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Cryptocurrency Strategist Foresees Potential Bitcoin Downturn Amid Recent Dip

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Cryptocurrency Strategist Foresees Potential Bitcoin Downturn Amid Recent Dip

A seasoned cryptocurrency strategist who astutely predicted the recent downturn of Bitcoin shed some light on the potential trajectory of the infamous digital currency. If there’s any weight to the analyst’s forecast, we are possibly on the threshold of a far more substantial bearish phase in the cryptocurrency market.

Earlier in the week, the world of cryptocurrency was still basking in the glow of Bitcoin’s steady ascent beyond $70,000. Amidst the euphoria, a handful of analysts raised caution flags. Notably, the analyst known as Xanrox had taken to the renowned platform TradingView, warning of a probable nosedive in Bitcoin’s price. His augment is supported by several indicators seen recently.

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Xanrox’s analysis suggested that Bitcoin’s boom could be short-lived, forecasting a crash in June rooted in the price activity observed in May. An interesting marker that gained the attention of Xanrox was the formation of what he referred to as an “FVGAP” at the $62,000 level. According to him, this could potentially trigger a bullish surge for Bitcoin down the line. The reason being, such gaps typically tend to be filled sooner rather than later, thereby indicating an impending retrace.

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Furthermore, Xanrox infers from the Elliott Wave Theory that Bitcoin has completed its first upward or “impulsive” wave, Wave 1, and that Wave 2 is poised to be bullish in nature. Yet, Xanrox’s analysis expands beyond these waves, he highlights the formation of a corrective ABC pattern taking place.

Additionally intriguing is the observation of a diminutive red trend line on that chart that has already exhibited signs of waning strength. This falling trend line, added to a rising wedge pattern observed by Xanrox, acts as a strong indicator of an incoming drop in the digital currency’s value.

Xanrox’s analysis was posted on late May, and since then, Bitcoin has seen a considerable drop, now hovering below $68,000. This sharp downturn partially confirms the analyst’s prediction, thereby warranting an update on his post, outlining the potential future of Bitcoin’s pricing.

In his follow-up content, he points out yet another red trendline on the brink of a breakdown, following the first. The presence of two staggering lower trend lines paints a gloomy picture of Bitcoin’s future value. Furthermore, Xanrox indicates that Bitcoin’s price has formed a symmetrical triangle, which he predicts will also break down, leading to a fall in its price.

As for the degree of the anticipated plunge, Xanrox’s illustration signals a drop toward the $62,000 level, implying a decline of over 10%. Such a trend could cause turbulence across the wide cryptocurrency market. The analyst advises caution in the months to come, as he perceives summer as a potentially low volatility period for Bitcoin.

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At present, Bitcoin is positioned a notch below $68,000 according to the latest data. In spite of suffering a significant loss of 2.7% in the past week, it’s worth noting that the cryptocurrency still showcases a promising growth of around 10.28% on a monthly basis.

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Summit County Sheriff’s Office recovers over $100,000 in cryptocurrency investigation

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Summit County Sheriff’s Office recovers over 0,000 in cryptocurrency investigation

SUMMIT COUNTY, Ohio (WOIO) – A City of Green resident reported being the victim of a cryptocurrency investment fraud in early October, resulting in a significant financial loss and opening an investigation.

The Summit County Sheriff’s Office Detective Bureau initiated an investigation utilizing detailed information and financial records provided by the victim.

According to a release from the sheriff’s office, there was assistance from Jackson Township Police Department’s cryptocurrency recovery “Trace Team” and detectives were able to successfully trace and recover $110,000 of stolen funds.

The sheriff’s office reminds the public to remain alert regarding cryptocurrency investment scams and fake investment platforms.

These schemes often begin by encouraging small initial investments that appear to generate returns, creating a false sense of credibility.

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The sheriff’s office said once trust is established and larger investments are made, the funds are frequently transferred and become inaccessible.

For public safety, people are encouraged to thoroughly search any investment opportunity and exercise caution when dealing with unsolicited or online investment platforms.

The release from the sheriff’s office says that if anyone believes they may be a victim of cryptocurrency or investment fraud, they should immediately contact their local law enforcement agency and file an online complaint with the FBI’s Internet Crime Complaint Center at www.ic3.gov.

