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Bitcoin (BTC) Surge Threatened by Sharp Fall

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Bitcoin (BTC)
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Bitcoin surging in recent weeks has made financial pundits, especially the so-called experts in cryptocurrency, predict a time of downturn despite reaching $20,078.40 last week, according to CoinMarketCap.

The positive expectations that the CME Bitcoin was going to appreciate far above $20,000 suddenly became dicey and the momentum could no longer continue. As it stands, Bitcoin’s free flowing surge has been checked. It is currently trading at $13,485.90 and forecast suggests it may be down by 21% in less than 24 hours. The market value for the cryptocurrency now stands slightly above $231 billion, while the 24-hour trading volumes have moved above $18 billion. By implication, Bitcoin has seen a 30% correction since its upsurge last week.

According to Shane Chanel, equities and derivatives adviser at ASR Wealth Advisers in Sydney, she insisted that a correction is always going to happen. “Keep in mind that bitcoin has gone up a lot this year, so a correction is always likely. A lot of the capital is flowing from bitcoin into alternative coins. You’ve seen companies like Verge and Ripple, which are over 400 percent in the last week.” The Ripple surge is testament to Shane’s observation as it is currently trading at $1.04 according to CoinMarketCap.

Bitcoin price was always going to witness a plunge, but no one knew exactly when and the cause. Stephen Innes of the Asia Pacific at Oanda Corp noted that the fall in the price of Bitcoin is a necessary check that was going to happen regardless of whether there are checks or not. It was a warning for investors who are not willing to risk it all.

“At the heart of the matter was a frenzied demand for coins with limited supply has now led to unsophisticated investors holding the bag at the top.” Innes stated.

A bitcoin derivative Bitcoin Cash (BCH) is emerging as a strong player in the market, a reason attributed to the fall in Bitcoin. In more specific terms, the fall became apparent after the cryptocurrency was recently registered on the largest U.S cryptocurrency exchange – Coinbase. The price of Bitcoin Cash surged by over 70% after the report and there were also news of possible insider trading which the exchange has said that they will be investigating the matter.

Recently, five of South Korea’s Bitcoin Exchange became vulnerable to attacks, which could also account for the fall. Some of the worst hit includes the popular exchange Bithumb as confirmed by MBC, a South Korean media outlet which hired security personnel to investigate. It was discovered that hackers could easily break in the security procedures by using “basic hacking tools” as described by the security team, putting at risk a lot of user data and funds.

Rapid Bitcoin is known to be volatile and many see Bitcoin trading as gambling. The inclusion of Etherum, Litecoin and Ripple has also impacted the cryptocurrency market, surging to over $600 billion.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.

Image courtesy of airpix via Flickr

Bitcoin

Cryptocurrency Fraud is Evolving; Bitcoin ATMs Mitigate Risk 

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Cryptocurrency Fraud is Evolving
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In one of the more overlooked aspects of the crypto ecosystem, it appears that the bulk of illicit activities are shifting from hacks and thefts to cryptocurrency fraud and scams.

CipherTrace, the crypto-surveillance, and analysis firm released a report at the end of Q4 2019 that revealed hacks and thefts had decreased by 66 percent in 2019 while fraud and misappropriation of funds surged by 533 percent. And beneath the COVID-19 hysteria of 2020, hacks in the crypto sector have been eerily isolated. 

Outside of a few exploited flaws in P2P exchanges and DeFi flash loan vulnerabilities, the headline-grabbing hacks of exchanges for hundreds of millions of dollars have been absent so far this year. Is the industry due for another massive hack, or are stringent KYC/AML processes, regulatory crackdowns, better security practices, and blockchain surveillance working? 

KYC/AML Improvements Are Reducing the Appeal of Crypto Exchange Laundering 

2020 is far removed from the no-KYC wild west days of the early-mid 2010s where anonymous altcoin casinos preponderated and the Dark Underbelly of Cryptocurrency Markets thrived. 

Today, bitcoin and the crypto ecosystem is becoming institutionalized with a surfeit of derivatives (e.g., options, futures, perp swaps, etc.) available on…

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Bitcoin

IE Option – 91% Profit on BTC Fluctuations in Every 60s

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On Thursday, Bitcoin price broke below $6,700 and hit the weekly low to $6,480. Then, it rebounded back above $7,000 again with an increasing rate of 5%. At press time, based on the incomplete statistics, more than $720 million worth cryptocurrency futures contracts have been liquidated in this week. During the strong market fluctuation, investors are learning a hard lesson about the downside of cryptocurrency futures trading with leverage. 

Since we know that we cannot make money by investing in BTC spot trade during the bear market, and we notice the high risks of liquidation by trading leveraged bitcoin futures contracts, how can we hedge the loss in spot trade and profit from the BTC market volatility? 

BTC Option is a profitable trading product that you can turn to!

What is Option?

Option is a type of crypto derivative contract which enables investors to make speculative bet on price rising and falling. Call option means that trader long BTC at a given strike price, while Put option allows trader to short BTC at a given strike price. 

For example, if you predict that BTC price may surge, you can buy a call option. Suppose that you buy a call option at $7,000. As long as price exceeds $7,000, you can make profit. 

IE Option – Get…

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4 things you should know about bitcoin casinos

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Bitcoin casinos
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Bitcoin Casinos are the ideas of innovation, firmly moving towards the goal of disrupting the whole Gambling Industry. Best Bitcoin Casinos are the true trailblazers of the new era of gambling. Their creators quickly recognized all the immense potential that blockchain and cryptocurrencies contained within themselves. Most of the top Crypto Casinos started operating in the first half of the past decade and are quickly moving towards being the dominant force, when it comes to online gambling. There are a couple of key characteristics and advantages that elevate BTC Casinos above the rest of the competition on the market.  

Trusted casinos have fast withdrawals

Only the Best Bitcoin Casinos offer players the benefits that come with using cryptocurrencies as the main source of finance. One of the biggest advantages that BTC Casinos have over the rest of the competition is speed. When using cryptocurrencies, players can deposit and most importantly withdraw their money with blistering speeds. Thanks to blockchain technology, all the financial transactions are completed within the minutes of request. Alternatively, standard online casinos operating under the guidance of classical banking intuitions, need several days to complete the same procedures.

In BTC Casinos anonymity matters 

Another amazing benefit of Bitcoin Casinos is the ability to stay completely anonymous during the transactions and gameplay. Thanks to the…

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