- Experts call the correction of bitcoin healthy and necessary before the rise to $ 86,000
- -Chinese authorities are selling $ 4.2 billion in cryptocurrency seized from PlusToken
- -The court did not specify any possible methods of implementing the cryptocurrency.
- -In June 2019, users started complaining about issues with withdrawing funds.
Experts call the correction of bitcoin healthy and necessary before the rise to $ 86,000
Bitcoin needs a correction after breaking through key resistance levels. The market is still far from "euphoria", which could push the price of the cryptocurrency to $ 86,000 next year. Such conclusions are contained in the report of the company Stack Funds.
Analysts called the recent decline in the price of bitcoin by several thousand dollars "healthy". In their opinion, market participants are still at the stage of "faith", which will eventually turn into "euphoria".
The research is based on Glassnode's unrealized profit and loss data. The corresponding graph is built on the ratio of the current bitcoin price to the market value of coins at the time of their last movement.
In late July, Chinese law enforcement agencies arrested 27 prime suspects in organizing the activities of the cryptocurrency pyramid. 82 key members of the group were also arrested. The damage caused by PlusToken is estimated at $ 5.8 billion.
In August, police arrested six of the pyramid's creators. In September they were accused of organizing and running a fraudulent program.
Analysts called the recent decline in the price of bitcoin by several thousand dollars "healthy". In their opinion, market participants are still at the stage of "faith", which will eventually turn into "euphoria".
The research is based on Glassnode's unrealized profit and loss data. The corresponding graph is built on the ratio of the current bitcoin price to the market value of coins at the time of their last movement.
-Chinese authorities are selling $ 4.2 billion in cryptocurrency seized from PlusToken
The Chinese authorities are converting the cryptocurrencies seized during the investigation of the PlusToken financial pyramid for 4.2 billion US dollars. The block writes about it with reference to the Yancheng court order.-The court did not specify any possible methods of implementing the cryptocurrency.
The PlusToken pyramid, introduced in spring 2018, was operated under the guise of a cryptocurrency wallet. According to the prosecutor, PlusToken's main participants have attracted investors with a monthly return of 10-20% and a referral program. They managed to interest 3 million people.-In June 2019, users started complaining about issues with withdrawing funds.
Since its inception, the program has attracted 314,000 BTC, 117,450 BCH, 96,023 DASH, 11 billion DOGE, 1.84 million LTC, 9 million ETH, 51 million EOS and 928 million XRP. The court estimates that the total value of these assets exceeds $ 11 billion.In August, police arrested six of the pyramid's creators. In September they were accused of organizing and running a fraudulent program.