Bitcoin

Bitcoin Trapped In Symmetrical Triangle – Cryptocurrency And Cryptography Are Different

The price of the Bitcoin trapped in a symmetrical triangle.  The token is looking at a break beyond $12K.

The past month volatility of Bitcoin might likely repeat.  During the second week of July, Bitcoin got a massive cut of its value.   The value of the Bitcoin has been swinging between the 9,200 USD through 13,000 USD ranges.  The current trend of the Bitcoin is Bullish.  This is indicative of the growth pattern for the coin.

The ROI on investment for Bitcoin as on August 10, 2019, was at 8.689.17%.  At the first rank, the market cap was at 212,339,156,614 USD.  Being a market pioneer, Bitcoin has proved itself time and again.  Its growth has been unprecedented, and it has influenced the overall market as well.

Terrorist funding has been the primary concern for why several regulators are refusing the Bitcoin and other cryptocurrencies. Several crowdfunding campaigns for terrorism have taken place using Bitcoin.  Terrorists have a highly-developed understanding of blockchain technology.   While many feel that “Cash is the King” when it comes to anonymous transactions, several experimentations have taken place in the dark web and several private chat channels.

A terrorist funding campaign tweet read thus:  “Dear Brothers, our project needs help and support.  You can donate for our team by Bitcoin wallet anonymously and safely, text me DM.  Please retweet and share.”  This group, at a later point in time, removed their address in a way implying that they received more donations than they needed.

During January 2019, the military arm of Hamas, Al-Qassam Brigades, solicited donations for their projects.  In the process, they handed over one of the real address of their members to collect Bitcoin donations.  Despite these public proposals, Bitcoin transactions not being completely anonymous, terrorists have now evolved, and they are very sophisticated in their understanding of how they should gather donations without becoming too public and thereby reaching only to the needed private circles. Such fundraising methods are not going to end any time soon.

Anthony Pompliano stated that Bitcoin was a haven and that it was not responsible on the part of institutions to not invest in this asset.

Pomp recently stated, Of course. Look, if you don’t believe in Bitcoin, you’re essentially saying you don’t believe in cryptography.”  He also stated, “There are a lot of things that are scarce that nobody cares about.” However, there is, in reality, no relationship between cryptocurrency and cryptography.

Marjory Lewis

Marjory is a science graduate with interest in new technological innovations. She has been attracted to blockchain from the very beginning and covers bitcoin and blockchain news for Bitcoin Journal.

Related Articles

Close