The Summit County Sheriff’s Office said it remains committed to protecting the community and working with partner agencies to investigate and combat financial crimes.

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Bitcoin Mining Promises Under Fire as SEC Alleges $48.5M Investor Funds Were Misused

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Bitcoin Mining Promises Under Fire as SEC Alleges .5M Investor Funds Were Misused
Federal regulators are tightening the vise on crypto investment schemes, spotlighting alleged fraud tied to bitcoin mining that raised nearly $100 million while misleading thousands of investors about operations, capacity and the use of their money.
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The Cryptocurrency That Could Be About to Explode 1,000% | The Motley Fool

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The Cryptocurrency That Could Be About to Explode 1,000% | The Motley Fool

This tiny AI coin could be ready to skyrocket in 2026.

It’s slim pickings in the crypto market right now, with nearly every cryptocurrency down 25% or more over the past 90 days. But if you’re willing to dig for bargains and hold your nose at the same time, it’s possible to come up with some potential blockbuster plays for 2026.

My favorite pick right now is Artificial Superintelligence Alliance (FET 0.25%), down 68% over the past 90 days, and more than 80% for the year. This is exactly the type of beaten-down cryptocurrency that could be ready to explode higher by 1,000% or more over the next 12 months.

Rules for picking 1,000% winners

In order for any cryptocurrency to soar 1,000% or more within a relatively short period of time, it needs to meet a few key criteria. First of all, it needs to be dirt cheap — that’s the only way to attract speculative retail money. So, as a first cutoff, let’s narrow our search to beaten-down cryptos trading for $1 or less.

Second, the cryptocurrency needs to be in a red-hot sector or backed by a red-hot investment thesis. Within the blockchain and crypto world, there are plenty of potential hot ideas to choose from, including real-world asset tokenization, stablecoins, and decentralized finance (DeFi).

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But let’s face facts here: If you try explaining real-world asset tokenization or stablecoins to your friends and family over the winter holidays, you’ll probably be met with a very frosty reception. The investment narrative needs to be easy to grasp and easy to explain. And I can’t think of a better one right now than artificial intelligence (AI).

Image source: Getty Images.

So let’s further narrow our search down to so-called AI coins. This was once a red-hot category, and includes some major names like Bittensor, Render, and Artificial Superintelligence Alliance (FET 0.25%).

The case for buying Artificial Superintelligence Alliance

Of these AI coins, the only one that’s trading for less than a buck right now is Artificial Superintelligence Alliance (the cryptocurrency formerly known as Fetch.ai). It has a super-low discount price of $0.20 — almost as cheap as some meme coins. In order for FET to explode in price by 1,000%, all investors need it to do is hit a price of $2.20.

Fetch Stock Quote

Today’s Change

(-0.25%) $-0.00

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Current Price

$0.21

Thankfully, it has already done that in the past. In March 2024, Artificial Superintelligence Alliance hit an all-time high of $3.47. So, getting back to a price level of $2.20 may not be as insurmountable as it seems at first.

Moreover, the crypto (via the involvement of Fetch.ai in the alliance) is at the forefront of the hot new field of agentic AI, so there’s plenty of long-term growth potential.

Just keep in mind that there’s a big reason the price of Artificial Superintelligence Alliance has cratered by nearly 95% over the past 18 months. Simply put, investors have given up on the “alliance” that was supposed to create the world’s foremost AI coin.

The multistep merger process that was supposed to result in a single token called ASI has gone on much longer than expected. It has also been much messier than many people expected. In October, Ocean Protocol — one of the three big AI players involved — finally pulled out of the alliance, and that sent the price of FET tumbling.

What can investors expect in 2026?

As recently as December 2024, the price of Artificial Superintelligence Alliance was around $2. That’s why I’m optimistic about a potential rebound in price in 2026. Crypto traders have likely overreacted and are now dumping this AI coin indiscriminately.

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That being said, a 1,000% surge in price is by no means guaranteed. It’s quite possible that the price of Artificial Superintelligence Alliance could go to zero. So, buckle up now if you plan to invest in this AI coin — the path ahead is likely to be filled with turbulence and stomach-churning moves up and down.

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