Dead startups: ICOs as the biggest scam in history

Dead startups: ICOs as the biggest scam in history

What's new? Satoshi Nakamoto 'is alive', a new hijacker that steals BTC, Qiwi opens a crypto-investment bank, more than 1,000 ICOs failed, blockchain can be used in public administration, Austria sells crypto in 400 post offices, BTC is better than gold & other news

  • Bloomberg announced that Satoshi Nakamoto is alive and writes a book. A new site belonging to someone claiming to be the real Satoshi appeared online. However, this Satoshi has a different style of writing, and tries to assure everyone he's real without moving his genesis coins, so Bitcoin community doesn't believe it.
  • There's a new hijacking software that steals Bitcoins. It simply monitors the infected computer's clipboard, swaps any Bitcoin address sent to clipboard for its own, and the victim ends up sending his coins to this wrong address.
  • QIWI, a large Russian payment system, starts a crypto investment bank via its daughter company QBT. This bank's name will be HASH, and its main goal will be raising money for various projects for a commission, attracting funds and institutional money. It already has 3 ICOs in its pool of projects.
  • It was counted that more than 1,000 ICO projects failed in this year. Some of them failed due to bad planning, some of them being scams. But that doesn't stop investors, as the number of new fundraising projects has doubled since then.
  • The number of people withdrawing their money from crypto exceeded the deposits in April by 37%. But in May it flipped again, and many people think that all weak hands were washed out during these dips.
  • A bill considering the use of blockchain in public administration was proposed on June 22. It was proposed by 133 deputies of the ruling party Partido Popular to the Spanish Congress. Now it has to go through the review process.
  • An analyst says that the volume of BTC futures is too small to influence its price. There are only 2,000 trades per day, amounting to 4% of the total BTC market, and it’s practically nothing compared to the volume going through retail exchanges.
  • Crypto is available for buying in more than 400 Austrian post offices. Austrians can buy there 7 different cryptocurrencies thanks to BitPanda, an exchange from Vienna. Also, it can be bought in stores of more than 1,300 post partners.
  • At a recent public event, Tyler Winklevoss said that Bitcoin is better than gold. It's also fungible and its amount is limited, but it's more portable. He compared, in the same way, Ethereum to digital oil and said that Litecoin is more like a testnet for Bitcoin. Winklevoss stated that BCH is unlikely to be added to Gemini exchange, because of its aggressiveness towards the main cryptocurrency.


3,598 USD 1.17%
Volume, 24h
1,129,132,890 USD
62,927,609,992 USD

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Bitcoin Price Analysis Jan.23: The Next Resistance – Descending Trend-line at $3600

Over the past two days, BTC has tested once the dangerous zone of $3480 – $3500 and the second slide had produced a hammer type candle (on the 4-hour chart) with a low at $3400 as a long wick. Hammer candles tend to be bullish reversal candles. This is how capitulation candles look like. However, this candle is on the 4-hour timeframe and not on the daily or weekly charts. Following the above reversal candle, BTC had a mini-run to previous resistance at $3600, along with the 50 days moving average line (marked in purple on the 4-hour chart) and a descending trend-line (marked by an orange line). From our previous analysis: “the 4-hour Stochastic RSI had just crossed over around the oversold area. This might lead to a slight correction, maybe to retest prior support that was broken. Possible correction levels could be the $3600.” As of writing this, Bitcoin got rejected by the $3600, and some more indicators support the idea that a break-up of this level won’t be so easy. Looking at the 1-day & 4-hour charts Looking on the bullish side, the next significant resistance is $3600, as mentioned above. Above that level lies the daily chart’s 50 days moving average line (marked in white, currently around $3650), the $3700 and $3800 areas. From the bear side, the next major support area is the $3480 – $3500. Below this crucial level, lies the $3400 (weak support) and $3300 support level. This is before retesting the 2018 low at $3120. The 4-hour chart’s Stochastic RSI oscillator had just crossed over at the overbought zone. This can produce a correction down for the next day or two. The daily chart’s RSI: So far the crucial line at 43 holds up. The trading volume is still pretty dull; even though yesterday’s green candle was highest during the past week (on Bitstamp). But we still seek to see volume entering the market in either way. BitFinex’s open short positions had decreased to 22.4K BTC of open positions. BTC/USD BitStamp 4-Hour chart BTC/USD BitStamp 1-Day chart The post Bitcoin Price Analysis Jan.23: The Next Resistance – Descending Trend-line at $3600 appeared first on CryptoPotato.

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