Cryptocurrencies in the Market Have Been Consolidating At Lower Levels

Steven Anderson By Steven Anderson October 14, 2019 Off
Cryptocurrencies

Bitcoin continues to be the favorite in the dark web.  A recent study which was published on Sunday revealed that hackers who were sponsored by North Korea have found a way to attack Apple Mac.

The Lazarus Group are the hackers who were considered by the US government to be sponsored by North Korea.  It is no suspected that they are trying to get in to Macs aided by a cryptocurrency software created by the front company.

Jamf Patrick Wardle, security research person stated, “The hackers created a fake company complete with an official-looking website. In this latest case, the North Koreans set up the front company, JMT Trading.”

The bulls are making it to action in the cryptocurrency market.  There is sufficient room for growth as cryptocurrencies in the market have been consolidating at lower levels.

Ethereum has been holding above $182 and the correction towards $200 did not materialize in the past week and it gave way for fresh losses.

Overall, the cryptocurrency market has been losing traction due to the growing indecision in the market. If the Bitcoin would trade past the $8,700 range, then this can open way to the $9,000 price strength.

Ripple’s XRP is vulnerable to further correction on the down trend. The XRP broke free from the long-term triangle pattern and it touched $0.286.

Halo, a trustless version of zero-knowledge proofs provides for a scalable solution, which can provide for several digital age real world applications which are beyond cryptocurrency.

Halo establishes the “proofs of proofs” using dramatic compression and computational requirements. It is expected that Halo “may turn out to be a building block for the next generation of the Internet and other such social infrastructure.”

There will be resistance from behavioral inertia, corporate incumbency and regulation. Cryptocurrency developers are working to create the needed fixes.

Dogecoin has made a spike by 7.36% overnight.  The value of the coin has not crossed 0.0024 USD.  The market cap has not expressed strength in the past 24 hours.  The bullish outlook for the token is likely to continue though.

Monero has been adopting to a new POW algorithm in order to work past the ASICs.  The ASIC machines are taking over the mining network and Monero is planning to switch over to a POW algorithm to improve its resistance.

Jordon Clifford recently tweeted: “1/ The Monero team will soon be changing its proof-of-work consensus algorithm in late October to RandomX. The Monero developer team believes that in order for the network to remain secure, ASICs must be kept off the network.”

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