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Bitcoin (BTC) Price Prediction: BTC/USD Falls as Bitcoin Hovers above $34,000

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Bitcoin (BTC) Price Prediction – May 30, 2021

Bitcoin price is in a downward move as Bitcoin hovers above $34,000 . A break below the $34,000 support would mean a further decline to $30,000. Similarly, a rebound is equivalent to a rally to $40,000 high. The $30,000 support is where bulls have strong buying power. It is likely buyers are likely to defend the support level.

Resistance Levels: $45,000, $46,000, $47,000
Support Levels: $35,000, $34,000, $33,000

BTC/USD -Daily Chart

Since May 19 breakdown, BTC/USD has fallen to $30,000 support twice as bulls pulled back. On the other hand, Bitcoin bulls have retested the $40,000 resistance on five occasions without sustaining the bullish momentum above it. There is a deadlock above the $34,000 support as buyers and sellers continue the price tussle. The bottom line is that if Bitcoin loses the $34,000 support, the market will decline to $30,000. Interestingly, buyers will defend the $30,000 support if it falls to that level. However, a further decline to $28,000 and $20,000 is possible, if buyers fail to defend the $30,000 support.

Bitcoin Is a Speculative Asset as Criticize by Bank of Japan Governor – Bitcoin Hovers Above $34,000

Haruhiko Kuroda is the governor of the Bank of Japan and has joined the roll call of central bankers criticizing Bitcoin as a speculative asset. The governor said: “Most of the trading is speculative and volatility is extraordinarily high. It’s barely used as a means of settlement.” The BOJ governor’s comments come as Bitcoin experienced an over 50% drawdown from its $64,000 all-time-high price milestone in mid-April. The central bankers have taken Bitcoin’s current price woes as an occasion to slam BTC and cryptocurrencies in general. According to Kuroda, he repeated the sentiments of other central bankers concerning the potential viability for stablecoins as long as their issuers conform to strict regulatory protocols. Despite the current volatility, Billionaire hedge fund manager Ray Dalio has tipped Bitcoin to be a better asset than government bonds.

BTC/USD – Daily Chart

Meanwhile, Bitcoin is hovering above the $34,000 support as there are bullish signals above the current support. Meanwhile, the Fibonacci tool analysis may hold if the bears break the $34,000 support. On April 30, a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that BTC price is likely to fall to level 2.0 Fibonacci extension or level $30,701.90.

Source: https://insidebitcoins.com/news/bitcoin-btc-price-prediction-btc-usd-falls-as-bitcoin-hovers-above-34000

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XRP Unfazed by New Turn in SEC vs. Ripple Case

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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

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Source: https://cryptobriefing.com/xrp-unfazed-by-new-turn-in-sec-vs-ripple-case/?utm_source=main_feed&utm_medium=rss

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Where to buy Elrond as EGLD gears up to retest ATH

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The Elrond (EGLD) token seems to be gearing up to retest its all-time high currently located at the $300.56 level

The Elrond token is currently trading at $204.99 at the time of writing. The coin has seen gains of 11.33% in a day after a long period of consolidation that started at the $146.94 level on 20 September 2021. The coin could possibly retest its ATH if the volumes continue to build up. The EGLD token seems to be establishing a support zone near the $200 region and the coin could possibly establish higher highs if the current price rally continues in the future. 

How & where to buy Elrond in the UK and elsewhere

The Elrond token is a popular cryptocurrency and if you are interested in purchasing it, then you will need to open a trading account on an exchange/broker platform. To register an account, simply click on the sign up tab and submit a username, password and email address. Then, proceed to account verification and provide proof of identity and address. Most sites will accept standard documents such as a driving license and a utility bill. The verification process is required to ensure compliance with the Know Your Customer (KYC) regulations. 

The decentralised exchanges (DEXs) are unregulated and must be avoided. For your benefit and convenience, we have selected two of the best platforms where you can trade easily. 

eToro

eToro is one of the world’s leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It’s social copy trading features make it a great choice for those getting started.

Buy EGLD with eToro today

Binance

Binance has grown exponentially since it was founded in 2017 and is now one of, if not the biggest cryptocurrency exchanges on the market.

Buy EGLD with Binance today

What is Elrond and why is it rallying? 

The Elrond network is a unique scalable enterprise solution that has incorporated sharding technology. It allows easy deployment of dApps and focuses on faster and low-cost transactions. The EGLD network also plans to venture into decentralised finance (DeFi). 

The EGLD token was recently listed on the KuCoin exchange and has entered into a partnership with Alchemy Pay. The latter alliance will help in the easy conversion of EGLD into fiat and vice-versa. 

Should I buy EGLD today?

The Elrond token has managed to sustain its rebound rally and the positive news surrounding the coin could possibly help it to retest its ATH soon. The coin could possibly provide healthy rewards to its early holders. The Elrond network is known for its reliability and speed. 

The first target for the EGLD coin is to breach the $250 level and move closer to its ATH. The coin has the potential to surge higher if the bulls retain interest. 

This article is informational only—none of the contents should be construed as financial or investment advice.

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Source: https://coinjournal.net/news/where-to-buy-elrond-as-egld-gears-up-to-retest-ath/

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South Africa Ransomware Attack: Justice Department Denies Receiving 50 BTC Ransom Demand

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South Africa’s Department of Justice and Constitutional Development (DOJCD) has denied claims that it has received a 50 bitcoin ransom demand from hackers that attacked its systems on September 6, 2021.

Reports of Ransom Demand Deemed ‘Completely Untrue’

Instead, the DOJCD insists that its tech experts, “industry partners and selected organs of state have been working hard to contain the problem and to restore systems affected by the ransomware attack.” Consequently, the department stated in a tweet that an article published by Mybroadband on September 20, is, therefore “completely untrue.” A tweet shared by the country’s Ministry of Justice and Correctional Services explained:

The DOJCD would like to place it on the record that it has not received any ransom demand following the ransomware attack as suggested by an article on http://mybroadband.co.za/news/ published on 20 Sept 2021. The Mybroadband article to this effect is completely untrue.

The South African tech news site Mybroadband stated that hackers behind the ransomware attack had in fact demanded 50 BTC in return for restoring access to the compromised systems. The same report added that a tech firm was subsequently “brought in to attempt to regain control of compromised systems.”

Upon examining the ransomware attack, the unnamed tech firm is reported to have advised the DOJCD “to pay the ransom and [to] budget for a cloud backup system.” By agreeing to this ransom demand, the DOJCD would be able to regain control of all electronic services provided by the department.

Also in its report, Mybroadband said it had asked the DOJCD for more information about the nature of the attack against its IT system and that the latter had promised to provide further feedback.

Justice Department Attacked

Meanwhile, some Twitter users have questioned the DOJCD’s claims that it had not received a ransom demand. For instance, one user named Ravi Singh insists that this ransomware attack will only be solved by giving in to the hackers’ demands. The user said:

If you are infected with a ransomware virus, you won’t need to receive a ransom, the virus will automatically show you the bitcoin or altcoin address to pay to, to gain access to your files. It’s named ransomware for a reason. There’s no other classification or family period.

Another user said this attack has exposed the ineptitude of the person that is overseeing the IT department.

As a result of the ransomware attack, some of the DOJCD’s services are now being performed manually. However, the department has noted that “some functionality of the Mojapay system has been recovered and most [child] maintenance payments have been processed.”

Can the DOJCD successfully regain access to its systems without paying a ransom? Tell us what you think in the comments section below.

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Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Source: https://news.bitcoin.com/south-africa-ransomware-attack-justice-department-denies-receiving-50-btc-ransom-demand/

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