Month: June 2022

Social Media’s Role in Cryptocurrency Scams

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The influence of social media and crypto has given rise to a new form of scamming and fraud known as cryptocurrency scams, which have increased in number and severity over the past few years. According to a recent report, nearly $1 billion was lost through cryptocurrency scams in 2021, with an estimated 9 in 10 victims falling prey to fraudsters on Facebook, Twitter, and Instagram. With cryptocurrencies headed for mainstream adoption and regulations toward the system unclear, those who lose finances as the result of cryptocurrency scams are hoping to…

How A Morning Star Reversal Could Awaken The Bitcoin Bull Run

It is a stretch to say Bitcoin is bullish, but what if bulls were simply resting after a tough “evening” and are just about ready for a new “morning?” A potential, high timeframe bullish Japanese candlestick reversal pattern called a morning star could be predicting just that. Here is a closer look at the potential reversal signal and the conditions necessary for confirmation of bullish upside. A “Morning Star” Could Jump Start A Bullish Reversal Bitcoin has been in a brutal downtrend since November 2021. After a full month of…

Is Your NFT Investment at Risk? Hong Kong’s Securities and Futures Commission Has Some Words of Warning

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The Securities and Futures Commission (SFC) of Hong Kong, the financial regulator responsible for overseeing Hong Kong’s securities market, has issued an advisory warning to investors. The notice is about risks associated with purchasing and trading unregulated non-fungible tokens (NFTs). The advisory points out that NFTs do not have any legal protections to help ensure that they can be traded as freely and safely as other assets like stocks or bonds, despite their name suggesting they are similar to equity shares. As of such, the Securities and Futures Commission is…

SpartaCats Troll DOGE With Billboard Near SpaceX Office – Press release Bitcoin News

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press release PRESS RELEASE. SpartaCats, a novel meme-coin project based on BNB and the Everscale blockchain network, put up a digital billboard advertisement in Hawthorne, California, near the headquarters of Tesla and SpaceX. In the ad, you can see an image of cats taking off in a rocket, leaving behind a smoking dog. Next comes an image where cats drive dogs off the Moon in the style of the 300 Spartans. In the third image, the cats install their flag on the Moon, and finally, cats surround a dog, referencing…

A Look Inside MicroStrategy’s $2.4 Billion Loan Used To Buy Bitcoin

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Software firm MicroStrategy has cemented its position as a major Bitcoin player with its numerous large purchases. The company which is valued at $1 billion had put a significant portion of its own funds into buying BTC but the majority of the money used to purchase all of the bitcoin had been from loans. These loans which include convertible notes, senior secured loans, and bitcoin-backed loans account for $2.4 billion of its $3.97 billion BTC purchases. How The Loans Look MicroStrategy had used convertible notes to fund a good portion…

BNB Price Could Drop 40% Following SEC’s Investigation

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On June 7, the price of Binance Coin (BNB) price fell 7.3% to drop below $275, hitting its lowest level in three weeks. In addition, the price of BNB could fall another 25-40% in 2022 as its parent company, Binance, faces allegations of breaching securities rules and laundering billions of dollars in illicit funds for criminals. Binance Is in Hot Water In 2017, Binance raised $15 million in 16 days as part of an initial coin offering (ICO) during which it issued Binance coin (BNB) for $0.15 each to the…

BNB Price Could Drop 40% Folllowing SEC’s Investigation

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On June 7, the price of Binance Coin (BNB) price fell 7.3% to drop below $275, hitting its lowest level in three weeks. In addition, the price of BNB could fall another 25-40% in 2022 as its parent company, Binance, faces allegations of breaching securities rules and laundering billions of dollars in illicit funds for criminals. Binance Is in Hot Water In 2017, Binance raised $15 million in 16 days as part of an initial coin offering (ICO) during which it issued Binance coin (BNB) for $0.15 each to the…

Bitcoin Drop Below $30K Sheds $80 Billion From Crypto Mark

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As the effects of the recent bloodbath in the crypto market started vanishing, the fledgling Bitcoin, after a long time, reached near the $32,000 level yesterday. But again, it failed to hold above $30,000. Following nine red weekly candles, BTC retested $31,700 in the first green week on June 06 and then plummeted sharply in the next 24 hours at $29,000. Fortunately, BTC’s price is rising again and currently trading above $31,000. The fall of the fledging coin leads altcoins to face dumps, too, mainly affecting the prices of SOL,…

Why are Bitcoin Miners Capitulating? – Blockchain News, Opinion, TV and Jobs

By Marcus Sotiriou, Analyst at the UK based digital asset broker GlobalBlock Bitcoin yet again failed to sustain its rally over $30,000 yesterday, as it was harshly rejected by the key $31,500 level. This level is critical to overcome for Bitcoin to rally towards $35,000. Some on-chain metrics suggest that the bottom may not be in sight yet and there could be more selling pressure. This is shown by data from Glassnode, specifically the net unrealised profit/loss (NUPL), which is a measure of the overall unrealized profit and loss of the network as…