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2023-03-26 22:49:17 Dave the Wave: Long-term bitcoin indicators turn green

Bitcoin may be entering a bullish phase. The cryptocurrency's long-term metrics are turning positive.

Dave the Wave is the analyst who predicted the collapse of bitcoin in 2021. Now he tells his 140,000 Twitter followers: bitcoin is going green.

The analyst turned his attention to the MACD, the weekly convergence-divergence of bitcoin's moving averages. The MACD is an indicator that detects trend changes based on the convergence or divergence of moving averages. Dave the Wave has noted six times in bitcoin history when the MACD has turned bullish right before a major rally that has been going on for weeks or months. One of them is now.

In the long run, Dave suggests valuing BTC in dollars or gold. He thinks: within 20 years, bitcoin will reach the capitalization of gold. That would yield 22 "X's."

22x would give BTC a market capitalization of $12 trillion [converted to 2023]. That is almost equivalent to the current market capitalization of gold, $13 trillion.

For now, bitcoin is struggling to hold $28,000, trading sideways.

Earlier, analyst Benjamin Cohen looked at the prospects for ether. He thinks: the second largest coin is not ready for a bullish rally. Open / Comment

2023-03-25 19:26:01 Founder of bankrupt crypto project AP Private Equity kidnapped and tortured

CTV News Toronto (CTVNT) has obtained documents revealing the details of the incident involving Aiden Pleterski. He was kidnapped by criminals in downtown Toronto and tortured and beaten for three days as the criminals tried to get a ransom for his life.

"He was kidnapped and held for about three days, driven to various parts of southern Ontario, beaten, tortured, allowed to make phone calls only to specific people and demanded a multi-million dollar ransom," according to a court filing on Pleterski's abduction.

A Toronto police spokesman declined to comment on witness statements, the list of suspects or the status of arrests made in connection with the case in the interests of the investigation.

"Aiden was running a business that he told people he would invest their money in, but that didn't happen. He didn't do any of the things he promised. And obviously he owes people a lot of money," commented bankruptcy trustee Rob Stelzer.

Recall that 23-year-old founder of AP Private Equity has attracted about $40 million to its crypto project. Pletersky guaranteed investors that he would increase their investment by at least 7%, but in fact more than 98% of the collected funds were not invested, and were used to purchase luxury goods and personal enrichment. Open / Comment

2023-03-24 13:44:51 Interpol confirmed the arrest of crypto-fugitive Do Kwon

Interpol reports that the man arrested in Montenegro is Kwon Do Hyun, also known as Do Kwon, the disgraced founder of a bankrupt cryptocurrency company who is wanted in South Korea and the United States on charges of fraud and other crimes.

Kwon, a South Korean citizen, founded the blockchain platform for the stable mint TerraUSD and its sister coin Luna. Both coins lost their value in a matter of days in May 2022, wiping about $40 billion from the crypto market and causing panic in the speculative sector.

According to a CNN report, Kwon's identity was confirmed through fingerprint matching, the national Interpol central bureau in Seoul told CNN on Friday.

A day earlier, Montenegrin Interior Minister Filip Adzic wrote on social media that a man believed to be Kwon had been arrested in the capital Podgorica.

Kwon was based in Singapore when he ran blockchain platform Terraform Labs. In December, prosecutors in Seoul told CNN that the crypto-entrepreneur was in Serbia, where he had gone into hiding after leaving Singapore.

In September, a South Korean court issued an arrest warrant for Kwon after investors accused him of fraud after the company collapsed.

Kwon was charged with fraud and violating South Korea's capital markets law. In October, he said he did not believe the charges were legitimate and said they were "politically motivated."

The cryptocurrency developer has repeatedly stated on Twitter that he is not "on the run," but has refused to disclose his whereabouts because of concerns for his personal safety. Open / Comment

2023-03-23 19:59:59 Liquid Mining will launch global sales on April 1st, 2023.

The presale and beta testing phases of Liquid Mining are coming to a successful end!

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Taking into account that public sale start and beta testing end will happen in a same span of time, users will receive their rewards for participating in the referral system during April.

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2023-03-22 14:02:40 The head of OneCoin pyramid scheme compliance faces up to 40 years in prison

The U.S. Attorney's Office has charged Irina Dilkinskaya, the former head of the legal department and compliance of the cryptocurrency pyramid OneCoin, with fraud and conspiracy to launder funds.

According to the U.S. Justice Department, the defendant helped launder more than $400 million in illicit proceeds from OneCoin through shell companies. In addition, she destroyed compromising evidence after the arrest of the company's lawyer, Mark Scott.

On March 20, Dilkinska was extradited from Bulgaria to the United States. She faces up to 40 years in prison on the charges.

The financial pyramid scheme OneCoin was founded in 2014 by Ruja Ignatova together with Sebastian Greenwood. The project was initially positioned as a highly profitable cryptocurrency, in which investors profited not only from the growth of the asset, but also for attracting new participants.

As a reminder, in November 2019, Mark Scott was convicted by a court in the Southern District of New York of laundering nearly $400 million.

In the spring of 2020, Konstantin Ignatov, the brother of OneCoin's founder, was detained at the Los Angeles airport. He later pleaded guilty to several charges.

