Bitcoin Almost Hits $630; Changes Mind Instead

Anyone interested in the Bitcoin, also known as the world’s most popular cryptocurrency, is probably extremely anxious to see the currency reaching the $630. However, the Bitcoin is dancing under the mark and gave traders false hope more than once in the past 24 hours.

Not everything is bad though, considering the fact that the cryptocurrency noted a jump and hit the $620 threshold. These numbers are great, especially after the Bitcoin was stuck around $570 for quite some site after the infamous attack of Bitfinex.

Additionally, the Bitcoin has gone mainstream thanks to a brand new TV show that could bring it closer to thousands of people. Plus there are some new recommendations from the FBI regarding Bitcoin ransomware. Thus, it’s been eventful two days since our last post on Wednesday.

Volume Grows as Price Hits Daily High of $628

So, let’s first take a look at the impressive movement on the price chart. As you can notice on the recordings from the past week, ever since 3rd of September the Bitcoin has been moving upwards. It first hit $600 late that day, then reached $610 on 4th of September and today the $620 was recorded as well.

The current trading price of the Bitcoin is $620.06, which is a bit lower than the highest price seen in the past 24 hours; its value was $628.10. The day’s low was seen not too long ago and it was $619.75.

With this latest movement the market cap has increased too. Therefore, from $9.66 billion on Wednesday, today we can see it at $9.87 billion. The volume has improved too and reached $82,791,800. However, even though this value may signal price jumps, the indicators tell a different story.

Namely, only one indicator (MACD) advises traders to invest and buy Bitcoin. A much larger number of eight indicators sends a pro-sell signal. Additional two indicators are neutral. Moreover, the STOCHRSI warns that the Bitcoin is oversold, meaning its value may decline.

The situation among the moving averages is undecided due to the fact that six of them are pro-buy and the other half are pro-sell.

Startup Brings Bitcoin to Thousands of Viewers

The world has finally witnessed the first Bitcoin-related TV show named Startup. This 10-episode series is part of the Crackle program and, according to Fortune, it gets Bitcoin right. With two popular cast members (Adam Brody and Martin Freeman) and a fierce female protagonist, this show helps the cryptocurrency go mainstream and reach new users. Startup even got the attention of New York Times, which treated it with a decent review of the first episode.

In more serious news, the FBI has recommended people targeted by Bitcoin ransomware extortionists not to pay. Even though in a previous statement the authority has encouraged victims to do exactly the opposite, its stance has obviously changed in the meantime. According to agent Will Bales, people paying ransom were encouraging extortionists to move to another target; thus, this trend should be stopped asap.

Lastly, there were some hints that Italy wants to tax digital currencies, Bitcoin included. However, the information released by Agenzia della Entrate reveals that only speculative use of cryptocurrencies would be taxable. Purchases and sales with such currencies would remain exempt from VAT.

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