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Coinbase and Bitcoin Crashed Together. Coincidence
Bitcoin Rallying Hard, Gold Rallying Hard - Not a Coincidence
"CSW said if/when he gets his BTC he will dump it by executing a rolling iceberg order coupled with a 10x leveraged short, operating across multiple exchanges, with simultaneous doubling of the hashrate coinciding with a halving event! Open disclosure to all Bitcoin users."
The steep decline in Bitcoin price has coincided with record volume of the recently launched Bitcoin ETP on the SIX Swiss Stock Exchange, suggesting that institutional investors are may be buying the dip. Bitcoin ETP $HODL Sees Record Volume Earlier in November
Below are notable difficulty adjustments when hash rate fell and block times become slower for Bitcoin.
26 Mar 2020 [difficulty adjustment -15.95%, avg block time 11min 54secs]. On the 28th price crashed from $6674 to $6138 ( -8%).
8 Nov 2019 [difficulty adjustment -7.1%, avg block time 10min 46secs]. On the same day price crashed from $9234 to $8783 ( -4.88%).
The next big adjustment was around Nov to Dec 2018 and there were 3 big adjustments with high block times.
19 Dec 2018 [-9.56%, avg block time 11min 3secs]
3 Dec 2018 [-15.13%, avg block time 11min 47secs]
17 Nov 2018 [-7.39%, avg block time 10min 48secs]
There was huge drop off starting on 14th Nov all the way to a bottom on 14-15th Dec ($6351 to $3288 around -48%).
Current situation: We are 1 day 10 hours from the next difficulty adjustment. Projected difficulty adjustment is -5.61% (https://fork.lol/pow/retarget), which could indicate a small dip. However, take note that the date of last adjustment was the 5th and the 3rd halving was on the 11th, between the 5th to the 11th there was increased hashrate from miners trying to mine the final week of 12.5btc that offset the really slow block times after the halving. Therefore it will be the next difficulty adjustment after the one on the 20th that will completely reflect the slower block times after the halving. Currently the median block time taken on the 17th was around 14min (-28.5% difficulty adjustment). For people who do not understand blockchain, basically with the Bitcoin 3rd halving, mining profitability fell for a lot of miners and they probably turned off their miners therefore the blockchain mining time became considerably slower which is reflected with slow transaction speed and higher fees as seen currently. Bitcoin sellers moving their BTC from wallet to an exchange are faced with slow transaction speed and therefore the sell pressure of BTC fell considerably which will attribute to the current price increase. There is a correlation between sell pressure and blockchain congestion (the size of the correlation is undetermined). There is going to be a race. A race between BTC price hiking high enough to attract more miners to reduce avg block times versus the closing window of roughly 2 weeks before the next difficulty adjustment. If the price does not jump high enough, the next difficulty adjustment in the first week of June could signal a huge dip. I am not an expert. I just did some research on the above and wanted to share with fellow Bitcoin compatriots so that we can tread with caution and not lose our shirts. I do not plan to short BTC but I will exit my BTC positions if I expect double digit negative difficulty adjustment in early June. Please visit the original post here https://www.reddit.com/Bitcoin/comments/gm23pe/warning_blockchain_difficulty_adjustment/ There are pictures in the original post as well as 2nd halving evidence with pics. I could not post pics here. If possible please upvote the original post, a lot of people downvote it. Not sure why people downvote it, maybe veterans attempting to hide information from newcomers to fleece them of their shirt. Update 1:>! As of writing, I have opened a small short position on Bitcoin. Stop loss around 10k, estimated take profit around 8500. The reason is because the difficulty adjustment in the next 20 hours, even though is just -5% roughly is still significant. I direct you to look into all the difficulty adjustments in the last 2 years and you will know how rare it is. The ones I caught were all listed at the very top of the post. Since it is my first time shorting BTC, I take this as a learning opportunity so that I will have some experience to face the bigger difficulty adjustment in the first week of June. Analysis into execution, even in failure I am happy.!< Update 2: The difficulty adjustment (DA) happened roughly 6 hours ago and the sell pressure from -6% DA did not seem to be affecting the market much. However, please take a look now at the estimation for the next DA. On https://bitcoin.clarkmoody.com/dashboard/ it is estimated to be -25%. On https://fork.lol/pow/retarget estimated to be -18%. On https://www.blockchain.com/charts/median-confirmation-time the median block time for the last day was 16.8min. My original proposition that the true DA of the halving can only be realized in the next DA stands and that it will be considerable. The increased sell pressure from that DA will be highly significant. That is why there is a race by current miners to get the BTC price up high enough to attract more miners to not have the DA drop too much. Update 3: Current BTC price at $9100 ( ~39 hours after DA). Then again BTC could have dropped from all sorts of reason. However the coincidence with the DA and with all the past DA is just too high to simply shrug off as irrelevant. Anyways past result cannot predict future ones, stay safe with the trading. Will no longer check on this post. References: Difficulty adjustment dates taken from https://btc.com/stats/diff Bitcoin graph history for price movement taken from coinmarketcap. Median confirmation time (block time) taken from https://www.blockchain.com/charts/median-confirmation-time Credits to people who assisted the analysis: kairepaire for pointing out faster block times between 5th-11th. babies_eater for https://fork.lol/pow/retarget moes_tavern_wifi for https://bitcoin.clarkmoody.com/dashboard/ Pantamis for https://diff.cryptothis.com/
From Conspiracy to Fact: An analysis of the COVID-19 Pandemic, Information Control, and the New World Order (Appendix includes hundreds of citations) - PART 1
UPDATE: This article is now available as a printable PDF with embedded hyperlinks for navigation through sources. This link will be valid thru July 9: https://ufile.io/4mpkg4x6
PLEASE NOTE: This article may be updated periodically with new information and links as they become available. All referenced information and a whole lot more is indexed and linked in the relatedappendix posts.Please feel free to crosspost, share, and take from my ideas to build your own. Namaste. Part 1 | Part 2 | Appendix A | Appendix B Hello. My name is Chris. I am nobody, really. An average citizen. I am an overweight 42 year old white male from the Midwestern suburbs of the US who has been fortunate enough to live a pretty comfortable life. I used to be a freelance graphic designer with a focus on small businesses, but I'm coming to terms with the fact that that career and part of my life is more than likely over in light of current events. Oh well, it was fun while it lasted. I've always been concerned about social injustice and tried to stay politically informed, even dabbling in some activism here and there. At times I've stepped away from paying attention for my own mental health, or due to laziness, defeatism, whatever. But I've never stopped caring, or trying, to fight the good fight and do the right thing. The news recently has of course swept us all up, and touched all our lives in some way or another. The world has never seen anything like the "Coronavirus Pandemic," and it's clear that our society will be changed forever when we finally come out the other end of this mess. But I've had the luxury of time recently, and in reading the news about things that were going on, I couldn't help but notice the patterns, and that a lot of stuff didn't exactly make sense. So, here we go, with the "conspiracy theory." I hate that term, because although it's technically accurate, it's been demonized and weaponized by the media and society at large to take on a bad connotation. Tinfoil hats, alien abductions, crazy people muttering to themselves, etc. You've no doubt got a lot of images in your mind of a conspiracy theorist. And make no mistake, what I'm going to tell you here is all currently very popular conspiracy theory. However, I think that by removing opinions and conjecture from it, and focusing on facts and things that have already happened, I can present this huge amount of overwhelming, disparate information in a way that makes it less a "theory" and more a "research project." And so that is how I have approached this. I have spent the last week doing little else besides reading every news and opinion article I could find, saving and organizing hundreds of links, and assembling a coherent, logical outline to organize and present these theories, and more importantly, facts. There are a lot of less-than-reputable sites and publications out there, and I have tried when at all possible to provide sources from verifiable news sites, with a wide range of slants and focuses, to illustrate that what is happening is not part of any one particular political agenda. I hope that you take the time to check the links, really look into the information presented here, and form your own opinions. Please do not just take my word for it. To that end, there are also a few links mixed in that are labeled as having come from conspiracy. These are well-written and well-reasoned posts from other concerned citizens that I think are worth reading, and relevant to the discussion here. One last thing - If you are new to most of these ideas, the information presented here is more than likely going to seem overwhelming at first. I encourage you now, and always, to take mental health breaks for yourself, and put down your phone or turn off your computer. The information will be here when you come back. And as you'll soon understand, what is happening is an unstoppable tide, truly a force of nature at this point, and there is nothing you can do to fight it, so try your hardest to relax, put on some chill music, hug your dog, and most of all... BREATHE. - - - - - - - - - - - - - - - - - - - - - If you start researching conspiracy theory, you're going to find a lot of information. Some much better or worse presented than others, and some much more plausible or unbelievable than others. Despite the seeming ridiculousness of some things you might read, I encourage you to always approach new information with an open mind. That said though, I have one main principle that guides all my beliefs about conspiracy theories, and that is the "Filter of Likelihood." Essentially, you have to ask yourself how possible, how likely, and how feasible a piece of information is. Furthermore, you need to ask yourself what the motivation would be. In many cases, it's quite easy to see how something makes a lot of sense based on other known info, whereas some theories seem rather implausible no matter how you look at it. I am interested only in the plausible, and where possible, the already actualized. Additionally, there's a lot to be said, and a lot that has already been written on many of these topics, so I will focus on current events and simple concepts. I will also ask you to open your mind to possibility. Please consider this as you evaluate new information:
Do you believe there are things going on in the world that you don't know about yet?
Do you believe that there is technology and science you've never heard of?
Do you believe that society is progressing at an increasing rate?
Do you believe that as populations grow, we require new societal strategies?
Do you believe that those with power and money want to retain their power and money?
