This deep article about Bitcoin price chart history provides vitally important information for crypto beginners in terms of Bitcoin and its history in terms of charts. Understanding the crypto leader in terms of its past and present trends will help you determine the future.
Thus, we delve deep into the Bitcoin price charts, roadmap, adoption, trading volume, and halving history. Lastly, we provide lists of trading platforms and where you can find good Bitcoin price predictions and analysis.
To understand Bitcoin price chart history there are some basics we must explain first such as Bitcoin as a cryptocurrency, key features and the creation of Bitcoin.
Introduction about Bitcoin as Cryptocurrency
The concept of blockchain started long before Bitcoin. Many point out Stuart Haber and W. Scott Stornetta as concept creators when they published an academic paper on cryptographic blocks linking in 1991. Even the bitcoin creators cited their work within the BTC’s whitepaper, mentioning the work as a basis for the technology.
Even earlier, many believe that Cypherpunk in the 1980s introduced cryptographic transactions system that fosters privacy-friendly transactions. The movement advocated the use of a peer-to-peer system, where people would transfer assets of value between each other, excluding middleman.
However, many still consider Bitcoin as the true digital pioneer, as it combined many previous concepts under one system. It introduced the peer-to-peer system, own cryptocurrency, and used cryptography to link blocks together. Since its creation, Bitcoin aimed to shake financial markets with blockchain technology and the benefits it offers with a decentralized network.
Creation of Bitcoin: Who is Satoshi Nakamoto?
An unknown individual or entity called Satoshi Nakamoto created Bitcoin in 2009. Satoshi is a pseudonym that remains an enigma until today, leaving many to guess whom that is. Nevertheless, his or her (or their) whitepaper of Bitcoin stands as a moment to cryptocurrencies and how it all started.
Bitcoin’s Key Features
Bitcoin’s key features are quite important for traders. They define the cryptocurrency and how its market works. These are:
- Decentralized monetary system
- Peer-to-peer money transactions (no middle man)
- Blockchain-technology and Proof of Work algorithm
The importance of the owner’s anonymity lies in the fact that Bitcoin strives to be truly decentralized peer-to-peer transaction system. Its main goal is to eliminate the middleman in financial services and to speed up transfers while carrying very low costs. Now, Bitcoin remains to be the “king of all cryptos”, keeping a huge market dominance rate over the years.
Bitcoin uses Proof-of-Work (PoW) algorithm to determine how blocks are added to the chain. PoW means that individual node needs to provide a “service” to the network. In Bitcoin’s case, miners solve complex mathematical equations and verify payments within the Bitcoin’s blockchain network. Then, they are awarded a block of coins, currently standing at 12.5 BTC per block.
Bitcoin Price Chart History
In the Bitcoin price chart history, we take a look of crypto’s price movement since its humble beginnings. Putting it down in simple terms, we use a time graph, with the evaluation done in USD. We seek patterns and how value changed in terms of:
- how often: does a Bitcoin’s price change on a daily basis or less frequently
- how much: does the price change drastically in terms of its value or is it more stable
Bitcoin’s Unsteady Road to $20,000 Level
Bitcoin’s unsteady road to $20,000 level shows us a definition of volatility from the very start. According to the BitcoinWiki’s data, traders could have bought 1,309.03 BTC for 1 USD back in October 2009. Yep, you have read that right, 1 US Dollar for what is now worth $15 million. However, Bitcoin back then was pretty unknown to the majority of the public.
It did not have the market support as it does right now. Thus, it is no wonder that it took almost four years for crypto to reach $100 per BTC, from 2009 to 2013.
Fast-forward to 2013, the Bitcoin started its unsteady march towards unprecedented growth ever recorded in trading markets. In CoinMarketCap’s chart below, we can see the ups and downs during the last 6 years, with culmination happening at the end of 2017 and the beginning of 2018.
Image explanation: BTC Price Changes Timegraph, 2013-19.
- The first red line shows a somewhat unsteady road to $20,000 price
- Red circle shows the moon-like explosion
- Yellow circle shows the bear’s correction and price decline
- Green line shows how the circle repeats again
Bitcoin Price History Chart: What Caused the March to $20,000?
As many of you might already know from Bitcoin price history charts, BTC had a somewhat unsteady road to $20,000 price tag until mid-2017. Then, the massive entrance of retail traders in 2017 was propelled through:
- extensive mass media coverage
- speculation regarding new BTC ETFs allowing retail traders to hop into the crypto, and
- many ICOs being brought to life
These market trends brought the moon-like explosion of the BTC’s value, pushing the crypto upwards. The hard (and expected) bear crash almost immediately brought value correction, lasting for entire 2018 and part of 2019.
