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Pantera Capital Management Expects the Bitcoin Price to Reach its Previous Record Fairly Soon

Depending on how one wants to look at things, the Bitcoin price bottom may have finally been established. Pantera Capital Management is convinced that things will improve from here on out, although it’s too early to say for sure. Even so, we’ve seen a nice Bitcoin price bounce on the charts, which is something a lot of speculators have been waiting for.

Pantera Capital Management is Bullish on Bitcoin

In a way, it is not entirely surprising to see an entity like Pantera Capital Management turn bullish on Bitcoin. This news comes at a crucial time for the cryptocurrency industry, as the Bitcoin price has been battered throughout most of 2018. With a net decline of 65% between December 2017 and early April 2018, it is evident bullish momentum is not on the horizon.

Even so, things always turn around in the world of cryptocurrency. Every single year, we see a steep decline in Bitcoin’s price, followed by several months of sideways trading, and ultimately a new all-time high in the long run. It seems the bottom has been locked in as of right now.

According to Pantera Capital Management, things will improve from here on out. They predict that $6,500 is the low for the Bitcoin bear market and that the future looks bright. In fact, the group is confident that this will remain the support level for the remainder of 2018 and even 2019. That is a rather optimistic outlook, although it remains to be seen if this holds true in the end.

Moreover, it seems Pantera is confident the Bitcoin price will return to its previous all-time high and surpass that level later this year. While that is certainly something all cryptocurrency investors would love to see, it remains highly unlikely things will head in that direction. If last year was any indication, there are some interesting trends waiting to take form in the coming months.

One could argue such a statement by Pantera Capital Management serves the company’s business. After all, their fund has over $800 million in various assets, with a very strong focus on Bitcoin and a few other top cryptocurrencies. Even so, CEO Dan Morehead is convinced there will be no other outcome for the industry, regardless of his company’s position within it. It will certainly be interesting to see how things play out in the near future.

For Bitcoin speculators, interesting times lie ahead. Either we will see massive gains in the coming eight months, or the Bitcoin price will dip to $5,000 or potentially lower. Anything and everything is possible in this industry, although the current trend seems to indicate that good things will continue to happen. It all depends on how much price manipulation we will have to contend with in the coming months.

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The Jigsaw Ransomware Has Been Revived to Steal Bitcoin from Unsuspecting Users

The Jigsaw malware is back and it is ready to steal Bitcoin from consumers once again. Jigsaw is Back to Scare Bitcoin Users ZDNet recently reported that the “Jigsaw” ransomware has recently been revised by hackers to steal Bitcoin from unsuspecting users through a “simple-but-effective trick.” According to the technology news source, Jigsaw first appeared in the cryptocurrency scene in April 2016 as a form of ransomware, holding the files and information of users hostage until a ransom of Bitcoin was paid. The reason why it is named Jigsaw is due to the fact that the piece of code displayed the likeness of the Saw horror film villain. However, with this most recent revision, the ransomware has been re-purposed to steal Bitcoin in a fairly innovative and non-intrusive manner, modifying the addresses inputted by a user. Once the piece of malware alters an address, the Bitcoin payment will then be redirected to the hacker’s wallet, resulting in lost crypto for the victim. Jigsaw, or “BitcoinStealer,” as it is known by references in the code of the program, accomplishes this by altering Bitcoin addresses in someone’s clipboard, or the area where copied pieces of text lie. However, the ingenuity of the program does not stop there, as BitcoinStealer is able to the intended address of the payment to one that looks very similar, using a program such as VanityGen to trick the user into thinking the hacker’s address and the original address are one and the same. Image Courtesy of Fortinet This ingenuity has proven to be rather successful, with researchers from Fortinet, who first broke the news about Jigsaw, saying that cyber attacks utilizing this method have garnered over 8.4 Bitcoin, or approximately $61,000 at current market prices. Fortinet also discovered that there were many similar projects for “modifying cryptocurrency addresses” being advertised on dark web forum sites, presumably by hackers enlisting the same method of attack. Crypto-Related Cybercrime is Still Prevalent Despite Price Decline However, this method of cybercrime, which the cyber researchers called the “clipboard-substitution malware family,” was not mentioned in a recent threat report from the cybersecurity firm Malwarebytes. According to the report released on July 17th, ransomware and cryptojacking were by far the primary sources of crypto-related cybercrime, with “cryptominers continuing to dominate” the threat landscape. Despite starting to slow down due to declining cryptocurrency prices and mining profits, the Cybercrime Tactics & Techniques Report for Q2 2018 still found that cryptominers are as prevalent as ever, noting: “Cryptomining detections are slowly declining; however, as one of the top two detections for both businesses and consumers, they still dominate the threat landscape” Nonetheless, moving into Q3 of 2018, Malwarebytes expects for cryptojacking cases to slowly fade, as cybercriminals follow the industries where they can make the biggest profits. The security firm wrote: “Ultimately, many criminals aren’t getting the return on investment (ROI) from cryptomining they were expecting. The cryptojacking craze will likely stabilize as it follows market trends in cryptocurrency… Until changes in the cryptocurrency market cause a spike or swift downturn, expect to see cryptomining hum along at its current slower pace into Q3.” It is likely that the propagation of clipboard-substitutions will become a growing threat for cryptocurrency users moving into the future, as it is a much more reliable, non-intrusive and profitable way for hackers to get their hand on consumer crypto. So watch out, double, triple or even quadruple check the address when you send your next Bitcoin transaction. Featured image from Shutterstock. The post The Jigsaw Ransomware Has Been Revived to Steal Bitcoin from Unsuspecting Users appeared first on NewsBTC.

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