The German government has urged the European Union to sanction Russian citizens responsible for the largest cyber-attack ever against the Bundestag, which was carried out in 2015. If so, the move will mark the first real use case of the so-called “EU Cyber Diplomacy Toolbox” introduced in 2017 and designed to respond to malicious cyber activities.
Back in 2015, Russian intelligence allegedly performed a massive cyber attack against the Bundestag, wherein it illegally obtained 16 gigabytes of data, documents, and emails from the Bundestag’s IT network. Among the compromised files, there allegedly were thousands of emails from Chancellor Angela Merkel’s Bundestag office.
Alleged Involvement of Russian Intelligence
Despite “hard evidence” of Russian involvement in the hack cited by Merkel, Andrej Hunko, spokesman for European policy for the Left Party’s parliamentary group, argued that “it may be that Russian citizens are behind the ‘Bundestag hack’, but perhaps it’s a false clue intended to throw off the scent. In any case, to this day there is no evidence of Russian government involvement in the hacking attack.”
In the meantime, German authorities issued an arrest warrant against Russian citizen Dmitry Badin, a “member of the group APT28” who is suspected of being responsible for the hack. Also, Germany claims the involvement of a hacker from the Main Directorate of the General Staff of the Armed Forces of the Russian Federation (GRU).
Germany has sent the proposal to the other EU member states for consideration.
Toward Stable and Secure Cyberspace
The European Council began the development of the cyber diplomacy toolbox in 2017, aiming to prevent conflicts, mitigate cybersecurity threats, and contribute to greater stability in international relations.
“The EU diplomatic response to malicious cyber activities will make full use of measures within the Common Foreign and Security Policy, including, if necessary, restrictive measures,” the document read.
In 2018, the Council adopted conclusions on malicious cyber activities underlining the importance of global and secure cyberspace. In 2019, the High Representative released a declaration on behalf of E.U. urged actors to stop undertaking malicious cyber activities and calling on partners to strengthen cross-border collaboration to promote security in cyberspace.
On July 1, Germany assumed the rotating Council Presidency for six months, which means that the country could play a stronger role in determining priorities for Europe. At the launch of the German EU Council Presidency, Merkel pushed for the digitization of the economy and society.
Germany believes that the development of artificial intelligence and quantum technology will “increase our prosperity, protect our security, and preserve our values in fair competition”.
European Infrastructure is Under Cyber Attacks
As forklog.media previously reported, this spring, an array of European countries faced a massive cyberattack campaign, with nearly 80 critical infrastructure institutions in Eastern and Central Europe affected. The attacks reportedly were in favor of Russia’s and China’s interests in Europe.
Also, a hacking group linked with the Russian government reportedly carried out a series of attacks on the energy, water, and power sectors of Germany. German authorities tend to believe that the efforts to compromise the country’s critical infrastructure were taken by the Berserk Bear hacking group.
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Ripple price prediction: XRP to retest $0.32 soon, analyst
Ripple price prediction set for $0.32. Ripple support levels rise up to $0.257. Strong resistance persist at $0.26. The Ripple price prediction by Casper suggests that XRP will soon retest the $0.32 resistance after observing a breakout above the triangle pattern. The cryptocurrency recovered price and moved towards the $0.257 mark on the 24th of […]
- Ripple price prediction set for $0.32.
- Ripple support levels rise up to $0.257.
- Strong resistance persist at $0.26.
The Ripple price prediction by Casper suggests that XRP will soon retest the $0.32 resistance after observing a breakout above the triangle pattern. The cryptocurrency recovered price and moved towards the $0.257 mark on the 24th of October.
1-Day Ripple price analysis
XRP observed a price fall from the $0.26 mark to the $0.251 level on the 23rd of October, after which it has been on a gradual uptrend. The price was marked at $0.257 at the time of writing.
What to expect from XRP?
The price has been varying above the $0.255 level on the 24th of October. Recently, Ripple observed an uptrend that lasted over three days, and the price finally moved above the $0.26 mark to test a rising resistance.
The cryptocurrency got rejected by the rising resistance, and the price returned towards the newly formed support near the $0.255 level. For its next move, Solldy expects Ripple to observe a downtrend towards the $0.247 level, which is where the bottom horizontal support lies above the ascending support level. This is a shorting opportunity for the XRPUSD pair, with a take profit marked at $0.247. However, if the price observes an uptrend towards $0.26, the trade will be invalidated.
Will Ripple return to $0.263
Another trade setup was marked on Ripple’s charts by YM Group. Per the trade setup, the cryptocurrency is well-supported by a horizontal support level near the $0.251 mark. The price prediction suggests that the price will rise towards the $0.263 resistance again.
As talked about in the previous idea, the cryptocurrency tested the $0.263 resistance on the 22nd of October, and now the price has moved towards the $0.255 level. As Ripple observed a slight increase in the price on the 24th of October, the chances are that the price will observe further increase and touch the $0.263 resistance again.
Ripple was building up this move towards the $0.263 mark for quite a while, and it finally tested it. A price rejection may have caused a pullback, and the cryptocurrency is expected to recover soon and head back above the $0.262 level.