What is going on in 2019?
In March 2019, due to the entrance of a large number of retail traders and the market’s response to them, Bitcoin seems to gather another momentum. It grew from $3,500 to almost $15,000 on May 2019 in a circle repeat. The growth spur this time took a month more than in 2017.
At the same time, the correction came immediately, with June 2019 holding the $11,500 resistance level. The price keeps changing rapidly on a daily basis. Thus, value resistance and support levels need to be carefully monitored regularly.
Bitcoin Inspiring other Cryptos
Backtracking a bit before the momentous growth in 2017, we saw Bitcoin inspiring other cryptos. Many altcoins such as Litecoin, Bitcoin Cash, and even Ethereum, were developed to further improve blockchain tech. As an example, a group of developers that wanted a different kind of transaction verification process from Bitcoin’s PoW created Ethereum.
Bitcoin Cash came about as hard fork while Litecoin was developed as a faster version of Bitcoin. These two digital coins use the same tech Bitcoin has but with slight changes, such as larger block sizes, a bigger number of transactions’ verification per blog, and similar features. However, no crypto surpassed it in terms of its overall value at any point in time.
Bitcoin Market Dominance History Chart
Bitcoin market dominance history chart is a percentage Bitcoin has out of the entire crypto market value. It takes into account BTC coins which are in circulation and the overall value they carry against the entire crypto market (also in circulation). When we say market value, we mean bitcoins that are actively exchanged, traded, and held. Being the first cryptocurrency in the blockchain space, Bitcoin has a large first-mover advantage (FMA) over all other digital coins.
Bitcoin market dominance history chart shows some very interesting data. Many new cryptos came to life after the initial Bitcoin’s success but none matched its strength. The market dominance history starts in 2013 when altcoins finally started showing up when BTC’s dominance declined to 94% from 100%. Before that date, Litecoin was the only altcoin active and had little value and market than what it has today.
Bitcoin still holds a large part of the market value, with current stats showing 65% market dominance. It is evident that alts have a long way to go in order to rip BTC from the throne. As CoinMarketCap’s dominance chart shows below, it took full 4 years more for alts to show up.
Image explanation: Bitcoin Market Dominance, movement of percentage between 2013-19.
- Y-axis shows individual cryptocurrencies’ share of overall market capitalization
- X-axis is a timeline on a monthly basis
Since then, Bitcoin’s dominance went up and down but was never really threatened by a single alt. The lowest point was 32% in January 2018 when Ethereum grew to 18%. The period signifies the inevitable decline of Bitcoin’s price when the market experienced a massive bear run. Most investors engaged in selling activities but did not do the same with altcoins at the time.
However, it seems that altcoins could not stop the bear trend for a prolonged period of time. As alts declined during the massive sell-out, Bitcoin grew in dominance, even when its value declined substantially. Simply put, altcoins declined in value even more so than the BTC.
Bitcoin Roadmap History Chart
Bitcoin roadmap history chart shows development steps since the beginning of bitcoin. It takes into account improvements to the code made by developers that Bitcoin miners accepted.
Changes in the Bitcoin core code impacts the entire market, including miners, traders, investors, and casual users. Thus, reaching quorum that could change the way Bitcoin works is a bit tricky, carried out by miners. Each change, called Bitcoin Improvement Proposals (BIP), needs a large amount of miners’ support. You can find BIPs and at what stage of implementation they are in, found at Bitcoin’s GitHub page.
Admittedly, it is not easy to earn the community’s trust with changes. Only a few major improvements gathered enough consensus, with SegWit being the largest. Its transactions per second, block size, and other notable factors changed very little (found under final or active status).
Major changes since the original release are mostly coming from SegWit:
- Block size change: 1MB to 2MB (BIP 102) – 2015
- Introduction of block weight for blocks without signature data of up to 4MB (SegWit – increased number of transactions per block award) – 2017
- Development of second-layer networks outside of blockchain (SegWit) – 2017
Below graph shows how the community reacted following the SegWit’s implementation, found at transactionfee.info. It is important to note that SegWit implementation is not mandatory. Miners can choose to use the said improvements or not.
