Background The U.S. government is offering up to $5 million for information leading to the arrest and conviction of Ruja Ignatova, the founder of the infamous OneCoin scheme. OneCoin Scam Ignatova, known as the “Cryptoqueen,” launched OneCoin in 2014 as a multi-level marketing (MLM) network. She falsely claimed it had a private blockchain, and the…
Crypto analyst Ali Martinez believes Bitcoin (BTC) is showing signs of a bullish trend. According to Martinez, whenever the Relative Strength Index (RSI) indicator has dropped into “oversold territory” on the daily chart over the past two years, Bitcoin has surged by at least 60%. RSI Oversold Signal In August 2023, Bitcoin’s RSI dipped into…
Bitcoin and other cryptocurrencies have been facing another week of outflows, leading to a decline in prices. Bitcoin Correction CoinShares reports that Bitcoin investment products have seen $630 million in outflows, suggesting a growing pessimism among investors due to expected interest rate hikes. This indicates a “true correction” may be underway for Bitcoin. However, short…
Former President Donald Trump has made a surprising move by becoming a strong supporter of cryptocurrencies. He has promised to support innovation and reduce regulations in the industry. Crypto President Trump Trump’s pro-crypto stance has resonated with many who are frustrated with the current administration’s policies. He has even accepted campaign donations in cryptocurrencies like…
Cooling Off on Selling Shiba Inu (SHIB) is showing signs of recovery as investors seem to be holding onto their tokens. This has helped boost the price, which has risen in the past day. Decline in Exchange Flows Data shows that the amount of SHIB flowing into exchanges has decreased. This is good news because…
Hong Kong is making waves in the crypto world, with plans to become a major player in DeFi (decentralized finance) and the Metaverse. DeFi: A Growing Force Research shows that DeFi has exploded in value, from $6 billion in 2021 to over $80 billion in 2023. While it’s still a small part of the crypto…
Adoption Curve Analysis Analyst Willy Woo predicts that Bitcoin could reach a size comparable to the US dollar based on its adoption curve. Currently, Bitcoin’s market cap is around $1.2 trillion, but Woo believes it needs to grow tenfold to reach $10 trillion and become a reserve asset. Comparison to Internet Adoption Woo compares Bitcoin’s…
Whales’ Behavior on BitMEX A recent analysis has revealed a pattern in the Ethereum exchange reserve on BitMEX. When the reserve increases, it suggests investors are depositing ETH for potential selling, which could be bearish for the price. Conversely, a decline in the reserve indicates investors are withdrawing ETH for long-term holding, which could be…
Ongoing Sell-Off The German government has continued to sell off its Bitcoin holdings. Today, the Federal Criminal Police Office (BKA) sold about 2,786 BTC, worth around $67 million. Transfers to Exchanges Five of the transactions were direct transfers to crypto exchanges and market makers, suggesting the government intends to sell. The largest transfers included: 125…
Bitcoin recently hit a roadblock at $62,498, indicating that the bears are in control. This failure to break through a key resistance level suggests that selling pressure is strong and could lead to further declines. Technical Indicators Point to Bearishness Technical indicators on both the 4-hour and 1-day charts show that Bitcoin is in a…
