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Tag Archives: bitcoin

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Bitcoin price weekly analysis – 11.12.2018

Bitcoin price continued on plummeting throughout last week’s trading sessions, recording a week low of $3,277 last Friday. However, after the week low was recorded, the market began recovering slightly and the bulls managed to push bitcoin price above $3,600 on Sunday. Despite the 14% drop we witnessed last week, the market’s bears failed to pull bitcoin price below $3,192, ... Read More »

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Is Bitcoin Really a Financial Bubble?

Even though 2017 was Bitcoin’s most profitable year, 2018 is ending up with the biggest losses in the currency’s market capital since its advent. Many traditional economists believe that bitcoin represents a huge bubble that is destined to burst, especially since its massive gains were driven, at least partly, by newbie buyers and speculators. As bitcoin price has plummeted below ... Read More »

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Bitcoin weekly price analysis – 19.11.2018

Bitcoin price dropped by around %20 during the past week to hit a week low of $5,432 last Thursday, which is a level that had not been reached since October 2017. Even though we predicted bitcoin price to continue on dropping during our previous bitcoin price weekly analysis, the magnitude of drop in bitcoin market’s capitalization came beyond the expectations ... Read More »

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Bitcoin price weekly analysis – 12.11.2018

After rising to a week high of $6,615 last Wednesday, bitcoin price progressively dropped down to a week low of $6,357 on Sunday. Even though the market’s bulls had the upper hand during the beginning of last week’s trading sessions, they were not capable of overcoming the resistance around the $6,615 price level. The market failed to continue on rising ... Read More »

U.S. Marshals to Auction over 660 Forfeited Bitcoin

The United States Marshals Service announced an auction of up to 660 bitcoins that were forfeited following various criminal, civil and administrative proceedings. The sale will be carried out on November 5. The announcement invites interested bidders to register with the USMS. During Registration the interested bidders are required to deposit $200,000 with the agency after which the bidder is ... Read More »

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Bitcoin weekly price analysis – 6.11.2018

After dropping down to a low of $6,242 last week, bitcoin price started rising regularly hitting a week high of $6,529. Even though technical analysis of last week’s charts denoted that we are likely to witness a bearish market during most of the week’s trading sessions, a new upwards wave began manifesting itself last Wednesday following a short bearish move. ... Read More »

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Bitcoin Price Weekly Analysis – 29.10.2018

Bitcoin price has been rather stable during the past week, as it ranged between $6,500 and $6,600 during most of the week’s trading sessions. Over the past 4 days, Bitcoin price surged by around 1%. A week high of $6,626 was scored last Wednesday, and a week low of $6,462 was recorded last Thursday. Even though last week’s charts showed ... Read More »

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Bitcoin Price Weekly Analysis – 24.10.2018

Bitcoin price has hit a high of $7,788 last week , recording gain of around $1,400 within less than a couple of hours last week. Even though this price level has not been scored since last August, the market’s bulls did not manage to keep it above $7,000 for long. However, a new rising upwards trend began to become apparent ... Read More »

Italian Police Bust a Group of Drug Dealers and Bitcoin Launderers

An investigation conducted by Italian law enforcement concluded after a series of coordinated raids in several cities in Italy led to the arrest of nine suspected drug dealers and money launderers in early October 2018. According to an announcement from the Polizia di Stato (State Police), the suspects had been operating a massive marijuana distribution operation involving internet drug sales, ... Read More »

Maryland Men Admit Selling Xanax and Laundering Bitcoin Worth Millions

In a case directly connected to the Department of Justice’s Operation Dark Gold, two Maryland men pleaded guilty to federal charges stemming from a multimillion-dollar Xanax distribution operation and a massive Bitcoin laundering conspiracy. On July 3, the Department of Justice announced the arrests of more than 30 different suspected darkweb drug dealers and their co-conspirators. Dubbed “Operation Dark Gold,” ... Read More »

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Bitcoin price weekly analysis – 15.10.2018

Bitcoin price dropped by around 7.5% during the previous week. The market’s bears managed to take bitcoin price to break out of the symmetrical triangle pattern, we observed during our previous analysis, towards the downside to record a weekly low of $6,220 last Thursday. However, after the week’s low was recorded, bitcoin price began rising again up to $6,400 on ... Read More »

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Distribution of Bitcoin and Ethereum Nodes Across the Globe – An Analytical Study

With the rising popularity of cryptocurrencies during the past couple of years, the cost of mining the most valuable coins have skyrocketed too. Almost every country on the planet hosts mining rigs operated by individuals who invest hundreds to thousands of dollars to mine crypto. A recently published paper examined closely one overarching question regarding the cryptocurrency mining phenomenon: what ... Read More »

Weekly Bitcoin Price Analysis – 9.10.18

Bitcoin price has been moving sideways during most of last week’s trading sessions, as the market’s bulls failed to push the market above the symmetrical triangle pattern that we spotted on the charts during last week’s bitcoin price analysis. Bitcoin price failed to breach the resistance around $6,757.5, which corresponds to the 23.6% Fibonacci retracement level, as candlesticks bounced off ... Read More »