Bitcoin price analysis: BTC/USD retreating amid scandal about NSA gathering information about Bitcoin users

  • While Bitcoin users entertain illusions about anonymity, NSA gathers their data.
  • BTC/USD needs to get back above $9,000 extend the upside. 

Bitcoin price is retreating from $9,000 resistance level as crypto traders and investors are discussing the new conspiracy theory, revealed by the Intercept, a media platform, dedicated to ‘adversarial journalism,’ disclosing all sorts of leaked classified information. 

The US National Security Agency developed a popular anonymizing software that produces the opposite effect - it gathers and processes information about the users, according to the documents, disclosed to the Intercept.

The software is known as MONKEYROCKET. It is supposed to be a VPN-like service, though, instead of hiding user data, it sends it right to NSA. MONKEYROCKET is believed to be a subprogram of OAKSTAR, NSA's secret internet surveillance program, that played a crucial role in identifying Bitcoin users from Europe, Middle East, Asia and South America.

MONKEYROCKET with over 16K of registered users mostly from China and Iran sent to NSA significant amount of Bitcoin user data, including passwords, browser history, and even MAC address. As a result, NSA has enough data for user identification, while Bitcoin is not all that anonymous after all.

Bitcoin price technical picture

BTC/USD touched the intraday high at $9,135 but failed to keep ground retreating below $9,000. On the intraday timeframe, the price stays well above the key moving averages with the first major support produced by 50-SMA at $8,600. The coin retains the upside bias as long as it stays above $8,300 (200-SMA).  On the upside, the ultimate resistance is produced by $9,000 and followed by $9,200 (200-DMA).

BTC/USD, the hourly chart

BTC/USD, the hourly chart

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