Day: November 21, 2019

Crypto Market Could Dive To $200B, Bitcoin Turns Red: BCH, XLM, EOS, TRX Analysis

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The total crypto market cap is currently in a bearish zone below the $220.0B resistance. Bitcoin price is trading above the $8,000 support and remains at a risk of more losses. BCH price is now consolidating losses below the $250 resistance area. EOS price is declining and approaching the $3.050 and $3.000 support levels. Stellar (XLM) price is down more than 2% and it is now below the $0.0650 support. Tron (TRX) price is down close to 4% and it is trading near the $0.0165 support. Bitcoin (BTC) and the…

Ripple (XRP) Price Facing Significant Resistance, Time To Sell?

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Ripple price is currently struggling to surpass the $0.2560 and $0.2600 levels against the US dollar. The price is likely to decline unless there is a clear break above the $0.2600 resistance. This week’s major bearish trend line is active with resistance near $0.2575 on the hourly chart of the XRP/USD pair (data source from Kraken). A clear break below the $0.2500 support might start another decrease in the near term. Ripple price is facing a lot of key hurdles against the US Dollar and bitcoin. XRP price is likely…

Ethereum (ETH) Medium Term Trend Turns Negative, Bears Eye $160

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Ethereum is currently consolidating losses above the $172 support against the US Dollar. Bitcoin price is also consolidating above the key $8,000 support area. There is a new connecting bearish trend line forming with resistance near $176 on the hourly chart of ETH/USD (data feed via Kraken). The price is likely to continue lower as long as it is below the $180 resistance. Ethereum price is showing signs of bearish continuation versus the US Dollar, similar to bitcoin. ETH bears seem to be eyeing a test of $164 or even…

OneCoin Fugitive Cryptoqueen Allegedly Paid $50 M to Lawyer to Launder Funds

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United States prosecutors told a Manhattan jury that lawyer Mark S. Scott was paid $50 million to help OneCoin co-founder and current fugitive Ruja Ignatova launder $400 million. On Nov. 20, Law360 reported that the Manhattan U.S. attorney’s office and the New York County district attorney’s office are in the last phase of prosecuting Scott,  a former partner at law firm Locke Lord, who allegedly received $50 million to launder a whopping $400 million for Ignatova, also known as the “cryptoqueen.” Crypto scam raised $4.4 billion OneCoin is among the…

US Think Tank Releases Report on Investigation Into Illicit Transactions on the Dark Web

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United States think tank The Rand Corporation has taken a closer look at the dark web, where criminal activities are difficult to discover, monitor, and investigate for law enforcement. On Nov. 20, The Rand Corporation, the Police Executive Research Forum, and the University of Denver on behalf of the National Institute of Justice released a report that dives into a variety of criminal aspects of the so-called dark web. Dark web provides level of anonymity by using crypto The report was compiled during a workshop where law enforcement practitioners and…

PayPal CEO Hodls Bitcoin and Only Bitcoin

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Dan Schulman, CEO of payment processor PayPal, revealed during an interview that he does indeed own Bitcoin (BTC). On Nov. 20, Fortune reported that PayPal CEO Dan Schulman stopped by its offices where he discussed a variety of topics, including the reason for PayPal’s withdrawal from the Libra Association and whether he is the proud owner of any cryptocurrencies. PayPal was the first to leave Libra Schulman explained that PayPal withdrew from Libra because the company decided to put its attention elsewhere. According to the CEO it was a question…

Digitex Futures Alpha Testing Is Causing Quite a Stir

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Many people in the crypto space had written off Digitex Futures. The company with ambitious plans to remove commissions from bitcoin futures trading failed to deliver on its promises twice. Yet, after some very public scraps with development teams and backlash from investors, the company is gearing up for its public testnet launch on Nov 30. Closed testing has already begun–and the feedback is said to be extremely positive. Digitex Finally Has a Working Product So far, around 100 or so testers are taking a look at the change. The…