Bitcoin loses 13% in just a few hours, the nightmare has no end
As of 22:20 pm on June 8, the price of Bitcoin has dropped to $ 32,000 / coin, down 13% compared to the previous trading session. The cause of this sell-off is unknown at the moment, but it could be related to concerns about its security.
A few hours ago, US authorities announced they had recovered $2.3 million worth of Bitcoins, most of which were cryptocurrencies that the company that owns the Colonial oil pipeline had to pay hackers in return. system control. Court documents show that investigators found the password of one of the digital wallets used by the hackers. They were withdrawn by court order.
The incident was marked as a major step forward by US authorities in the fight against hackers, who often use Bitcoin as a tool to profit. The characteristics of cryptocurrencies make them virtually untraceable and do not require traditional money laundering.
However, shortly after this news, Bitcoin dropped sharply. Smaller-cap digital currencies are also in the red. This sell-off continues the turbulence that Bitcoin faced even two months ago, its price reaching nearly $65,000. Even many people are skeptical about the value of Bitcoin and other digital currencies.
At the moment, Bitcoin is only up 14% from the beginning of the year. However, its price is still 3 times higher than a year ago. A few days ago, many cryptocurrency experts warned that a flood of bad news could cause the Bitcoin price to break the $20,000 mark.
Bitcoin is known for its anonymity and high security. Therefore, it also creates controversy when criminals prefer to use this currency to cover up illegal activities. Hackers often demand ransom in Bitcoin to make sure no one can track their activity.
DarkSide is one of them. The organization is said to have earned $90 million in Bitcoin ransom before switching methods of operation. Currently, they create a so-called "ransomware as a service" business model, which provides hacking tools for other hackers to carry out attacks.
The Bitcoins that have just been seized are mainly sourced from the company that owns the Colonial pipeline, who were forced to pay to get the lifeline pipeline back up and running.
John Hultquist, an analyst with Mandiant Threat Intelligence, called the US seizure of illegal cryptocurrencies "a welcome development".
'Obviously, we need a way to prevent Bitcoin and other cryptocurrencies from being turned into a tool in the hands of illegals. Law enforcement needs to further expand their technology to prevent block these activities," Hultquist.
However, the truth is that Bitcoin is still falling in price. The case is another demonstration that states can fully regulate cryptocurrencies, as claimed by many governments recently.
You should read it
- How to dig bitcoin without wasting electricity
- What is Bitcoin faucet? What is Bitcoin faucet?
- What do you need to know when buying Bitcoin or selling Bitcoin?
- Guide to digging Bitcoin for beginners
- Today's Bitcoin price, Bitcoin price update every minute
- The world only has 20% Bitcoin to 'dig'
- 10 facts about Bitcoin
- Crossing virtual walls, Bitcoin exploded in real life
- How to interpret bitcoin that your grandparents can understand
- What is Satoshi? 1 Satoshi is how many Bitcoin?
- Instructions to buy and sell Bitcoin on Remitano floor
- Bitcoin finds its heyday
Maybe you are interested
Inside the Nuclear Shelter That Stores Over $100 Million in Bitcoin
Bitcoin price today August 1: Adjusted to 64,300 USD
The future of the virtual currency and bitcoin industry will be more favorable if Former President Donald Trump is re-elected
Bitcoin price today July 19: Adjusted to 63,600 USD
Bitcoin price today July 18: Adjusted to 64,600 USD
Analyst Justin Bennett: Bitcoin Could Fall to $52,000