Binance Cryptocurrency News

Bitcoin Price Breaks Through Key $6,000 Mark, McAfee Offers Help to Binance’s CZ

On May 8, Bitcoin got over the crucial $6,000 level of resistance. Analysts believe this will bring investors further gains by letting BTC rise even higher

On Wednesday, Bitcoin price finally overcame the key resistance mark at $6,000, as per CoinMarkerCap data.

In its recent article, Forbes reveals the opinions of several analysts who say that if Bitcoin can get fixed above $6,000, it may go on to rise further and bring higher gains to investors.

Bitcoin is giving a hope for further market rise: analysts

Forbes has spoken to several crypto analysts, one of them is John Todaro from TradeBlock. This expert considers the $6,000 mark to be a key level for BTC. He says that despite the recent rebound of the Bitcoin price due to the Tether-Bitfinex situation, Bitcoin has found resources to pass this major point on charts.

“Just yesterday we saw bitcoin prices rebound quite quickly after it was revealed that $40 million in bitcoin was stolen from wallets belonging to Binance in an exchange attack.”

Todaro is positive that now Bitcoin price will keep going forward.

The managing director of Digital Capital Management, Tim Enneking, has mentioned the $6,000 level as a hard one to take. However, he added, should Bitcoin overcome this major resistance point, it will almost certainly continue appreciating.

Jeff Dorman, head of investment in Arca, has also described the aforementioned resistance level as a key one, after passing which Bitcoin may show fast and substantial gains.

Binance CZ’s decision may have pushed BTC price high

On May 8, the Internet and social media were boiling with discussions of another major event that took place, alas, a sad one. Binance exchange lost 7,000 BTC in a security breach attack, which is around $40 mln.

Bitcoin [BTC]: The first rally of 2019 “could be the start of something new,” say experts

As an option to save the situation, the CEO, Changpeng Zhao (CZ), suggested miners conduct a rollback on Bitcoin network to recover the stolen funds. However, later on, CZ gave up on that idea. Probably held back by the strong negative response from the community, who did not want another Bitcoin chain split to occur.

Anyway, the fact that the Bitcoin chain remained intact may have helped BTC price to take the last step in passing the crucial resistance at $6,000.

McAfee steps in to offer CZ help

Also, on Wednesday, the well-known John McAfee tweeted that he is willing to offer his skills in the cybersecurity sphere to CZ so Binance can analyze the recent hackers’ attack and make sure it does not happen in the future. He also urged the head of the Russia-based Kaspersky Lab, Eugene Kaspersky, to join him on this.

Changpeng Zhao replied that he would contact McAfee in DM.


I am a believer of the HODL philosophy because we are still in the nascent stage of blockchain technology. Although we are in a bear market now, my outlook on the adoption and growth of blockchain solutions remains unchanged. Blockchain transactions has been growing exponentially and demand for cryptocurrency like Bitcoin [BTC], Ethereum [ETH], Ripple [XRP], Litecoin [LTC] and other Altcoins will only continue to grow exponentially in the next five to ten years.

Leave a Reply

Your email address will not be published.