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Saturday, 23 June 17:07 (GMT -05:00)



Foreign exchange market

Cryptocurrency for Investors: Vulnerability Overweighs Profitability?


Cryptocurrencies have been dominating international headlines over the last few months. Unfortunately, there are some unpleasant speculations and manipulations seen in the market despite the continuous growth shown by Bitcoin, Litcoin, Ethereum and other popular digital currencies. After Bitcoin, which is the leading cryptocurrency, saw a 20% drawdown, Ethereum, which is the second-biggest digital currency in terms of market capitalization, followed its senior brother. While Bitcoin retraced for objective reasons, Ethereum crashed on rumors about the its founder’s death, which turned out to be a lie. The founder is safe and sound. So, later on, the digital currencies managed to recover, but then plunged again. Moreover, this has been a continuous roller coaster ever since digital currencies came into existence.

 

 

 

 
The thing is that crypto currencies has been vulnerable and sensitive about many external and internal factors, which is why they have been so volatile. And that’s something that worries international investors and has a negative impact on the entire sector and its market capitalization.
 
However, all of that is just one side of the coin, and it’s purely financial. However, cryptocurrency trends have been heavily influenced by other news beyond the financial scope. This has to do with revealing fraudulent schemes, which in its turn creates concerns and discussions. All of a sudden, investing in cryptocurrencies doesn’t look that secure. The thing is, those currencies are anonymous, and that’s why they have been heavily used for money laundering and making dirty money of criminal nature.
 

 

Why do they send cryptocurrency exchange owners to jail?

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So, some of those drawdowns in the market were triggered by the news associated with criminality. The owner of Coin.mx was sentenced to 5 years in jail for money laundering schemes involving digital currencies. Apparently, the exchange is now closed.
 
Some members of the international community also claim that he was involved in big-scale hacker attacks, including the attack on JPMorgan Chase. And the list of such cases is rather long.
 

Chinese cryptocurrency exchanges are under pressure

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China is one of the first who declared war on those who use digital currencies for illegal purposes. By the way, China punishes frauds really seriously – life-term imprisonment or even death sentence. Probably, that’s one of the reasons why all of the local cryptocurrency exchanges are willing to cooperate with the People’s Bank of China behind the closed doors, especially as the Chinese government changed their attitude towards digital currencies earlier this year.
It’s should be noted that the People’s Bank of China started an investigation against Chinese cryptocurrency exchanges to check them for involvement in money laundering. As a result, they had to quit using leverage and introduced transaction fees. Apparently, those changes affected the local segment of the cryptocurrency market. The transaction volume dropped considerably while the central bank promised to go on with their investigation.
 

 

Bitcoins for Petya and scams

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When it comes to scams, we cannot but recollect the virus called Petya. This was a devastating virus attacking major corporations, networks, and even smaller firms worldwide, including, Spain , the UK, India, Belarus, Norway etc. However, Russia and Ukraine suffered most of all.
 
The hackers demanded $300 in Bitcoins to get the information unblocked. And many of the victims agreed to pay. Over the first day of hacker attacks, the victims paid over $5500. Yet, this is not the first case of successful blackmailing related to cryptocurrencies.
 
Another case has to do with Freewallet, which is a service designed to store various cryptocurrencies like Bitcoin, Ethereum etc. A lot of Freewallet users complained that someone had stolen their money. Ethereum Blockchain analytic insruments showed that someone had really stolen 21000 Ethereum coins, which was equal to 8 million dollars back then. The thief had chosen the victims randomly.
 
Since Freewallet developers still haven’t commented on the matter, the victims are afraid that Freewallet is a scam itself.
 

 

Investors’ thoughts on the risks of investing in cryptocurrencies

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It’s interesting to note that all of those facts still haven’t made some investors change their attitude to digital currencies in general. They still think that investing in cryptocurrencies is safe and the blockchain technology is the future of global finances and investing.
 
