[BeyondCC Daily Update] - 25th February 2019
Bitfinex has announced that some of the bitcoin stolen in a major 2016 hack has been returned by the U.S. government. In a blog post published Monday, the exchange said that 27.66270285 BTC – worth just over $104,000at time of writing – have been received from the U.S. government, and come as the result of U.S. law enforcement efforts.Long-Term Bitcoin Price Indicator Turns Bearish, Suggesting Bottom May Be In
A lagging indicator has turned bearish for the first time in four years, suggesting bitcoin’s price may have bottomed out and that a new bull run could begin this year. As of press time, bitcoin’s 50-week moving average has dropped below the 100-week MA, confirming a bearish crossover – the first since April 2015. Long-term bearish crossovers, however, tend to occur at the end of a big bear move, with prices rallying soon after, as MAs are based on past data.