Author: StanNordFX   |   Latest post: Wed, 21 Oct 2020, 10:48 AM


CryptoNews of the Week

Author: StanNordFX   |  Publish date: Wed, 21 Oct 2020, 10:48 AM



- The Darkside Hackers hacker group donated $10 thousand each in cryptocurrency to two charities. According to the BBC, the hackers received this money by attacking several large companies with a ransomware virus. At the same time, the hackers released a message that says: “We believe it would be fair to send some of these companies' money to charity. It does not matter how bad you feel about our work. But we are pleased to know that we have helped change someone's life."

- According to the analytical service Glassnode, the number of addresses that store more than 100 BTC has grown to 16,159, reaching the maximum value in six months. The total number of addresses with a non-zero balance is approaching 32 million.
According to another analytical agency, The Block, in addition to the growth in the number of wallets, the number of transactions and the volume of commissions in the BTC blockchain are also growing. Over the past quarter, transactions worth $225 billion were made on this network. That is, on average, users were conducting transactions for $2.4 billion per day.

- Anton Kravchenko, CEO of the investment company Xena Financial Systems, advised keeping bitcoin for the long term: in his opinion, the rate could reach $14 thousand by the end of the year, and there are no obvious reasons to sell BTC now. Maxim Keidun, CEO of the HodlHodl trading platform, agrees with his colleague. “Bitcoin is trading well below the historic high of $20K,” he says, “and the likelihood of repeating the record is high. Among the reasons are the pandemic, the money printing press and the growing popularity of bitcoin with large companies."

- A well-known Hungarian politician resigned after being accused of illegal mining. This is reported by AMB Crypto with reference to local media. Tamás Borka-Sás chaired the Finance and Development Committee and was a member of the Hungarian Socialist Party. As a result of a police visit to his office, several computers were confiscated, presumably for mining bitcoin and ethereum, which were powered by stolen electricity paid from the state budget. In addition, this mining “farm” was hidden in a makeshift wooden container, causing the risk of ignition and endangering the lives of employees working in the building.

- Co-founder of Morgan Creek Digital investment firm Anthony Pompliano increased accumulations in the main cryptocurrency from 50% to 80%. He spoke about this in the Pomp Podcast. The remaining 20% of its assets are in real estate, fiat currencies and investments in startups.
Citing investments in Tesla stock and Bitcoin as examples, Anthony Pompliano noted that “the target market for Bitcoin is much larger than the target market for Tesla. There is also a non-economic argument: if Bitcoin becomes a global reserve currency or gains global acceptance, it will create a much fairer world. I think this is an important aspect, "the investor said, adding that he has no plans to sell BTC, even if its price reaches $100 thousand by the end of 2020.
Earlier, the head of Morgan Creek Digital said that with the base forecast, bitcoin will rise to $100,000 in 2021, but if the conditions are more favourable, the rate can grow to $250,000.

- Entrepreneur Jörg Platzer has closed his Room 77 bar, which accepted bitcoin since 2011. As a result, this establishment has become a cult destination for the crypto community. Bitcoin Core developer Eric Lombroso noted that his visit to Berlin was never complete without a visit to Room 77. “This place will forever remain part of bitcoin history,” he wrote. The owner did not give a reason for the bar's closing. He thanked customers for the tips and stressed that “no one else will stop bitcoin.”

- Popular TV presenter and long-time bitcoin supporter Max Kaiser believes that at current levels, bitcoin futures traders are suppressing the price of BTC to give institutional players a chance to "load the boat." However, once the asset reaches the $28,000 mark (the interim benchmark set by Kaiser), the number of coins for sale will go zero, and governments and institutions will buy cryptocurrency directly from the miners.
“For the poor of this world, the current price and availability of BTC,” says Kaiser, “is the only opportunity in life to purchase non-forfeitable hard money before the price of it rises to 40-80 times, and prices will soar to the level of golden parity by around $400,000.”

- According to the well-known bitcoin supporter Mark Yusko, representing Morgan Creek, over the next 30 years, cryptocurrencies will finally replace fiat money. The businessman sounded his forecast on the air of Dash Dinheiro Digital channel. Yusko said interest in cryptocurrencies is growing around the world. In parallel, there has been a decline in cash use. However, it cannot be guaranteed that Bitcoin alone will benefit from declining interest in traditional payment instruments. People can start using other cryptocurrencies more widely.
But BTC has its flaws as well, Yusko noted. For example, compared to the Visa payment system, transactions on the bitcoin network take longer to process.

- "Crypto Baron" and the inventor of the famous antivirus, John McAfee published the first tweets from a Spanish prison in his account, where he ended up after being arrested at the request of the US authorities, who accused him of tax evasion using cryptocurrencies.
“I'm happy here. I have friends. Good food. Everything is fine,” he wrote. McAfee, awaiting extradition, issued a warning to his fans: "You know, if I hang myself like Epstein, it won't be my fault." In his first prison tweet, McAfee admitted that he misses only his wife in prison: “She was my inspiration, my muse, friend, confidant and lover. She is encouraging and supportive of me, she is the cause of my life.”
Janice McAfee, John's wife, said the day before that her husband got limited access to Twitter behind bars: “Don't ask me how. Just appreciate the riddle.”

