Crypto newsletter: Bitcoin and Ripple ready for rally?

• Major cryptos are trading higher this week
• Bitcoin and Ripple testing key resistance levels
• Factom  initiated a liquidation procedure

 

This week, the cryptocurrency market is trying to recover losses from last month. As a result of the March 12 crash, market capitalization fell to $ 144 billion. Currently, market capitalization has reached $ 190 billion, and may soon reach $ 200 billion.

Yesterday Bitcoin failed to break above $7300 and declined slightly. On Friday price is approaching the round level at $7,000. If the bullish bias remains then Bitcoin price may take another attempt to re-test $7,300 resistance level. However breaking below the trendline will negate the upside scenario. Bitcoin dominance in the market has begun to rise again due to the recovery witnessed this week. CoinMarketCap shows Bitcoin taking up 65.3% of the entire digital market capitalization; Source: xStation5

Ripple is testing the major resistance zone between $0.1768 and $0.18. In case of a break above, there is a chance that price may reach $0.1988 resistance level. On the other hand, should bears regain control and break below the trendline, the coin may look to test the support at $0.1387. Source: xStation5

 

Crypto news:

According to Coindesk, the well-known startup blockchain Factom, which stood at  the beginning of  token sales, has filed for bankruptcy at the company failed to obtain an additional financing.

 

The Philippines Securities and Exchange Commission (SEC) have warned Australian and European investors that the Bitcoin Revolution project has clear features of the classic Ponzi scheme. Clients are offered an unrealistically high 300% daily returns on investment. The organizers claim that clients can become millionaires in just 61 days thanks to the unique software created by their company, which generates transactions with a success rate from 88% to 95%. Bitcoin Revolution operates without a license and offers unregistered securities in violation of Philippine regulations.

 

According to Guardicore Labs, the botnet named "Vollgar" has infected Microsoft SQL database servers for two years and used them to extract cryptocurrency v-dimension (vollar), which is simultaneously extracted by mining monero (XMR). Over the past few weeks, hackers have been able to infect almost from 2000 to 3000 servers a day. Botnet usually attacks poorly secured servers and then changes their configuration. Next hackers get full access to servers and start illegal mining of digital currencies in the background. The countries in which the attacks took place are: China, India, South Korea, Turkey and the United States. Hackers gained access to servers of many companies from various industries, including healthcare, logistics, IT, telecommunications and education. Guardicore has released a special script, available on GitHub, which allows to check which servers were hacked.

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