The Y-axis is the number of transactions that have a SegWit output. Compared to our price chart in previous sections, it seems that SegWit transactions did help Bitcoin’s price growth, as the implementation started out in August, the same period when the march towards $20,000 began. Although the price decline started out in 2018, it seems that SegWit continued to gather more support.
Bitcoin Adoption History Chart
In Bitcoin adoption history chart, we take into account a number of businesses that accepted BTC as a payment method. The timeframe shows just how many businesses accepted the crypto over time and whether the acceptance rate is fast or slow.
Thus, even the chart below, although mostly representative of the rate, is not 100% true. Many businesses do not report that they accept or have stopped accepting bitcoin as a medium for payment. Nevertheless, the data shows that the adoption rate is still slow and highly volatile, as seen by the blue line.
Image Explanation: Number of businesses accepting Bitcoin as a payment method on a monthly basis, 2013-18.
- Red Bars – Number of companies that accepted bitcoin
- Blue Line – A trend line that shows which periods had a bigger bitcoin adoption rate
According to the CoinMap, about 15 thousand businesses accept bitcoin, with Microsoft, Wikipedia, Expedia, and others leading the adoption. The number did not change drastically over the years, especially when compared to fiats.
Growth of Bitcoin ATMs
In recent years, there has been a sharp growth of Bitcoin ATMs, fostered by the media recognition. The teller machines allow traders to purchase and sell Bitcoins directly alongside other cryptos depending on the ATM manufacturer. Bellow chart shows the said growth since 2014.
The very first Bitcoin ATM opened up in November 1st, 2014 and grew to today’s 5,156 in July 2019. Interestingly, the US has most of Bitcoin ATM locations according to the Coin ATM Radar data, 3,078 so far. Interestingly, even after the 2018’s bear year, the number of ATMs continued to rise., breaking the 5,000 level at the end of June 2019.
Bitcoin Trading Volume History Chart
Bitcoin trading volume history chart shows the amount of bitcoins traded on a daily basis. The volatility rate is pretty high here as well, as the market dictates the trends. Factors that can impact the Bitcoin trading volume (but not excluding others) includes:
- Bitcoin’s price movement
- Price movements of other cryptocurrencies (traders might switch from coin to coin)
- Regulators’ movement (example: ban of cryptos in some countries)
- Market News (announcement of Bakkt, Bitcoin’s halving, etc.)
- New trading platform market entrance (if large enough)
- New investors entering the market
- Many other factors
Thus, it can be hard to determine which set of events triggered the change within the daily trade statistics. The chart below from Blockchain represents the value of daily Bitcoin trade, expressed in USD.
Image Explanation: Bitcoin Daily Trade Volume in USD, 2010-19. Graph shows the timetable of daily values.
The very first trading activity started out in 2010, gradually increasing in both value and volume. However, the biggest spike occurred during the massive bull-run in 2017/2018 period, when the price spiked towards $20,000 level. The graph shows just how volatile the Bitcoin trade market is, as the price tumbled down during 2018.
However, if expressed in Bitcoins only, the market seems to be more stable. The graph below from Bitcoinity shows daily trade volume expressed in BTC.
Image Explanation: Bitcoin Trading Volume, 2010-19. Volume expressed in BTC only.
Comparing two graphs, it seems that USD price value plays a major part in Bitocin daily trade data. Bitcoin transactions (buy and sell) are much more stable and follow major trends only, like a bull run at the end of 2017.
Bitcoin Halving Price History Chart
Bitcoin halving history chart takes into account the supply cuts BTC had throughout its existence. BTC halving is a situation in which BTC’s awards to miners get cut in half. The main aim of the halving is to prolong the supply of coins since Bitcoin’s overall reserves are limited to 21 million coins. So far, 17.8 million are already in circulation.
Using the data from Bitcoin halving history chart below, it is evident that halving does have an impact on BTC. However, the impact itself may not signify large price surges. Nevertheless, it is important for traders to understand that incoming halving date within mid-2020 can have an impact on BTC’s price. The chart below shows just how much of an effect does halving have on the crypto.
1st Bitcoin Halving in 2011
The first supply cut or bitcoin halving occurred on November 28th, 2011. Back then, the market support just started to gather strength, as seen from the trading volume chart in the previous section. Thus, most of the market (well, miners really) supplied themselves with coins, waiting for the halving to occur. Graph below shows how the price initially declined before the halving took place.
