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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Bitcoin Sellers Determined Despite Apple, Samsung Plans

Dalmas Ngetich
Dalmas Ngetich
1 year ago
3 mins read

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Created by industry experts and meticulously reviewed
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  • BTC down 11.5 percent
  • Samsung, Facebook and now, Apple finding opportunity in crypto

Apple plans to upgrade and release a new cryptographic developer tool replacing its superb CommonCrypto. All in all, it is a favorable decision following the steps of Samsung. At the time of writing, Bitcoin is stable and struggling against determined sellers.

Bitcoin Price Analysis

Fundamentals

At a time when Facebook, Samsung, and leading Wall Street tech leaders are foraying into blockchain and crypto, Apple is joining the crypto bandwagon. In a measured announcement during the Worldwide Developers Conference in Cupertino, Apple shall unveil a CryptoKit accompanying the release of their latest operating system, the iOS 13.

The “cryptographic” developer tool will replace the CommonCrypto, which is Apple’s previous framework. With this, developers will now execute hashing operations, generate keys, and altogether manage their crypto processes in a “secure enclave achieving a similar level of security to hardware wallets.”

Alejandro Machado, the co-founder at Open Money Initiative, said:

“For the first time, developers can leverage the secure enclave to manage a ‘user’s keys in an iPhone, achieving a similar level of security to hardware wallets.”

While Apple upgrades, Facebook is doing everything they can to avert another crisis. Their plan of launching a stable coin and possibly monetize WhatsApp via Project Libra may draw heat. That could explain why their representatives are consulting with the Winklevoss Twins as well as the US CFTC.

Related news has it that Mark Zuckerberg’s team will have a Foundation in place to deflect talk of possible centralization while concurrently complying with ‘regulators’ demands.

Candlestick Arrangement

Bitcoin BTC

Meanwhile, Bitcoin (BTC) is under pressure. After two months of higher highs, prices are cooling off, allowing for a bear assault. At press time, BTC is down 11.5 percent week-to-date and stalling at $7,800. From the daily chart, buyers are in control.

However, after an extended rally that saw BTC clear $6,000 and retests $9,100 in short bursts, the retracement was inevitable. Even so, strong support is at $7,500 with caps at $8,500 and $9,000. Since BTC is consolidating against the USD, aggressive traders can buy the dips aware that any fall below $7,500 cancels this bullish outlook.

Such a breach, and as emphasized in previous BTC/USD trade plans, could spur a selloff towards $6,600 and to $5,600 or April high. That will complete a retest typical of breakouts.

Technical Indicator

Leading this trade plan is June 4th bear candlestick. Behind its extensive trade range is high participation of 30k against 17k.

Therefore, for trend continuation, any upswing above $8,500 that rewind losses of June 3rd  and 4th, must be with volume swells above 30k complementing those of May 26th.

Conversely, any fall below $7,500, canceling this trade plan must be with equally high trading volumes.

Chart courtesy of Trading View. Image Courtesy of Shutterstock

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Dalmas Ngetich
Dalmas Ngetich

Dalmas Ngetich

Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape.

Read more

His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto.
The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance.

His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry.

Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion.

Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers.

DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations.
Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language.

Dalmas is here to help make the tech easy to understand and digestible, even for beginners.
The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential.
This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting.

Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature.

When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills.
You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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