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Bitcoin Weekly Outlook: How Likely is it to Go above $ 20,000?

For the past 7-10 days, a bear-bull clash has pushed Bitcoin into a tight price range.

Traders see short term technical barriers in long term bullish fundamentals. Sentiment is causing Bitcoin to fluctuate within a triangle-like technical pattern, with the upper trendline proving to be resistance and the lower trendline proving to be support.

That’s all the cryptocurrency flagship has to offer: short-term long / short opportunities with no attempted breakouts

It seems safer for traders to take short-term calls rather than stretching their bullish targets beyond Bitcoin’s recent all-time high of $ 19,915. Their previous attempts at this have resulted in stop loss triggers – which in turn resulted in billions of dollars‘ worth of liquidations in the Bitcoin Union futures market.

The mood now continues into the new week. Bitcoin has formed a series of lower daily highs after topping at $ 19,915.

Meanwhile, the cops are holding $ 18,000 in support. It’s only a matter of time before you know which level will break through first. The fundamentals could provide the answer.

Bitcoin’s macroeconomic outlook

As the development and distribution of COVID-19 vaccines begins, the U.S. economy could gradually recover from the aftermath of the pandemic. In the meantime, Congress could make more specific decisions about its bipartisan efforts to get the second $ 900 billion stimulus package under way.

The US Federal Reserve also meets next week to discuss whether to expand its unlimited bond buying policy from short-dated Treasuries to long-dated ones. In both cases, the US Federal Reserve has made sure it will continue to buy up government and corporate debt and maintain its ultra-low interest rates.

It is safer to assume that investors – not traders – will be watching these developments even if Bitcoin price falls below $ 18,000. A retail investor meltdown would offer those with the long-term perspective an opportunity to buy the cryptocurrency cheaper – especially as more analogies predict that its price will reach at least $ 90,000 in an inflationary environment.

Non-supporting technical factors

Bitcoin opened the week in negative territory. It is down slightly, 0.43 percent, but is trading above $ 19,200, confirming an intraday bias conflict.

Nonetheless, technical indicators are showing a sell-off warning that could push the price towards $ 18,000 this week.

The TD sequence indicator completed its cycle after its ninth and final candlestick was printed. This means that the price can start a downward movement in the form of red candlesticks.

Additionally, for shorter periods of time, the price tends to stay close to its upper resistance area, leading to profit-taking among day traders. All in all, it seems unlikely that Bitcoin will continue its uptrend above $ 20,000 this week.

Nevertheless, one should be prepared for surprises.

The founder of MyEtherWallet has his say on crypto-friendly country

According to Kosala Hemachandra, crypto-friendly regulation could be a secondary factor

Each country has very different regulations, but which is the most crypto-friendly country in the world? Kosala Hemachandra, CEO and founder of MyEtherWallet, called this question rather difficult.

„First of all we have to define what crypto-friendly means,“ Hemachandra explained to Cointelegraph. „Some countries, such as China, are keen to issue digital state currencies, which would encourage rapid adoption but do not live up to the decentralised spirit of crypto.

Over the years, China has proven to be one of the least crypto-friendly countries, as confirmed by various bans and restrictions. In 2020, the country made significant efforts to establish its central bank digital currency, the digital yuan, but such an asset differs from the decentralized, open-ended digital assets native to the crypto sector.

„In some regions, especially those where fiat currencies are unstable or highly inflationary, regulations may be unfavourable for cryptos, but at the same time there is widespread use of client-side crypto solutions,“ Hemachandra added. Venezuela, for example, has suffered incredibly high levels of inflation. As a result, crypto assets have gained popularity in the country.

The United States has a unique situation where each state has different laws and regulations, as well as being under the supervision of the federal government. „In the U.S., the reception for crypto assets can vary greatly from one state to another,“ stressed the founder of MEW. This concept often manifests itself when U.S.-based crypto platforms release new products or services earlier in certain states than in others that see a delayed launch.

The global landscape and ethics of cryptos, however, affect demand. Hemachandra explained:

„Looking for the most crypto-friendly geographical region is not necessarily the most valid approach, as every crypto service provider aspires (and must aspire) to a global user base. As a company in the industry, what we can do is stay focused on making crypto-critical services safer and easier to use, so as to encourage adoption and increasingly reduce the importance of geographical boundaries“.

The crypto environment witnessed strong growth in 2020, observed in both the Bitcoin price rise and the boom in decentralised finance. During this phase in the evolution of the blockchain industry, the United States continued to pursue technology law enforcement.