Of course you believe all these things, and none of these are wild or unusual concepts. Rather, these are very basic concepts that apply to everyone, and always have. They are all part of our shared human experience, and undeniable facts of life. Populations grow, societies evolve, technology advances, and the world changes. And most important to our discussion here, people, families, and empires constantly jockey for power and control, while fighting for resources, power, fame, and... MONEY. We all hate TicketMaster, right? Who do they think they are, what the hell is this bullshit "service fee," etc. It's something everyone can get behind. But did you know that TicketMaster willingly cultivates that image? That venues, teams, and artists, in their pursuit of more money, raise fees and then let TicketMaster be the bad guy and take the heat so their reputations remain intact? There are many more people, organizations, and other entities in the world playing that same role for those who really have the money, who really call the shots. And those who call the shots work very hard and spend absolutely unfathomable amounts of money, time, and blood, to make sure that you don't ever realize who's actually taking your money. They do this in the simplest, easiest way. If you simply control information from the top down, and disseminate it when and where you see fit, you can effect great societal change without lifting a finger. Please imagine... really, try to imagine... You just read an article, saw a video, whatever, from a very, very reputable source. And it just informed you that an asteroid was 83% likely to impact the Earth next month. What would you do? What would happen in the world? Hopefully an asteroid will not hit next month, but it's important to really imagine what would happen and why, and how. Because a huge amount of information would be generated and published, people would panic, society would crumble, and the world as you know it would change forever in an instant, the moment you read that headline. Control of information is one of the most powerful tools known to mankind today. A person living in 2020 can easily encounter as much information in a day as someone in Medieval times might have encountered in a lifetime. And it comes at you from all angles, in all forms, non-stop, 24/7. Much like the water in the pipe, the information is always there, and one needs but turn it on. Disseminating the information then becomes a practice all its own, and to be sure, information processing accounts for more than half of the US GDP. And the rate at which it's spread, and way it is handled makes a huge difference in the societal repercussions. So a few different techniques are used:
The "Slow Walk" - If a large, unexpected piece of information is given suddenly, people tend to react poorly and irrationally. Also known as "letting them down easily," this technique restricts the flow of information to prevent the audience from balking or being overwhelmed
The "Steady Drip" - This technique involves keeping your audience subjected to a constant stream of the desired information, so that they become accustomed to it and it becomes "normalized"
The "Firehose" - A deluge of information flying out at full blast, designed to overwhelm the audience so that they cannot focus on anything else
It might be the greatest understatement of all time to say that there has been a lot of information passed around about COVID-19, the "Coronavirus," recently. In fact, there has never been anything like what we are currently experiencing in all of human history, and not by a long shot. And this unprecedented turn of events has caused a lot of people to react in a lot of ways, and say and do a lot of things, for better or for worse. Full disclosure: In particular, if you look up conspiracy theory, you'll see a lot of stuff suggesting that the "Coronavirus is a hoax." (You'll also find a lot of poorly-written rambling) I want to be clear that I DO NOT believe that. I am 100% sure that there is a Coronavirus, that it is making people sick, that a lot of people are dying, and that our medical professionals and many other undervalued workers are overwhelmed, and breaking their backs every day to do their best to keep their friends, families, and loved ones safe. I am extraordinarily grateful for them and admire the resolve and bravery that so many have shown in the face of this disaster. I do not think it is a hoax at all. However, I think that literally everything else that is happening surrounding the "pandemic" is. - - - - - - - - - - - - - - - - - - - - - The Pandemic In the first week of January this year, I got sick. Really sick. I know when I got it and who I got it from, and honestly the exact moment I got it (I only was in proximity of the dude for a few minutes). He had warned me that he was really sick, and I blew it off. I started feeling sick a day or two later, and a day or two after that I felt like I was dying. Fever, chills, aches, extraordinary fatigue. And literal, nonstop, 24/7 coughing. I had every single symptom of what we now know as COVID-19. I commented to anyone who would listen that I didn't recall ever feeling that sick before in my entire life. The most memorable part of it though was that after a couple days, I completely lost my sense of smell and taste. Joked a lot about how you could feed me onions and soap cause I'd have no idea. I try to have a good attitude about being sick. I spent a week sleeping on the couch before I finally went to the doctor. She gave me a Prednisolone steroid pack (which has worked well for me in the past), some Trazodone to knock me out, and Benzonatotate for my cough. As soon as I took the first dose of steroids I started to feel pretty fucking great, and it was more or less a non-issue after that. I spoke to a lot of people about it then and after, and man, I can't tell you how many stories I personally heard from people I know that said the exact same thing. Then I started reading the same story over and over again on Reddit:
We didn't start really hearing about the Coronavirus in the media until the beginning of March, and we didn't hear about the "Pandemic" until just a couple weeks ago. And what a couple weeks it's been since then. But I am quite certain that it's been around for a lot longer and that I, and a lot of other people I know, had it - and DID NOT DIE FROM IT - way back in January. We now know that the first documented case in the US was on January 19th, but that word "documented" is so, so important here. That means that we had identified the virus, developed a test, and tested a person with the symptoms that day. It does NOT mean that was when the virus reached the United States. How sick do you have to be before you take a day off work? Before you go to the doctor? With America's healthcare system or lack thereof, it's almost certain that many people had this virus before we determined what it was, and how infectious it really was. There is also the matter of the statistics of severity vs the regular flu. This is a highly contentious topic and I am no medical expert, and do not wish to make any assertions. However, what I can tell you from my personal experience is this: I had a horrible "flu" in January, got basic medicine, got better. So, either I had the flu, or perhaps I did indeed have the Coronavirus. We will never know because I was never tested. But the important thing is that it doesn't matter. Either I (and many others) had the Coronavirus and it did not kill us (calling into question the severity of the infection) or we just had a bad cold or flu, but it had the exact same symptoms as COVID-19 (calling into question the extent of Coronavirus diagnoses). But logically, one of those two statements is true. Furthermore, the data keeps changing, and I don't mean increasing on a daily basis. I mean up and down, back and forth, it is deadly or maybe it isn't, etc. On January 14 the WHO told you it couldn't spread from human to human. But then on Jan 19 we saw the first case of Coronavirus in the United States. Then it turns out that the Wuhan market outbreak began earlier in December. And then it's an "epidemic," but most people will only get mild symptoms. What are you supposed to believe? And it sure does seem to come at you as a firehose, and it's hard to even think about anything because OHMYGODTHECORONAVIRUS! But let's stop and look a couple basic facts. As a matter of fact, I'm going to let Dr. Sucharit Bhakdi explain this one to you. This is a very informative 10 minute video, watch it: Sucharit Bhakdi - Very clear math showing that the COVID statistics are being manipulated So 80% of people only experience mild symptoms, and we're crashing the economy for this? The statistics aren't any more extreme than many other illnesses we've had over time, and we're crashing the economy for this? It doesn't make sense until you consider that there are other factors besides just the virus at play. Wolfgang Wodard - Explaining how the statistics are being manipulated to cause panic The media, and society at large is inundating you with terrifying information about the Coronavirus. But if it's not as bad as we originally thought, then why? We don't freak out about every illness that comes along, and we've certainly never in the history of civilization had over 1/3 of the global population locked down under mandatory quarantine. And then there's the debate about where the virus came from. We believe it came from a meat market in China, under unsanitary conditions. The science behind a coronavirus making the leap from one species to another is well-established and researched, and it is a very likely scenario. There are also conspiracy theories that state that China released it on its people intentionally, or even that the US military released it in China. Again, we will never know exactly where this Coronavirus came from. It may be natural, it may be man made, and there are very plausible paths for both. I don't know what to believe myself. So here I ask you to make your own judgement based on likelihood. What we do know though is that the state of the world this virus has been unleashed on has played a major factor in its spread. In 1950 the global population was 2.5 billion, and that has exploded to almost 8 billion people in 2020. As a matter of fact, population growth has been exponential since about the time of the Industrial Revolution. With all these people on the planet there are sure to be many disagreements and conflicts, and there indeed have been. As a matter of fact, 2019 saw global protests on an unprecedented scale, in Hong Kong, France, Syria, and many other countries. Citizens have literally been fighting police and military with rocks, clubs, arrows, and molotov cocktails. Did you know that? Despite my seeing headlines and pictures every day of the riots in Hong Kong, I have been shocked to learn that multiple of my close friends, intelligent and aware people, had no knowledge whatsoever of the protests even existing. But that is far from a coincidence; rather, it is quite by design. - - - - - - - - - - - - - - - - - - - - - Billionaires and Coincidences Another major talking point over the last 5 to 10 years has been the "1%" - the handful of super-rich individuals who posess and control the vast majority of the Earth's wealth and resources. Where it used to just be a numerical term, "Billionaire" is now a dirty word, and one of the nastiest. We all hate billionaires. They are evil, and profit off the exploitation of the rest of the world. The "Illuminati" we call them, in pursuit of a "New World Order." Crazy stuff, right? Mysterious symbols and people in black robes doing nefarious things in secret meetings, and running the world from behind the scenes. We love the Illuminati, it's a huge pop culture thing now. The subject of endless speculation, they are made fun of in the media, movies, and now Taco Bell commercials. It's so far fetched it could never really be true. And the fact that you think that is by design as well. So, we don't know where the Coronavirus came from, but it's certainly here, and there are lot of other things unfolding in the world around it. Many different current events from all different places and fields of study. Some of it seems a little too coincidental. It is certainly very coincidental that this economically destructive Coronavirus entered the world right as there were global uprisings, protests in the street, and a growing public hatred for billionaires. Well, here are a few other coincidences: Hundreds of CEOs of major companies stepped down from their positions in recent months. Multiple US Senators sold stock right before the market crashed. Even the boss of the New York Stock Exchange