Bitcoin flirts once again with the $12,000

Bitcoin flirts once again with the $12,000

Joachim September 2020

Bitcoin (BTC) is flirting for the fourth time this year with the $12,000. Is crypto ready to finally break the record?

Bitcoin displays the $12,000
Bitcoin never tires of flirting with the key level of $12,000, despite being rejected over and over again.

At the moment, Bitcoin is priced around $11,975 according to Crypto Online, the Crypto Trend tool. In addition, BTC currently has a market capitalization of $221.5 billion, which is below the record for 2020 set on August 18.

Bitcoin weekly price chart (BTC). Source: CoinMarketCap.
Thus, Bitcoin flirts with $12,000 for the fourth time this year, however, as we’ve seen, changing the crucial resistance level to support has been a major challenge.

So, once again, Bitcoin seems to be struggling to get above $12K. Notwithstanding, characters as Max Keizer and the twins Winklevoss maintain the confidence in the crypto.

Max Keiser: Warren Buffett’s Rejection of USD Will Push Bitcoin

The price of Ethereum close to $500 but sustainability is questioned
The price of Ethereum (ETH) has reached $483 today, a maximum of 2020. Thus, during the last 24 hours, crypto has increased by 9.74%, currently valued at $479 according to Crypto Online, the CryptoTrend tool.

Ethereum has been involved in a bullish rally since mid-March that has taken it from its 2020 low of $110 to its new high of $483.

ETH has not seen these price levels since July 18, 2018, meaning that today it also reached a two-year high. This occurs in a context where gas prices and transaction costs have increased.

In fact, today Glassnode reported that transaction fees on the Ethereum network have reached a new record of over $500,000 in a single hour.

The news appears to be positive for the Ethereum miners, however, experts have become even more concerned about the short- and long-term sustainability of Ethereum.

Is there a rally coming up on the price of Ethereum?

Another user loses $ 430K in Bitcoin for phishing at Electrum
In yesterday’s crypto summary we reported that a user in GitHub claimed to have lost 1,400 BTC after accessing his Electrum wallet for the first time since 2017.

Now, another user has joined the conversation and claims to have lost 36.5 Bitcoin Rush two months ago. All this has happened due to an exploit in an outdated version of Electrum.

These are just two of the many cases that have been reported since 2018 as a result of a phishing tactic that has caused a massive transfer of funds to an unknown address.

This last user said that „some of the stolen bitcoins“ ended up in Binance, „but they ignore my appeals,“ he said. However, on Saturday, Changpeng Zhao commented on the case of the 1.4 BTC and assured that the address is on the crypto exchange blacklist.