Summary:

• Bitcoin (BTCUSD on xStation5) slumped more than $400 overnight due to another theft from a cryptocurrency wallet
• Bitcoin has already tested its crucial support at $8000
• Noteworthy findings from a CNBC’s survey on Bitcoin carried out among CFOs

We had a lively Asian session on Bitcoin and other cryptocurrencies alike as the former declined quite severely on the back of another theft from a cryptocurrency wallet. There was a report that as much as $31 million was taken from the Tether Treasury wallet on 19 November and sent to an unauthorized Bitcoin address, according to the announcement on the Tether’s website. In the statement one may read that the stolen tokens will not be redeemed and the company is in the process of attempting token recovery to prevent them from entering the broader ecosystem. In effect the virtual currency slipped more than 5% or over $400 from its peak from above $8200.

Bitcoin collapsed overnight but it was able to erase almost all of its losses afterwards. Source: xStation5

As you can see at the chart above the Bitcoin price made a long shadow suggesting that a pullback was just short-lived. As a result Bitcoin tested its notable support line placed at $8000 which could open space for further rises ahead. Either way, even as an impact seen in the digital currency has been quite irrelevant thus far, such kind of incidents tend to dent confidence in the security of cryptocurrencies. On the flip side, keep in mind that Bitcoin was able to establish its new highs in the past following major thefts from exchanges including Bitfinex and Mt. Gox.

Dash (DSHUSD) failed to break through $495, the level underpinned by an upper boundary of an ascending channel. Source: xStation5

Beside Bitcoin it’s worth taking a closer look at Dash which took a stab at breaking $495 overnight but it failed to do so. As a result the price has withdrawn and slipped to the channel anew and its limits should constitute the closest support and resistance for traders. Once buyers beat their nearest resistance zone, they could eye as much as $555 as the subsequent objective.

We’ve written many stories regarding opinions of the most prominent people in the financial world so far and today we would like to continue this thread. Cutting to the chase, CNBC conducted a survey on Bitcoin among a group consisting of 97 CFOs, however just 43 of them responded. Firstly 27.9% of surveyed CFOs said Bitcoin is a ’fraud’ while as much as 30.2% said that they don’t know enough about the digital currency to have an opinion. It’s interesting that while in Europe, the Middle East and Africa almost 42% compared Bitcoin to a bubble the outcome was different in case of the US where just shy of 21% did such a comparison. Although there is curiosity among CFOs with regard to Bitcoin many of them have numerous doubts and this could change when customers become more interested in investing in or via Bitcoin.