weekend. However, the cryptocurrency market is always open: Could we expect the same behavior on Mondays for Bitcoin?

Analyzing Bitcoin returns from the beginning of 2019 until Jan. 13, 2020, data shows that Fridays present the highest average return across the days of the week at 1.1%. In contrast, only two days of the week show negatively average returns, Tuesday (-0.24%) and Thursday (-0.97%).

If an investor only started investing at the start of 2019 on a particular day of the week, Friday would present the best cumulative return, followed by Monday (Figure 2). Taking Fridays as an example, its assumed that the strategy would be to buy BTC closing price on Thursdays and sell it at the closing price on Fridays.

The closing prices (UTC timezone, a rolling 24-hour period) are used for simplicity reasons since the desired time to buy and sell during those days is based on the investors preference. The same buy/sell rationale applies if another day of the week is chosen to conduct the strategy (i.e. Monday).

Figure 2: Cumulative Return for investing on a specific day only between January 2019 and January 2020

Taking a deeper look at Bitcoin returns for a longer time period, as seen from Figure 3, we can conclude that Mondays offer the best average return from all the days of the week (0.54%).

On the other hand, Thursday and Wednesday are the worst days of the week to invest in Bitcoin with an average return of -0.09% and -0.23%, respectively.

Bitcoins Monday anomaly case is reinforced from a statistical perspective since Monday is the only day of the week with a statistically significant result from the used regression models.

Curiously, as a truly anti-status quo coin, Bitcoin shows a mean positive return on Mondays, in contrast to traditional stock markets Weekend Effect.

Figure 3: Average Daily Return for each Day of the Week between April 2013 and January 2020.

Using the same long-term sample starting in April 2013, an investor choosing exclusively one day of the week as a strategy would get the best option by choosing Mondays, followed by Saturdays, as seen from Figure 4.

Figure 4: Cumulative Return for specific day investment during the entire sample analyzed (Between April 2013 and January 2020)

We cannot ignore Bitcoins explosive gains from two highly volatile periods seen in 2017 and how those influence the average returns for the longer time sample. By isolating that year, we find that Monday still shows the highest average return (1.5%) across the days of the week, followed by Thursday (0.55%).

Figure 5: Average Daily Return for each Day of the Week between during 2017

In summary, Bitcoins unique features reveal an opposite behavior to traditional stock markets, showing a positive average return on Mondays when considering wider time periods. However, when dealing with shorter time frames, we identify Fridays as the day with the highest average returns across the days of the week.

As reported by Cointelegraph, a study in September 2019 showed that Bitcoin holders make a profit after an average of 1,335 days, or roughly three years and eight months. Overall, holding BTC has been profitable for over 94% of days Bitcoin has existed, according to the latest data from Bitcoin Hodl Calculator.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

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New Analysis Finds That Mondays Are the Best Days to Buy Bitcoin - Cointelegraph