sold his own stock right before the crash. Did they know something they weren't telling us? Here's another coincidence. In 2010, The Rockefeller Foundation published a selection of future-predicting scenarios in the name of "exploring the ways that technology and development could co-evolve." One of these four scenarios, entitled "Lock Step," eerily predicts a global viral pandemic and the resulting hypothetical consequences, which almost exactly mirrors the COVID-19 pandemic we are in the midst of today. Also coincidental: The first case of COVID-19 was diagnosed in China on November 17th, 2019. Literally one month earlier, The Johns Hopkins Center for Health Security in partnership with the World Economic Forum and the Bill and Melinda Gates Foundation hosted Event 201, a high-level pandemic exercise on October 18, 2019, in New York, NY. In this exercise, they discuss the potential implications and consequences of a novel Coronavirus, including an economic crash, martial law, and of particular interest, the control of information. (You can view some published highlights here) The World Economic Forum is comprised of the richest of the rich. The 1%. The Billionaires. CEO's, politicians, business owners, and many other powerful and influential figures. They meet regularly to discuss topics of global concern, and strongly control the dissemination of information. And of primary concern to many of them is maintaining their wealth and power in a rapidly-changing world. And finally, here's one more coincidence: At the exact same time as the Event 201 exercise, The World Military Games was held in Wuhan, China, Oct 18-27, 2019. It was the largest military sports event ever to be held in China, with nearly 10,000 athletes from over 100 countries competing in 27 sports. Wuhan China was, as we now believe, the source of our current global COVID-19 outbreak. Whether you think it is a "conspiracy" or not, that is all certainly coincidental, to say the least. - - - - - - - - - - - - - - - - - - - - - "Why didn't I hear about any of this?" That's an excellent question, and one that likely has multiple answers. For starters, how much do you really pay attention? Where do you get your news from? Do you research things you hear or just accept them on hearsay? Critical thinking skills are paramount in making sense of the chaos unfolding all around us. As I mentioned before, I can tell you that I personally know multiple people who had no clue whatsoever about the riots in Hong Kong last year. As you read this, you may be one of them. And it may seem like something that is happening far away, and "could never happen here." Or you may have been aware of it but just that it was happening. But please, consider for a moment: millions of average citizens risked their lives and safety in the streets of Hong Kong for months on end, fighting police and military, and transforming the city they lived in into a warzone. WHY? Why would people do something like that? Regardless of their motivations, that many people were banding together to fight for something they believed in. And that is worth considering. It's not really your fault though that you may not catch wind of all this news. The "mainstream media" that you hear about all the time deliberately controls information - downplaying threats and overreacting to silly things - in order to make sure that you hear the version of the news that they want you to hear. Did you know that only 6 corporations control 90% of the media In America? That number is reduced from 50 companies in the 80's. And literally all the news you see on TV, at the very least, is 100% owned and controlled by these companies. Lately, distrust is growing for cable news networks, and many people turn to their local hometown station for trusted news. The problem with that though is that your hometown station is probably owned by Sinclair Media, one of the most powerful broadcast networks in the country that you've never heard of. Please watch this very brief video, illustrating the chokehold that Sinclair Media maintains over your nightly local news broadcast: https://www.youtube.com/watch?v=hWLjYJ4BzvI Of course, not every piece of news is pre-programmed but a lot is. The real news is out there, but sometimes you have to look a little deeper than the infographics on TV news. Even if information is being directed from the top down, the boots on the ground tend to be passionate people with a variety of interests and agendas, and they are still doing their best to do real journalism despite corporate oversight. Think of those who are directing the information as steering an impossibly massive ship with a rudder. You can slowly adjust the course of direction, however it is slow to react. If you want to stop, you have to start thinking about stopping wayyy ahead of time. And similarly, once it gets underway, it is then influenced by an inertia all its own. Micro controls and adjustments aren't really possible. Our society is this giant ship. There are 8 billion people on this earth - that is 8000 million. An incomprehensible number that grows rapidly every day. As civilization grows and advances, so does our medicine, our technology, our cultural norms. These are all natural processes that are necessary to manage an increasing number of societies all around the globe. And many of the advances we're making have exciting potential benefits for humanity, although as with all tools, they also inherently possess the potential for abuse. Here are some other things happening in society right now, some you may be aware of and many you may not:
RealID - The Real ID law requires people to show security-enhanced IDs to pass through airport security checkpoints or to enter certain federal facilities.
Traffic Cameras - Most people know that there are traffic cameras in an increasing number of areas, some of which can assess your speed and issue you a ticket automatically.
Automation Everywhere - Beyond assembly lines, robots are continually performing more types of tasks from ever more companies, replacing human employees at an increasing rate.
Automated Trucks - Autonomous trucks are coming soon that can see forward over a half mile, farther than any other autonomous system in the world, and run during the day, the night and even in the rain.
Global Satellite Internet - Elon Musk's SpaceX recently launched its fourth batch of internet-beaming satellites, as the company builds a broadband internet business by deploying thousands of satellites into orbit
Bitcoin and Cryptocurrency - As digital payments become more and more prevalent, digital currency uses cryptography to secure and verify transactions as well as to control the creation of new units of a particular cryptocurrency.
Voluntary Nanochipping - People are having microchips implanted into their bodies so that they don't need to carry key cards, IDs, and even train tickets.
Programmable Viruses - As antibiotic-resistant bacteria becomes a greater problem, viruses are being engineered to fight the bacteria in targeted ways
Facial Recognition Technology - Airports are using facial-recognition cameras to confirm passenger identity. Mobile phone makers are using face recognition for biometric security. Retailers are using it to prevent violence and crime, and for advertising.
Thermal Scanners - Airports, casinos, and grocery stores are screening passengers for sickness. In China, this data is being used to control traffic.
ID2020 - Microsoft co-founder Bill Gates is developing human-implantable capsules that have ‘digital certificates’ which can contain financial data, medical records, tracking tech, and more.
There is an interesting chicken or egg relationship between science fiction and real world science. Sci-fi writers are inspired by the real science of the day, then they apply their creativity to imagine what might be in the future. Young scientists encounter these fantastical ideas and think they are worth pursuing, and then set about to make them a reality, and the cycle continues. Futuristic concepts are then preempted and introduced through the media to the conscious mind, as we include them in books, movies, TV, video games, and more. Eventually we start seeing headlines of these new technologies and developments happening in other places, usually Japan and China first due to their prevalence in the industrial and technological sectors of our global economy. - - - - - - - - - - - - - - - - - - - - -
New info on Billionaire Wife Anne-Elisabeth Hagen’s possible kidnapping/murder.
I posted about this case in October and since then there’s been a few somewhat interesting updates in the case and I wanted to let you guys know about them. I recommend reading the initial post if you haven’t yet, to familiarize yourself with the case. There’s also some additional info at the end of that first post that I added later, answering some questions people had and clearing up some confusing information. If you read the post before the update, it might be a good idea to go back and read the new bit at the end. Some quick info on the case:Anne-Elisabeth Hagen is the missing wife of Norwegian billionaire Tom Hagen, an investor and co-founder of the company Elkraft. She’s been missing since October 31st 2018. There was a ransom note left at the crime scene, demanding 9 million Euros in crypto currency Monero. There’s been no sign of Anne-Elisabeth since, and she is now presumed to be dead. Here is all the new info we have:
The family has been considering offering up a reward in exchange for information that can lead to solving the case, but so far no decision has been made on this matter.
The family tried contacting the alleged kidnappers again in October, around the 1 year anniversary of Anne-Elisabeth’s disappearance. As of today, February 9th 2020, they have not yet received any answer.
In November 2019 it was reported that the police have DNA on file, found at the house. They have not been able to match it to anyone yet. It is unclear whether or not this is a full or partial profile.
In December 2019, it was revealed that a surveillance camera have caught “a mysterious car” in the area surrounding Tom and Anne-Elisabeth’s home. This car was not more than 100 meters away from their home. The car being there coincides with when Anne-Elisabeth must have been taken from her home.
On 8th of January 2020, the police announced that they are officially searching for Anne-Elisabeth’s body. In July 2019 the police changed their main hypothesis to murder and they still stand by this. As of January 2020, KRIPOS (The National Criminal Investigation Service) have officially changed Anne-Elisabeth’s status to murdered, as part of the yearly murder statistics.
The search for her body has been made on farm land, in abandoned buildings and apartments, as well as forest areas in both Norway and Sweden. These searches are based on tips from the public and information they have from the investigation.
It has been revealed that Tom Hagen has, with help from an acquaintance/business partner, sent the police at least 8 e-mails throughout the investigation with information he believes could lead to a break in the case. He has also provided a list of potential perpetrators. The police says they consider any information they get and take it seriously whether it’s from Tom or any other family member. Tom has also said there’s a key missing from the garage where they used to have a spare. It is possible the perpetrator used this key to enter the house, as there was no sign of forced entry at the crime scene.
Not much is known about the specific content of the ransom note, other than it not being handwritten, and then there’s this line: “We will upload a video of her last moments”. Investigators think this line, using the plural “we”, might indicate more than one perpetrator. They believe it’s possible that at least one person was at the house, and one or more people controlled the crypto currency planning and set up. They are currently investigating who in Norway could have the knowledge to do this, as the set up is apparently quite complicated.
Now, on to possibly the most interesting new information we have. It’s been long known that the ransom note contained instructions for Tom Hagen. Some of these instructions included how to obtain Monero and how to pay it to the other party. Tom Hagen was tasked to only purchase 1 million Euros in Monero at a time in order to avoid a disturbance in the market.
The letter also provided a set of codes with which to communicate, and these have been kept under wraps until now. This communication was through Bitcoin.The X stands for an (unknown to us) amount of bitcoin that is code for a sentence, meant to be used only by Tom Hagen and the alleged kidnappers.
