Bitcoin News and Price Overview: Bitcoin Poised For Biggest Upgrade Since SegWit. Wednesday, July 18
US Attorney Implicates Bitcoin In Election Probe
In the United States, the deputy attorney general, Rod Rosenstein announced that the indicted Russian intelligence officers that hacked the Democratic Party system of computers used bitcoins to finance the scheme. The Revelation sparked a social firestorm with anti bitcoin campaigners using the situation to buttress their stance against the digital currency.
Half a dozen Russian intelligence officers were indicted last week over their roles in the hack of a system of computers belonging to the Democratic Party and their presidential candidate, Hillary Clinton, during the 2016 presidential election. The report says that the group used bitcoin, some of which were mined through their effort to fund the operation which was aimed at gaining access to damaging information about the candidate and disseminating same.
The news drew the attention of many social media users with one congressman posting on twitter that “the crypto industry needs to step up their game”.
Emanuel Cleaver who represents the Missouri 5th congressional district, in a tweet said, “I’ve been warning of the potential dangers of @Bitcoin being used for nefarious activities, now we know Russia used cryptocurrencies to fund their meddling campaign in 2016.”
Bitcoin Poised For Biggest Upgrade Since SegWit
Pieter Wuille, one of the influential Bitcoin developers has unveiled a draft that outlines the newest upgrade that the community is to expect soon. Schnorr is a project that has been in the works for years and aims to improve the scalability and privacy of Bitcoin.
Bitcoin Volume hits 36-Week Low As Coin struggles to Recover Losses
Despite the current positive price movement, last days were quite interesting for Bitcoin in terms of its stats and market behaviour. Bitcoin’s corrective rally has stalled since the coin couldn’t bridge the $6,400 mark as analysts predicted. The coin’s recovery has struggled to gain momentum as a result of low investor interest and this has brought trading volume to lowest value since last year. According to Coinmarketcap, the total trading volume on Saturday stood at $2.92 billion, the lowest since November 7. The sudden price spike to the $7500 region, lead to $6,110,650,000 daily trading volume, which is still significantly low compared to $23,000,000,000 at the beginning of the year.
BTC/USD Price Chart, Wednesday July 18th:
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