The hacking group threatened the billionaire for his recent Twitter posts regarding Bitcoin and other cryptocurrencies; although some users doubt that it was the real Anonymous.

The famous hacker group Anonymous posted a video this weekend with a threatening message for Tesla and SpaceX CEO Elon Musk.

Wearing the group’s famous ‘Guy Fawkes‘ mask and through a voice distortion device, the group sent a disagreeable message about Musk’s behavior on social media through his posts about cryptocurrencies. The group started their video with a “Greetings world. This is a message from Anonymous, to Elon Musk ”.

During the broadcast, Anonymous spoke about reports that appeared in media outlets over the years and openly accused Musk of forcing unethical working conditions within his companies. After being critical of the billionaire’s work history, the hacking group focused on his posts about cryptocurrencies and the CEO’s behavior on Twitter.

Anonymous says Musk’s behavior moves with arrogance and calls him a “wealthy narcissist.” Anonymous also highlighted that the reason Tesla exposed its adoption of Bitcoin was so that green money from the US government keeps moving to the company.

The hacking group also judged Musk’s strategies to found a miners council, noting that the strategy would mean that the billionaire would monopolize the industry. The video ultimately slammed Musk’s tweets about the cryptocurrency market, claiming they destroyed lives.

Was it Anonymous who threatened Musk? There Are Doubts About it

The hacker group’s message came right after Musk tweeted “Bitcoin” alongside a broken heart emoji, which caused a sudden fall in the cryptocurrency’s price. The Bitcoin market has been facing a rough decline in recent weeks, in parallel with various posts from the CEO on Twitter.

The price of the main cryptocurrency crumbled down over 50% from the all-time high of $ 64,500 in a downtrend triggered last month by Tesla’s suspension of payments with BTC due to alleged environmental concerns.

Given the anonymous and decentralized nature of the hacker team, it is not possible to determine the legitimacy of the video and the certainty about the  Anonymous group. Although the video reunites most of the features the group has used on previous videos that gained legitimacy.

Forbes was one of the outlets that questioned the legitimacy of the post, citing that Anonymous’s most popular Twitter account, YourAnonNews, with some 6.7 million followers, denied being the authors of such a video. When asked if they could confirm that the video was posted by them, the response was: “Once again, all the best, but no.”

Musk seems to be ignoring Anonymous’s allegations, although an enigmatic tweet posted by the billionaire on Saturday afternoon shows all the features of a strike-back to the video. He wrote: “Don’t kill what you hate. Save what you love.”

Musk also changed his Twitter profile photo right after the tweet. He added a filled black circle that could mean a  remarkable reference to the color most associated with Anonymous.

By: Jenson Nuñez

Stablecoins are near the all-time high and are accumulating and waiting to return to Bitcoin. The waves of Bitcoin (BTC) hitting exchanges to find a sale have subsided.

Analyst Willy Woo, after he reviewed the metrics of the Bitcoin blockchain, concluded that the cryptocurrency remains in a bull market and there are chances of a speedy recovery in its price, reaching an all-time high by the end of this year.

In issue no. 20 of the Bitcoin Forecast, released on June 2, Woo finds that Bitcoin is oversold relative to its fundamental price. According to Woo, the on-chain data highlights that the price of BTC will rebound and move to higher prices in the latter part of this year.

He also expects a quick recovery from $ 55,000 to $ 65,000 within 4-6 weeks. He adds that downside risk is limited, as we are in a region where BTC is facing a heavy oversell, which is relative to the fundamental price.

Users Keep Increasing their Numbers

Woo’s on-chain analysis shows that the number of Bitcoin users keeps rising, even in the face of decaying prices. It clarifies that a key indicator of a bear market is that user growth begins to slow.

This has been true for all bull markets in the history of Bitcoin; These end when there are no new buyers to sustain the higher prices. At the moment, the on-chain data shows that people are still buying.

Lots of Money on the Sidelines Ready to go in with Stablecoins

When Bitcoin meets a sale there are two options. The first is to return to fiat currencies through banking routes, which needs a more complex and structured process; the second is to purchase stable coins. This last option usually serves for those who want to protect themselves from the price drop but who intend to be ready to purchase bitcoin again quickly and more easily.

A decline in the stable coin supply ratio (SSR) shows an expansion in the stable coin supply relative to the size of Bitcoin. That is a large amount of digital USD with a necessity to buy Bitcoin.

Woo explains that the drop indicates better use of stable coins and is currently close to an all-time high. Which indicates a typical bottom zone of the market. He clarifies that this does not exclude that the price may fall short, but it does suggest that the disadvantage is not too big in comparison to historical norms.

The analysis shows that the waves of BTC coming to exchanges to be sold have slowed, which indicates that fewer people are interested in selling. If the decrease in volatility joins the situation, then users could be experiencing a price decline near the bottom.

Bitcoin: It is Time to Payback

Woo explains that in the modern era of BTC there have been three crashes of around 50%. The first, when the capitulation at the end of the bear market of 2018. The second, with the impact of the white swan of COVID19; the third would be the current correction.

Using Glassnode’s liquid supply change metric (in the graph below), we can see the currencies moving between strong hands (long-term investors that don’t sell much) and weak hands (speculative forks that buy and sell).