CEO MicroStrategy mówi, że Quantum Computing nie jest zagrożeniem dla Bitcoina

Michael Saylor, dyrektor generalny miliardowej firmy wywiadowczej, która w tym roku postawiła 425 milionów dolarów na bitcoin, ujawnił w jednym z ostatnich wywiadów, że jest zmęczony obroną BTC przed zagrożeniem związanym z obliczeniami kwantowymi.

Rozmawiając z analitykiem i inwestorem Scottem Melkerem, Saylor zauważył, że każdy, kto jest w stanie zbudować komputer kwantowy, który jest w stanie złamać dowolny algorytm kryptograficzny używany dziś w Internecie – który zawierałby Bitcoin – miałby inne sposoby na zdobycie pieniędzy i władzy.

Per Saylor, jest kwantowym przyrostem obliczeniowym stworzonym przez jednostkę kontrolującą, która byłaby w stanie „rozpocząć wojnę, obalić rząd, zniszczyć i zabić każdego lub cokolwiek, wziąć wszystko, czego chce od każdego, kogo chce“.

Dyrektor generalny dodał, że nie miałoby sensu, aby osoba stojąca za komputerem kwantowym, jeśli zdecydowałaby się być złym aktorem, „próbowała wziąć 0,1% bogactwa na świecie, podczas gdy pozostałe 99,9%.“ Dodał, że są ludzie, którzy mogliby mieć moralną moc niż miliarderzy, i że są inne rzeczy, które są z tym bardziej interesujące.

Traktowanie obliczeń kwantowych przeciwko Bitcoin Trader, jak kryptograficznych, jest takie, że może sprawić, że rzeczywiste zastosowania kryptografii staną się z dnia na dzień przestarzałe. To również sprawiłoby, że bankowość internetowa, wiadomości i handel elektroniczny stałyby się całkowicie niebezpieczne i sparaliżowałyby Internet w jego obecnym kształcie. Mogłoby to również spowodować, że inne waluty kryptograficzne nie będą działać.

Obecne wersje komputerów kwantowych, które mamy, są „prymitywne“, według Petera Todda, który na portalach społecznościowych wskazuje, że nadal nawet nie wiemy, czy jest możliwe skalowanie komputerów kwantowych do tego stopnia, że byłyby w stanie złamać naszą kryptografię.

W swoim wywiadzie Saylor dodał, że z komputerem kwantowym zdolnym do złamania kryptografii BTC, możliwe byłoby również rozbicie lub porwanie sieci Facebooka, a także porwanie kont prezydentów i wypowiedzenie wojny, a nawet kontrola kodów startowych nuklearnych.

Jako przykład, Saylor wskazał, że ludzie inwestujący w firmach technologicznych, takich jak Amazon, Facebook, czy Google nie martwią się o zagrożenie kwantowe obliczanie może stanowić, ponieważ „nigdy nie zarobić żadnych pieniędzy“.

$ 17K mark: Bitcoin in crucial territory – the cops are still in control

Bitcoin has seen a sharp surge in the past few hours – despite some weakness yesterday
The near future benchmark cryptocurrency trends will largely depend on whether or not the bulls can turn the resistance at $ 16,500 into support.

A break above that level would open the gates for a move into the $ 17,000 region

The days and weeks ahead should provide some serious insight into where the markets are headed in the days and weeks ahead.

A trader now sees that the cryptocurrency is approaching a high time frame resistance level.
He believes that all market developments in the near future will largely depend on Bitcoin’s response to this level.

Bitcoin has shown signs of strength over the past day, with yesterday’s slight downtrend leading to a sustained sideways trend.

In the medium term, the aggregated market trends are likely to largely depend on whether or not Bitcoin Up can stay above the lower $ 16,000 region for an extended period of time.

One trader comments that while BTC is trading around a high level of resistance in the timeframe, he believes that the coin is showing signs of strength in the lower timeframes.

It remains to be seen whether or not this can push BTC above $ 16,500 permanently

Bitcoin is struggling to build up decisive momentum while the upward trend continues
At the time of writing, Bitcoin is trading at $ 16,700. This is well above the price it has been trading at for the past few days.

BTC posted over $ 16,000 on its weekly candle close, a positive trend for bulls. This was the third highest weekly candle close the cryptocurrency has ever seen – just a few dollars off its second highest closing price.

Bitcoin’s current strength could be a result of this development.

The cops are roaring – Bitcoin is nearing key resistance

One trader believes that although signs of poor timeframe strength are flashing, Bitcoin is approaching high timeframe resistance levels that could slow its rise.

