Bitcoin is no doubt a hot commodity these days. People will jump at anything that can bring instant wealth. Unfortunately, the catastrophic collapse in May 2021 was a shocker. It sends a clear warning to be extra cautious about crypto investing.

Jerry Brito, executive director of non-profit research and advocacy group CoinCenter, said, “You shouldn’t invest in stuff you don’t understand.” The lure of earning big bucks is hard to resist. However, there are reasons not to buy Bitcoin if you can’t afford to lose your money.

1. Price volatility
The number one issue against Bitcoin is price volatility. Its recent downfall recreated the great crypto crash in 2018, when the price dropped below US ... Read more »

Category: News | Views: 165 | Added by: danyagames2007 | Date: 03.07.2021 | Comments (0)

Bitcoin price continues its consolidation under $35K with strong support at $33K. However, whale addresses holding 1k-10k BTC have registered a sharp spike, indicating a significant spike.

The top cryptocurrency also registered a 5% rise in price over the past 24-hours, rising from a daily low of $32,893 to a daily high of $34,748. BTC has moved in the price range of $30K-$40k for the majority of the past two months after seeing a massive sell-off in the second week of May.

Bitcoin would need to break past $35K immediate resistance before any further move, it managed to do so last week but couldn’t hold onto the gains and fell below the immediate resistance again.

Puell Multiple Metric Flashes Rare 5th Buy Sign ... Read more »

Category: News | Views: 177 | Added by: danyagames2007 | Date: 03.07.2021 | Comments (0)

Bitcoiners have referred to the recent fire in the Gulf of Mexico as an example of how much Bitcoin miners’ work, who constantly seek alternative sources of energy for their rigs, is safer for the environment that traditional energy industry based on oil and natural gas.

Among them is analyst Willy Woo, venture investor Anthony Pompliano and Kraken’s Dan Held.

One Bitcoin enthusiast with over 111,000 subscribers has tagged Elon Musk to dare him to say more stuff about BTC being bad for the environment compared to the oil boiling the ocean.

The “eye of fire” in the Gulf of Mexico
The fire on the surface of the gulf near Mexico’s Yucatan peninsula that started on Friday due to a leak ... Read more »

Category: News | Views: 150 | Added by: danyagames2007 | Date: 03.07.2021 | Comments (0)

The cryptocurrency market is a trillion-dollar market, with its overall valuation found to be $1.37T at press time. Needless to say, many investors are trying to get in on the action since investing in crypto can potentially be lucrative, especially if you invest at the right time.

For example, someone who may have invested $1,000 in Bitcoin a decade ago, may have more than $15 million today, assuming they did not sell during that period.

Well, this was 10 years ago. What about now? How much Bitcoin do you need to get rich? Can Bitcoin still make you a millionaire?

Analyst Lark Davis discussed this in his latest YouTube video. First of all, however, it is important to consider what Davis said,

“If you c ... Read more »

Category: News | Views: 171 | Added by: danyagames2007 | Date: 03.07.2021 | Comments (0)

Mark Alexander Hopkins, also known as “Doctor Bitcoin,” pleaded guilty on charges against him of running an illegal cash-to-crypto scheme. After allowing criminals to exchange fiat currencies for bitcoin, he faces imprisonment of up to five years.

Texas vs. ‘Doctor Bitcoin’
The Acting U.S. Attorney for the Northern District of Texas – Prerak Shah – announced that Mark Hopkins admitted that he ran unlicensed money transmitting business. The prosecution reminded that the Richardson man did not comply with Texas laws and enabled criminals to gain profits from dealing with BTC:

“This defendant ignored federal law and allowed fraudsters to use Bitcoin to operate under the radar of law enforcement. We are determined to rid the Bitcoin marketplace of anyone who knowingly helps criminal acto ... Read more »

Category: News | Views: 135 | Added by: danyagames2007 | Date: 03.07.2021 | Comments (0)