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bitcoin price is up a fraction over the past 24 hours and 10% in a week to trade at $64,635 as of 07:00 am EST on volume that dropped 25%.
The lack of momentum comes amid uncertainty after Mt. Gox creditors raised alarms about so-called brute force attacks.
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MT. GOX CREDITORS ARE UNDER ATTACK.
Reports indicate that Mt. Gox creditors are facing “brute force” login attempts.
— Cryptocurrency News (@TCNCRYPTO) twitter.com/TCNCRYPTO/status/1813885775206822374?ref_src=twsrc%5Etfw”>July 18, 2024
After making headlines for its payments to creditors, the infamous cryptocurrency exchange that collapsed in 2014 is now in crisis as customers report hacking attempts on their accounts.
In a Reddit report, several customers cited notifications of unauthorized login attempts, with some noting that this followed legitimate communication from Mt. Gox.
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MT. GOX CREDITORS ARE TARGET OF A “BRUTE FORCE ATTACK”: WHAT WE KNOW
– Mt. Gox creditors are on high alert following a series of unauthorized login attempts to their accounts. This has sparked fears of a possible “brute force” attack.
– The Mt. Gox creditors subreddit has been flooded with… https://t.co/7RiahWlXP1 image.twitter.com/XOYlY88WDO
— BSCN (@BSCNews) twitter.com/BSCNews/status/1813875795766505895?ref_src=twsrc%5Etfw”>July 18, 2024
Since some shared screenshots show numerous unauthorized access attempts, creditors are concerned about possible “brute force” attacks.
Mt. Gox creditors also claim that the website has been down for maintenance amid numerous reports of unauthorized login attempts.
Creditors demand answers amid speculation of cyber attack.
The news is notable for its timing. One user quoted: “Any idea why they would attack the system now? Coins are already on Kraken.”
Kraken exchange confirmed receipt of the refunds and committed to distributing bitcoin (btc) and bitcoin Cash (BCH) to Mt. Gox creditors within 7-14 days of receiving the funds from the trustees.
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Kraken says it has successfully received funds from the Mt. Gox trustee and will work to distribute them within 7-14 days: email sent to affected users image.twitter.com/OnCp8a7siM
— Tree News (@News_Of_Alpha) twitter.com/News_Of_Alpha/status/1813167748115292467?ref_src=twsrc%5Etfw”>July 16, 2024
This comes after Mt. Gox distributed 36% of the bitcoins owed to creditors. The bankrupt exchange transferred over 140,000 bitcoins worth around $9 billion to a known cold wallet and two unknown addresses.
This significant movement of funds has intensified scrutiny on the exchange's security measures.
bitcoin Price Prediction
bitcoin price is trading in an uptrend and bullish momentum abounds, promising more gains. The position of the Relative Strength Index (RSI) above the mid-50 level shows that bullish momentum still abounds in the btc market.
The Moving Average Convergence Divergence (MACD) position above its signal line shows that buying pressure is outweighing selling pressure. Similarly, the volume profile histograms suggest abundant bullish sentiment in the btc market.
If the bullish momentum increases and bitcoin price breaks above the resistance due to the 38.2% Fibonacci retracement level of $65,772, effectively escaping the Fibonacci Golden Zone, the bullish momentum could continue.
According to the Fibonacci indicator, bitcoin price could extend a bit further to test the 23.6% retracement level of $68,746. Beyond this level, btc could attempt to reclaim its peak at $73,553; levels last tested around mid-March.
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eth/pools/0x4585fe77225b41b697c938b018e2ac67ac5a20c0″ target=”_blank” rel=”noopener”>GeckoTerminal: btc/USD 1-day chart
On the contrary, if we consider that the bitcoin price position is testing the upper boundary of the Bollinger Bands indicator, a rejection or correction could be imminent. A break of the 50% Fibonacci retracement level of $63,369 would encourage more sell orders.
The sellers’ momentum could increase if the bears sink btc below the 50% Fibonacci retracement level. Falling below this threshold would cause the bitcoin price to plummet and it could drop to the 61.8% Fibonacci retracement level of $60,965.
In an extreme case, the decline could extend to the $57,543 support. However, for the overall bullish outlook to be invalidated, bitcoin price must confirm a candle close below $53,185.
As btc bulls look for signals to add to their positions, investors continue to pour cash into the 99Bitcoins (99BTC) pre-sale, which has amassed over $2.4 million in funding.
Cryptocurrency expert and YouTuber Jacob Bury says 99BTC has the potential to skyrocket 10x after launch.
Promising alternative to bitcoin
99Bitcoins is an educational platform that has more than 705,000 subscribers on its YouTube channel and more than 2 million people registered for the website's courses.
The project aims to improve the learning experience by gamifying bitcoin education. It allows users to complete challenges and lessons to earn higher rankings and $99 btc as a reward.
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Revolutionizing twitter.com/hashtag/Learn2Earn?src=hash&ref_src=twsrc%5Etfw”>#LearnToWin!
Why it's the future:
With the $99BTC token, you can earn rewards by simply expanding your twitter.com/hashtag/Cryptocurrency?src=hash&ref_src=twsrc%5Etfw”>#Cryptocurrency knowledge.
The numbers:
– 79 hours of courses
– 709 thousand followers
– 2.85 million subscribers
Have a look: https://t.co/NXD7DAamqrtwitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin image.twitter.com/rtBrEJjaZA
— 99Bitcoins (@99BitcoinsHQ) twitter.com/99BitcoinsHQ/status/1787063963382939801?ref_src=twsrc%5Etfw”>May 5, 2024
The project also aims to compete and outperform educational currencies such as Open Campus (Education) and TokenFi (SYMBOLIC). Data from CoinGecko shows that the former has a market cap of $192 million, while the latter stands at $130 million.
99BTC is also merging with BRC-20, allowing for the creation of dApps on the bitcoin network. Token holders can earn money passively by purchasing and staking $99BTC for an impressive 694% annual percentage yield (APY).
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Short on time? Simply stake your $99 btc tokens on our website and earn passive rewards effortlessly!
Join now! https://t.co/nA4Lw89WA0twitter.com/hashtag/99Bitcoins?src=hash&ref_src=twsrc%5Etfw”>#99Bitcoins twitter.com/hashtag/crypto?src=hash&ref_src=twsrc%5Etfw”>#Cryptocurrencies twitter.com/hashtag/Presale?src=hash&ref_src=twsrc%5Etfw”>#Presale twitter.com/hashtag/Alts?src=hash&ref_src=twsrc%5Etfw”>#Alts image.twitter.com/av0mkMvIbR
— 99Bitcoins (@99BitcoinsHQ) twitter.com/99BitcoinsHQ/status/1781322130325430669?ref_src=twsrc%5Etfw”>April 19, 2024
You can buy 99 btc right now for $0.00114. But since the price will go up in less than five days, don't wait too long to get the best deal.
To join the presale, purchase $99BTC tokens from the official website here using eth, USDT, or a bank card.
Read also:
99Bitcoins (99BTC): new token to learn how to make money
- Audited by Solid Proof
- Established Brand: Founded in 2013
- Free Airdrop: Earn a Share of $99,999
- Learn to make money: get paid for completing trading courses
- YouTube community with over 700,000 members
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