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$100 Million Tether To Buy Bitcoin?

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This Sunday, September 2nd, a large shipment of Tether (USDT) was sent to a cryptocurrency exchange called Bitfinex, as reported by Crypto Trader’s host, Ran NeuNer. Many are expecting a large price surge from Bitcoin (BTC) since moves like this in the past usually indicated that Bitcoin’s value is going to skyrocket.

New BTC price surge about to arrive fro Tether?

It would seem that a large change in the crypto market is coming, which is just what the investors have been waiting for. According to a recent tweet posted by ran NeuNer, Crypto Trader’s host, around $100 million new Tether (USDT) coins were sent to Bitfinex only days ago.

In the past, whenever something like this happened, it usually meant that Bitcoin’s own price is about to go through the roof. Tether movement has always been one of the biggest indicators that something big is about to happen, and investors around the world are jumping on an opportunity to make a profit.

When stablecoins like Tether are shipped off to an exchange, it usually means that a whole lot of BTC is about to be purchased. This has happened on a few occasions in the last few months — on July 24th and August 21st of this year. Both times, the move was followed by a significant price surge, with BTC rising by $800 in July and $650 in August. Of course, the market usually turned around pretty quickly, still being in the claws of the bears at the time. However, the situation might be different this time.

Can the signs be trusted?

Of course, everyone understands that this is no guarantee that BTC will actually rise, as nothing is ever certain when cryptos are involved. However, the investors have been looking for a sign of a big bull run for months now, and this is as close as they will ever get to receiving one. At the time of writing, Bitcoin’s price is at $7,297.07, and it moved up by only 0.71% in the last 24 hours.

Still, it would seem that the investors are making their own preparations, with a number of short positions on Bitfinex experiencing a rise on its own in the last few days.

In fact, one of the largest ones was a 10,000 BTC short position, which has surprised even the most experienced investors.

This was followed by $100 million Tether moving to Bitfinex, and the two were quickly tied together by investors, which started speculating about what is coming. Different analysis’ of these events popped up all over Twitter, but one of the Placeholder Management’s partners, Chris Burniske, might have presented the situation the best, in a series of tweets.

Burniske explained that the increase in the number of short positions might be good or bad, depending on the viewpoint. From the momentum perspective, such increase can mark a really good time to pile on. However, a contrarian perspective says that a lot of short positions might serve as so-called “rocket fuel to the upside”, in case that the short positions are simply wrong.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Bitcoin

Trusted Crypto Tumbler To Protect Your Wealth

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Back when Bitcoin originally emerged, over 11 years ago at this point, cryptocurrency transactions were believed to be fully anonymous. This belief stuck around for years to come, but today, we know that, in most cases — this is no longer the truth.

Since the invention of blockchain explorers, it became possible to track every Bitcoin transaction, all the way back to the genesis block. This came as a part of blockchain transparency which promises to eliminate corruption, theft, and other such issues.

However, there is still a need for a certain level of privacy, as people like to keep their wealth to themselves, and not let everyone know how much money they have, or how much they sent for whatever purpose. This is why many are now using crypto tumblers, or mixers.

What do crypto mixers do?

As the name suggests, crypto mixers/tumblers mix up the coins in order to hide/disguise/make it difficult to discover where the coins came from. Things like the amounts, transactions, and wallet addresses to and from which the coins travel are fully traceable, which is why tumblers exist.

In a way, you could say that mixers can add an extra layer of privacy while using Bitcoin, Ethereum, Litecoin, and many other cryptocurrencies. There are many Bitcoin mixers Continue Reading

Bitcoin

5 Best Places to Bet with Bitcoin

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It seems like BTC is always making headlines for one reason or another.

When the market points towards bullish behavior Bitcoin is all the rage. When there is so much long action (going on right now) and then the price plummets, BTC also dominates the headlines. The same goes for legislation and when any new crypto product or platform comes out. It’s always compared against BTC.

So with BTC fever in full swing, sportsbooks around the world have adopted digital currencies as one of their main forms of funding accounts and paying out winnings. And with sports betting legalized in states across the USA, both BTC and legal online gambling are in the limelight. 

But where are the best places to bet using BTC and other cryptos? Furthermore, why would you want to use BTC, LTC, or Ethereum in this manner?

The Why

The principal reason why you would want to use cryptocurrencies in your ‘sports investing’ ventures is speed, cost, security, and bonuses.

When you use cryptos like BTC (BTX) to move money in and out of your account. You bypass the standard centralized banking system which drastically improves on both the speed of the transaction and the cost of the transaction – this is especially true with payouts. 

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Bitplaza Inc Introducing Cryptocurrency to Retail

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Even though influential companies are not ready to validate cryptocurrencies as a stable form of money, Bitcoin is becoming a more frequently used currency daily. There is a rising number of companies that accept Bitcoin for the purchase of their products, validating it as a spendable currency around the globe.

Bitplaza Inc took the next step into technology and commerce, providing customers with a platform where they can spend Bitcoins for their needs through a mobile device. It opens the opportunity for companies and brands to list their products in exchange for Bitcoin, which will give more credibility to the coin.

What is Bitplaza?

Bitplaza is a shopping app that belongs to a retail company called Bitplaza Inc, located in Pennsylvania. The app is available on both Google Play and the Apple App Store. Bitplaza allows anyone globally to purchase brand new items with Bitcoin. The app has a wide variety of products to buy online, from electronic devices, video games, even groceries. The products that can be purchased from the app range from popular brands such as Sony, Starbucks, Adidas, Apple, and many more. The Bitplaza team is always adding new products to the shopping app, making more items available to be purchased with Bitcoin. The app covers a broad range of products for the different needs of the…

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