$600 Almost Hit Over the Weekend

The hack attack at Bitfinex not only left the exchange closed and short for $65 million in Bitcoin, but it also seriously hurt the cryptocurrency’s reputation. Immediately after the attack was revealed to the public, the value of the Bitcoin plunged and fell under $600. However, days after the infamous event the price per coin seems to be getting stronger and our Bitcoin price chart shows that during the weekend it almost hit $600.

Even though reports reveal that Bitcoin exchange customers have lost 36% of their money after the attack, the cryptocurrency trading is slowly recovering and the even Bitfinex announced it plans to reopen by Monday. Therefore, those that were hoping to see the Bitcoin miserably fail and disappear are once again proven that the world’s most popular digital currency can take strong blows and get back on its feet nonetheless.

Bitfinex Lost To Be Spread Among All Users; Coursera Offers Bitcoin Education

Before moving on to some interesting and positive Bitcoin related news, we would like to let affected Bitfines traders know that the exchange plans to spread the lost among all its customers. This means that even those that weren’t directly affected by the hack attack will feel its consequences and could possibly lose the previously mentioned 36% of their money. On one hand, this is good for those that lost the majority or all their coins, but bad for those whose profiles weren’t robbed. Bitfinex customers’ response is yet to be heard.

However, not everything is so dark and negative; quite on the contrary. It was reported that a major Portsmouth restaurant now accepts Bitcoin payments, making it possible for New Hampshire Bitcoin users to be able to purchase tasty dishes with their coins in no time. Additionally, the reputable education platform Coursera is yet another place that offers Bitcoin education; to make things even better, Coursera’s course on Bitcoin is completely free. Finally, we would like to remind you that according to Kim Dotcom, the revived Megaupload platform would run on Bitcoin micropayments; thus, that’s something to look forward to as well.

Volume Drops after the Weekend Rise

Considering the fact that in Friday the volume has been quite high over the $100 million mark, it wasn’t that surprising to see the Bitcoin moving upwards. However, today the 24-hour volume has dropped at $75,584,100, meaning such rises are quite unlikely to happen in the days to come. The market cap is still over the $9 billion, with an exact value of $9.29 billion.

In terms of price movement, the current trading value of the Bitcoin is set at $588.19, a change of -0.03% in the past 24 hours. The day’s lowest point was $589.68 and it was hit right after the high of almost $600 was recorded; yesterday afternoon the Bitcoin reached $597.41. Most of the time during these past 24 hours the cryptocurrency’s price has been over the $590 threshold and that’s a positive thing.

Our prediction that the price won’t be going up again soon is supported by the technical indicators’ and moving averages’ signal; both of them suggest the price will fall with seven indicators and eight averages sending the sell signal. Only one indicator and four averages are pro-buy, whereas the rest of the indicators are neutral.

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