Image Source: BuyBitcoinWorldwide
- Red Line- price trend before BTC halving
- Green Line – price trend after BTC halving
The price declined from $8 (beginning of Sep 2011) to $2.55 when halving happened. The block award reduced the amount of bitcoins miners get from 50 BTC to 25 BTC. The price, however, did rise up to almost $7 by the beginning of January, then slipped back into the $4-$5 range until mid-2012.
The moral of the story is that the market was small enough to prepare for the halving. Thus, on itself, it did have a very limited amount of impact. The price declined from $8 (pre-halving) down to $5 (post-halving) range.
2nd Bitcoin Halving in 2016
On September 9th, 2016, 2nd Bitcoin halving occurred, driving the price up from $650 to $950 by the end of the year. This time, the market is much bigger than in 2011, growing in terms of trade platforms’ number and daily trade volume. Thus, the price decline prior to the halving was less sharp. BTC value fell from $760 at June to $650 at the day of block award size cut.
Image Source: BuyBitcoinWorldwide
· Red Line- price trend before BTC halving
· Green Line – price trend after BTC halving
The overall supply of bitcoins per block decreases by half, with the latest example of rewards going down from 25 BTC to 12.5 BTC. The price recovery took several months to reach $760 level, surpassing it by mid-December. Then, it continued onwards towards $950 and beyond at the end of 2016.
Analyzing both cases, it seems that halving did not have a large influence on the Bitcoin’s price. However, we do need to take into account that pre-2016 were years of low market support, especially if compared to today’s trading volume. Thus, the 3rd halving, set to occur in 2020, would have a different impact on the BTC market.
Where to Find Trading Platforms for Bitcoin?
With all said and done, it is time for us to showcase just where to find trading platforms for bitcoin. Below are some of the most famous websites where you can trade and/or margin trade BTCs easily. Be sure to check out our guides about them by clicking subtitles’ links.
Coinbase is one of the largest Bitcoin trading marketplaces in the world. Currently, it serves 37 for fiat-to-crypto pairings while crypto-only trading is available in 36 more countries. Currently, there are 12 pairs that you can invest in, including:
eToro is a social trading platform that allows traders to copy orders from top investors. It is a CFD platform, meaning that you do not own Bitcoins but rather capitalize on the price difference. You can pair up BTC with 8 other currencies, including:
Unlike the other two platforms, BitMEX offers crypto-to-crypto trading only. Thus, you deposit BTC and then trade it against the US dollar’s value. The platform does not require verification of your personal details, making it ideal for those that seek to try out their fortunes with Bitcoin trade. So far, you can only trade in BTC-USD pair.
Binance is a global trading market for anyone that wishes to trade cryptos. Like BitMEX, it is crypto trading only, while its services are available globally. US is currently not available anymore, as the company is in the midst of US trading website development. There are over 100 trading pairs for BTC, including:
- BTC-BNB (Binance’s own crypto)
There are also other companies that you should check out, including CFD (Contract for Difference) based platforms. Safe ones that you can try out include:
Where to Find Bitcoin Price Predictions and Analysis?
As a beginner, it is a good start with where to find Bitcoin price predictions and analysis. Experienced traders offer an abundance of advice that can save you from having too many losses at the beginning. Thus, we propose a list of sources where you can check out the latest market technical and fundamental analysis.
We at CryptoCoinTrade provide assistance for trading starters with simple but effective analysis for all cryptocurrencies, Bitcoin included. Investigations take into account the biggest trading platforms and are published on a weekly basis. We include both technical analysis and fundamental analysis. Be sure to check them out!
There are a lot of influences on social media that provide their own takes regarding Bitcoin trading. Some offer full-fledged analysis (YouTube) while others provide the charting analysis (Twitter & Instagram). You can check out and follow top accounts on each social media platform listed below:
The post Historical Price of Bitcoin – Bitcoin to USD Charts appeared first on Cryptocointrade.
What the Google Antitrust Lawsuit Means for Web 3
Google helped make Web 2 possible. Now it may need to be broken up to make room for Web 3.
This week, the US Department of Justice and 11 states filed an antitrust lawsuit against Google.
According to the filing, Google has used exclusionary agreements with mobile phone and browser companies to become the dominant search engine, controlling nearly the entire search market, all the while acquiring companies such as YouTube and Android to cement its omnipresence.
In short, it’s a monopoly, a totemic institution that controls broad swaths of the tech market and limits user options. And, it may just be holding back Web 3.0, the broad term for a decentralized internet in which content isn’t controlled by conglomerates but by individual creators—just as previous monopolies attempted to stave off Web 1.0 and Web 2.0 technologies.
