Bitcoin today on July 19, 2024, surged over 6%, breaking back above $65,000 and reaching over $67,000. This price movement occurred amidst a global IT outage on July 19, which disrupted various services worldwide, including airlines, banks, media companies, and the London Stock Exchange.
The global IT outage was identified as a technical issue in a software update from the cybersecurity firm CrowdStrike. Microsoft confirmed that the underlying cause of the outage had been fixed, but residual impact was still affecting some Office 365 apps and services.
CrowdStrike CEO George Kurtz apologized for the technical problems and stated that a solution was being implemented. The issue was not a security incident or cyber attack, according to both CrowdStrike and the UK’s National Cyber Security Centre.
The outage caused significant disruptions, with thousands of flights cancelled globally. In the UK, GPs and pharmacies experienced difficulties in booking appointments, and some hospitals declared critical incidents. The London Ambulance Service reported a “huge increase” in the number of calls to its 999 and 111 services.
The outage also affected businesses, with long lines forming at airports and check-in counters. Microsoft advised affected users to try rebooting their systems multiple times to resolve the issue.
The incident highlighted the vulnerability of interconnected systems and the potential for widespread disruption from a single technical problem.
Bitcoin to reach new all-time high?
Bitcoin has made strong comeback in the past week, gaining over 16%, according to CoinMarketCap.
Based on recent predictions and market trends, it seems that Bitcoin is highly likely to reach new all-time highs very soon. Many analysts and experts have expressed bullish sentiments about Bitcoin’s price potential, with some even predicting that it could reach new highs in the coming weeks or months.
@JavonTM1 on July 18, 2024, mentioned in a post on X that Bitcoin has confirmed its breakout and can be set for another >15% movement from here into the $76,000s, setting new all-time highs, and even then, prices may not be done climbing.
At the time of press, the Bitcoin price today was $67,007 with a 24-hour trading volume of over $36 billion. Bitcoin has gained 5.35% in the last 24 hours.
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