Crypto

4 women who became infamous crypto fraudsters

Published

1 week ago

October 22, 2024

4 women who became infamous crypto fraudsters

Jian Wen, 42, was found guilty of laundering Bitcoin in connection with a $6 billion fraud scheme in China and was sentenced to six years and eight months in prison earlier this year. In a significant 2018 operation, police in the U.K. seized over £1.7 billion (approximately $2.2 billion) worth of Bitcoin linked to the alleged fraud.

She was accused of laundering the proceeds from this fraud by converting the Bitcoin into cash and using the funds to purchase properties, jewelry, and other luxury items. Despite her involvement, the former takeaway worker claimed that she only managed a Bitcoin wallet on behalf of her boss and asserted that she was unaware of the illicit origins of the funds, insisting she was acting solely for her son’s well-being.

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Crypto

Bitcoin Hovers Around New All-Time High, Ethereum, Dogecoin Surge As Crypto Market In Turbo Mode: Top Analyst Says, 'History In The Making' – Grayscale Bitcoin Mini Trust (BTC) Common units of fractional undivided beneficial interest (ARCA:BTC)

Published

1 hour ago

October 29, 2024

Press Room

$Bitcoin Hovers Around New All-Time High, Ethereum, Dogecoin Surge As Crypto Market In Turbo Mode: Top Analyst Says, 'History In The Making' – Grayscale Bitcoin Mini Trust (BTC) Common units of fractional undivided beneficial interest (ARCA:BTC)$

Bitcoin pulled back from near-new highs Tuesday, while stocks rallied on Alphabet Inc.’s GOOGL better-than-expected third-quarter earnings.

Cryptocurrency	Gains +/-	Price (Recorded at 8:30 p.m. EDT)
Bitcoin BTC/USD	+3.66%	$72,287.07
Ethereum ETH/USD	+2.31%	$2,625.49
Dogecoin DOGE/USD	+7.15%	$0.1757

What Happened: The world’s largest cryptocurrency was within touching distance of making history as it flew to $73,577, just $160 away from the peak established earlier in March. However, the advance was halted as investors started cashing out.

With the latest rally, Bitcoin’s October gains jumped to 14.26%, as the month delivered on its promise of being one of the most rewarding in the market.

Ethereum also pulled back after scaling an intraday high of $2,680.

The rally liquidated nearly $185 million in leveraged short positions over the last 24 hours, with total cryptocurrency liquidations surging to $257 million.

Bitcoin’s Open Interest soared 5.11% to $43.17 billion in the last 24 hours.

The number of long positions held by whale investors on cryptocurrency exchange Binance exceeded the number of shorts by a factor of 1.42

Top Gainers (24-Hours)

Cryptocurrency	Gains +/-	Price (Recorded at 8:30 p.m. EDT)
Sui (SUI)	+14.89%	$2.11
First Neiro On Ethereum (NEIRO)	+10.61%	$0.00172
Aptos (APT)	+8.75%	$10.09

The global cryptocurrency stood at $2.43 trillion, following an increase of 3.04% in the last 24 hours.

Stocks bumped to new highs Tuesday. The tech-heavy Nasdaq Composite surged 145.56 points, or 0.78%, to end at a record close of 18,712.75. The S&P 500 gained 0.16% to end at 5,832.92. To the contrary, the Dow Jones Industrial Average slipped 0.36% to end at 42,233.05.

The rally came ahead of the third-quarter earnings report of the so-called “Magnificent 7” companies. Tech behemoth Alphabet released its numbers after market close, with revenue and earnings beating analysts’ estimates.

See More: Best Cryptocurrency Scanners

Analyst Notes: Popular cryptocurrency analyst Rekt Capital noted Bitcoin’s rollicking journey to new all-time highs, adding that a monthly close around the $72,800 zone will be its highest ever.

“Without a shadow of a doubt, we’re witnessing history in the making before our very eyes,” the analyst remarked.

Another well-known analyst, Ali Martinez, called attention to Bitcoin’s MVRV Ratio’s golden cross above its 365-day simple moving average, an event that has preceded “major” bull rallies throughout history.

While #Bitcoin $BTC at $72,000 might feel like a late entry, history suggests otherwise. The MVRV Ratio crossing over its 365-SMA has often signaled major bull rallies, and this golden cross just happened again! pic.twitter.com/Awkh0WdIOK
— Ali (@ali_charts) October 29, 2024

Additionally, Martinez raised expectations for Ethereum, projecting a target of $6,000 after it managed to hold on to the key support level at $2,400.

