Buying and Selling Pressure Indicate Money Making Potential in the Market – Bitcoin Dust AttacksMarch 18, 2019
The Bitcoin has climbed into a bullish zone above $3900 versus the USD.
Rhythm Trader in a response on twitter regarding the Bitcoin trading volume topping $11 billion for the first time in a year stated, “Don’t be caught picking up a penny in front of a steamroller.”
This tweet has been made in a belief that the market has already caught up with the bottom. Rhythm trader is able to see that the trend patterns set a precedent for Bitcoin embarking past $20,000 by the beginning of the year 2021.
In a precedent, that sets a return to mean in the form of expected recovery, a short-term rebound to $6000 is completely possible.
The cryptocurrency charts are looking great, and most of the investors are waiting for the BTC to break the $4000 for nearly 3 weeks now.
About 88% of the volume figures in the market are likely to be fraudulent per Crypto Integrity, a blockchain centric research division that specializes in identifying market manipulation and fraud.
Volume reading is considered to be the key parameter that helps identify market interest. The buying and selling pressures in the market mean that traders are beginning to identify the money-making potential in the market.
Over the past 5 months, the volume of Bitcoin has increased by approximately 150%, and the daily volume has not been as high ever since 2018.
One of the members in Crypto-Integrity has to state, “[We built] a system that collects low-level market data from exchanges (order books as well as trades). It allows us to identify what no one can find on charts or by the analysis of trades & volumes.”
The cryptocurrency wallets are in reality transparent for the whole world to see. Therefore, Bitcoin users make use of another layer of privacy by making use of different addresses and several other techniques to confuse the blockchain surveillance.
Microtransactions characterize the dust attack. Dust attacks are identifying cryptocurrency users. While cryptocurrencies are not private by default, privacy techniques like Tor, VPN, shuffling coins, and completely avoiding the reuse of specific addresses are used.
Dust in the world of cryptocurrency refers to a tiny unit of Bitcoin. They are also known as Satoshis. When targeting addresses, several quantities of dust are peppered in the network. When the tiny amounts of dust mix with the unspent transaction output (UTXO), when a new transaction happens it can be tracked when the dust is spent along with it.