These are the codes Tom Hagen were given to use: X Bitcoin = I confirm I want to pay. X Bitcoin = I have sent money for exchange and am waiting to obtain Monero. X Bitcoin = I will send Monero in 7 days. X Bitcoin = I have a problem, need more time. X Bitcoin = I have sent some Monero. Waiting for more. X Bitcoin = I have sent all Monero, €9 Million The other party then had a list of codes of their own that they could use to communicate back with Tom Hagen: X Bitcoin = Time is running out, quick or she’ll die. X Bitcoin = It’s been too long, she’s dead. X Bitcoin = Police are looking around. Not worth it for us. She’s dead. X Bitcoin = Have not received Monero. Send to the correct address. X Bitcoin = Have not received all Monero. X Bitcoin = Have received all Monero. Anne-Elisabeth will be let go in 24 hours. The police followed the instructions in the ransom note at first. Their goal was to make it seem like law enforcement were not involved. The family made the actual decisions regarding the negotiation. The police believe that it is quite likely that the letter is fake, to steer the investigation in the wrong direction. If their main hypothesis is correct and Anne-Elisabeth was in fact murdered, not kidnapped, it would make sense to try and cover it up by making it look like something it’s not. The police have talked about this inconvenient form of communication since the case became public and urged the alleged kidnappers to find some other way to talk. The family eventually received encrypted e-mails from the dark web. The family lawyer thinks these e-mails are from the same people and therefore credible. Some people believe they are from a third party who saw an opportunity to get money (and if so, they eventually did: Tom Hagen paid a portion of the money in July 2019 after getting another e-mail). It is after this second e-mail in July that all communication has stopped. Police thinks this lack of communication is atypical and odd behaviour on the kidnapper’s part. And that’s it. I’ll admit, I’ve been hoping for a major break in this case since I last posted but it seems like that won’t be happening anytime soon. Anne-Elisabeth is still missing and there are no publicly known persons of interest. Today is Mother’s Day in Norway. By all reports, Anne-Elisabeth was a beloved mother and grandmother. My thoughts go out to her children today. Let’s hope they’ll have answers soon. Source 1Source 2Source 3 (In Norwegian)
Fifty Years of Cypherpunk: History, Personalities, And Spread of its ideas
In this review, we tell how the ideas of cypherpunk were born, how they influenced cryptocurrencies, and modern technologies, who formed the basis and why its popularity these days has grown again.
From the early days to today: the chronology of key events of the cypherpunk
In the early 1970s,James Ellis of the UK Government Communications Center put forward the concept of public-key cryptography. In the early 1980s, small groups of hackers, mathematicians and cryptographers began working on the realization of this idea. One of them was an American cryptographer, Ph.D. David Chaum, who is sometimes called the godfather of cypherpunk. This new culture has proclaimed computer technology as a means of destroying state power and centralized management systems.Key figure among the cypherpunk of the 80s — Intel specialist Timothy C. May. His dream was to create a global system that allows anonymous exchange of information. He created the concept of the BlackNet system. In September 1988, May wrote The Crypto-Anarchist Manifesto: people themselves, without politicians, manage their lives, use cryptography, use digital currencies, and other decentralized tools.In 1989,David Chaum founded DigiCash an eCash digital money system with its CyberBucks and with the blind digital signature technology.Since 1992, Timothy May, John Gilmore (Electronic Frontier Foundation), and Eric Hughes (University of California) have begun holding secret meetings and regular PGP-encrypted mailing through anonymous remailer servers. And finally, in 1993 Eric Hughes published a fundamental document of the movement — А Cypherpunk's Manifesto. The importance of confidentiality, anonymous transactions, cryptographic protection — all these ideas were subsequently implemented in cryptocurrencies.The term "cypherpunk" was first used by hacker and programmer Jude Milhon to a group of crypto-anarchists.In 1995,Julian Assange, the creator of WikiLeaks, published his first post in cypherpunk mailing.In 1996,John Young and Deborah Natsios created the Cryptome, which published data related to security, privacy, freedom, cryptography. It is here that subsequently will be published data from the famous Edward Snowden.In 1997, cryptographerDr. Adam Back (you know him as CEO of Blockstream) created Hashcash, a distributed anti-spam mechanism.In 1998, computer engineer Wei Dai published two concepts for creating a b-money digital payment system:
Each member of the system has a copy of the system database with user funds balances (this idea found itself in Bitcoin).
Distributed base, but not everyone has a copy. To maintain the integrity of participants, deposits, fines, and incentives are provided. This was later implemented in the Proof-of-Stake consensus algorithm.
In April 2001,Bram Cohen developed the BitTorrent protocol and application.In 2002,Paul Syverson, Roger Dingledine and Nick Mathewson presented the alpha version of the anonymity network named TOR Project.In 2004, cypherpunk Hal Finney created the Reusable Proof of Work (RPoW) algorithm. It was based on Adam Back's Hashcash but its drawback was centralization.In 2005, cryptographer Nick Szabo, who developed the concept of smart contracts in the 1990s, announced the creation of Bit Gold — a digital collectible and investment item.In October 2008, legendary Satoshi Nakamoto created themanifesto“Bitcoin: A Peer-to-Peer Electronic Cash System”, which refers to the works of the cypherpunk classics Adam Back and Wei Dai.In 2011,Ross William Ulbricht aka Dread Pirate Roberts created the Silk Road, the first major market for illegal goods and services on the darknet.In 2016,Julian Assange released the book "Cypherpunks: Freedom and the future of the Internet."At the beginning of 2018,Pavel Durov, the creator of Telegram, announced the launch of the TON multi-blockchain platform and mentioned his plans to launch TON ICO.In 2019, the Tor Project introduced an open anti-censorship group.
Plenty of services, products, and technologies were inspired by cypherpunk: Cryptocurrencies, HD (Hierarchical Deterministic) crypto wallets, Coin Mixers, ECDHM addresses, Privacy Coins. The ideas of distribution and anonymity were also implemented in the torrents and VPN. You can see the embodiment of cybersecurity ideas in the electronic signatures and protected messengers (Telegram, Signal, and many others).Why there were so many talks about cypherpunk this spring?In April 2020, Reddit users suggested that the letter from the famous cypherpunks mailing dated September 19, 1999, was written by Satoshi Nakamoto himself (or someone close to him). This letter is about the functioning of ecash. Anonymous (supposed Satoshi) talks about the "public double-spending database" and Wei Dai's b-money as a possible foundation for ecash.In addition, researchers of the mystery "Who is Satoshi Nakamoto?" periodically make some noise and discover the next "secret" about one or another legendary cypherpunks. So, in May 2020, Adam Back wrote in response to videos and new hype discussions that, despite some coincidences, he is not Satoshi.Other heroes of the scene are not idle too: in April 2020, David Chaum received $9.7 million during the presale of the confidential coin xx, created to encourage venture investors.
As you can see from the Satoshi Nakamoto's mentions and from the stories of DigiCash, Hashcash, RPoW, Bit Gold, the movement of cypherpunk influenced a lot the emergence of cryptocurrencies. As governments and corporations restrict freedom and interfere with confidentiality, cypherpunk ideas will periodically rise in popularity. And this confrontation will not end in the coming decades.
The coronavirus will accelerate the trend towards a cashless society (opinion article)
Source Article text: The world after the coronavirus will probably be far more digitised, and payment systems appear as likely to be impacted by this as any other aspect of daily life. The use of cash has been falling around the world. In Australia, less than 30 per cent of payments are in cash these days, whereas a decade and a half ago more than 70 per cent of transactions were in cash. In Sweden, the use of cash for payments is so low – about 10 per cent of payments -- it is a near-cashless society. The pandemic and the fear of infection from bank notes are accelerating the trend away from cash towards digital payments. The Bank for International Settlements, in a paper released late last week, said the outbreak had led to unprecedented public concerns about viral transmission via cash, with central banks reporting a large increase in media inquiries about the safety of using cash and internet searches for the combination of "cash" and "virus" soaring. The intensity of recent searches for those two words, according to graphics in the BIS paper, is most acute in Australia and France. Around the world, countries are sterilising their bank notes even though there are, as yet, no known cases of transmission via cash. The virus appears, however, to survive longer on non-porous materials like plastic and steel, which probably explains consumers’ anxiety. Historically, in times of crisis, consumers hoarded cash. This time, however, appears to be different and the pandemic could accelerate the trend away from cash and towards digital transactions. It is already generating increased interest in digital currencies, with China said to be close to releasing a digital version of its currency. In recent years most central banks have started researching the potential for digital currencies, with their efforts intensifying after Facebook attempted to launch its own global digital currency, Libra. The Libra rollout stalled after some of its core backers pulled out in the face of strong central bank and legislators’ opposition to the notion of a privately-owned digital currency, and it appears Facebook might try to alter its strategy towards the use of Libra’s infrastructure as a platform for third parties’ digital payment ambitions. Facebook was pursuing a "stable coin" strategy, with Libra’s value established by a basket of physical currencies whose value would match that of the value of the stable coins in circulation. That is quite different – and was far more of a threat to central banks and their influence over their financial systems -- than a conventional cryptocurrency like Bitcoin, whose value is very unstable and therefore makes it a poor medium of exchange. Libra’s launch galvanised the central banks’ interest in their own digital currencies, as well as their efforts in thwarting Facebook’s ambitions. Central banks including the Reserve Bank have been researching and trialling elements of digital currency platforms. The RBA has run simulations of a wholesale system, for instance, for interbank settlements. Most of the central banks are wary about rushing towards a digital currency future because of the potential disruptions it might cause to their existing banking systems if people were given a choice of holding digital currency issued directly by a central bank rather depositing funds with privately-owned commercial banks. In financial markets like Australia’s or Canada’s, where the banking systems operated soundly through the global financial crisis, have sophisticated digital payment systems and now, after significant strengthening of their capital bases and liquidity, are supporting their economies through the pandemic, there’s no urgency to fundamentally change the structure of – to disintermediate -- their financial systems. There’s also the risk of a generational divide if central banks move too quickly on the digital front, given that the profile of those most reliant on cash transactions tilts heavily towards older people. Nevertheless, the seemingly inexorable trend towards digitisation of payment systems, combined with the likelihood that other countries like Sweden and China will move early and the potential for the big tech companies like Facebook, Google or Amazon to create their own currencies and payment systems outside traditional banking systems, means the central banks have no option but to continue to explore the potential of digital currencies. That exploration will have a sharper edge if China digitises its currency. Only this week, China recommitted itself to the introduction of a digital yuan. It sees a digitised currency as a way of increasing its global influence and reducing the dominance of the US dollar in global commerce and finance, a dominance that enables the US to exert geopolitical influence through the global financial system. China has some unlikely allies, with no little thanks to Donald Trump’s diminishing of America’s role in key international institutions, his "America First" agenda and his willingness to use tariffs and sanctions against America’s foes. The Bank of England governor, Mark Carney, shocked many last year when he advocated development of a "multi-polar" digital currency to displace the US dollar as the world’s reserve currency, arguing that there was growing asymmetry between the dominance of the dollar in the global financial system and the diminished US share of global economic activity. The US accounts for only about 10 per cent of world trade and 15 per cent of global GDP but two thirds of all countries peg their currency to the US dollar, and more than half of global trade is invoiced in US dollars. Global financial market activity is dominated by the greenback. As the US withdraws from global economic leadership, a "synthetic hegemonic currency" would dampen the domineering influence of the US dollar on global trade and the impact of domestic developments in the US economy and markets wouldn’t spill over to the same degree into other economies and markets, Carney said. He didn’t say – but China would be aware – that a reduced role for the US dollar would also have a negative impact on the US economy and living standards. Its status as the world’s reserve economy allows Americans to live well beyond their means, lowering the cost of imports and Americans’ cost of borrowing. Thus there are geopolitical dimensions to the push towards digital currencies that coincide with the sharper edge that the pandemic has given central banks' interest in facilitating digital payments and investigating digital currencies.