Photo by Igor Faun on Shutterstock

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Crypto

Cryptocurrency Pepe Rises More Than 11% In 24 hours

Published

9 hours ago

October 29, 2024

Press Room

Cryptocurrency Pepe Rises More Than 11% In 24 hours

Pepe’s PEPE/USD price has increased 11.64% over the past 24 hours to $0.000010, which is in the opposite direction of its trend over the past week, where it has experienced a 3.0% loss, moving from $0.000010 to its current price.

The chart below compares the price movement and volatility for Pepe over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.

Pepe’s trading volume has climbed 57.0% over the past week along with the circulating supply of the coin, which has increased 0.13%. This brings the circulating supply to 420.69 trillion, which makes up an estimated 100.0% of its max supply of 420.69 trillion. According to our data, the current market cap ranking for PEPE is #29 at $4.13 billion.

supply_and_vol

This article was generated by Benzinga’s automated content engine and reviewed by an editor.

Market News and Data brought to you by Benzinga APIs

Crypto

Prediction: This 1 Phenomenal Cryptocurrency Is Set to Soar | The Motley Fool

Published

16 hours ago

October 29, 2024

Press Room

Prediction: This 1 Phenomenal Cryptocurrency Is Set to Soar | The Motley Fool

This top digital asset has had a fantastic year, but more gains are likely on the way.

With a presidential election currently underway, cryptocurrency investors are thinking about who the eventual winner will be and their impact the overall industry. Perhaps a more accommodative White House can be a boon for digital assets.

Investors don’t need to search far and wide to find a place to park their capital. I predict that one top cryptocurrency is set to soar, thanks not only to potential changes to the regulatory landscape, but also for other reasons. Here’s a closer look.

Near-term catalysts

The crypto that’s up 63% already this year (as of Oct. 28), but that I believe will continue soaring, is none other than Bitcoin (BTC 3.88%). This is the world’s most valuable blockchain network, by far, with a market cap that exceeds $1.3 trillion today.

Bitcoin has had some catalysts that recently have worked in its favor and some that could help out in the near term. I mentioned the regulatory landscape earlier. Former President and Republican nominee Donald Trump was the keynote speaker at the Bitcoin Conference in Nashville, Tennessee, in July and said that if elected, he would establish a Bitcoin strategic reserve for the U.S.

This paves the way for the government of the world’s biggest economy to start pushing forward legislation that benefits Bitcoin, which could be a boon for the crypto’s price and adoption. Individuals and institutions will be less afraid to buy and hold it.

In April, Bitcoin underwent a halving, cutting its new supply growth rate in half. Historically, in the roughly 12- to 18-month period after a halving, Bitcoin’s price has experienced an impressive bull run that has driven its price to new highs. We’re six months into this cycle, so the next year could see big upside.

In January, the Securities and Exchange Commission finally approved Bitcoin spot exchange-traded funds (ETFs). These investment vehicles essentially legitimized Bitcoin on both Wall Street and Washington. They have made it incredibly easy for investors to gain exposure to Bitcoin’s price action without needing to figure out custody solutions.

Last month, the Federal Reserve cut its benchmark interest rate for the first time since the start of the COVID-19 pandemic, which struck in the first half of 2020. Lower rates help to boost consumer borrowing and spending and business investment. And for investors, they can spur more risk-seeking behavior to earn higher returns, which could push more capital to Bitcoin.

Owning a scarce asset

After learning about those four major catalysts (regulation, halving, ETFs, and lower rates), it’s very difficult not to be bullish on Bitcoin as we look ahead. This digital asset has near-term developments working in its favor. However, I also believe investors have reason to believe Bitcoin can soar over the long term, say the next decade or more.

What makes this asset unique is that it’s absolutely finite. There will only ever be 21 million coins in circulation. The previously mentioned halving events enforce Bitcoin’s pre-determined supply growth rate. Owning a scarce asset can be extremely compelling for investors.

Here’s where Bitcoin outshines fiat currencies, most notably the U.S. dollar. The world’s reserve currency has seen its purchasing power plummet in the past century due to the government constantly printing more money to fund its troubling fiscal deficits and service its gargantuan debt load. The money supply as measured by M1, which includes all the cash and money in checking accounts, totals $18.2 trillion today. That’s up more than sixfold from $2.9 trillion just 10 years ago. This trend, which leads to dollar devaluation, is unlikely to reverse.

Investors looking to own a decentralized asset that isn’t controlled by anyone and isn’t prone to being constantly debased could find themselves buying and owning Bitcoin.

Neil Patel and his clients have no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin. The Motley Fool has a disclosure policy.