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HitBTC Is The Worst Exchange, says John McAfee

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John McAfee
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John McAfee is undoubtedly a man of the people. He loves his crypto fans. He loves cryptocurrencies and he loves Docademic for its revolutionary concept of making healthcare cheaper, accessible and efficient on the blockchain. But John McAfee does not love the HitBTC exchange at all.

His reason for picking a new fight with HitBTC, is that according to him, the exchange has become what decentralization set out to fight: power. According to McAfee, HitBTC is wielding to much power and has increased the suffering of millions of poor people who cannot afford the minimum buy-in to the exchange since it is greater than their monthly income. The exchange currently charges a fee of 0.0006 BTC on each deposit irrespective of the type of cryptocurrency. This is the equivalent of $4. There are also a bunch of fees at the exchange.

McAfee elaborated this point of view through the tweet below:

A lot of McAfee’s fans agree with his views and observations with regards to the behavior of HitBTC. One Twitter user was quick to comment that once exchanges become popular, they get drunk with power to the point where they disregard the little guys that help them get there in the first place. According to the user, decentralization of exchanges is the only way of getting rid of power hungry exchanges.

Another user expressed how he had a 7 month battle with the exchange just to get his coins back. His tweet was as follows:

After this outcry by McAfee’s fans, he went on to declare total war on HitBTC when he said:

“Hitbtc I will be your worst enemy until you prove that you are aligned with our community and are truly interested in helping the poor. You have not done shit to help access the only free healthcare in the world.”

John would later conduct a survey on his site asking if HitBTC has offered good services. So far, the survey has 80% respondents who said that the service at HitBTC was not that pleasant. The number is sure to go up with time as McAfee continues his crusade against the exchange.

In summary, it seems McAfee has declared that he will take down the system that is corrupt power at the exchange known as HitBTC. By locking out investors who cannot afford the buy-in to trade at the exchange, HitBTC has made an enemy in McAfee who has asked us to boycott the exchange because it is the worst. Perhaps this is why he wants to run for president: so he can fight for the rights of everyone.

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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.

Image courtesy of Gage Skidmore via Flickr

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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Bitcoin crash
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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

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Bitcoin

The Bitcoin Revolution: Everything You Need To Know To Take Profits

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Bitcoin
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Bitcoin is soaring high in the cryptomarket once again, and experts are expecting a return of the bullish trend of 2017. The current Bitcoin price is $7,615 as of 23 May 6:56 AM UTC. This significant jump comes just six months after the Bitcoin price plummeted to a low of $3150 in December 2018. Since then, Bitcoin has experienced steady growth and gain in the market. However, in the last 30 days, the Bitcoin price peaked to $8,320.82, its highest price ever. This phenomenal jump occurred in a span of only 10 days breaking the Bitcoin record so far of significant gains made in short time frames. This positive growth has led to experts forecasting the Bitcoin price to hit the $20,000 mark by the end of this year.

Since entering the market almost 11 years ago, Bitcoin is still at the top of the global cryptocurrencies list. The current circulating supply of Bitcoin is at unbelievable 17,708,875 BTC. The market trend of the Bitcoin price has remained positive even when the currency did not maintain an uptrend. Cryptocurrency researchers believe that Bitcoin has the potential to grow up to a high of USD 50,000 within the next two years.

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Altcoins

3 Altcoins That Are Outperforming Bitcoin and Will Likely Face Consequences

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altcoins
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The crypto market is going through a period of massive recovery in the past few months, which has caused the investors’ optimism to return. While all eyes are on Bitcoin (BTC), as usual, the largest coin seems to be struggling with a major resistance level at $8,000 at the moment. While this level was breached a few times now, every breach resulted in a correction.

At the time of writing, BTC is approaching this level yet again, with its current price being at $7,985,79, and rising further. The price managed to grow by 1.06% in the last 24 hours, and will undoubtedly hit $8,000 in a matter of hours, if not sooner.

However, while Bitcoin continues to remain volatile and struggles with waves of growth and decline, there are some altcoins that are not following its path. Of course, most of them are performing in pretty much the same manner as BTC, as they always had. But, a few coins have actually managed to outperform Bitcoin in recent months.

While optimists believe that this might lead to decoupling from Bitcoin — something that only Binance Coin (BNB) managed to pull off up to this point — it is likely that there will be consequences for these cryptos. This likely means that a price drop for these specific coins awaits somewhere in the near future, as outperforming BTC…

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