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- Bitcoin (BTC) up 2.8%
- Hackers attack Bitpoint and funds from stolen users
Bitpoint is the last Japanese exchange to lose funds from customers by hacking. In an announcement, the stock market announced that it lost 32 million dollars worth of Bitcoin, Litecoin and other coins stored in their wallet. At the time of the press, the BTC rate increased by 2.8%.
fundamentals
Japan is known for its flexibility. Japanese regulators are one of the first to enact the law. Formulating and enforcing consumer-focused laws, the Financial Services Agency (FSA) defends the interests of investors in the country's digital assets. And that is understandable. Between the hubbub of the world in Mount Gox and the recent coup of Coincheck where investors have lost more than $ 800 million in total, the FSA must be strict.
However, it seems that the malicious elements have crossed visions on the Japanese exchanges. After falling behind Zaif's security, Bitpoint is the last victim. By an announcement, the stock market announced the loss of several pieces of 32 million, including Bitcoin and Litecoin.
By penetrating and cleaning their hot wallets, the pirates stole 3.5 billion yen. Of this figure, 2.5 billion yen belonged to customers. Notifying the general public of this unfortunate event, Bitpoint said:
"We are investigating the details of the amount and the exit of the virtual currency that was the target of the illegal exit, but the output is about 3.5 billion yen (of which about 2.5 billion yen under customer custody, BPJ it is expected that the company will hold about 1 billion yen (the exchange rate will be the price as of 16 July 2019 at 4 pm). "
Chandelier arrangement
Too stable and reacting from the Bollinger Band (BB) midline, BTC is up 2.8% last week. Nevertheless, in light of recent events, bulls are at the limit. The trajectory in the short and medium term depends largely on the price evolution of the next days.
Assuming, and as reiterated in previous trading plans, there is a surge after June, then the bulls will be in pole position. In this case, the BTC could easily reach $ 15,000 or even $ 18,000. On the other hand, the weakness of the last days is a precursor for sellers.
Any decline below $ 11,200 with high participation will confirm June 27 losses, setting the pace at $ 9,500 or less when re-testing.
Technical indicators
Therefore, from above, the price trajectory in the short and medium term depends on the level of participation and the direction of the discussion. Any increase or decrease, greater or less than $ 14,000 and $ 11,200, is expected to result in high trading volumes, preferably greater than $ 82,000. In such a case, the bulls will mark their authority in the continuation of the trend or the sellers will come back in a new test.
Graphic courtesy of Trading View. Image provided by Shutterstock
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