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

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

Bitcoin may extend the recovery once Gold resumes the rally

Bitcoin has been creeping higher towards $12,000, ETH struggles at $400, while some altcoins rush forward to new highs. Thus, Bitcoin Cash and Monero gained 10% in the recent 24 hours, while EOS increased by 6%. 

More Bitcoin News

XRP/USD daily bull flag awaiting confirmation to breakout above $0.346

XRP/USD is trading at $0.309 while daily EMAs remain far away from the price. The daily bull flag is the most important pattern for XRP in the short-term. XRP continues fighting to remain above $0.30 ...

More Ripple News

Grayscale wants to register its Ethereum-based trust with SEC

Grayscale Investments submitted an application with the US Securities and Exchange Commission to register its Ethereum-based Trust. The company emphasized that the filing is voluntary, however, the registration will entail additional compliance requirements.

More Ethereum News

How long can TRX/USD sustain this 6-months ascending channel?

Tron price action has continued to take down key barriers from the massive losses in March. Even though the recovery has been as rapid as witnessed in other altcoins, TRX/USD price action speaks slow and steady out loud.

More Tron News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC hit the pause button before a decisive breakthrough

Bitcoin lived through a wild roller-coaster move during the previous weekend. The coin hit the new 2020 high above $12,000 and crashed to $10,500 in a matter of hours. 

Read the weekly forecast

BTC

ETH

XRP