By: Jenson Nuñez

The mayor of Miami confesses that, for his estate, he bought Bitcoin when the US Congress approved the stimulus bill of USD 1.9 trillion.

Miami Mayor Francis Suárez has commented several times during the year that he intends to introduce the crypto ecosystem to the city, and make Miami the most crypto-friendly of cities. He said that he has purchased Bitcoin and Ether for his wealth but has been too busy to buy in the recent crash.

The mayor of Miami reported that he acquired Bitcoin when the US Congress passed a $ 1.9 trillion population stimulus bill in March to combat the Covid-19 pandemic. On the CNBC Squawk Box show, Suárez also revealed that he not only owns Bitcoin (BTC), he also purchased Ether (ETH).

For Suárez, the approval of the bill would generate inflation. On this matter, he stated that inflation was inevitable and that there had to be some type of coverage.

It is also relevant to consider that, at the time of the approval of the stimulus law, Bitcoin soared beyond USD 54,000 on the way to reach its current all-time high above USD 64,000. Along with BTC, the other cryptocurrencies also increased, but then they all fell between 40% and 50% in May. But Suarez said he could not take advantage of the current drop, stating that he did not buy down, but he currently wants to.

Elon Musk is a Volatility Trigger

Francis Suárez also highlighted the influence that Elon Musk, CEO of Tesla, has on the volatility of prices in the crypto world. He talked about the volatility of Bitcoin this year, which fell from the all-time high of over $ 64,000 to half. He mentioned that Elon Musk was one of the triggers that caused this volatility.

He said that this situation is something that has to fix itself, and with enough transaction volume things will find more stability. The mayor also clarified that he is a great admirer of Elon Musk; However, in no other market except BTC, an influencer can boost the price of the asset by as much as 10 or 20 percent with just a single tweet.

Suárez also admitted that Bitcoin is a “young and easy to manipulate” asset. He again referred to Elon Musk’s tweets and even his video in a tweet about Bitcoin, which had more than seven million views in one day.

However, the mayor believes that a large number of people are becoming more interested in cryptocurrencies. He cited a recent media report that claimed that more than 150 million people own cryptocurrencies in the US.

Miami and the CryptoWorld

Miami is also fast becoming a major crypto hub in the United States of America. Or at least, it is the intention of the mayor who has proposed, among other things, that Miami as a city, invest in crypto and bring public employees the possibility to receive salaries based on Bitcoin.  

The Major’s interest has been for this city in the southeastern US to become a kind of “Crypto Valley”, which is why he has invited mining companies to move there.

By: Jenson Nuñez

After the recent general collapse, it seems that Tezos will resume its bullish trend to reach USD 5.74 per unit. This cryptocurrency has not made relevant profits but has kept pace with the general sentiment, reaching higher lows and highs.

A cryptocurrency that has least benefited from the current big bullish cycle of the market is Tezos (XTZ). An analysis indicates whether the cryptocurrency will be able to take advantage of new widespread gains.

Currently, XTZ is trading at around USD 3.50, accumulating a gain of 14.41% in the last 24 hours. A market capitalization of more than USD 2,916 million places it 45^th in the cryptocurrency ecosystem.

Due to the long delays in launching the Tezos ICO, many of the initial investors were disappointed. When the token finally entered the market in July 2018, it wreaked on the price.

However, a massive sell-off of Tezos has allowed its price to recover slowly but steadily.

In principle, the Tezos network offers high energy efficiency and compatibility with smart contracts, such as Ethereum.

Although it has fulfilled its purpose, its adoption does not seem to have been as expected. For that reason, it has gained a very low position in the market ranking.

These Are the Trends of Tezos, According to a Technical Analysis

The daily price chart of Tezos shows a behavior very similar to that of a large part of the market. In other words, the token is moving sideways with some bullish tilt.

After the recent general collapse, Tezos and many other cryptocurrencies suffered slightly more losses. However, bears failed to reach a lower effective low, suggesting a possible bottom.

The bearish trend in the short term is still prevalent and could put immediate supports to the test again. However, the strong rejection of low prices seems to indicate that the larger trend may be exerting pressure.

It is more likely that there will be a bullish escape and a consequent resumption of that larger trend. To confirm that, the price of Tezos must break the resistance at USD 4.19, thus being free to reach USD 5.74.

Before that happens, there may still be some bearish lashes in the price of Tezos. If it loses the resistance at USD 3.43, it could quickly drop to USD 2.90, the most important level to hold in the short term.

This is the XTZ Price Forecast

The monthly chart shows a more complete view of the price action of Tezos. It is possible to note that the fall in May did not put a higher bullish intention at risk.

Although the cryptocurrency has not made substantial profits, it has kept pace with the general sentiment. It has been able to achieve higher lows and highs on the monthly chart.

The bearish candlestick of May managed to reach what looks like a higher low before continuing the trend. This direction could easily push the price toward the all-time high zone, close to USD 10.

The body of the May candlestick made support above USD 3.24, so the next push may already be under development.

Losing that level of support would lead to selling as high as USD 2.49. Below that is the level that keeps the bullish trend in the medium term, which is at USD 1.91.

By Alexander Salazar