According to tech writer Cory Doctorow, antitrust enforcement is key to maintaining a society which values individual freedom. In his August book “How to Destroy Surveillance Capitalism” (published online by OneZero), he argues:
“If we’d denied Google the right to effect its many mergers, we would also have probably denied it its total search dominance. Without that dominance, the pet theories, biases, errors (and good judgment, too) of Google search engineers and product managers would not have such an outsized effect on consumer choice.”
Doctorow is in direct conversation with Shoshanna Zuboff, whose 2019 book, “The Age of Surveillance Capitalism” (some of the contents of which are available on Google Books), defined the term. “Surveillance capitalism,” she writes, “unilaterally claims human experience as free raw material for translation into behavioral data.”
Bluntly put, we’re being spied on, then manipulated, then fleeced.
“If we’d denied Google the right to effect its many mergers, we would also have probably denied it its total search dominance.”
She cites, as an example, the smart thermostat made by Nest, owned by Google. The device connects to other Google internet-of-things devices and only works properly with Google’s operating system, which sends massive amounts of data to Google’s databases, which—you guessed it—Google then uses to sell you more goods.
Which is exactly what a monopoly would do.
The AT&T example
Yet isn’t the mere creation of a smart thermostat that integrates AI features an example of the kind of technological progress we’d be missing if we broke up Google’s many arms into separate companies?
Not according to Doctorow.
He compares Google and other Big Tech companies to AT&T, a telecoms company which was finally broken up in the middle of the US-Japan trade war, despite fear that doing so would destroy America’s technology sector.
“Breaking up AT&T in 1982 was the best thing that could have happened to America,” he wrote. “AT&T’s core project in 1982 wasn’t fighting Japanese electronics companies: it was suppressing the growth of the internet in the USA, to preserve its monopoly on telecoms.”
AT&T made money by charging customers fees to use individual phone features. The internet was different: “The internet moved control over services to the edge of the network—the programs running on the computers in users’ homes (and later, pockets).”
In other words, he says, breaking up AT&T made Google possible.
Web 3.0 at an inflection point
Now, with the US in a trade war with another Asian country, this time China, the players are different, but the stakes are the same.
“The US government’s antitrust lawsuit against Google could result in Google being broken up into various smaller businesses,” Harold Montgomery, managing director of digital payments firm Wirex, told Decrypt. “Depending on how that goes it could accelerate the development of Web3 and further decentralize control of the web and make it happen faster.”
Jack O’Holleran, CEO of SKALE Labs, the team behind the eponymous protocol for creating Ethereum-compatible blockchains, seems to think Web 3 will happen no matter what.
“A government antitrust lawsuit is a great indicator of the sentiment of the people towards Web 2 giants,” he told Decrypt. “However, it will make a small dent in comparison to the impact of Web 3…History shows us that disruption more often than not, course corrects for companies that become too big.”
Justin Hunter is skeptical. The creator of a privacy-centric competitor to Google Docs, Graphite, as well as co-creator of SimpleID, a blockchain tool for in-app notifications, Hunter has dedicated his career to extracting the best aspects of Web 2 to help shepherd Web 3 into mainstream use.
Hunter compared the Google antitrust lawsuit not to AT&T but to another tech giant.
“I think the government will ultimately ‘win’ their case and we will see a breakup very similar to the breakup of Microsoft in the 90s,” he told Decrypt. “That breakup may have been a stumbling block but it didn’t prevent Microsoft from being part of an oligopoly. That is to say the antitrust case probably didn’t improve competition much in the long run.”
The Microsoft case ultimately resulted in its sharing its APIs with other companies, after Microsoft successfully appealed a ruling that would have required it to split its Windows operating system and software units into separate entities.
But Hunter nonetheless suggested the lawsuit presents an opening for blockchain companies. “Now is the time for Web3 to start figuring out how to reach users,” he said. “If there is a more competitive search landscape, there will soon be more competitive and open SEO opportunities.”
But his biggest concern is that “Web3 is barely at a stage where it is thinking about usability, let alone thinking about discoverability outside the crypto-native network.”
O’Holleran, however, is confident. “In the next decade the search engine we will all use will be community owned, open source, and governed by its users thanks to the decentralized internet,” he said.
Yes, but who will control my thermostat?