Hedge Funds, Retail Investors Bought the Dip — Kraken CEO Jesse Powell
According to Kraken crypto exchange CEO Jesse Powell, there has been a massive influx of new accounts from all types of investors. The trend coincides with Bitcoin’s (BTC) strong recovery from $3,600 to over $9,000. Powell’s statement aligns with similar observations made by Coinbase earlier this year when the exchange also saw a surge in […]
▶ Buterin: the growth of the bitcoin price is not related to halving The co-founder of Ethereum Vitalik Buterin stated that the theory that the growth of the BTC exchange rate was related to halving did not work. The developer attached a chart of the S2F model according to which bitcoin periodically increased its cost together with halving the reward for mining a block. "The last $20k peak was near the halfway point between the 2016 and 2020 halvings", he pointed out. In the comments Buterin was told that the model predicted the quantitative growth of the bitcoin price, but it did not presume that the maximum will coincide exactly with the event of halving. The developer agreed that the absence of the direct correlation between halving and the growth of the bitcoin price did not disprove the theory, but said that he still did not agree with it. ▶ The price of Ethereum can rise up to $7,500 If the BTC exchange rate increases up to $50,000, Chris Burniske, a partner in the Placeholder venture capital firm, thinks. "If $BTC goes > $50,000 in the next cycle, and $ETHBTC returns to its former ATH, then expect to see $ETH > $7,500", he wrote in his Twitter account. According to him, the price of bitcoin will rise up to $50,000, even if the volatility of the new rally will be twice as less as the previous indices. In this case, the capitalization of the first cryptocurrency will rise above $1 trillion. It will allow bitcoin to strengthen its "macro equity" status, while ETH will be able to become a mainstream instrument, the expert thinks. ▶ The price of bitcoin will go down following the stock market Analyst Satoshi Flipper thinks. If the US shares continue the correction, the BTC price will fall to $7,300 before the middle of July, he writes. Satoshi Flipper points out that, by going below $9,400, the exchange rate has broken through the trend line that has been acting as a support one since May. The S&P 500 index fell down 2.79% this morning — the crypto market followed it as well, the trader points out. He adds that he has been holding the short position regarding bitcoin since the weekend.
Did Bitcoin Revert To Follow Major Indices Amid Crisis Rumors? The crypto sector experienced another price slump, as Bitcoin fell below its $9,000 support zone, dragging the entire sector down. Bitcoin’s price wobbled between bullish and bearish stance for almost a week, but the latest bearish push managed to break Bitcoin’s resistance to trade as low as $8,920 on some crypto exchanges. Тhe six-percent drop also impacted the performance of the altcoin sector, as the crypto sector closely correlates with Bitcoin’s price movements. Ethereum, for example, is down five percent to trade at $223.72. Ripple’s price went down with three percent, while the rest of the sector recorded an average of 6% price decline over the past 24 hours. As a result of Bitcoin’s price slump, one of the largest crypto exchanges to date, BitMEX recorded around $20 million worth of Bitcoin being liquidated. The amount adds up to the $10 million worth of BitMEX long positions closed in the 24 hours prior to the price drop, adding to Bitcoin’s price instability. Source: Skew.com However, crypto data aggregator CryptoQuant reported a vast amount of Bitcoin being moved to exchange-owned crypto wallets. Тhe Bitcoin movements indicate smaller Bitcoin holders are franticly selling Bitcoin to prevent losses from a further price drop. Meanwhile, the price drop coincided with the red start of trading for the S&P 500 index. The index fell three percent, meaning that currently S&P 500 is slightly outperforming Bitcoin in terms of trading. However, crypto experts predicted such price slump as ByteTree’s co-founder Charlie Morris tweeted that indicators, such as network velocity, transaction values and sizes, and network fees are all down from the past weeks. “Why there is a lack of interest? I can’t see Bitcoin’s price holding up, as it’s fair value is around $7,000” Morris wrote on Twitter. Source: TradingView Тhe indices drop also coincided with yet another event – Bitcoin’s transaction fees fell under $1, just like they were prior to the halving of May 11. The total drop is 91%, meaning that Bitcoin’s transaction fees crashed from a high of $6,65 in mid-May to just $0,56 per transaction several days later. The phenomenon was evident during the second Bitcoin halving, too, as in the second halving Bitcoin saw a 200% transaction fee increase, as opposed to the 1600% peak in the May 2020 halving event. Interestingly, after the transaction fee drop, Ethereum surpassed Bitcoin in terms of network fees. However, Ethereum’s network is overwhelmed with transactions, as currently, ETH’s network holds over 100,000 unconfirmed transactions, while Bitcoin’s network only holds under 1,000. As of press time, the Bitcoin's price has rebounded and returned to levels above 9k USD, as it currently sits at $9,123.74
Over the past 100 days, Grayscale has bought every third bitcoin
Over the past 100 days, Grayscale has bought every third bitcoin The Grayscale Investments cryptocurrency investment fund acquired every third bitcoin mined in the last 100 days. And in April, the fund bought 50% of all ETH mined. At the same time, despite the financial crisis and the fall of the cryptocurrency market in March, shares of Grayscale crypto funds in the first quarter of 2020 attracted record investments, which indicates a growing interest of institutional investors in the crypto industry. Why does the company need so many coins, what is its current position regarding the crypto market and what role does it play on it?
Aggressive Grayscale crypto purchases have recently been spotted with respect to ether. So, by April 24, the company had bought about 756 539 ETNs (accurate data are not publicly available) for its Ethereum Trust fund. This is about 48.4% of all 1.5 million coins mined since the beginning of this year. As a result, the company already owns 1% of all coins in circulation and only increases the pace of purchases. The first user to notice this was Reddit under the nickname u/nootropicat. According to the latest quarterly report by Grayscale, the flow of investments in ETN reached a record level for the first three months of 2020 — $110 million. This is a very sharp increase, given that total investments in ETN for the previous two years amounted to $95.8 million. The total demand for the Ethereum fund grew over the quarter is almost 2.5 times compared with the fourth quarter of 2019. From the beginning of the year until the end of April, the company issued 5.23 million shares of the fund at 0.09427052 ETN apiece. At the same time, shares are traded with a premium of 420% relative to the current price of the coin — $92 against $17.70. That is, investors are willing to pay extra pretty much not to deal with cryptocurrency on their own. Most likely, the increase in the rate of purchase of the coin is associated with the upcoming upgrade of the network to the state of Ethereum 2.0. It can take place at the end of July, but, most likely, it will happen not earlier than the end of the year. After the upgrade, the network will become more scalable and there will be the possibility of staking — validators will be able to receive passive income for providing their funds to confirm the blocks. The crypto market, by the way, is also preparing for the transition of the ecosystem to a new stage. ETH has grown 55% since the crash in March, from $110 to $202 on the day of publication. At the end of April, CoinDesk drew attention to the increase in the number of long positions in ETH futures — this indicates expectations for further growth of the coin.
Last quarter — the most successful in the history of the company
In May, Grayscale released a report on the results of the first quarter of this year. “Despite the decline in risky assets this quarter, Grayscale’s assets continue to approach record highs, as does our share of the digital asset market,” the document says. And this despite the coronavirus pandemic, the global recession and the traditional cryptocurrency market volatility. A record $503.7 million investment was raised in the first quarter. This is almost twice the previous quarterly maximum of $254 million in the third quarter of last year and accounts for 83% of the total capital of $1.07 billion raised for the entire 2019. New investors accounted for $160 million of raised funds. The main products of Grayscale Bitcoin Trust and Grayscale Ethereum Trust raised $388.9 million and $110 million, respectively. It is noteworthy that the company reduced the premium on stocks of funds relative to the price of assets. 88% of investments came from institutional investors, among which hedge funds prevail; 5% — from accredited individuals, 4% — from pension accounts (yes, pension funds are extremely conservative in nature, but also invest in bitcoin against the background of a decrease in the profitability of other assets); 3% came from family offices, and 38% of customers invested in several products at once. It is noteworthy that two years ago the share of institutional investors was about 50% — it is obvious that they no longer consider bitcoin as something criminal. “Many of our investors see digital assets as medium and long-term investment opportunities and the main component of their investment portfolios. Quarterly inflows doubled to $ 503.7 million, demonstrating that demand is reaching new peak levels even in conditions of “risk reduction”, the document says. Today, more than 46.5% of the inflow of funds was attracted from multi-strategic investors. Crypto investors accounted for only 11.2% of the inflow, according to the report. Grayscale currently operates ten cryptocurrency investment products targeted at institutional investors. They cover PTS, ETN, ETS, BCH, ZEC, XRP, LTC, ZEN, XLM. The value of the assets under his management is more than $3.8 billion. GBTC is the most demanded product, most investors invest in it and it takes about 1.7% of the total volume of circulating bitcoins. Aggregate quarterly flow of funds to different Grayscale products. Pay attention to the growing share of investors diversifying portfolios with products tied to altcoins. Since January of this year, the Grayscale Bitcoin Trust has been registered with the US Securities and Exchange Commission (SEC). According to it, the company provides quarterly and annual reports in the form of 10-K. The status makes it possible to sell shares of a trust in the secondary market after 6 months, rather than 12, as before, and also increases the confidence of conservative investors. Other products comply with OTCQX reporting standards in the OTC market and are approved by the US Financial Services Regulatory Authority (FINRA) for public offering. Amount of assets managed by Grayscale as of May 20, 2020. It is noteworthy that the news about the success of Grayscale comes amid news of how panicky investors in traditional assets are fleeing from market turmoil. So, the largest fund managers — BlackRock, Vanguard and State Street Global Advisors — lost several trillion in capitalization of their assets, and BlackRock in the first quarter for the first time in five years saw a net outflow of funds from its long-term investment products.
