Bitcoin breaching the key resistance level at $4,050 – Jihadist Raise Funds Using Bitcoin

Bitcoin breaching the key resistance level at $4,050 – Jihadist Raise Funds Using Bitcoin

March 30, 2019 Off Steven Anderson By Steven Anderson

The industry fundamentals in the cryptocurrency world are favoring a positive situation.  The price volatility factor is reaching record lows in March; however, the transaction counts are at an all-time high.

Bitcoin hit a 3 month high breaching the key resistance level at $4,050. The key resistance level was seen at the $4,000 through $4,050 price range. With the Bitcoin having breached the resistance, it is expected that the cryptocurrency will be retesting the $4,200 resistance level in several months.

Murad Mahmudov recently stated, “Volatility is in itself a neutral signal. Historically, however, low-volatility periods in BTC have always preceded prolonged bull runs, especially after capitulation moments of high momentum as seen in November and December.”

While the never ending bear market seems to have gained acceptance as a norm in the cryptocurrency world, the declining volatility is igniting the interest of the people in the market.

The numbers of confirmed Bitcoin transactions are anywhere in the 393,698 counts. This is the highest ever since January 2018.  The Lightning Network is also getting to be increasingly popular these days.

Since the Lightning network transactions are carried out of the network of Bitcoin Network, in reality, the overall transactions related to Bitcoin are more.

The Unspent Transaction Outputs (UTXO) are at an all-time high.  This is indicative of the fact that accumulation is a reality. After panic selling and wallet dumps in different exchanges, investors are buying and removing Bitcoin from the exchanges.

While it is true that chances are likely for a false break out, we can see that essential fundamentals are lining up.  Therefore, providing for a positive outlook on the future price development of Bitcoin.

While the luster for Bitcoin is lost among several speculators, some terrorists are desperate to get the cryptocurrency.

It has been recently seen in a video from Hamas, the terrorist organization from the Gaza Strip urging their supporters to send money in the form of Bitcoins.

While Hamas started their fundraising attempts in January, they were able to raise only a few hundred dollars.  They are now raising their funds using Bitcoin crowdfunding, therefore, getting better at handling technology.

Hamas previously required the donors to send the money to a particular address.  However, they are now posting videos detailing methods to send funds without getting identified. The Hamas is not the first kind of terrorist organization raising funds, using the Bitcoin. Several Jihadist groups have experimented with cryptocurrency campaigns; however, they are now teaching their supporters about how to use it efficiently and securely.

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