Bitcoin Price Up Over 17% in 24 Hours: BTC Emerges From Its One Week Hangover

After the wild party that ended with the Bitcoin price reaching $13,813―its highest level in 2019―on June 26 (19:00 UTC), came the one-week hangover that took the price down all the way to $9,782 on July 2 (07:00 UTC). Now, though, the Bitcoin price is looking a lot healthier, having gone up over 17% in the past 24-hour period.

First, here's the two-week price chart that illustrates what a rollercoaster period this has been for Bitcoin, the rise from $9,155 on June 19 (06:00 UTC) to $13,813 on June 26 (19:00 UTC), the fall back to $9,782 on July 2 (07:00 UTC) and the rise to $11,566 (05:30 UTC) on July 3:

BTC - 2 Week CC Chart - 3 July 2019.jpg

And at the time of writing (July 3, 06:15 UTC), as you can see in the 24-hour price chart below, Bitcoin is trading at $11,455, up over 17% in the past 24-hour period:

BTC - 24 HOUR CC CHART - 3 JULY 2019.png

Currently, the total reported market cap for all coins/tokens is $311.5 billion, while Bitcoin's market cap is $205 billion.

Although Bitcoin's price is still down 43% from the all-time high (ATH) it reached in December 2017, it's year-to-date return on investment (ROI) is an impressive +211.36%.

All the other coins/tokens in the top 30 are currently in the green. Here are how some of the most popular altcoins are doing at the moment:

Altcoins - 3 July 2019.png

The three biggest gainers (with respect to USD) in the top 30 (by market cap) are:

  • #15 Chainlink (LINK): $3.74 (+12.30%)
  • #21 Tezos (XTZ): $1.12 (+28.60%)
  • #24 Maker (MKR): $655.92 (+13.81%)

As for what the top crypto analysts and traders think about Bitcoin's latest price action, here are a couple of reactions:

 

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Crypto Scammers Responsible for $24 Million in Bitcoin Theft Through First Half of 2020: Report

Michael LaVere
  • New Whale Alert report shows crypto scammers have raked in $24 million in bitcoin through the first six months of 2020.
  • One scammer leveraged YouTube advertising to steal $130k in BTC per day. 

Crypto monitoring service Whale Alert has published a report showing that crypto scammers are responsible for $24 million in bitcoin theft through the first half of the year, including the exploitation of YouTube advertising. 

According to the report “Chasing Crypto Criminals” published July 10, cyber-thieves are finding easy prey in the form of bitcoin and other crypto-asset investors. Whale Alert summarized its exhaustive reviews of hundreds of websites and thousands of reports of theft as “crypto crime pays. A lot.” 

Whale Alert claimed there was little risk involved for crypto-based criminals, despite the massive economic impact being imposed on victims. The report confirmed at least $38 million in bitcoin alone being stolen via scams over the past four years, excluding the use of Ponzi schemes. 

The report reads, 

Some of the most successful scams made over $130,000 in a single day with nothing more than a one page website, a bitcoin address and a decent amount of YouTube advertising.

Whale Alert outlined another scam which brought in $1.5 million over six months through promoting a fake cryptocurrency exchange. The report claims the advertisement took victims to an “amateurish website riddled with spelling errors,” before tricking users into depositing their funds. 

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