LINK Bulls Activate With 12% Daily Increase But Can They Break $12.5 Resistance? (Chainlink Price Analysis)
LINK/USD – Bulls Form Ascending Price Channel
Key Support Levels: $11.50, $11, $10.50.
Key Resistance Levels: $12.33, $13, $13.50.
LINK bounced higher from the support at $8.77 at the start of October. From there, it started to form an ascending price channel. The coin recently bounced higher from the lower boundary of this price channel as it reversed from the $9.80 support on Wednesday.
Yesterday, LINK pushed as high as $12.33, where it met resistance at a bearish .5 Fib Retracement combined with the channel’s upper boundary. LINK is now trading at $12 as it faces the $12.33 resistance.
LINK-USD Short Term Price Prediction
If the buyers can break the resistance at $12.33 and push above the channel’s upper boundary, the first level of resistance lies at $13. Above this, resistance is expected at $13.50 (bearish .618 Fib), $14, $14.72, and $15.20 (bearish .786 Fib).
On the other side, the first level of support lies at $11.50. Beneath this, additional support lies at $11, $10.50, $10, and $9.80 (lower boundary of price channel).
There is some bearish divergence that could potentially be forming between RSI and the price. It will be important to watch this divergence to see if it plays out over the next few days as it could potentially send LINK toward the lower boundary of the price channel again.
LINK/BTC – Buyers Battling To Reclaim 0.001 BTC.
Key Support Levels: 0.0009 BTC, 0.000868 BTC, 0.00082 BTC..
Key Resistance Levels: 0.00094 BTC, 0.001 BTC, 0.00108 BTC.
Against Bitcoin, LINK is currently trading at the 0.0094 BTC resistance level. The buyers attempted to break above 0.001 BTC earlier in the month but failed miserably. A bearish .382 Fib Retracement level provides the resistance here, and it caused LINK to roll over until support was found at 0.00082 BTC a few days ago.
Since reaching this support, LINK has rebounded higher and is now facing resistance at 0.00094 BTC before it can make another attempt at 0.001 BTC.
LINK-BTC Short Term Price Prediction
Looking ahead, once the buyers break 0.00094 BTC, the first level of resistance lies at 0.001 BTC (bearish .382 Fib). This is followed by resistance at 0.00108 BTC (bearish .5 Fib), 0.00112 BTC, and 0.00116 BTC (bearish .618 Fib).
On the other side, the first level of support lies at 0.0009 BTC. This is followed by added support at 0.000868 BTC, the rising trend line, 0.0008 BTC, and 0.00075 BTC (downside 1.414 Fib extension – purple).
The Stocahstic RSI recently produced a bullish crossover signal that allowed LINk to rebound higher.
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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.
2020 Presidential Election Structure in Georgia Hit With a Ransomeware Attack
Local government networks were the target of a recent ransomware attack in a county in the state of Georgia. The key voting infrastructure assault reportedly managed to affect “critical systems” within the network.
The First Ransomware Attack For This Election Season
According to a recent CNN news report, the attack on Georgia’s Hall County was disclosed on October 7, while the aftermath of the hit is starting to emerge now. As per the release “critical systems within the Hall County Government networks” suffered the intrusion and this might be the first ransomware attack for this election season in the United States.
Katie Crumley, a Hall County spokesperson, said that among the affected systems in the county are the signature database, plus a voting precinct map hosted on the county’s website. However, she added that the personnel is now being successful in bringing some of the programs back to operational.
“We are currently bringing various programs back online, and those two items are included in that process,”. However, the voting process for our citizens has not been impacted due to the network issues.” – Crumley added.
As per the news report, the belief is that the attackers didn’t aim to specifically targeted election systems and that several other county functions like phone and email services had suffered as well.
Officials from Hall County report that third-party cybersecurity professionals are working to hasten the recovery.
More Ransomware Attacks On The Horizon?
The Georgia Hall County ransomware attack has been reported as the first incident to directly strike election-related infrastructure. However, this wasn’t the sole case of such a scale in the last months.
“At least 18 county or municipal bodies have been impacted by ransomware since the beginning of September — about three per week — so it’s very likely that other bodies will be hit in the run-up to the election.” – Said Brett Callow, a threat analyst at the security firm Emsisoft.
Aside from this, ransomware attacks are omnipresent in other countries and companies. In July such an intrusion hit Argentina’s largest telecommunications company Telecom. Back then, the cybercriminals demanded a $7.5 million ransom to be paid with the privacy coin – Monero (XMR).
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