Bitcoin is the best asset for hedging portfolios in crisis
At the end of April, Grayscale also released a separate report on the analysis of the impact of regulators during a pandemic and the crisis caused by it and how it affected the bitcoin and cryptocurrency market as a whole. The document said fiat currencies are at risk of devaluation as central banks print more and more money. Even the US dollar, which is the world’s reserve currency, risks being devalued if the US Federal Reserve continues to print the currency in trillions. A decrease in interest rates to zero and negative values deprives government bonds of the status of “safe haven” during the crisis. Therefore, investors are trying to diversify their portfolios with alternative instruments. Cryptocurrencies are the best choice for this, according to the authors of the report. The text emphasizes the historical significance of gold as a global standard, but it is noted that in the modern digital world it is becoming increasingly burdensome for investors — it has complex logistics. Bitcoin seems resistant to the problems that other assets face. Therefore, in times of economic uncertainty, the first cryptocurrency is one of the best assets that investors can use to hedge their portfolios. The coin performs better than any other asset, including fiat currencies, government bonds, and traditional commodities like gold. The authors of the report emphasize that Bitcoin has already begun to show signs of becoming a protective asset. At the same time, the company believes that bitcoin is an excellent asset not only in times of crisis. So, in December 2019, Managing Director of Grayscale Investments Michael Sonnenshine said that the company expects an influx of investments in bitcoin after the transfer of $68 trillion of savings between generations in the next 25 years. Today, this capital is invested in traditional assets, but a significant part of these wealth millennials will invest in cryptocurrencies. Already, according to him, investments in GBTC are among the five most popular among young people, ahead of, for example, investments in Microsoft and Netflix.
The unprecedented financial measures taken by the US Federal Reserve, as well as the worsening recession, are forcing even the most conservative investors to rethink their current strategies and portfolio composition. Many of them are increasingly beginning to appreciate the fixed emission and non-correlation of Bitcoin — it is becoming a tool for risk diversification. Growing institutional interest is driving the acceleration of coin prices. Subscribe to our Telegram channel
Investors Turn Bullish as Bitcoin Exchange Reserves Drop to 1-Year Low
According to data from glassnode, Bitcoin reserves on cryptocurrency exchanges fell to a 12-month low. This coincides with a reported mass outflow of BTC from Coinbase. On June 6, various media outlets reported that Coinbase may sell its blockchain intelligence arm Coinbase Analytics to the Internal Revenue Service (IRS) and the Drug Enforcement Agency (DEA). Following the reports, there was a surge in BTC outflow from the exchange.
Investors withdraw Bitcoin as a precautionary measure
Like any other regulated exchange, Coinbase holds a trove of user data due to its compliance with strict know your customer (KYC) policies in the U.S. The reported surge in BTC outflow suggests investors are worried the deal may lead their user data to be in jeopardy. However, Coinbase reportedly said that Coinbase Analytics does not hold any user data from the exchange and merely operates using publicly available user data. Most blockchain analytics companies monitor addresses involved with fraudulent or criminal activities such as security breaches and hacking attacks to track the flow of illicit funds. On-chain data can be critical in preventing proceeds from illegal operations from being laundered on exchanges. Companies like Chainalysis and Cyphertrace use public blockchain data to actively observe the movement of suspicious transactions of cryptocurrencies like Bitcoin. The explanation provided by Coinbase did not stop BTC from leaving the exchange’s wallets and according to Whale Alert, several multi-million dollar transactions were documented moving from Coinbase wallets to unknown wallets.
Record low exchange reserves is a bullish signal
Since March 2020, the outflow of Bitcoin from cryptocurrency exchanges consistently increased and this shows investors are less likely to sell their holdings in the short-term. Researchers at Glassnode said:
“Balance on Exchanges just reached a 1-year low of 2,310,466.600 BTC. Previous 1-year low of 2,313,098.855 BTC was observed on 03 June 2020.”
Some analysts believe that the rise in withdrawals from cryptocurrency exchanges is a highly optimistic metric for the medium to long-term price trend of BTC. Typically, exchange reserves drop when Bitcoin enters an accumulation phase. For example, in early 2019 BTC price was hovering around $4,000. As it started to gradually climb upwards to reach $14,000 the balance of Bitcoin on exchanges dropped substantially. Eventually buying demand is expected to overtake selling pressure due to investors continuing to move their funds off exchange and the daily sell-off from Bitcoin miners being absorbed. If the balance of Bitcoin on exchange does not increase in the near future, it will raise the probability of BTC entering a proper accumulation phase that may set it up for a multi-year bull market. A confluence of declining Bitcoin reserves of Bitcoin, dropping sales of BTC by miners, and growing institutional adoption may catalyze the next uptrend of the cryptocurrency market.
The basics of crypto-trading: indicators, charts and trend lines
The basics of crypto-trading: indicators, charts and trend lines Halving on the Bitcoin network has become one of the key events in the cryptocurrency market, which has fueled the interest not only of long-standing players, but also has caused the release of new ones. This is evidenced by recent data on the growing demand for crypto assets on top cryptocurrency exchanges such as Bithumb Global. For those who are just getting acquainted with the crypto-market and want to try their hand at trading a new class of assets, we will tell you what tools crypto-exchanges offer and how to use them in crypto-trading. To start trading cryptocurrencies, you must first select: • Crypto-wallet — there are several types of crypto-wallets: hot, cold, desktop, mobile and paper. All of them provide different levels of security and convenience. At the same time, the best option for storing cryptocurrencies is the use of two different wallets — hot and cold. So do most large companies working with digital assets. • Crypto-exchange is a trading platform that will allow you to exchange, buy and sell cryptocurrencies. Such platforms can be centralized (CEX), decentralized (DEX) or hybrid, combining the qualities of CEX and DEX. • A crypto-portfolio is a collection of crypto-assets collected for profit. It is best to form it in three stages: part of the currency for long-term storage (from 1 year and longer), another part — a medium-term deposit (up to six months) and a deposit for trading for several days or a week. When starting crypto trading, it is advisable to diversify your investment in a deposit for trading, paying attention not only to the potential of a particular coin, but also to the ways of earning that the cryptocurrency market offers. Experts advise at the initial stages to choose assets from the top 10 rating by capitalization.
• Order — a trader’s request for a cryptocurrency transaction. Orders are divided into market orders — for purchase (Buy) or sale (Sell), and pending — requests for a transaction at a non-market price, waiting for it to be at the right level. Pending orders include: ⁃ Limit — for sale / purchase at a price higher / lower than the current market price ⁃ Stop loss — orders to limit the loss ⁃ Take Profit — Take Profit Order • Market maker and market taker are market participants who create and accept orders. The market maker creates a new transaction request, increases the turnover of the exchange and raises the liquidity of the crypto asset, while the receiving market taker takes the asset out of circulation, lowering its liquidity. In this connection, different commissions are introduced on some crypto exchanges for makers and takers. • Exchange Cup or Order Book — a table with limit orders, which displays the closest sellers and buyers, where sellers’ orders are marked in red, and buyers are marked in green. The columns of the table show the number of cryptocurrencies and the price at which they intend to sell or buy. At the junction of these tables, a spread is formed — the difference in the price of supply and demand. The lower the spread, the more liquid the cryptocurrency. The analysis of the stock market is a leading indicator of the state of the market, since it allows you to predict changes before they happen. • Long and short positions (Long and Short) — the usual “mode” of trading. In the case of a long position, we buy cheaper and sell more. It is believed that the growth of assets in the market is a long process, therefore, work in this direction is also called long. The second option means a short position, that is, a game for a fall. The market believes that the decline in the value of assets occurs quickly, that is, in a short time. Therefore, this position is called “short.” • Exchange chart — shows the change in the price of cryptocurrency over time and is the most important tool for technical analysis. Charts display price changes with a line, bar and candlestick. • Bulls and bears — in the market so-called buyers and sellers. There is an analogy with the nature of animals: buyers always push the price up, creating a demand for something, and it turns out that the price seems to be pushed by horns. In this connection, bulls are optimists, they believe that the prices of the shares they bought will rise, and someday they will sell the asset more expensive than they bought. The bulls in the market are overwhelming (by approximate estimates, up to 80%), long investments are kept on them, and the bull trend means stable growth of stocks and general welfare. Bears, in turn, are sellers who have learned to capitalize on a falling market: they usually try to sell cryptocurrencies faster, often lowering the price of an asset. Concluding a contract for the sale, they fix its value, and then wait until the goods fall in price, close the deal and put the proceeds in their pocket. Bears are interested in a constant reduction in prices and achieve their goal, provoking an increase in supply: open short positions and sell until the price drops to the desired level. • Technical analysis is a set of tools for market forecasting of prices based on the movement of value in the past. In technical analysis, the same tools can be used for different markets and trading pairs with a slight adjustment of indicators. Also, technical tools are equally successfully used on any timeframes — from a minute to a year. • Fundamental analysis — this type of analysis is based on the consideration of financial and production market indicators that may affect the price of a traded instrument. The mood of market players, current and growing trends, indicators of production activity — all this information can give an extensive idea of the potential of the investment object in question. The main disadvantage of the fundamental analysis is that the information provided by him is insufficient to predict the movement of prices in some local areas. It is possible to determine a potentially good company that has excellent financial performance and has real prospects, but it will be impossible to determine the moment of entering a short-term profitable trade with a good indicator of risk to profit ratio. • Pattern — behavioral model / trading setup / market pattern. Patterns are one of the most common methods for analyzing price movements. Each pattern is always based on a certain idea, the simplest and most understandable. There are a lot of trading models, but all of them are derived from the classical model of breakdown or rebound from certain significant price levels.