Ripple price prediction: Upward breakout ahead?
The Trading View analyst Casper drew a descending channel inside a larger triangle pattern. The analyst expects a breakout to take place above the triangle.
The upward breakout from the descending channel should have built enough momentum for the cryptocurrency to move towards the triangle’s upper boundary. If the price breaks above this triangle, the crypto will move towards the $0.30 mark and above it, per the analyst. The analyst stated that XRP seems to be aiming to test the $0.32 resistance.
The Moving Average Convergence Divergence (MACD) line seems to have moved close to the signal line. The histogram size seems to be decreasing in the negative region, while the Relative Strength Index (RSI) closed below 60.00. This means that the coin is in the neutral region with no oversold or overbought instances.
Disclaimer: The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Bitcoin as a transactional currency in 5 years? Unlikely, says Galaxy Digital CEO
During a recent interview, Michael Novogratz, CEO of Galaxy Digital Holdings, shared his views on why he doesn’t see Bitcoin being used as a currency in the next 5 years.
As a proponent of the store of value narrative for Bitcoin, Novogratz highlighted a few key reasons why he believes the price of Bitcoin will rise significantly over the next few years. According to him, the PayPal news has made big financial institutions and central banks reconsider their position and skepticism for the digital asset industry.
For instance, while Wells Fargo, JP Morgan, and Citi were down by over 20 to 60 percent, companies that invested heavily in Bitcoin have registered considerable gains – PayPal was up by 100 percent and Square was up by 186 percent.
Novogratz also said that there are a few reasons why Bitcoin’s price didn’t pump higher following the major PayPal announcement.
One reason, he noted, was that a majority of wealth in the United States of America is concentrated between people aged 45-80 years. These people are unlikely to use a Coinbase wallet to make a purchase of Bitcoin, Novogratz pointed out.
As things stand, people cannot facilitate a Bitcoin purchase by calling up the Bank of America and asking them to purchase some cryptocurrency.
As more infrastructure is put into place to allow easier access to buy it, as has just happened with PayPal, Bitcoin is very likely to note significant price appreciation. PayPal currently allows users to buy, sell, and hold crypto, but the ability to transfer crypto to other accounts is not available at this stage. This is likely due to regulatory uncertainty.
However, this may change in the future, with the Galaxy Digital CEO stipulating that the financial architecture of the USA and the world will be rebuilt around blockchain in the next 10 years. As for Bitcoin, he said,
“I don’t think BTC is going to be used as a transactional currency any time in the next 5 years. BTC is being used as a store of value as people are worried that Central Banks are debasing the value of fiat currencies.”
Even with the introduction of a CBDC, Central Banks could keep issuing more of the digital currency at their own discretion, debasing its value. According to him, this will further fuel the perception of Bitcoin as digital gold.
Novogratz concluded by stating that the price of Bitcoin is going to go higher as more people will want it in their portfolio, especially if it’s much easier to buy.
Stagnant Crypto Weekend: Bitcoin Temporarily Stopped at $13,000
Following the past couple of days of significant price developments within the cryptocurrency space, most assets have calmed. Bitcoin remains just shy $13,000, while some of the altcoins have even retraced slightly.
Bitcoin Struggles at $13,000
The past seven days were nothing short of impressive for Bitcoin. After a brief dip to $11,400 last week, the cryptocurrency went on a roll. Promising news from PayPal only accelerated BTC’s bullish run, resulting in a fresh 2020 high painted a few days ago at $13,200.
Since then, Bitcoin has maintained a relatively robust position around the $13,000 mark. In the past 24 hours, the primary cryptocurrency has hovered around that particular level as well.
The only exception came a few hours ago when it tanked to $12,730 (on Bitstamp). However, the bulls quickly took charge and drove it back to the familiar ground.
From a technical standpoint, the new 2020 high of $13,200 is the first significant resistance in BTC’s way up. Should the asset break above it, the next ones are $13,400, $13,500, and $13,600.
Alternatively, Bitcoin could find support at $12,550, $12,400, $12,125, and $12,000 in case the recent trend reverses and BTC heads south.
Altcoins Display Red
The alternative coins joined Bitcoin’s party with a slight delay last week. Nevertheless, they marked some notable gains, which ultimately increased the total market cap by over $40 billion in seven days.
The situation has changed a bit in the past 24 hours. After jumping above $415 yesterday, Ethereum has lost some value and currently trades beneath that level. Ripple (-1.6%), Bitcoin Cash (-0.8%), Binance Coin (-0.9%), and Cardano (-1.6%) have also dipped slightly on a 24-hour scale.
Polkadot has increased by about 2%, while Chainlink has gained another 3%. LINK’s impressive performance as of late has driven the asset above $12.
The most impressive gainer since yesterday is ABBC Coin. ABBC has pumped by 21% to $0.57. Ocean Protocol (14.5%), Elrond (14%), and Yearn. Finance (11%) follow suit.
Reserve Rights (-6.5%), Energy Web Token (-6%), HedgeTrade (-6%), and OKB (-5%) have lost the most value in the past day.
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Cryptocurrency charts by TradingView.
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