Bitcoin Price Prediction – May 15

According to the daily chart, the Bitcoin price loses traction after hitting $50,730; losses likely to continue in the near term.

BTC/USD Long-term Trend: Bearish (Daily Chart)

Key levels:

Resistance Levels: $55,000, $57,000, $59,000

Support Levels: $42,000, $40,000, $38,000

Looking at the daily chart, it can be easily seen that the market is back in the red zone as BTC/USD is posting losses of 5.27% on the day after touching the $50,730. It has an intraday high close to $51,000; although the world’s largest crypto faces a serious downtrend as it is currently trading at $47,265.19.

Bitcoin Price Prediction: BTC/USD May Return to Red Zone

Bitcoin price just plunged below $48,000 one more time, marking $47,250 as the current daily low at the moment. Does this mean that Bitcoin (BTC) is finally leaving the significant $48,000 level and searching for a new low? Nevertheless, looking at the declining daily volume candle, together with the steady movement below the 8-day and 21-day moving averages; it can be assumed that a serious bearish movement may be coming up soon into the market.

Moreover, at the time of writing, BTC/USD is struggling to maintain the $50,000 level and if the Bitcoin price follows the downward trend as the Relative Strength Index (14) moves into the oversold region, the next supports may likely come at $42,000, $40,000, and $38,000. From the upside, by maintaining the current level of $47,265 and any bullish movement could go above the 9-day and 21-day moving averages and send the price to the resistance levels of $55,000, $57,000, and $59,000 which could be well above the channel.

BTC/USD Medium-Term Trend: Bearish (4H Chart)

On the 4-Hour chart, BTC price hovers below the 9-day and 21-day moving averages around $48,446 which may take time to persistently trade above $50,000. In addition, if the bulls gather enough strength and regroup, the upward movement may be able to near the resistance level of $52,000 and above.

However, on the downside, immediate support is around the $47,500 level while the main support is at the $47,000 level. The price may likely fall below $46,000 if the bears step back into the market, a further movement could reach the critical support at $45,000 and below. Technically, BTC/USD is still moving in sideways while the Relative Strength Index (14) moves around 35-level, indicating an indecisive market movement.

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Source: https://insidebitcoins.com/news/bitcoin-price-prediction-btc-usd-nosedives-toward-45500

TL;DR Breakdown

• At least $81 million in crypto already stolen in 2021
• US authorities and their relationship with Chainalysis

Chainalysis, a blockchain data analytical company, has said that at least $81 million has been stolen in crypto in 2021 owing to ransomware attacks. The attack led to $406 million crypto theft in 2020.

The firm noted that ransomware attackers are growing more dangerous, more sophisticated, and sharply more profitable in extracting crypto from their victims.

The analytical firm notes that the number may likely rise as new criminal activities are still being uncovered.

Chainalysis said this in a blog post on Friday in a fraction of a forthcoming report on the state of ransomware in 2021. They are yet to announce when the entire report would be dropped.

A practical reference to the chainalysis claim is the Colonial Pipeline cyberattack, an American oil pipeline system.

The ransomware attack on the system resulted in a major gas shortage across the Southeastern US; the fuel provider reportedly paid out nearly $5 million in Bitcoin to a Russian criminal enterprise called DarkSide.

The analytical firm, in its reports, notes that the “Russian-affiliated cybercriminals so far this year have been the biggest financial beneficiaries of cryptocurrency-based crime.” Russia-linked strains have taken in 92% of this year’s ransomware proceeds, compared to 86% last year.

Ransomware payouts are also steadily growing. Victims paid an average of $54,000 in Q1, compared to $46,000 in Q4 2020 and just $12,000 on average in Q4 2019. There tends to be at least one $10 million ransom paid a quarter, but groups have demanded as much as $50 million.

Chainalysis, apart from providing analytical data about happenings in the crypto space, the firm also works with government agencies to help track down crypto criminals.

US authorities and Chainalysis

In 2020, the US Air Force agreed to a third contract with Chainalysis for crypto-related analytics.

The force partnered with the company to use its blockchain analytics services for largely unspecified reasons. According to the contract, they paid chainaysis about $779,740 for its service, which is dated May 19, 2020.

Combined, the Air Force has now spent $900,000 on Chainalysis’s analytics services.

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Source: https://www.cryptopolitan.com/chainalysis-81m-crypto-already-stolen-2021/

In the cryptocurrency space, it is usually considerably easier to focus on the negative than it is to look at the positive. As of late, Dogecoin is enduring some heavy suffering, with the fourth largest cryptocurrency by market cap falling as much as 20 percent in recent days, so for the most part, we are likely to see a lot of news coverage about this drop.

Dogecoin Is Still a Beloved Asset

However, despite this little setback, there is nothing to suggest that the currency has lost its appeal. The asset has reached a heavy pinnacle in a rather short amount of time, and the currency is doing better than it ever has largely because it has gotten heavy attention from the likes of Elon Musk and several other mainstream investors and businessmen, and the asset is almost as popular as BTC in many ways.

Billy Markus – the software engineer that helped establish the asset – acknowledges that this kind of attention is rather solid for Dogecoin, though he is confident that this is not the only reason behind its recent success. He says that the community surrounding Dogecoin has also contributed greatly to its growing status. In a recent interview, he comments:

The crypto community can be pretty elitist and not very inclusive, and we wanted to make a community that was more fun, lighthearted and inclusive. It worked, and that is why the Dogecoin community consistently maintains a presence.

He further added:

It is definitely absurd, but there is something pure about it, too.

The popular cryptocurrency was started in the year 2013 as a joke and was never meant to be taken seriously. Largely considered a “meme coin,” the currency took about two hours to create according to Markus, who was primarily looking to develop something that would make fun of cryptocurrency.

Often recognized for the cute little Shiba Inu dog that serves as its mascot, Dogecoin – Markus explains – has also become a big hit with people over the last year because of the growing coronavirus pandemic, which has caused heavy lockdowns and prevented many people from leaving their homes and living normal lives. He says that many people have been stuck sitting around watching their money remain stagnant, and Dogecoin trading has given them something to look forward to.

He states:

People have been suffering, stuck in their homes and struggling, seeing their dollar not go as far as it has previously.

It’s Brought Attention to the Market

Mike Bucella – a general partner at crypto investment firm Block Tower – says that where Dogecoin has really succeeded is in driving more attention to the crypto space. He claims:

Very few things have done as much to bring eyeballs and people into crypto. That is a crazy thing to say, but Dogecoin specifically has brought in the retail masses.

Tags: Billy Markus, dogecoin, Elon Musk Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.livebitcoinnews.com/dogecoin-has-fallen-but-people-still-love-it/