Basic cryptocurrency trading tools at Bithumb Global
Using the example of a centralized cryptocurrency exchange Bithumb Global, we will analyze the main elements that cryptotraders will encounter in the initial stages of trading. When choosing a cryptocurrency exchange, first of all, you need to pay attention to the presence of: ⁃ Convenient ways to deposit and withdraw funds ⁃ Fiat currency support ⁃ High number of trading pairs ⁃ Information on the current state of cryptocurrency rates ⁃ Cryptocurrency Rate Charts ⁃ Technical indicators ⁃ Different levels of user verification ⁃ Built-in cryptocurrency wallet ⁃ 24/7 tech support On the Bithumb Global main page, a selection of top trading pairs is offered, where cryptocurrency tickers are listed, their price, exchange rate for the last day, daily trading volume and the asset quotes movement chart. Top trading pairs at Bithumb Global. Source. If you select a pair from this list, then Bithumb Global will automatically transfer the user to the Base Version of Spot Trading. Spot trading — the terms of the transaction with cryptocurrency, in which payment is made to both parties immediately. Here the user can get acquainted with the latest price of an asset, the volume of transactions with it, data on transactions and the minimum and maximum prices for the last day. Basic Version of Spot Trading on Bithumb Global. Source. You can select another trading pair in the top menu by hovering over the corresponding button, but the easiest way is to find the desired pair through the search. At the same time, the Professional Version of Spot Trading opens up a wider set of tools for the user, which will be discussed later.
Trading Tools Professional Version Bithumb Global
On the Professional Version, users can use price charts in the form of Candles, which look like a series of vertical lines and display price changes, where the upper point shows the maximum that the price has reached and the lower one — the minimum. If the closing price is lower than the opening, then the candle will be painted red or black, and if higher, then green or white. Knowing the direction of the price movement (body color of the candle), we can say exactly where the closing and opening prices are. Price chart in the form of Candles at Bithumb Global. Source. Also in this version of Spot Trading, a price chart is available to users in the form of a Glass, where sellers ‘bids are marked in red and buyers’ bids are marked in green. The analysis of the stock market is a leading indicator of the state of the market, since it allows you to predict changes before they happen. If, for example, a large congestion of sales requests at the upper price limit can be noted, then as soon as the market reaches this limit, a recession will provoke, triggered by a large number of sales. Price chart in the form of a Glass on Bithumb Global. Source. Price charts also have different timeframes — from 1 minute to 1 week, which allows you to conduct a more in-depth analysis of the movement of quotes of the selected asset. Bithumb Global price chart timeframes. Source. Also in this version of Bithumb Global, various Indicators are available to traders. In total, the cryptocurrency exchange provides about 80 different indicators that will help in the technical analysis of the movement of crypto asset quotes. Let’s analyze the main indicators available on Bithumb Global: • Volume — allows you to track the number of transactions completed by traders over a specific time interval. Green and red bars are indicators of the volume of transactions: red signals a decrease in volume, green — its growth. By analyzing the volume of transactions against the background of the price movement chart, you can confirm the strength of the trend or reveal its weakness and predict a price reversal. If prices rise and trading volume rises, we observe a bullish trend. An increase in trading volume in the event of a decline in prices indicates a bearish trend. • Moving Average (MA) is just as popular a tool as volume is. The indicator function analyzes the average prices for the selected time interval, which gives a relative idea of the general price trends. If the actual price of cryptocurrency for a long time keeps above the moving average, we can assume that it will continue to grow. Accordingly, a fall below MA is a signal to lower the price of an asset. For more accurate forecasts, it is advisable to use several moving averages based on different time intervals. Moreover, in case of disagreement, it is customary to consider the value of the average based on a longer period of time. If the signals from several moving averages coincide, we can talk about a fairly accurate forecast. • MACD (Moving Average Convergence Divergence) — having trained on one moving average, we will move on to a comprehensive analysis of this indicator. The MACD tool analyzes the convergence and divergence of three moving averages and can signal the beginning of a new trend. MACD also works well on different timeframes and is a fairly simple and popular indicator of technical analysis. • Zig Zag is an auxiliary indicator that analyzes the highest and lowest points of the cryptocurrency exchange rate and allows you to determine the correct entry points into the market. The plus of the indicator is that it eliminates the noise that can distort the forecast of the trend behavior. Minor fluctuations are simply not taken into account: lines connect the highest and lowest points of the price chart directly. The zigzag shows global market movements, but at the same time it only captures these changes in the past, without giving forecasts on the price behavior in the future. • Relative Strength Index (RSI) — shows the greatest efficiency in a sideways trend. With active course dynamics, RSI may produce incorrect data. Such indicators of technical analysis are called oscillators, and they must be used with caution. The indicator’s algorithms analyze price changes and allow you to evaluate the oversold or overbought status of an asset and, therefore, predict the occurrence of a bull or bear trend. • CCI (Commodity Channel Index) — The CCI or Commodity Channel Index, as well as the Relative Strength Index (RSI), helps evaluate overbought or oversold assets. This chart with values from minus 100 to plus 100 is displayed under the current price chart and can be applied on any timeframes. A CCI of more than a hundred means that the asset is overbought, and the price is about to fall, and on the contrary, a CCI below minus one hundred indicates the oversoldness of the asset and the likely increase in its price. This tool also refers to oscillators and is used during a lateral trend when there is no clear idea of how the price will behave in the near future. • ADC and DI — the index of the average direction and direction of movement, signals a change in trend. It looks like three lines on the chart: red — bears, green — bulls, blue (there may be other colors on different platforms) — the strength of the trend. This indicator is fairly reliable on four-hour and day frames. If the trend strength line is within 10−20 points, this indicates that the trend is gaining strength, but if the indicators reach 60−80 points, you should wait for the trend correction. The green and red lines will show who sets the market mood — bulls or bears. If the green line crosses the red line, the trend becomes bullish, and vice versa. Indicators at Bithumb Global. Source. Another useful tool available on the Professional Version of Bithumb Global is Trend Lines. It allows you to demonstrate in which direction the price of an asset is moving. The Dow theory, which is the basis of all technical analysis, suggests that no matter how the price behaves, it will always be in a particular trend. If the price behaves relatively evenly and stays in the same range without showing either growth or decline, such a trend is called a side or flat trend. A growing (“bullish”) trend is characterized by the appearance of a series of ascending highs, with each new peak must be higher than the previous one. Accordingly, the “bearish” downtrend shows points of failure (price low), each subsequent of which will be lower than the previous one. A trend line can be built on two points of a minimum or maximum, and a third confirming one is mandatory. The more points form a trend line, the more confident and stable the trend itself. The construction points should not be too close to each other in the time frame, otherwise the direction of the trend will not be completely correct. Please note that the uptrend line is plotted below the chart, and the downtrend is above it. The slope on the trend line should also be taken into account — its constancy indicates the stability of the trend. The change in the angle of the trend line is called the acceleration or deceleration of the price movement. The larger the angle, the faster the trend. A line through price lows is called a support line. As soon as the price reaches it, it finds market support there and, pushing off, again strives upward. The line connecting price highs is called the resistance line.This is the level above which the value of the asset has not yet risen. If the price breaks the support or resistance line, this is a clear signal for a trend violation and a change in trading tactics. Trendlines at Bithumb Global. Source.
The above are the basic trading tools available to traders of the Professional Version of the Bithumb Global crypto-exchange. They will help you figure out how to properly analyze the key metrics of cryptocurrency assets so that you can build the most advanced trading strategy. However, this is not the whole range of tools available to Bithumb Global traders. Follow DeCenter materials to learn about the intricacies of cryptocurrency trading on the advanced cryptocurrency exchange. Subscribe to our Telegram channel
Hackers Move Another $800K in BTC Stolen From the 2016 Bitfinex
Whale Alert reports that hackers transferred 77.64 bitcoin (BTC) on Tuesday, which amounts to $797,000 at the time the alert was issued. The thieves last moved about $255,000 or 28.4 BTC on May 22, in deals that appear timed to coincide with every spike in the price of bitcoin. BTC scaled past $10,000 on Tuesday, rising above the psychological point for the first time since the scheduled supply cut on May 11. According to data from markets.bitcoin.com, the top cryptocurrency climbed nearly 6% in the last 24 hours amid record coronavirus spending by world governments. Investors consider bitcoin a hedge against inflation in these uncertain times. Hackers have chipped away at their multi-million-dollar stash since making off with 120,000 BTC from Hong Kong-based crypto exchange Bitfinex in 2016. Valued at $72 million at the time, the bitcoin is now worth over $1.2 billion at current prices. Meanwhile, Ciphertrace said on June 2 that losses from cryptocurrency thefts, hacks, and fraud surged to nearly $1.4 billion during the first five months of this year. In a new report, the crypto intelligence firm says it has also started to notice coronavirus-related crime that needed some form of payment using virtual currency, but similar fraud remained minimal. Covid-19 fraud generally involved criminals luring their victims into social media groups where payment in bitcoin or other cryptocurrencies was requested, notes Ciphertrace.