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CryptoNews of the Week

Author: StanNordFX   |  Publish date: Wed, 14 Oct 2020, 11:19 AM


- There has been a wave of calls in Japan about the mining of educational institutions and rural administrations from scammers who demanded a ransom in cryptocurrencies. The corresponding incidents have been recorded in at least 18 prefectures of the country. “Bitcoin was the most popular choice for criminals,” said Japan Today. "But in none of the cases has the information about the explosives been confirmed."
One of the incidents occurred in the town of Yamagata. Criminals demanded 40 bitcoins for clearing the building there. The authorities have already raised 450 thousand dollars and were going to transfer them into cryptocurrency for ransom. But when police and deminers went to the scene, no explosive devices were found. As a result, in none of the cases the demining ransom was transferred.

- Ethereum mining revenues have grown by about 40 percent over the past month. According to the analytical platform Glassnode, the main source of new earnings was the increased commissions. The popularization of the DeFi market was also reflected in the income of miners, which significantly increased the number of operations performed on the Ethereum blockchain.
However, the situation could change dramatically if Joe Biden wins the presidential election. This will cause a new wave of inspections and tightening of control over the financial market, due to which some of the DeFi projects will be closed. In this case, the industry will sag again, although the fall will not be as noticeable.
But Bitcoin, according to Bloomberg experts, will only win if Joe Biden wins. Under Donald Trump, the emphasis was on strengthening the dollar and all industries associated with it. Analysts are confident that the new American administration will think more progressively in financial matters, as a result of which the adoption of cryptocurrencies by regulators will accelerate significantly, while other assets will simply lose their relevance.

- Founded by Binance, the Blockchain Charity Foundation (BCF) continues to raise donations for the purchase of personal protective equipment against coronavirus infection. More than $4 million in cryptocurrency has been raised as of now.
The organization has already provided aid to 20 countries around the world, purchasing more than 450 million masks and other protective equipment for their medical facilities.

- A sheep farmer from Lincolnshire has been sentenced to 14 years in prison for extorting ?1.4m worth of bitcoins from supermarket chain Tesco, the Daily Mail reports.
For two years, 45-year-old Nigel Wright put cans of Heinz and Cow & Gate baby food brands on the shelves of the chain stores, which he stuffed with metal fragments, including shards of a stationery knife. After which he demanded ransom in exchange for a promise to reveal the location of the dangerous cans.
The sheep breeder was detained after a detective posing as a Tesco employee transferred ?100,000 in cryptocurrency to him. Two women testified in court, who almost fed the children with food containing metal fragments. According to one of them, her husband found a piece of a knife blade at the bottom of the can.
As a result of Wright's threats, Tesco had to recall from stores a total of 140 thousand cans of baby food, 42 thousand of them were destroyed. It cost the trading network ?2.7 million in losses.

- The manager of the investment company Cane Island Alternative Advisors, Timothy Peterson, is convinced that the price of bitcoin with a 90% probability will not fall below $11,000. The strength of support at this level is due to "long-term, fundamental trends."
According to the expert, Metcalfe's Law Value Approach has already helped him to successfully forecast the BTC price in late 2018 and into 2019. Let us clarify that this law states that the utility of a network is proportional to the square of the number of its users. In this context, the value of bitcoin depends entirely on the number of people using it.
According to Peterson's calculations, on November 30, 2020, the price of bitcoin will be above $12,000 with a 90% probability.

- CryptoQuant CEO Ki Young Ju said that since no Bitcoin inflow has been recorded, the coin will continue to rise.
To assess the volume of BTC transfers to exchanges, CryptoQuant has created its own indicator All Exchanges Inflow Mean, and now it remains in the “safe” zone: the “whales” are in no hurry to get rid of their reserves. And it looks like bitcoin's rise above $11,500 won't lead to its massive sell-off.

- Swiss luxury watch maker Franck Muller has created an exclusive line of bitcoin-themed watches called The King, which is available in two versions, each with just 10 pieces. The name correlates with the status of bitcoin, which is considered the king of cryptocurrencies.
You need to be a real bitcoin fan and a wealthy person to buy this watch. Although the price of these exclusive accessories is not yet known, there is still a benchmark: the Encrypto watches of this company cost from 10,000 to 54,000 euros.
A feature of The King model, like the Encrypto lines, is a set of QR codes on the digital dial. By scanning it, the owner of the jewelry can verify their personal bitcoin accounts.

#eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #forex #cryptocurrencies #bitcoin #stock_market


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CryptoNews of the Week

Author: StanNordFX   |  Publish date: Wed, 7 Oct 2020, 11:19 AM

- The creator of the well-known McAfee antivirus has been detained in Spain and is now to be extradited to the United States. In addition to tax evasion, the US authorities also accuse John McAfee of intentionally failing to file tax returns from 2014 to 2018. The indictment alleges that the businessman received millions of dollars in revenue from cryptocurrency promotion, consulting services, speeches and the sale of the rights to a documentary about himself.
The US authorities are confident that McAfee evaded tax in many ways, channeling money into bank and cryptocurrency accounts, investing in real estate, yachts and other luxury goods registered in other people. And the businessman himself, being the candidate for the US presidency from the Libertarian Party, admitted in his election video that he had not paid taxes for many years. Now he faces a prison sentence of up to 5 years on each of the charges of tax evasion and another year in prison for each of the five episodes of failure to file a tax return.
Recall that John McAfee became famous in the field of cryptocurrencies after he made a bet in the summer of 2017 that the price of bitcoin will reach $500 thousand by 2020.
- Bitcoin capitalization could exceed $5 trillion. According to experts from one of the shareholders of Tesla, the ARK Invest fund, this will take еру coin up to 10 years, but massive investments may begin earlier.
The ARK Invest report says that over the next five years, the capitalization of bitcoin will approach $1 trillion. After that, growth will occur at a faster pace, which will be reflected in the value of the asset. So, according to Bobby Lee, a member of the board of directors of the Bitcoin Foundation Foundation, by 2028 the price of the main coin can reach $500 thousand.
Еhe capitalization of bitcoin is about $ 200 billion now. According to the analytical service CoinGecko, it has remained practically unchanged over the past two months, although there were prerequisites for this. “Some investors still doubt the prospects and merits of bitcoin. Because of this, the main coin cannot exit the narrow frame. This has a particularly negative impact on the activities of traders who cannot open long-term positions, fearing serious drawdowns of the coin,” CoinGecko experts explain.
- The American Chamber of Digital Commerce has launched the Crypto for Congress campaign, under which it will donate $50 in bitcoins to each of the election campaigns of the members of the US Congress. This educational initiative should increase the attention of the people's representatives to blockchain and digital assets. In addition to bitcoins, congressmen will have the opportunity to complete relevant online training.
At the same time, overseas, British politician Godfrey Bloom added bitcoins to his investment portfolio for the first time in his life. At the same time, the 70-year-old aspiring crypto-investor admitted that he would like to learn more about digital assets. Godfrey Bloom was an MEP from 2004 to 2014. During this time, he distinguished himself with harsh statements against the traditional financial system, claiming that the banking structure is built on fraud.
- According to Chainalysis data, Latin America's share of the global cryptocurrency economy is about 7%. The largest activity is in the remittance sector, where Mexico leads (11% of total transfers).
According to Daniel Cartolin, a spokesman for Chainalysis, traditionally the volume of remittances between this country and the United States is very large. And cryptocurrency allows to reduce transaction costs and facilitate the process of sending and receiving funds. "One doesn't need to go to websites like Western Union or Moneygram to carry out a transaction. It can be done over the phone,” said the expert in an interview for El Economista.
- Bloomberg analyst Mike McGlone said In the monthly issue of the cryptocurrency market digest that the bitcoin rate could exceed $100 thousand within 5 years. Judging by the document, the logic of analytics is very simple: in 2011 BTC was worth about $10, in 2013 - $1,000, and it took four years to reach the $10,000 mark in 2017. That is, the growth rates are slowing down, and it will take not four, but eight years to conquer the next peak. Given that three of them have already passed, BTC will reach $100K by 2025.
Mike McGlone also expects BTC to return to 2019 highs of $14,000 by the end of this year.
- Another scam is unfolding on Twitter, aimed at siphoning bitcoins and ethereums from gullible users. The protagonist of the deception was again Elon Musk. Although it is clear that neither he nor his company have anything to do with this scam.
The message being circulated states that any registered user can receive bitcoins or ethereums by leaving their address. In addition, the one who sends a certain amount of cryptocurrency to Musk's company will become a participant in the draw with the main prize — the Tesla Model S car.
- A report from the CoinMeitrcs analytical service team says that against the background of weak volatility in the crypto market, investors prefer to keep coins, rather than sell them. The build-up intensified after the March collapse. Investors have been transferring bitcoins from exchanges to so-called cold wallets in recent months, reflecting their desire to switch to long-term storage of cryptocurrency.
The researchers found that the number of addresses holding BTC for more than one year reached its highest level in a decade last month - 63.5% of bitcoins have not moved anywhere since the autumn of 2019.
- The CEO of the venture capital company Social Capital, Chamat Palihapitiya, gave an interview to CNBC, during which the topic of cryptocurrencies was raised. He said he has held investments in bitcoin since 2012 and continues to build them up. When asked what he thinks about bitcoin, given the increased interconnection of the cryptocurrency market with the stock market, the investor replied that he still sees bitcoin as a hedge against the modern financial system.
“At a fundamental level, BTC does not correlate with traditional markets because it is based on a set of beliefs that are exactly the opposite of the attitudes that govern the modern world. This is the insurance I use to sleep well at night, in case the central banks and world authorities come across a bomb,” Palihapitiya said.
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