For example, some of them think that using cryptocurrencies as payment means is just the first step in the process of abolishing taxes through inflation. The next step is creating an alternative blockchain-based investment ecosystem. This decentralized financial system will be designed to back security for all assets, including, stocks, bonds, options etc. thanks to cryptography tools, investment assets can be emitted by anyone without the necessity to trust third-party issuers. Everything is going to be done through mining, the way it’s done today with Bitcoin. The question is, will this innovative protocol secure the users against hackers, who are getting increasingly interested in the decentralized and unregulated cryptocurrency environment?

 

 

 

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UK to Start Litcoin Futures Trading

Starting from tomorrow, international investors will be limited only to buying Bitcoin futures. The thing is, on June 22nd, a UK-based crypto futures platform named Crypto Facilities launches Litecoin futures.
 
Publication date: 21 June 01:06 PM

Will Bitcoin Dive Below $6000?

Publication date: 19 June 12:42 PM

Today’s Bitcoin Rate Signals Growing Risks in Banking Sector

Yesterday, the BTC exchange rate suddenly started growing, probably as a part of a recovery move against the existing downtrend. According to CoinMarketCap, the current BTC exchange rate is somewhere above 7500 USD/BTC. Over the last 24 hours, the world’s first cryptocurrency has gained some 5%, trying to recover from May’s downtrend (in case you don’t know, the coin has lost 20% since early May before starting to recover yesterday).

Publication date: 31 May 08:33 AM

Bitcoin Goes Down Before Another Rally?

The BTC exchange rate keeps on going down while being driven by a number of factors and circumstances. International experts say that the price of the world’s first and most popular cryptocurrency is currently going down just to gain some momentum later and skyrocket to new highs.

Publication date: 29 May 11:19 AM

Masterforex-V Analysts name Successful ICOs in May 2018

For those of you who don’t know, an Initial Coin Offering (ICO) is all about raising funds. To be more specific, startups sell their underlying crypto tokens in exchange for existing crypto currencies, mostly Bitcoin, Ethereum and other altcoins out there. This resembles an IPO in the stock market where investors buy a newly offered stock.

Publication date: 23 May 12:14 PM

Bitcoin Will Hit $20K, CoinShares Says

Bitcoin is really capable of getting back to the all-time high at $20K per coin. This is what founder of Coinshares Danny Masters thinks on the matter. He is not a rookie in this business. His company has been creating investment products for the cryptocurrency market and conducting blockchain-related research for years. Mr. Masters believes in the future of Bitcoin and altcoins. However, he thinks the market is yet to pass a few development stages. 

Publication date: 20 May 08:38 AM

German Stock Exchange Börse Stuttgart Welcomes Cryptocurrencies

Soon enough, maybe this fall, German stock exchange Börse Stuttgart is going to start working with cryptocurrencies. For that purpose, the exchange is expected to use its branch. Trading cryptocurrencies will be implemented through the Bison app. The expected trading turnover is around 100 billion dollars.

Publication date: 17 May 12:00 PM

Bitcoin Goes Down, Getting Closer to 8000 USD/BTC

Earlier today, the world’s first and most expensive crypto currency was going down while continuing the downtrend seen a day before. According to CoinMarketCap, the BTC exchange rate dropped below 8300USD/BTC, though it recovered a bit later on. Over the last 24 hours, the currency lost more than 5% of its dollar value. 

Publication date: 16 May 11:51 AM

Bitcoin Rallies Despite Criticism from Buffet and Gates

This trading week, Bitcoin is unlikely to conquer another major threshold located at 10000 USD/BTC. The thing is that some Bitcoin investors were cooled down by the statements made by investment guru and billionaire Warren Buffett, founder of Berkshire Hathaway, as well as by Bill Gates, founder of Microsoft and one of the richest people on the planet.

Publication date: 10 May 09:05 AM

Will Bitcoin Rate Exceed $10K This Week?

This week, the BTC exchange rate may well break above 10000 USD/BTC, most of the experts interviewed by PRIME think.

Publication date: 09 May 12:51 PM