An analyst predicted the current price of Bitcoin already three months ago

In August, Preston Pysh predicted that shortly afterwards the price of Bitcoin would soar: $20,000 by Christmas?

Will Bitcoin (BTC) reach a new high by Christmas? It seems to be an overly cautious forecast given the latest developments, but an analyst had estimated the current levels already in August.

Preston Pysh, co-founder of The Investor’s Podcast Network, predicted that the value of the BTC/USD pair would increase by 90% by the end of the year when the cryptocurrency was still fluctuating around $11,000.

Pysh: year-end growth will be „crazy

In particular, during an episode of the Swan Signal podcast, Pysh had stated:

„It should reach a new all-time high by Christmas 2020. This means that, from current levels, we will see growth of 80-90%. This is crazy, because there aren’t many months between now and Christmas.

So I think there could be a leap between now and the end of the year […] for which few people are prepared“.

He then added that gold will not be able to match Bitcoin Trader growth: a forecast that proved to be accurate, since after the U.S. elections the price of precious metal has not increased.

This Tuesday the BTC/USD reached a peak of $18,400, ending the day in positive 10%. These excellent performances allowed the cryptocurrency to reach its highest market cap ever.

Pysh was already in the spotlight thanks to a discussion on Twitter, where he highlighted the most common errors on Bitcoin and its security. This week he cited another statement from him in August, in which he expressed support for PlanB’s Stock-to-Flow model.

As pointed out by the PlanB analyst himself, Bitcoin is currently behaving exactly according to S2F’s expectations.

„I remember publishing this tweet in August, and all the traditional financiers thought I was crazy. Guess what, it’s simple math,“ Pysh commented this week.

The opinion of traditional finance is changing

Speaking of traditional financiers, recently Ray Dalio, an investor known for his criticism of cryptocurrency, admitted he did not understand Bitcoin. „Something may be unclear to me about Bitcoin and I’d like to be corrected,“ he commented on Twitter.

U.S. billionaire Stanley Druckenmiller also changed his mind about Bitcoin, claiming that cryptocurrency has the potential to be an excellent store of value for future generations:

„Bitcoin could be a very attractive asset class as a store of value, both for millennials and new money on the West Coast … partly because they already have a lot of it. It has existed for 13 years, and day after day its brand is becoming more and more stable“.

Cardano (ADA) approaches crucial resistance zone

The ADA follows a descending resistance line.

There are resistances at $ 0.115 and $ 0.125.

The price evolves inside a symmetrical triangle of short term.

The price of Cardano (ADA) has been on the rise since September 24. It has reached a significant resistance zone, in place since its July highs.

While a short term move above current resistance is likely, the longer term trend appears to be bearish.

ADA hits resistance

ADA price follows a descending resistance line from its July 26 high at $ 0.154. The decline that followed that peak turned out to be rapid, peaking with a low of $ 0.075 on September 24.

Although price has since rallied, it has yet to break above its old downward resistance line. The latter also coincides with the fibonacci level 0.5 of the entire downward movement.

If the price breaks its resistance, the next size resistance will be at $ 0.125.

A possible advance

In the time scale over the day, the indicators are neutral / bullish. The MACD is above 0 and the RSI is above 50, but their slope is neutral, signaling a gradual rise.

Additionally, there is no bullish divergence, and the Stochastic Oscillator has yet to form a bullish cross.

That said, the two-hour data chart suggests a likely passage of resistance.

The price evolves in a symmetrical triangle, which is a figure of neutral extension. Knowing that it appeared after an upward movement, it is likely that the price will eventually overtake this triangle.

In addition, both the MACD and the RSI are rising slightly faster, signaling a future move above the triangle. The price should therefore rise towards the aforementioned areas of resistance.

Kodrevisor säger att Axion-hackare utnyttjade

Kodrevisor säger att Axion-hackare utnyttjade ett tredje parts beroende

  • CertiK har kommenterat gårdagens attack mot Axion (AXN).
  • Revisionsföretaget säger att attacken sannolikt utfördes av någon som var ansvarig för att distribuera Axions kontrakt.
  • Hackaren stal 27 miljoner dollar av AXN-tokens under attacken.

Dela den här artikeln

CertiK, en blockchain-granskningsutrustning, har kommenterat gårdagens Axion-hack och avslöjade att angriparen utnyttjade projektets beroenden från tredje part. Revisorerna tillade att någon inom Bitcoin Era projektet sannolikt genomförde attacken.

Insiders Sannolikt Led Axion Attack

Enligt en HackMD-artikel publicerad av CertiK var attacken „planerad från insidan.“

Aktörer som var involverade i Axion-projektet injicerade skadlig kod före Axions distribution genom att ändra sina OpenZeppelin-beroenden. Den injicerade koden gjorde det möjligt för angriparen att fritt mynta 80 miljarder AXN-tokens.

Eftersom koden injicerades vid utplaceringsstadiet misslyckades CertiKs ursprungliga granskning av koden att förhindra attacken.

Yvan Nasr, CertiK: s chef för professionell service, berättade för Crypto Briefing att Axion sannolikt „slog samman koden för projektet med rätt beroenden tillsammans och sedan manuellt infogade sin skadliga kod i OpenZeppelin-beroendet före utplacering.“

Alex Papageorgiou, säkerhetsingenjör på CertiK, tillade att „distribuerarna med största sannolikhet var Axion-medlemmar, eftersom den som distribuerade kontrakten också kunde ställa in särskilda ägarroller … så de ansågs redan betrodda“.

CertiK har inte spekulerat i angriparens exakta identitet. Det anser dock att attacken „bara kunde ha gjorts av de som distribuerar projektet.“

27 miljoner dollar stulna AXN

Utnyttjandet mot Axion gjorde det möjligt för den okända angriparen att prägla 80 miljarder AXN-tokens och sedan sälja dessa tokens på Uniswap-börsen. Före attacken var det beloppet värt $ 27 miljoner, även om tokens pris nu har kollapsat till $ 0.

För att förbereda sig för attacken cirkulerade hackaren 2.1 ETH på för integritet. Angriparen köpte också 700 000 HEX2T-tokens som en del av en „rökskärm“, säger CertiK.

Även om attacken var betydande i termer av dess dollarvärde, är det främst anmärkningsvärt för att hackaren följde en ovanlig attack. Det återstår att se om hackare kan imitera denna linjeattack och utföra den mot andra blockchain-projekt.