What if Bitcoin is nature's way of preserving itself? Considering everything the ecosystem is going through presently, it seems plausible that what may seem like merely a new computer technology is actually much more in a wider view. Stepping back, one may notice that everything that is happening in this moment is on purpose. There is no such thing as coincidence. In the highly egocentric western world, many people see themselves as outside of nature instead of part of it. The reason for this is the abandonment of certain parts of ourselves and surroundings, more or less because of the cultural programming implemented in us from a young age. Glance back to the first boom of usefulness for Bitcoin. It played a massive role in supporting black market activity, making it a valuable tool for transferring wealth and illegal goods in a nuanced and relatively safe manner. Arguably, plant medicines that have been used by humankind for thousands of years to evolve consciousness now deemed illegal by mainstream culture are so rooted in the subconscious of our species that those very organisms used those willing to explore the forbidden mystery within them to eventually create Bitcoin and propagate for the benefit of all living systems. When a psychedelic compound such a psilocybin present in magic mushrooms is comsumed, it's very apparent that it dissolves one’s sense of self in a way not fathomable in any other form that is legal besides maybe meditation with much practice. It breaks one down to one's most simple self, an observer of the universe unfolding, leaving one scraping away for any bit of sanity that culture has peddled if the ego fights the experience in any way, lost in a loop of hellish abyss. Once the realization is had that all one can do is let the experience happen as there is no use fighting what the substance is trying to reveal is submitted to, it is as though a huge weight is lifted, catapulting consciousness into a wild, ego shattering understanding of unconditional love and interconnection. Having such an experience surely causes any “rational” being to question the nature of reality with a more scrupulous eye. In an age where it is becoming more apparent by the day that the current power structure is not only not serving the majority of people, but ultimately destroying one’s physical/mental/emotional/spiritual health, it is a dire time that people need to come together, back to a sense of balance. As many know, the disparity of wealth in the world is wider than ever before. This is not by accident. The parasites at the top thrive on fear and greed to cultivate and maintain their power over the masses. Many tactics, including banning psychedelic organisms to keep people disconnected and unhappy with whom they truly are so to disempower, continues the endless cycle of chasing false hopes in order to do their bidding. Fractional reserve banking, responsible namely for the US dollar is arguably the sole reason all of this is possible, as every person on the planet must spend the majority of their life finding ways to collect pieces of paper in hopes of survival. That does not mean there is anything inherently wrong with money. In fact, it is a rather useful invention. The problem is most people hardly understand anything about fiat currency, yet slave away for it every day for the majority of their healthy life. This is why Bitcoin was birthed. Its purpose is to expose the rampant fraud we're all subject to. Debt based money solely derives its value on faith, where which that earned today is worth less tomorrow, selling future generations prosperity away now. Many people don't yet view Bitcoin as a reliable store of value, but can one imagine where it would be today if regulators didn't have the authority to step in and put restrictions on its usage? Namely, KYC & AML laws that bar people from buying/selling without a bank license and require exchanges to demand the identity of every user with multiple forms of government identification. So too with capital gains tax. These regulations solely function to slow the inevitable growth of this unstoppable technology. At its grassroots, none of that ever being needed for Bitcoin to function is how it was brought into mainstream view following eventual restrictions. Arguably, if those laws weren’t placed upon Bitcoin, there would already be an even more thriving new economy backed by it firmly in place. Instead, it's being stunted by the currently insolvent and collapsing system that is built on the premise of "too big to fail" corporations that pillage the world's labor and resources so a few can live absurdly lavish lives. Fact is, it is one’s birthright to freely exchange ideas and goods with anyone else voluntarily. When denied of such interactions, our very nature to be liberated is denied,which creates inevitable resistance and strife. Looking at what many see as the solution to this corruption that causes such wealth disparity – the undeniable craving for unity and respect for the planet seen widely in the democratic-socialist movement in America calling for redistribution of wealth and addressing rampant pollution of the earth is partially misled in the sense it calls for more government intervention that relies on stealing from people. That is what allowed this mess to happen to begin with. America is already socialist for the “too big to fail” class in the form of endless money printing, claiming it is a capitalist nation where the rest of the people are deemed too small to survive, scrambling for the scraps that are supposed to trickle down though a rigged economy. What society actually needs is to go back basics with fulfilling simple living backed by sound money that can’t be manipulated by an either ignorant or conspiring ruling class. As the Bitcoin motto goes, "don't trust, verify". As long as the system is propped up by infinitely printable money, it can be used to corrupt those put in power, continuing a war on the people around the world. Everything that is going on right now is supposed to happen. For the exact same reason Bitcoin is trustworthy because it is mathematical, so too is the universe. Nature constantly breaks down to build itself back up, over and over again. In this time of uncertainty, on the cusp of watching society as we know it crumble, a new paradigm is unfolding. It is no coincidence this is all happening as Bitcoin has more people interested in it than ever before. This is the beginning of a potentially very prosperous age, unfathomable to most in the current moment. People are not meant to be domesticated, controlled by others granted higher status. We are all the same at the end of the day. Psychedelic experiences can reveal this truth of oneness; a push against mindlessly obeying authority that further attempts to rob critical thinking to create better life for all. Just as mushroom mycelium works as a network to break down old organic material to feed the forest and all who inhabit it, the internet and Bitcoin network work to break down centralized control of information and money that no longer serve the ecosystem. All in all, Bitcoin is a peaceful protest against the current system that is much needed. So too are consciousness shifting psychoactive plants that originally propagated the technology, as though to say to those that unjustly assert authority, “you fucked with the wrong organism. May the love be spread all around”! Thanks for reading! One love.
The Last Time This Happened, Bitcoin Surged From $3,150 to $14,000
In 2019, the price of Bitcoin surged from $3,150 to $14,000 when the inflow of BTC into exchanges plunged, and it just happened again. Leading crypto exchanges are holding around 1.36 million BTC, worth around $12,880,000,000. The last time major trading firms had such low Bitcoin reserves, the price of the dominant cryptocurrency surged from $3,150 to $14,000. Market data indicates a growing number of investors are moving their Bitcoin holdings out of exchanges. It shows traders have no intention of selling BTC at the current price of $9,400.
Why are Bitcoin investors moving their funds out of exchanges?
In the first quarter of last year, the price of Bitcoin ranged between $3,150 to $4,500 for nearly four months. When the inflow of BTC from exchanges started to decline, the cryptocurrency began to rally. Within three months, BTC increased from $4,000 to $14,000, recording a 250% price surge. At $9,500, Bitcoin is seeing the same BTC inflow volume into exchanges seen in early 2019. Fewer traders are depositing Bitcoin to trading platforms, which shows investors have no interest in risking their BTC to sell in the $9,500 to $10,000 range. The 12-month low inflow of BTC into top cryptocurrency exchanges coincides with long-term indicators signaling the start of a new uptrend. Macro indicators like the golden cross and the Puell Multiple show Bitcoin is on the verge of a major bull run as seen at the start of 2019. The Puell Multiple is a metric that considers the circulating supply by looking into miner revenue to measure if BTC is overbought or oversold. Currently, the Puell Multiple of BTC is hovering at 0.4. In mid-December 2019, when Bitcoin was at $3,150, it dropped to as low as 0.3. The supply-focused metric shows Bitcoin could see another minor pullback in the short-term. But, in the short to medium-term, Bitcoin is expected to see a sizable rally.
Bitcoin prepares for increased volatility as CME's record volume of contracts expires
The current month was marked by the growth of active positions on Chicago Mercantile Exchange (CME) bitcoin futures to new historical highs above $400 mln. This Friday the contracts on bitcoin futures expire by 23 000 BTC ($205 mln), on bitcoin options - by 10 000 BTC ($89 mln). This corresponds to approximately half of the open interest for each of the products, notes the analytical portal Skew. Record volumes of positions to be closed or rolled over make market participants expect increased volatility in the coming days. Earlier, the analyst Josh Olshevich paid attention to the fact that the closing of CME contracts often coincides in time with sharp fluctuations in the rate.
In an eerie coincidence, only a few years prior the now defunct Mt. Gox, which was similarly domiciled in Japan, suffered a hack in which 850,000 in bitcoin worth hundreds of millions of dollars was stolen, leading the exchange to file for bankruptcy. Coincheck remains solvent but the extent of the financial damage has yet to be determined. Top 5 Swiss Bank’s Profits up 34% After Bitcoin Integration AUD/USD climbs above 0.7000 as USD remains under pressure USD/JPY needs a break through the 107.50 daily to see the 108.00 mark According to Bloomberg Columnist Tim Culpan, the US CFTC is launching an investigation against popular Bitcoin margin trading exchange BitMex. The probe is related to the latter breaking the rules by allowing US-based traders to operate on its platform. Supposedly, the probe is going to be months-long. To be sure you are going to a real Bitcoin exchange, visit our [exchange portal on Bitcoin.com](https: You may receive an email from a wallet or exchange you already use, either by coincidence or through past database hacks. Maybe hackers obtained your email address on the black market; for example from a Yahoo! or other service hack. Top five Swiss bank Julius Baer Group, which manages $427 billion in assets, announced on July 20 that its profit increased by $524 million in … Coincidence? Top 5 Swiss Bank’s Profits up 34% After Bitcoin Integration Read More »
INSANE Bitcoin Coincidence: The Most Bullish Signal Yet?! Timing is CRITICAL!
This video is unavailable. Watch Queue Queue #Bitcoin faces extreme resistance! Crazy fractal pattern emerges: last time $BTC pumped 30%! Whales move $1 billion of $BTC, BTC searches skyrocket on Google... #Bitcoin breakdown? 2017 $BTC coincidence might give us clues to our next move, Mark Cuban slams gold (somewhat defends BTC), Binance US releases possible to... PS: Never listen to traders as you will never learn anything about Bitcoin system from them, and it is not a coincidence that pretty much every BTC promoter on YouTube is a trader as well (at ... #Bitcoin takes another dump!!! However, this time we know why (insane coincidence). Major exchange data hacked and sold on the darknet, Coinbase bans more users without explanation, Venezuela ...