Is Future Of Bitcoin Going To Be Dark Due To Rampant Ransomware?
If we see the overall trend of Bitcoin then the price factor is remaining a reason to worry about. Recently it has seen an increase in price though the increase is a smaller range when compared with previous data. For the past two weeks, the currency had seen a downward trend and was a reason for a headache for its users.
It has been moving around at a price of $ 581 for the time being. The difference is rising when compared to the last record is around $ 10. This can be a positive sign but the price is affected by many factors for its downfall. The overall data for price range is not so impressive and one of the major threats to Bitcoin is through ransomware. The future of the coin is sensing a bit trouble due to this mentioned factor.
According to analysts the currency is trying to hold the ground and will see an rise in coming weeks .One of the major competitors is Us Dollar and plays a vital role in the downward slump of Bitcoin.
The pair of BTC/USD had entered into a range, forming a triangular pattern which gradually contracted resulting in rise of price for Bitcoin. This upward trend was due to some reasons like the pair traded above 50 % of the Fib retracement level since the last drop. Another reason is the price is above 100 simple moving averages. From these positive signs, Bitcoin is considered to bounce higher, showing a bullish run.
The real danger as stated by analysts of Bitfinex is poised by the hackers responsible for damaging the reputation of this currency. This unexpected rise in ransomware and malware is making the future of currency darker. The real owners have to pay to get back their own encrypted files.
As the Bitcoin trading is irreversible, so the investors have to be on alert. Moreover, the ransom amount can run as high as $1000. Due to security breaches, this virtual currency trading may see a downward tour.