Mueller Report States GRU the Russian Intelligence Agency has Bitcoin Mining OperationsApril 20, 2019
One of the well-known cryptocurrency traders recently stated that they expect yet another BTC scam which will have the BTC move to the upper $5,700 region only to get pushed back down.
He explained his stance stating: “Seeing weak bearish moves all across the board here, think we get one more scam to move up with a harsh peak around 5777.”
The golden cross pattern is expected to be formed by the Bitcoin. If this pattern is formed, the trend will be bullish for the cryptocurrency. This pattern is indicative of massive volatility, which can lead the price of the Bitcoin to either move upwards or downwards. Whether the bulls or the bears will take the opportunity to strike is something that will unfold with time.
Experts have as well projected a widespread exposure to hacks by several cryptocurrency exchanges, stating thus: “While cryptocurrency custodians were perceived to be the least risky, our experts still estimated that before the summer of 2020 an industry-wide 10-15% of custodians would suffer from loss of funds due to a hack.”
The hacks are projected to be catalysts which might trigger a decline in the price of the Bitcoin. A macro-economic downturn is projected to serve as a catalyst leading to a decline in the price of the Bitcoin.
Given the disruptive nature of Bitcoin, a regulatory crackdown is a permanent risk factor for the price of the Bitcoin.
It is expected that the distribution of Bitcoin by Mt. Gox might bring down the price of Bitcoin as they hold nearly 70% of the Bitcoin transactions.
Robert Mueller, an American lawyer, and government official organized research. The research states that Bitcoin helped Russian investors to avoid a direct relationship with traditional banking institutions.
The recent research by the Mueller’s team states that trading Bitcoin on the exchanges will require the user to set up the Bitcoin Wallets, which will, in turn, be associated with email addresses. Federal investigators were able to track at least a few of these accounts. Thus making Bitcoin transactions even easier.
Robert Mueller has released a 448-page redacted document after 22-months of investigation. Mueller was appointed in order to investigate the alleged interference of Russia in the 2016 election for probable collusion with the Trump Campaign. However, the report has several sections edited to avoid legal and security issues. Such a kind of editing is termed as redaction. The report states how Russia used the Bitcoin to fund DNC Hacks.
The report states that GRU has a Bitcoin Mining Operations, which is used to secure Bitcoins in order to purchase computer infrastructure, which has been used in the hacking operations. GRU is Russia’s Foreign Intelligence Agency.