We’re rounding up the end of this week with a long anticipated improvement, as the Bitcoin price broke out of the $610 mark and is currently at $614.48. The steady rise has begun this morning and shows signs of further increases, reviving our hopes of seeing it once again hit $620. But whether it will finally recover back to what it was worth prior to the Bitfinex attack, we are yet to see.
In other news from the Bitcoin world, the FBI have arrested a Connecticut man called Michael Richo on the account that he used an online phishing scheme to lure in users from the dark web and steal their Bitcoins.
According to the Department of Justice press release, Richo used a classic phishing scheme where he posted links to marketplaces on dark web forums that lead to a fake login page where he would steal their usernames and passwords. Once he allegedly stole their credentials, he later withdrew the Bitcoins when the real users tried to spend them and then resold them for US dollars. If he is found guilty on all charges, he could be facing a sentence of 57 years.
Bitcoin Up by 0.50%
Following the stalemate from the beginning on this week, things have been looking more positive in the past 24 hours during which the price touched the $615 mark. Although it might not be what we hoped for, the current value is still a nice improvement over yesterday, when it reached its lowest point of $609.84.
The price increase wasn’t accompanied by any drastic changes in volume, which remains virtually unchanged since our last update and now amounts to $56,639,100. However, what did change was the market cap, which jumped up to $9.8 billion.
Together with the market cap, the current trading situations suggests further possible increases, as both the technical indicators and the moving averages are sending a strong buying signal. Out of 12 technical indicators, 9 are pro-sell while only 2 remain neutral, while out of 12 moving averages only 1 is pro-sell while the others indicate a buying trend. But even though the market is currently inclined towards buying and suggests more increases, a close watch on changes is advised, as fluctuations can occur within the hour.
Chicago Cook County Test Bitcoin Blockchain for Public Records
The Recorder’s Office in Cook County Chicago, have recently announced an exclusive partnership with real estate startup Velox to start testing the use of Bitcoin blockchain for tracking and transferring property rights and similar public records.
More precisely, the Recoder’s Office will be testing blockhain apps for submitting liens, transferring property rights, as well as the transfer of vacant properties in the Chicago area. This is the first time that such an office has expressed interest in blockchain technology in the US.
According to Velox CEO and founder, Ragnar Lifthrasir, the company might have gotten the idea by the blockchain initiatives in other countries, where blockchain technology was used as an advanced database for land records. He also added that this project will see things go even further and implement Bitcoin blockchain for public records for the first time in the world.