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Google searches have a correlation with the current Bitcoin prices

June G. Bauer

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BTC prices and Google

There is always a relation between bitcoin prices and Google searches. It’s difficult to state whether searches lead to more expensive rates or the other way around, yet the connection up to this point has been shocking.

Bitcoin searches on Google, for instance, between June 19 and June 26 have increased by over 158% as indicated by media investigation organization SemRush.

“We also identified that there’s an 80.8% correlation ratio between Google searches and bitcoin price,” from June 19 to June 26, wrote Olga Andrienko, head of global marketing at SEMrush. A 100% positive correlation means that two variables are moving in perfect tandem.

Bitcoin costs BTCUSD, +9.92% this week had been organizing an explanatory ascent toward $14,000, which would have spoken to a generally 40% week after week return on the No. 1 digital currency on the planet, until additions started to crumble late Wednesday.

Most as of late, bitcoin costs were down an agitating 22% on Thursday, or $3,150, to $10,700, as indicated by FactSet information, in view of bitcoin prospects BTCM19, +3.55% costs exchanging on CME Group.

Certainly, regardless of the dive, bitcoin costs are still up about 7.5% on the week and 194% in the year to date.

By correlation, the Dow Jones Industrial Average DJIA, – 0.04% is down 0.6% so far this week, with a year-to-date ascent of almost 14%. The S&P 500 record SPX, +0.38% is on pace for a 0.8% week after week misfortune and a 16.7% addition in the course of recent months, while the Nasdaq Composite Index COMP, +0.73% is on track to shed about 0.8%, with an over 20% increase so far in 2019.

All things considered, the drop for those new to bitcoin’s unpredictability must container regardless of whether the advanced money has been generally rising. Thursday’s decrease speaks to the third-most honed day by day fall for the advantage on record, as per Dow Jones Market Data

Volumes for bitcoin, in any case, are important. A 90-day moving normal of exchanging the computerized cash demonstrates that increases are a long way from the foamy action of 2017 or mid 2018 (see outline underneath). Bitcoin achieved a top in December 2017 at around $20,000 and tumbled to a nadir at $3,194.96, after a year.

Pop cultureaholic, Technology expert, Web fanatic and a Social media geek. If you have any questions or comments please feel free to email her at [email protected] or contact her on Twitter @JuneTBauer1

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Bitcoin

Drug Dealer Loses Private Keys For $57m Worth of Bitcoin

Sying Tien

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An Irish drug dealer who decided to hide his fortune in Bitcoin has lost the private keys to his wallets that contained around 6,000 Bitcoin (around $57m) on them.

According to Irish Times, The drug dealer lost his keys after hiding them with his fishing rod, which has gone missing. The dealer bought most of the bitcoin in late 2011 and early 2012 using cash he made growing crops of cannabis.

In early 2017 he had around 6,000 bitcoin in one account but he feared it may be too easy for a hacker to hack it so he decided to spread his Bitcoin fortune across 12 new wallets and transferred exactly 500 bitcoin to each wallet.

He then printed out the private keys for his newly created accounts onto an A4 piece of paper and hid the paper inside the aluminum cap of his case containing his rod at his rented house.

He was arrested for growing weed at his house in 2017 and jailed for five years. The landlord decided to clean up the house and trough the dealer’s belongings away to a dump.

Garda officers said they were hopeful advances in technology would one day enable them to access the bitcoin so it could be sold.

Losing private keys to crypto wallets is a genuine problem for crypto that needs to be solved.

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Bitcoin

Egypt’s Dar Al Ifta: Using Bitcoin and Other Virtual Currencies Are Forbidden in Islam

M. Ali

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Egypt’s Dar al-Ifta, the Egyptian state-run Islamic institution assigned to issuing religious edicts, said on Thursday that egg freezing is permissible in Islam.

In a live video broadcast on Dar al-Ifta’s official Facebook page , Sheikh Awaida Othman, director of Fatwa administration, and the Secretary of the Fatwa in the Egyptian Ifta House, answered one of the questions posted during the live stream asking about Bitcoin, and if it’s allowed in Islam. The Sheikh answered question, saying: “It is not permissible in Islam to use Bitcoin, and we have issued a detailed fatwa before regarding this”.

Last year, Egypt’s Counselor of the Republican’s Mufti, Dr. Magdy Ashour, proclaimed that Bitcoin is pretty much a no-go as far as Sharia is involved, on the basis that its dealings might not be very Halal, given that you don’t know the morality behind any of the transactions involved with Bitcoin, and even going so far as to claim its use a tool to fund terrorism.

This is by no means the first time Bitcoin has received notable backlash in the country, hearkening back to the Head of the Egyptian Financial Supervisory Authority (EFSA) Mohamed Omran’s in 2017 statement that Bitcoin is pretty much illegal in Egypt and urging interested individuals to keep a distance from the cryptocurrency.

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PrivCoin Shuts Down Due to Extensive Regulations

Sying Tien

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The team behind PrivCoin , the nonprofit cryptocurrency mixer has decided to shut down the website due to “new and extensive regulations” in the European Union. PrivCoin will be donating all of their profits to charities.

A screenshot of PrivCoin’s announcement

PrivCoin offered cryptocurrency mixing service, which is a service that mixes different streams of potentially identifiable cryptocurrency. This improves the anonymity of transactions, as it makes crypto harder to trace. PrivCoin used to be the only online service that offered Bitcoin, Ethereum, Litecoin and Bitcoin Cash mixing in a safe and fast way.

PrivCoin’s services were recommenced by some of the big DarkWeb markets such as Empire Market.

Last week, US authorities have arrested and charged an Ohio resident for running “Helix “, a Bitcoin mixer service that supposedly helped criminals disguise the origin of Bitcoin transactions.

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