• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news Bitcoin

Crypto Tidbits: Bitcoin Plunges Under $9,000, Bitfinex and OKEx DDOS Attacks, Warren Buffett Bashes Cryptocurrency Again

Nick Chong by Nick Chong
12 months ago
in Bitcoin, Cryptocurrency news
Reading Time: 4min read
Traders Expect Bitcoin Price to Explode Big in Next Week: Will It Happen?
Advertisement

Another week, another round of Crypto Tidbits. Wow, what a past seven days for Bitcoin, cryptocurrencies, and global markets overall.

Bitcoin saw a blood-red week, to say the least, falling from $10,000 on Sunday to a low of ~$8,480 within a few days’ time as buyers failed to keep the asset above the key $9,500 support. Altcoins saw an even worst performance, with Ethereum, XRP, Litecoin, amongst countless other top cryptocurrencies plunging 15% as they followed BTC lower.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

The crypto market carnage seen over the past week came as global markets, from stocks and commodities, started to crash across the board. The Dow Jones posted its worst point performance in history on Thursday, falling by over 1,000 points as American stocks came under a coronavirus crunch. Gold also fell under $1,600, plunging after reaching $1,700 as investors tried to leverage the asset as a safe haven.

The fact that effectively all assets fell this week was a sign to some investors that Bitcoin and crypto’s weakness may be only temporary.

Indeed, due to the potentially flagging U.S. economy caused by a decrease in consumption and industrial activity because of coronavirus fears, the Federal Reserve has hinted that it may cut interest rates in the near future, adding to Bitcoin’s bull case. 

Aside from the tumultuous market, the underlying cryptocurrency industry saw an equally as tumultuous week, with there being a number of news stories showing the growth and adoption of these technologies, though others casting light on issues within this space.

Related Reading: Crypto Tidbits: Bitcoin Plunges to $9,500, $45m BCH SIM Swap, IRS Focused on Cryptocurrency

Bitcoin & Crypto Tidbits

  • Top Bitcoin Exchange Bitfinex Hit With DDoS Attack Just a Day After OKEx: On Friday morning, leading crypto platform Bitfinex began “investigating what seems like a distributed denial-of-service” attack (DDoS) attack on its exchange. Data from the site showed that the site response time and data throughput started to vary dramatically at 6:40 am GMT, eventually reaching a point where the site crashed around 8:00 am GMT, spurring the exchange to respond. About an hour after it began investigating the attack, services for the exchange came back online. This came a day after OKEx, one of the largest Bitcoin exchanges in Asia, reported a DDoS attack that didn’t affect any users. OKEx’s CEO accused a “competitor” of launching the attack.

Services on the Bitfinex platform have resumed. We implemented a stricter protection level as a result of our platform coming under a Distributed Denial-of-Service (DDoS) attack. All issues relating to the DDoS attack have now been resolved.

— Bitfinex (@bitfinex) February 28, 2020

  • Warren Buffett Bashes Bitcoin & Crypto Yet Again, Even After Tron CEO’s Dinner: In an interview with CNBC, Berkshire Hathaway CEO Warren Buffett said that he will never own cryptocurrency, adding that digital assets, Bitcoin included, has no inherent value: “Cryptocurrencies basically have no value and they don’t produce anything. In terms of value: zero.” This comment from Buffett regarding Bitcoin is reminiscent of his previous statements on the matter, such as when he called the cryptocurrency “rat poison squared” and saying that the asset has not much more value than a suit button. While Buffett’s words hold weight in public circles, not everyone in the crypto space is convinced that what he has to say about Bitcoin is relevant, despite him being a legendary investor. Industry investor Anthony Pompliano explained that “I really don’t take technology advice from somebody who uses a flip phone or doesn’t use email.”
  • Simpsons Talked About Crypto in Sunday’s Episode: On Sunday’s episode of The Simpsons — dubbed “Frinkcoin” because the episode’s A-plot centered around a cryptocurrency built by character Professor Frink — the show makers included a two-minute segment of a Simpsonified Jim Parsons, the actor behind The Big Bang Theory‘s Sheldon Cooper, discussing cryptocurrency. During Parsons’ explainer, a few key topics were mentioned: how blockchain underpins Bitcoin (and other crypto assets) and how the ledger works, including the distribution of nodes/ledgers and how blocks are added to the chain). This writer noticed some, say, shortcomings in the script, but he can give it a pass.
  • G20 Advises Crypto Crackdown: According to an official G20 communique published this week, the finance ministers and central bankers of the group want member countries to implement the “recently adopted FATF standards on virtual assets and related providers.” The guideline suggests that all entities dealing with cryptocurrency should be actively collecting the customer information of those involved in transactions. The FATF advises the collection of data including the name of the transactor, their location, and the name of the beneficiary of the transaction.
  • Ripple Secures Partnership: Announced in a blog post published Wednesday, Ripple’s partnership with Azimo will see the latter company use On-Demand Liquidity (ODL) as a “part of its remittance capabilities into The Philippines,” with plans to expand the use of the solution in the future.
Featured Image from Shutterstock
Tags: bitcoinCrypto Tidbitsmarket
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Related Posts

takaxa

Taraxa’s Steven Pu on the Elephant-in-the-Room Problem With Informal Transactions, and How He Drives the dApps Adoption With Slack-Inspired Go-to-Market

24 mins ago
Bitcoin Analyst Explains Why Traders Should Buy Altcoins All March

Bitcoin Analyst Explains Why Traders Should Buy Altcoins All March

21 hours ago
Dash Investment Foundation Considers Buying Tesla and Coinbase IPO Shares

Dash Investment Foundation Considers Buying Tesla and Coinbase IPO Shares

22 hours ago
Bitcoin Exchange Suffers Massive Outflow as BTC/USD Drops

Bitcoin Exchange Suffers Massive Outflow as BTC/USD Drops

23 hours ago
How to Maximize Your Yield Farm Gains

How to Maximize Your Yield Farm Gains

2 days ago
Bitcoin Exchange Coinbase to Go Public; What Does It Mean for BTC/USD?

Bitcoin Exchange Coinbase to Go Public; What Does It Mean for BTC/USD?

2 days ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Bitcoin Gaming Platform FreeBitco.in Acquires 3.75 Billion FUN Tokens

February 26, 2021

60-Minute IFO, 187 Times Over-Raised, 40 Times the Price, 98 Million US Dollar Marketcap: Berry Data Has Become a Bright Star on BSC

February 26, 2021

Get Your Brand New Tokens on Defiqa’s Presale

February 26, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.