“BTC: HTF directly at the resistor. Retested previous week high and flipped. LTF looks pretty bullish. Keep the 16000s (16150-16060) low and I think we’ll see new highs this week. „

Transfero publishes stablecoin’s reserve audit in Real BRZ

Stablecoin BRZ is not backed by real but by a basket of assets report

Transfer publishes stablecoin’s reserve audit in real BRZNOTÍCIAS

Transfero Swiss, the BRZ issuer, releases the first audit report on the fiduciary currency reserves held as collateral of the Brazilian stablecoin paired with the real.

Signed by the law firms CMT Law and FMC Law, the report submitted to the Cointelegraph attests to the existence of a total reserve of R$ 47.653 million, equivalent to 106% of the total of 45 million BRZ, including outstanding and treasury assets.

Thus, there would be more reserve assets than tokens issued.

DeFi platform founded by Brazilians is selected for Silicon Valley acceleration program
Also according to the report, the verified reserves are divided in real accounts in Brazilian banks and brokers, in foreign currency in international brokerage and in crypto assets.

According to Transfero, this strategy works as a security stock for possible market shocks.

Report
The verification was done by means of a videoconference with the participation of representatives of the offices and the specialist in financial innovation, Bruno Diniz, in which the Transfero representative logged live into the different accounts held by the company, certifying in real time the existence of the funds.

Top 10 among derivatives exchanges stablecoin list backed in reais
„The BRZ audit gives the investor the security he needs to maintain positions in this stablecoin and eliminates any kind of doubt that could exist regarding its collateral at a time when we are approaching 50 million tokens,“ explains the CFO of Transfero Swiss, Carlos Russo.

The report also provides information Crypto Wealth on the volume of transactions, numbers of wallets and tokens in cash and in circulation.

Stablecoin
Transfero recently joined Stablecoin projects in Indonesia, Canada, Turkey and Europe.

According to the Brazilian company, the stablecoins group is expected to collaborate to encourage high levels of security in transactions involving stablecoins.

Paxful to list Brazilian stablecoin backed by real, the BRZ
The stablecoin Alliance is a non-profit organisation, according to a statement on the creation of cryptomoeda, which advocates stablecoins that are not related to major exchanges in the market.

Translated with www.DeepL.com/Translator (free version)

REvil cyber gang loge 1 million de dollars BTC dans une campagne de recrutement

Le cyber gang Revil, basé en Russie, a déposé un BTC d’une valeur de 1 million de dollars sur un forum public dans le but d’attirer de nouveaux visages à les rejoindre. Revil Group est connu pour déployer des attaques de ransomware et extorquer ses victimes. Le groupe a déjà volé 1 To d’informations au cabinet d’avocats Grubman Shire Meiselas & Sacks et a réclamé une rançon pour ne pas les avoir partagés.

Il semble que le cyber gang essaie maintenant d’ajouter de nouveaux visages pour étendre l’ampleur des attaques. Le gang vise à faire de nouveaux ajouts de pirates professionnels pour intensifier les attaques. Pour instiller la confiance et afficher leur aptitude, le cyber gang Revil a déposé 99 BTC d’une valeur de près d’un million de dollars sur une plateforme ouverte de cybercriminels.

L’opération REvil Cyber ​​Gang RaaS est privée

La majorité des attaques de ransomwares sont effectuées en tant que Ransomware-as-a-Service (RaaS). Les développeurs de logiciels malveillants sont chargés de créer et de concevoir le code malveillant et la voie de paiement. Ensuite, les affiliés sont inscrits pour violer les entités et lancer des attaques de ransomware.

Dans le cadre de l’accord, les développeurs reçoivent entre 30 et 20% du montant de la rançon versée par chaque affilié. Les affiliés ont tendance à conserver le reste des recettes entre 70 et 80%. Au sein de la structure Revil, l’opération RaaS est un arrangement isolé. Cela signifie que les affiliés sont examinés et interrogés avant de faire partie du processus.

Le recrutement insultant est source de préoccupation

Le dépôt bitcoin était destiné à renforcer l’assurance et à gagner la confiance du groupe de piratage. Les fonds étaient accompagnés d’un message d’inscription décrivant les mérites des personnages qu’ils recherchent. Certaines des compétences mentionnées incluent les tests de pénétration, l’expérience avec msf / cs / koadic, nas / tape, hyper-v.

Le scientifique en chef de la société de cybersécurité McAfee, Raj Samani, a déclaré que le dernier exercice d’inscription du cyber gang Revil était préoccupant. En 2019, McAfee a décrit l’anneau comme la réincarnation du cyber-gang GandCrab , qui a interrompu les opérations de 23 organisations liées au gouvernement aux États-Unis.