In February 2023, journalists reported the murder of Ignatova, who was on Europol and the FBI's most wanted list of criminals. Open / Comment

2023-03-21 17:49:00 Vice president resigned from the investment company Paradigm Capital

The vice president of cryptocurrency and Web3 protocol development, investment firm Paradigm Capital, has left the company. It was about Tal Broda's decision to leave the team and leave the organization. He announced this to his, already former colleagues, in an internal corporate memo back in late February 2023.

"Although I believe strongly in Paradigm Capital's mission and in the company's ability to realize its vision, I have decided that leading engineering activities in this organization, is no longer appropriate for me at this point in my life," Broda said. His departure was another shock for one of the cryptocurrency industry's largest investment funds.

The fact is that since the end of 2022, Paradigm Capital has lost several key engineers and other specialists at once. They were forced to leave the team amid a prolonged crisis in the industry. According to a Paradigm spokeswoman, the downturn in the cryptocurrency market led to the reduction of several internal projects at the firm.

The company has had to make cost cuts. In connection with this, part of the staff, including highly qualified specialists, was laid off.

Company officials recalled that Broda joined the Paradigm Capital fund not long ago. He joined the team less than a year ago in April 2022. The specialist remained in his position until mid-March of this year and only now announced his departure publicly. Prior to that, he helped with the day-to-day management of the engineering team.

Prior to joining Paradigm Capital, Broda led the platform at Citadel Securities. He led large engineering teams of more than 50 people. "I decided to pursue an opportunity that was more in line with my previous experience," he wrote. Open / Comment

2023-03-20 15:25:42 Taiwan will pass laws to regulate digital assets

Taiwan will adopt special legislation that will give the local Financial Supervisory Commission (FSC) a mandate to regulate cryptocurrencies. The information was confirmed by the head of the agency Huang Tenmu, writes Bloomberg.

Speaking to CoinDesk, XREX platform co-founder and CEO Wayne Huang welcomed the imminent arrival of regulatory clarity. He said industry players can join forces to help the FSC develop a set of rules.

Principles for the document are expected by June, with a draft bill in the coming months.

The impetus for the initiative may have come from the FTX collapse - locals were, in relative terms, the largest users of the platform.

The island had previously taken a neutral approach to digital assets, requiring crypto exchanges only to comply with AML rules.

According to Juan, the FSC will focus on regulating virtual assets related to payments and trading, while the cabinet will hand over the rest to other government agencies. In particular, stabelcoins could be the responsibility of the central bank.

The commission would not regulate NFTs because of their "immature nature as an asset class," according to the CEO of XREX.

"Because of their extensibility and componentizability, non-interchangeable tokens can represent a wide range of things, from commercial products to commodities to securities," Wayne explained.

As a reminder, in July 2022, the FSC sent a letter to the banking association demanding a ban on the use of credit cards to pay for digital assets. Open / Comment

2023-03-19 22:02:15 Complaining about "Crypto Winter"?

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2023-03-19 18:23:52 56% of Dogecoin holders in profit, 65% of Shiba Inu holders in loss

Blockchain analysts at IntoTheBlock noted that most owners of the cryptocurrency meme Dogecoin (DOGE) are making a profit, while holders of the rival Shiba Inu (SHIB) are doing much worse.

According to researchers, 56% of DOGE holders are profiting from their investments, 34% are making losses, and 10% have reached the break-even point.

At the same time, only 29% of SHIB holders have "profit" status, while 67% have suffered financial losses.

This month, the Shiba Inu ecosystem saw the beta release of Shibarium's long-awaited Level 2 scaling solution. The Layer 2 protocol is built on the Ethereum smart contract platform.

Once the beta is completed, the Bone ShibaSwap (BONE) token will act as a management token for the new ecosystem, and the digital asset will be used to pay gas fees.

Lead developer Shiba Inu Kusama warned that the coins in the Shibarium beta are not real, and users should not spend their SHIBs trying to accumulate them.

All tokens on Puppynet are NOT real. Don't spend your hard-earned SHIB on these tokens, no matter how hard the salespeople try.

The project, announced back in May 2021, will allow developers to create low-cost and scalable applications. The beta testing phase should take about two months, and possibly until July. Open / Comment

2023-03-18 14:26:11 Smart Contractor: There's going to be a big Ether rally

Smart Contracter follows the movements of major ETH holders and thinks: Buterin's crypto will rise sharply.

Smart Contracter is the same person who predicted bitcoin's fall in 2018. Now he's talking about the rise of ether.

ETH is in correction and ready to grow:

ETH/BTC just hit a six-month low, just 3% below my main buying zone.

Not in the circumstances I expected this to happen (I thought ETH and BTC would fall, but ETH more so), but there is no chance I would miss the coming monster ETH rally.

The contrarian is looking at the ETH/BTC chart. And here's his explanation: ETH/BTC is correcting downward and almost touched Fibo support at 0.618. This level is called the bounce point.

The trader also looks at the movements of the top players. He studied the Santiment data. According to them, sharks (that's like whales, only smaller) have accumulated 3.6 million ETH worth $6.1 billion in 2022. That's a big number. The whales themselves (addresses with 10,000 to 10,000,000 coins) got rid of 9.4 million ETH in 2022.

Finally, Elliott waves are also for the growth of crypto. Waves reveal the behavior of a broad audience. This is where the ground is ready to move up. Open / Comment